INNOVATION BEVERAGE (IBG) Restates 2024 Books, Net Loss Nearly Doubles
The Australian drinks group says its audited 2024 financial statements can no longer be relied upon, with net loss restated to $4.7 million from $2.57 million.
Innovation Beverage Group (IBG) told the SEC that its audited financial statements for the year ended December 31, 2024 should no longer be relied upon because of errors that require a full restatement. The board reached that conclusion on September 15, 2026, on the recommendation of the audit committee and management, and after consulting both current auditor M&K CPAS and prior auditor Astra Audit & Advisory. Investors were also told to disregard any earnings releases, investor presentations or other communications based on those statements.
