High Wire Networks Inc (HWNI)

[infamous]

yep! this is GOOD.! .... The errors wholly relate to derivatives recorded on the balance sheet as of the end of each quarter. Upon review, the instrument that required derivative accounting was removed from the Company’s balance sheet in conjunction with the sale of the ADEX Corporation and related companies on March 6, 2023. The Company will report a gain on debt extinguishment for the quarter ended March 31, 2023, and will have no derivative liability for the quarters ended March 31, 2023, June 30, 2023 and September 30, 2023. By removing the instrument requiring derivative accounting, the Company will also be able to reclassify the value of its Series D and Series E preferred stock from the mezzanine equity of the balance sheet to the equity section of the balance sheet. Additionally, this discovery has caused the late filing of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023.