Assure Holdings Corp., a Nevada-based company trading under the symbol IONM on the NASDAQ Capital Market, has issued a critical update on April 24, 2024, regarding its financial statements. The company's Board of Directors, following recommendations from the Audit Committee and management, has determined that the unaudited financial statements for the quarters ending March 31, June 30, and September 30, 2023, should no longer be relied upon. This decision was made during the preparation of the consolidated financial statements for the year ended December 31, 2023, where several errors were identified, including a misrecorded deferred tax liability and inaccuracies in stock-based compensation benefits and accounts receivable. Assure Holdings will restate the affected financial statements in its upcoming Annual Report on Form 10-K for the year...Show More

Assure Holdings Corp., a Nevada-based company trading under the symbol IONM on the NASDAQ Capital Market, has issued a critical update on April 24, 2024, regarding its financial statements. The company's Board of Directors, following recommendations from the Audit Committee and management, has determined that the unaudited financial statements for the quarters ending March 31, June 30, and September 30, 2023, should no longer be relied upon. This decision was made during the preparation of the consolidated financial statements for the year ended December 31, 2023, where several errors were identified, including a misrecorded deferred tax liability and inaccuracies in stock-based compensation benefits and accounts receivable. 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. The Board has discussed these issues with the company's independent registered public accounting firm, WithumSmith+Brown, PC. Additionally, Assure Holdings has provided information about 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.