P28 stock recently took a dive and alot of people are asking me what happened. Let me try to shed some light on the situation.
Apparently, P28 found some errors in past financial statements for a few previous periods and is having to remedy these statements.
If you read the July 30th SEC announcement, https://d18rn0p25nwr6d.cloudfront.net/CIK-0001531978/8113e1b5-681b-44de-ae3d-ef8df19dd73b.pdf, P28 is claiming that COGS was off $8.4M for YE 2023 and $1.7M for March 2024. However revenues and net losses were reported correctly.
Rumors on the street are that ZB backed off a takeover of P28 on...
