Theralink Technologies Inc (THER)

[learningcurve2020]

.004!!!


>>From February 16, 2021 through April 14, 2021, Theralink Technologies, Inc., a Nevada corporation (the “Company”), agreed to sell 288,458,560 shares (the “Shares”) of its common stock, par value $0.0001 per share, at a purchase price of $0.004506713 per share in 14 separate private placements for an aggregate purchase price of $1,300,000.


>>On April 20, 2021, the Chief Financial Officer of the Company determined that the Acquired Business Financial Statements and the Pro Forma Financial Statements should no longer be relied upon. In reviewing the accounting practices of Avant subsequent to the closing of the acquisition, the Company has determined that the Acquired Business Financial Statements contain errors related to accounting mistakes from prior periods, changes in accounting policy and the impairment of intellectual property.

The Chief Financial Officer of the Company discussed the matters with Avant’s independent auditors, Weinstein International C.P.A. and determined that such errors were material. As a result, the Company is concurrently filing a Current Report on Form 8-K/A (the “Second Amendment”) that includes the restatement of the Acquired Business Financial Statements and the Pro Forma Financial Statements (collectively, the “Restated Financial Statements”), which supersede in their entirety the financial statements included in the First Amendment. The Company is filing the Second Amendment concurrently with this Current Report on Form 8-K to provide the Restated Financial Statements.

For the Year Ended
September 30, 2019
Prior Filing Adjustment Restated

Loss from Operations $ (2,423,996 ) $ 938,861 (a) $ (1,485,135 )

Total Other Income (Expense), net $ 198,587 $ (311,286 ) (b)$(112,699 )

Net Loss $ (2,225,409 ) $ 627,575 $ (1,597,834 )