Nuburu Inc. has announced a regulatory issue concerning its financial reporting. On June 20, 2025, the company's management, following the recommendation of its Audit Committee, determined that its unaudited financial statements for the three months ending March 31, 2025, should not be relied upon due to material misstatements. These errors involve non-cash accounts related to the fair value calculation of convertible notes, leading to incorrect entries in additional paid-in capital and non-operating expenses. The company plans to restate these financial statements and address the material weakness in internal control over financial reporting identified in their previous annual report. The Audit Committee has discussed this restatement with the independent accounting firm.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.