Business
Gentoo Media announces restatement of previously issued financial statements
Gentoo Media today announces that its Audit Committee, with the assistance of external counsel and the appointed group auditor, has completed a comprehensive review of the company's financial reporting.
About this update from Gentoo Media Inc
[{"type":"text","content":"BIRKIRKARA, Malta, Nov. 18, 2025 /PRNewswire/ -- Gentoo Media today announces that its Audit Committee, with the assistance of external counsel and the appointed group auditor, has completed a comprehensive review of the company's financial reporting.","length":255,"tagName":"p"},{"type":"text","content":"As part of this review, a number of errors were identified in previously reported financial information. These include certain misstatements that were known and previously assessed as immaterial during the audit of the 2024 financial statements, as well as newly identified items. When evaluated collectively, the Board of Directors concluded that the aggregate impact is material and that a restatement is required to ensure complete, accurate and reliable financial information.","length":480,"tagName":"p"},{"type":"text","content":"Accordingly, Gentoo Media will restate figures previously reported in:","length":70,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"the audited consolidated financial statements for the fiscal year ended 31 December 2024, and","length":93,"tagName":"p"}]},{"val":[{"type":"text","content":"the unaudited consolidated interim financial statement for third quarter 2024 of the fiscal year ending 31 December 2024, and","length":125,"tagName":"p"}]},{"val":[{"type":"text","content":"The unaudited consolidated interim financial statement for fourth quarter 2024 of the fiscal year ending 31 December 2024, and","length":126,"tagName":"p"}]},{"val":[{"type":"text","content":"the unaudited consolidated interim financial statements for the first and second quarters of the fiscal year ending 31 December 2025","length":132,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":476,"olType":false},{"type":"text","content":"including the necessary flow-through adjustments to affected line items and disclosures.","length":88,"tagName":"p"},{"type":"text","content":"The corrected amounts and their financial impact are described in the Q3 2025 Interim Report, published 18 November 2025. The net impact of the review is to reduce reported revenue and profit in 2024 and to increase revenue and profit reported for the 6 months to June 30th 2025. There is no impact on cash.","length":307,"tagName":"p"},{"type":"text","content":"The decision to restate reflects Gentoo Media's commitment t...