Agree. Seems to be an over-reaction. Was President trying to recognize revenues early for a performance bonus or something?
"concluded that the unaudited condensed consolidated financial statements of the Company for the two fiscal quarters ended June 30, 2015 and September 30, 2015 (the "June and September 2015 Quarters"), should no longer be relied upon because of certain errors in such financial statements.
To the knowledge of the audit committee, the facts underlying its conclusion include that revenues recognized related to certain customers of the Company did not meet revenue recognition criteria in the June and September 2015 Quarters."
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