Tue, Jun 18, 9:09 PM (81 days ago)
Alpha Star Acquisition Corporation has filed an amendment to its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, to restate its financial statements due to improper classification of certain assets and liabilities. The restatement impacts current and non-current assets and liabilities, resulting in adjustments of $118,228,816 and $2,875,000 respectively. Management identified material weaknesses in internal controls over financial reporting. The company will amend and restate specific sections of its original filing, including business details, controls and procedures, and financial statements. The amendment includes new certifications from principal officers. The company, a blank check entity, aims to merge or acquire a business, with a current focus on completing its initial business combination. The amendment does not update other information from the original filing.