SS Innovations International, Inc. announced on December 11, 2024, that BDO India LLP completed the re-audit of its consolidated financial statements for the years ended December 31, 2023, and 2022. This re-audit was necessitated after the SEC barred the company's former auditor, BF Borgers CPA PC, in May 2024.
During an internal review and the re-audit, material errors were discovered in the original financial statements, leading to a restatement. The restated consolidated financials for 2023, as per the Form 10-K/A filed on December 6, 2024, resulted in an improved net worth position and slightly improved financial performance numbers for the year.
Concurrently, SS Innovations withdrew its pending Registration Statement on Form S-1 and affirmed its intention to proceed with an uplisting to Nasdaq or another National Securities Exchange as soon as possible, believing it meets the listing requirements without an offering. The company also reported over 2,500 robotic surgical procedures completed to date and systems installed in 5 countries.
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