Innovation Beverage Group Ltd (IBG) Form 6-K — Sep 16, 2026
Innovation Beverage Group Limited announced that, on September 15, 2026, its Board — on the recommendation of the Audit Committee and management, and after consulting current auditor M&K CPAS and former auditor Astra Audit & Advisory — determined that its audited FY2024 financial statements should no longer be relied upon due to identified errors, and that a restatement is required. The restatement nearly doubles the FY2024 net loss to $4,700,315 from $2,571,333 as originally reported, cuts stockholders' equity from $2,619,109 to just $415,865, and deepens the accumulated deficit to $11,132,893.
Key figures
- Revenue
- 2922241
- Net loss increase
- 2128982
- Cumulative reverse split
- 1-for-25
- Total assets restatement
- decreased from $4,955,373 to $3,770,013
- Revenue previously reported
- 2931243
- Net loss previously reported
- 2571333
- Ip intangible assets increase
- 35496
- Total liabilities restatement
- increased from $2,336,264 to $3,354,148
- Unrecorded equity commitments
- 1225427
- Impairment expense restatement
- 1861833
- Operating expenses restatement
- 7289564
- Accumulated deficit restatement
- 11132893
- Stockholders equity restatement
- decreased from $2,619,109 to $415,865
- Impairment expense previously reported
- 612072
- Beginning accumulated deficit adjustment
- 115418
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