American Marconi Wireless News - Luminar Media Group, Inc. (LRGR) Announces Completion of Audits for Fiscal Years 2023 and 2024

Turner Stone & Company, a PCAOB-registered public accounting firm, has completed its audits and issued unqualified (clean) audit opinions on Luminar's consolidated financial statements for the fiscal years ended December 31, 2023 and 2024. Completion of the audits represents an important reporting milestone and reflects the Company's continued focus on strengthening its financial reporting framework.

Management Commentary

"Completing this audit required a high level of coordination, discipline, and execution across multiple teams," said Yoel Damas, President and Chief Executive Officer of Luminar Media Group, Inc. "I would like to sincerely thank our accounting advisors at L&L CPAs, our capital-markets advisors at Greentree Financial Group, Inc., and our auditors for their professionalism and commitment throughout this process."

Mr. Damas added, "Special recognition goes to Juan Sese for effectively coordinating the many moving parts required to bring this effort together. This was truly a team effort, and we appreciate the dedication and diligence of everyone involved."

No Offer or Solicitation

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Cautionary Note Regarding Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as "may," "should," "could," "would," "will," "expect," "anticipate," "intend," "plan," "believe," "estimate," "continue," "potential," and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding the Company's expectations regarding the implications of completing its audits for the fiscal years ended December 31, 2023 and December 31, 2024, including its expectations regarding future financial reporting and, to the extent applicable, the timing and content of any future SEC filings that may include such audited financial statements.

PR Audit Complete

These forward-looking statements are based on current expectations and assumptions that involve risks and uncertainties, including, among others, that the Company will be able to finalize and maintain its financial reporting and disclosure controls as expected; that any additional review processes, including by auditors, advisors, or regulators, will proceed as anticipated; that no new information becomes available that would require revisions to previously completed work; that market, economic and competitive conditions will remain favorable; and that the Company will be able to maintain sufficient liquidity and operational flexibility. There can be no assurance that these assumptions will prove accurate.

Actual results could differ materially from those anticipated due to a variety of risks and uncertainties, including, without limitation, the risk that additional review or diligence identifies matters requiring further analysis or revisions; that the timing, content, or feasibility of any future SEC filings is delayed or changes for any reason; changes in accounting standards or interpretations; changes in regulatory or legal requirements; general economic, market, and geopolitical conditions; and other risks described in the Company's filings with the Securities and Exchange Commission.

Except as required by law, Luminar Media Group, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact:

Investor Relations:
James Carbonara
Hayden IR
(646) 755-7412
[email protected]

SOURCE: Luminar Media Group, Inc.

View the original press release on ACCESS Newswire

Ch.Kahalev--AMWN