Cyngn Warns Investors Not to Rely on Recent Financial Statements

Reuters

Nov 08

Cyngn Warns Investors Not to Rely on Recent Financial Statements

CYNGN Inc. announced that its previously issued financial statements for the year ended December 31, 2024, and the quarters ended March 31 and June 30, 2025, should no longer be relied upon due to an error in accounting for certain warrants issued under a Securities Purchase Agreement. The company is preparing restated financial statements and will file amended reports with the SEC. CYNGN also identified a material weakness in its internal controls over financial reporting and plans to hire a third-party expert to address the issue, expecting remediation by the first quarter of 2026. The company stated that no clawback of executive compensation is required as a result of the restatement.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CYNGN Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-107677), on November 07, 2025, and is solely responsible for the information contained therein.

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.

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C","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4023":"应用软件","CYN":"Cyngn Inc"},"translate_title":"Cyngn警告投资者不要依赖最近的财务报表","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CYN":0.9},"content_text":"Cyngn Warns Investors Not to Rely on Recent Financial Statements\n    \n\n        CYNGN Inc. announced that its previously issued financial statements for the year ended December 31, 2024, and the quarters ended March 31 and June 30, 2025, should no longer be relied upon due to an error in accounting for certain warrants issued under a Securities Purchase Agreement. The company is preparing restated financial statements and will file amended reports with the SEC. CYNGN also identified a material weakness in its internal controls over financial reporting and plans to hire a third-party expert to address the issue, expecting remediation by the first quarter of 2026. 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