MINERALRITE Corp (RITE) Form 8-K — May 27, 2026
MineralRite Corporation (OTC: RITE) announced a material restatement of its financial statements following an SEC review of its acquisition of Peeples Inc. and California Precious Metals LLC. The company revised its accounting treatment from a business combination to an asset acquisition, resulting in a $186 million reduction in the carrying value of acquired assets, from $432 million to $246 million. The filing indicates that previously issued annual and quarterly reports should no longer be relied upon, with amended reports filed to reflect the new valuation methodology.
Key figures
- Revised asset value usd
- 246000000
- Previous asset value usd
- 432000000
- Asset value reduction usd
- 186000000
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