Assure Holdings Corp., a Nevada-based company trading under the symbol IONM on the NASDAQ Capital Market, has issued a critical update regarding its financial statements. On April 24, 2024, the company's Board of Directors, following recommendations from the Audit Committee and management, determined that the unaudited financial statements for the quarters ending March 31, June 30, and September 30, 2023, should not be relied upon. This decision was made during the preparation of the consolidated financial statements for the year ended December 31, 2023. The identified errors include a misrecorded deferred tax liability, unrecorded stock-based compensation benefits, and an overstatement of accounts receivable and revenue due to a dispute settlement with a commercial insurance payor. Assure Holdings will restate the affected financial statements in its...Show More

Assure Holdings Corp., a Nevada-based company trading under the symbol IONM on the NASDAQ Capital Market, has issued a critical update regarding its financial statements. On April 24, 2024, the company's Board of Directors, following recommendations from the Audit Committee and management, determined that the unaudited financial statements for the quarters ending March 31, June 30, and September 30, 2023, should not be relied upon. This decision was made during the preparation of the consolidated financial statements for the year ended December 31, 2023. The identified errors include a misrecorded deferred tax liability, unrecorded stock-based compensation benefits, and an overstatement of accounts receivable and revenue due to a dispute settlement with a commercial insurance payor. Assure Holdings will restate the affected financial statements in its upcoming Annual Report on Form 10-K for the year ended December 31, 2023. The company has acknowledged a material weakness in its internal control over financial reporting and has stated that its disclosure controls and procedures were not effective during the periods in question. Assure Holdings has discussed these issues with its independent registered public accounting firm, WithumSmith+Brown, PC. Additionally, Assure is planning a proposed transaction with Danam, for which relevant materials will be filed with the SEC, including a registration statement containing a prospectus and a proxy statement.