FDCTECH, INC. 8-K

What Happened

• On June 23, 2026, FDCTech, Inc.'s Board of Directors concluded that previously issued unaudited condensed consolidated financial statements for several 2024 interim periods should no longer be relied upon. The affected statements were included in the Company’s Quarterly Reports on Form 10-Q filed December 31, 2024. The Board reached this determination after consulting with management and the Company’s current independent registered public accounting firm, LAO Professionals (PCAOB Firm ID: 7057), and completing an evaluation of the nature and magnitude of certain errors referenced in the filing. The company also stated that related earnings releases and other communications describing results for those periods should no longer be relied upon.

Key Details

• Board determination date: June 23, 2026.
• Affected 2024 interim periods:
  • three months ended March 31, 2024;
  • three and six months ended June 30, 2024; and
  • three and nine months ended September 30, 2024.
• These statements were included in FDCTech’s Form 10-Q filings dated December 31, 2024.
• Auditor history: Olayinka Oyebola & Co. was dismissed as auditor effective April 3, 2025 after being designated a Prohibited Service Provider by OTC Markets Group; LAO Professionals was engaged as successor auditor effective April 3, 2025.

Why It Matters

• For investors, the company’s withdrawn reliance means those interim quarterly results should not be used as a reliable basis for valuation, trend analysis, or financial comparisons until FDCTech issues corrected or amended financial statements.
• The action typically signals that the company identified material problems in prior interim reporting; investors should monitor the company for further disclosures, corrected filings, auditor communications, or restatements that clarify the impact on revenue, earnings, or other metrics.