Kiwa Bio-Tech Files Restated Financial Statements

Kiwa Bio-Tech Products Group (OTCQB:KWBT) has announced that on November 22, 2017, following a re-audit of its annual financial statement for the year ended December 31, 2016 by Friedman LLP, the company’s new independent registered public accounting firm filed an amended Annual Report on Form 10-K/A.
As quoted in the press release:

The Amended Annual Report incorporates restated financial statements which properly account for all matters which were the subject of the prior conclusion that the Annual Report should no longer be relied upon. Such restatements resolve all issues which were the basis of the Company’s prior advice that the originally filed Annual Report should no longer be relied upon.
The need to file the Amended Annual Report also resulted in the Company being unable to timely file its Quarterly Report on Form 10-Q for the period ended September 30, 2017 (the “Quarterly Report”) with the Securities and Exchange Commission on a timely basis. The Quarterly Report is in process and the Company expects that it will be filed with the Securities and Exchange Commission within thirty (30) days.

Click here to read the full press release.