Company: CDT
Filing Date: 2025-08-14
Form Type: 8-K
Source: 0001641172-25-023840
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Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 8-K
Item: Item 4.02
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Item
4.02. Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

On
August 8, 2025, CDT Equity Inc. (the “ Company”) determined, after discussions with its advisors and CBIZ CPAs P. C., the Company’s
independent registered public accounting firm, that the Company’s previously issued unaudited financial statements, and
notes related thereto, for the Subject Period (as defined below) should no longer be relied upon due to the restatement described below
pertaining to the correct accounting treatment of certain milestone payments, totaling $0.4 million, made to Sarborg Limited (“ Sarborg”)
in connection with a Services Agreement (the “ Sarborg Service Agreement”) for the acquisition of a diagnostic tool used to
monitor clinical trials, aggregate data on an ongoing basis and tracking intellectual property patent status, which was previously classified
as research and development expense, but should have been classified as an acquired diagnostic asset in the Company’s March
31, 2025 condensed consolidated balance sheet in accordance with ASC 730.

In
connection with the review of the Company’s financial statements as of and for the quarter ended June 30, 2025, the Company, after
consideration with its advisors, determined that changes in the Company’s previously issued unaudited interim financial statements
as of and for the three months ended March 31, 2025 (the “ Subject Period”) are required to be made to the condensed consolidated
balance sheet, condensed consolidated statement of operations and comprehensive loss, the condensed consolidated statement of changes
in stockholders’ deficit and the condensed consolidated statement of cash flows with respect to the accounting treatment of certain
milestone payments to Sarborg. As a result, the Company plans to address the restatement and adjustment of its unaudited financial statements,
and notes related thereto for the Subject Period in amendments to the Quarterly Report on Form 10-Q for the Subject Period. The Company’s
management and members of the Audit Committee of the Board of Directors have discussed the matters disclosed in this Current Report on
Form 8-K pursuant to this Item 4.02 with CBIZ CPAs P. C.

Forward-Looking
Statements