Here are the bullets
- The cannabis multi-state operator said that the delay is because of “the ongoing review being undertaken by management.”
- “The Company identified errors related to impairment charges for long-lived assets that were no longer in services that likely should have been written off from the books and records of the Company in the reporting period for the year ended June 25, 2022,” according to an SEC filing. “Based on the work we have conducted at this time, which is preliminary, unaudited and subject to change, the impact is expected to principally involve non-cash impairment expense.”
- “The Company is evaluating the impact of the error on its consolidated financial statements and the extent to which the Company’s annual and quarterly consolidated financial statements filed during the 2022 fiscal year require revision or amendment.”
More at https://seekingalpha.com/news/3966786-medmen-says-quarterly-report-will-be-delayed
