20-F/A: Cheer Holding Files Amended 20-F to Include Critical Audit Matter

Cheer Holding, Inc. files an amendment to its annual report on Form 20-F to include a Critical Audit Matter (CAM) inadvertently omitted in the original filing.

Summary

• Cheer Holding, Inc. has filed Amendment No. 1 to its Annual Report on Form 20-F for the fiscal year ended December 31, 2023.
• The amendment was filed at the request of the company's auditor, Assentsure PAC, to include a Critical Audit Matter (CAM) that was inadvertently omitted from the original filing.
• The original Form 20-F was filed on March 14, 2024.
• The consolidated financial statements and notes remain the same as in the previously filed Form 20-F.
• The amendment includes new certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002.
• As of December 31, 2023, Cheer Holding, Inc. had 10,070,012 ordinary shares outstanding.

Sentiment

Score: 7

Explanation: The sentiment is neutral as the filing is a routine amendment to correct an omission. While the initial omission is a negative, the company is taking corrective action.

Positives

• The company is addressing the auditor's request by filing the amendment.
• The CEO and CFO have certified the accuracy and compliance of the report.
• The auditor has consented to the incorporation by reference of their report in the company's registration statements.

Negatives

• The original filing omitted a Critical Audit Matter (CAM), requiring an amendment.

Risks

• The omission of the CAM in the original filing could raise concerns about the company's internal controls and financial reporting processes.

Future Outlook

The filing of this amendment does not update any information contained in the original Form 20-F to give effect to any subsequent events.

Management Comments

• Bing Zhang, CEO and CFO, certifies the accuracy and compliance of the report under Sections 302 and 906 of the Sarbanes-Oxley Act.

Industry Context

This filing is a routine amendment to comply with SEC regulations and auditor requirements for publicly traded companies.

Comparison to Industry Standards

• The company's actions are consistent with standard practices for publicly traded companies to ensure accurate and compliant financial reporting.
• The inclusion of certifications from the CEO and CFO aligns with Sarbanes-Oxley Act requirements, which are common across US-listed companies.

Stakeholder Impact

• The amendment aims to ensure accurate financial reporting, which is important for maintaining investor confidence.

Key Dates

Keywords

20-F/A, Amendment, Critical Audit Matter, Financial Reporting, Sarbanes-Oxley Act, Cheer Holding, Assentsure PAC, Audit