Financial Results - The company announced its financial results for Q4 2024 and the fiscal year ended December 31, 2024, during a conference call on April 3, 2025[6]. - The earnings press release and presentation are attached as exhibits to the report, providing detailed financial results and insights[16]. Restatement and Accounting Adjustments - The company identified technical accounting deficiencies in previously issued unaudited financial statements for the quarters ended June 30, 2024, and September 30, 2024, leading to a restatement of those financials[7]. - The restatement does not impact the company's liquidity, cash flows, or operating expenses for the affected periods[13]. - The company recorded an accrual for legal expenses that was subsequently adjusted to reflect the actual amount due, indicating a proactive approach to financial accuracy[8]. - The company revised its accounting treatment for a convertible debt instrument to comply with ASC 815, ensuring proper accounting for embedded derivatives[9]. Internal Controls - The management concluded that a material weakness exists in the company's internal control over financial reporting, which will be addressed in the upcoming Restatement Filing[12]. - The company plans to provide further specifics on the deficiencies in internal controls and its remediation plan in the Restatement Filing[14]. Compliance and Risks - The company is classified as an emerging growth company, which may affect its reporting and compliance obligations[3]. - Forward-looking statements indicate potential risks related to the completion of the restatement and its impact on future financial performance[17].
KINS TECHNOLOGY(KINZ) - 2025 Q1 - Quarterly Results