Signing Day Sports Provides Announcement on 2024 Annual Report
Rhea-AI Summary
Signing Day Sports (NYSE American: SGN), a company focused on developing an app and platform for high school athlete recruitment, has announced that its audited consolidated financial statements for FY2024 received an audit opinion containing a going concern qualification from its independent registered public accounting firm.
The announcement, made on April 11, 2025, is in compliance with Sections 401(h) and 610(b) of the NYSE American Company Guide disclosure requirements. The Company clarified that this disclosure does not represent any changes or amendments to their fiscal year 2024 filings.
Positive
- None.
Negative
- Received going concern qualification from auditors, indicating substantial doubt about company's ability to continue operations
- Potential risk to NYSE American listing status due to going concern issues
News Market Reaction
On the day this news was published, SGN declined 6.83%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SCOTTSDALE, Ariz., April 11, 2025 (GLOBE NEWSWIRE) -- Signing Day Sports, Inc. (“Signing Day Sports” or the “Company”) (NYSE American: SGN), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today advises that its audited consolidated financial statements for the fiscal year ended December 31, 2024, included in the Company’s Annual Form on Form 10-K filed with the Securities and Exchange Commission on April 11, 2025, were accompanied by an audit opinion from its independent registered public accounting firm that contains a going concern emphasis or qualification. Release of this information is required by Sections 401(h) and 610(b) of the NYSE American LLC Company Guide. It does not represent any change or amendment to any of the Company’s filings for the fiscal year ended December 31, 2024.
About Signing Day Sports
Signing Day Sports’ mission is to help student-athletes achieve their goal of playing college sports. Signing Day Sports’ app allows student-athletes to build their Signing Day Sports recruitment profile, which includes information college coaches need to evaluate and verify them through video technology. For more information on Signing Day Sports, go to https://bit.ly/SigningDaySports.
Investor Contacts:
Crescendo Communications, LLC
212-671-1020
SGN@crescendo-ir.com
FAQ
What does the going concern qualification mean for Signing Day Sports (SGN) stock?
When did Signing Day Sports (SGN) receive the going concern qualification?
Is Signing Day Sports (SGN) making changes to their 2024 financial statements?
Why did Signing Day Sports (SGN) make this announcement?
