A day after filing an 8-K featuring the audited results of its ReposiTrak unit and containing auditor HJ & Associates' opinion that ReposiTrak has going-concern risks, Park City Group (PCYG -0.5%) states the auditor's opinion was "included in error."
The company has filed an amended 8-K that doesn't feature the going-concern comments. Shares have all but eliminated the major after hours losses seen yesterday following the original 8-K filing.
Park City Group (NASDAQ:PCYG) has filed audited results for its recently-acquired ReposiTrak unit (provides supply chain and compliance software for the food and pharma industries) for FY15 (ended in June) and FY14. The company has also filed unaudited pro forma combined FY15 results for Park City and ReposiTrak.
HJ & Associates, the auditor for the first set of results, states the numbers "[raise] substantial doubt about the Company's ability to continue as a going concern." ReposiTrak had an FY15 net loss of $3.2M, and an FY14 net loss of $3M.
Park City has plunged to $9.00 in after hours trading.