Invech Holdings Financial Statements Unreliable
Ticker: IVHI · Form: 8-K · Filed: Sep 18, 2024 · CIK: 1009919
| Field | Detail |
|---|---|
| Company | Invech Holdings, Inc. (IVHI) |
| Form Type | 8-K |
| Filed Date | Sep 18, 2024 |
| Risk Level | high |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: financial-restatement, internal-controls, disclosure
TL;DR
Invech Holdings says don't trust their old financials, review ongoing.
AI Summary
Invech Holdings, Inc. filed an 8-K on September 18, 2024, to announce that its previously issued financial statements should not be relied upon. This is due to an ongoing review of the company's financial reporting and internal controls. The company is working to address these issues and will provide updated financial information once the review is complete.
Why It Matters
Investors should be cautious as previously reported financial data from Invech Holdings is no longer considered reliable, potentially impacting investment decisions.
Risk Assessment
Risk Level: high — The company is disclaiming reliance on previously issued financial statements, indicating significant potential issues with financial reporting or internal controls.
Key Players & Entities
- Invech Holdings, Inc. (company) — Registrant
- September 18, 2024 (date) — Date of report
- Nevada (jurisdiction) — State of Incorporation
- 000-25553 (filing_id) — Commission File Number
- 98-0419476 (tax_id) — IRS Employer Identification No.
FAQ
What specific financial statements are affected by this non-reliance announcement?
The filing states that 'previously issued financial statements' should not be relied upon, implying all prior statements are under review.
What is the reason for the non-reliance on the financial statements?
The filing indicates a review of the company's financial reporting and internal controls is underway, leading to the non-reliance.
When did Invech Holdings become aware of the issues requiring this announcement?
The filing does not specify when the company became aware, only that the report is dated September 18, 2024.
What is the company's ticker symbol?
The ticker symbol is not explicitly mentioned in this excerpt of the 8-K filing.
Will the company be restating its financial results?
The filing states the company is working to address the issues and will provide updated financial information once the review is complete, suggesting a restatement is likely.
Filing Stats: 442 words · 2 min read · ~1 pages · Grade level 11.9 · Accepted 2024-09-18 14:52:31
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share IVHI OTC Markets Indicate
Filing Documents
- invech_8k.htm (8-K) — 22KB
- 0001683168-24-006484.txt ( ) — 191KB
- ivhi-20240918.xsd (EX-101.SCH) — 3KB
- ivhi-20240918_lab.xml (EX-101.LAB) — 33KB
- ivhi-20240918_pre.xml (EX-101.PRE) — 24KB
- invech_8k_htm.xml (XML) — 3KB
02, NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS
ITEM 4.02, NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW Invech Holdings, Inc. has concluded the Q2 financial statements, filed on Form 10Q on August 12, 2024, should not be relied upon. The financial statements were not reviewed by our current auditor. The board of directors has discussed the disclosed matters with the registrant's independent accountant, Michael Gillespie & Associates, PLLC. Michael Gillespie & Associates, PLLC is currently reviewing the Q2 financials statements and will be included in our revised S-1 filing. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Invech Holdings, Inc. DATE: September 18, 2024 By: /s/Rhonda Keaveney Name: Rhonda Keaveney Title: CEO 2