Niocorp Developments Ltd (NB)

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Grunt23; Good day indeed. (Uh Huh...Every day is a holiday, every meal is a feast.)

The Audit committee concluded that the Lind conversions should have been expensed at the time of the conversion of Lind Debt to Shares. This increased the reported 2021 and 2022 total losses. The method used had reported a smaller loss for those periods by treating the expense as something deferred to a future reporting period.

Because of this they have recalculated and restated 2021 and 2022 losses. This may reduce 2023 fiscal year losses due any Lind Conversions since those losses are now being reported in 2021 and 2022.

Any accountants have a better take? I do not know if there are any regulatory consequences; others can speculate on that.
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"Restatement Impacts

Fiscal Year Ended June 30, 2022

As Previously Reported As Restated
Interest expense $1,906 $921 $2,827
Net loss 9,929 958 10,887




Fiscal Year Ended June 30, 2021
Restatement Impacts

As Previously Reported

As Restated
Interest expense $1,113 $430 $1,543
Net loss 4,390 434 4,824