Current Report Filing (8-k)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

 

Date of Report (Date of earliest event reported): April 22, 2022

 

RASNA THERAPEUTICS, INC.

(Exact Name of Registrant as Specified in Charter)

 

Nevada		333-191083		39-2080103
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

420 Lexington Avenue, Suite 2525, New York, NY		10170
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: 646-396-4087

 

 

 

(Former name or former address, if changed since last report)

 

Copies to:

Jeffrey Fessler, Esq.

Sheppard, Mullin, Richter & Hampton LLP

30 Rockefeller Plaza

New York, New York 10112

Telephone: [phone]

Facsimile: [phone]

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered

 

 

 

 

 

 

Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

 

On April 22, 2022, Rasna Therapeutics, Inc. (the “Company”) after discussion with the Audit Committee of its Board of Directors concluded that the Company’s previously issued audited financial statements for the year ending September 30, 2021 should no longer be relied upon due to the Company incorrectly accounting for a provision relating to the modification of certain convertible notes. The Company incorrectly accounted for a gain on extinguishment of debt and the restatement will have an effect on the Company’s previously reported net loss and balance sheet.

 

As a result, the Company will restate its historical financial results for the Non-Reliance Period to reflect the change in accounting treatment (the “Restatement”). The Company intends to file an amendment to the Annual Report on Form 10-K/A for the period ended September 30, 2021 to reflect the Restatement as soon as practicable. In addition, the Company intends to file its Form 10-Q for the three months ended December 31, 2021 as soon as practicable.

 

The Audit Committee of the Company’s Board of Directors has discussed the matters disclosed in this Item 4.02 with Mazers USA LLP, the Company’s independent registered public accounting firm. 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Date: May 6, 2022

 

	RASNA THERAPEUTICS, INC.
	By:	/s/  Keeren Shah
		Name:	Keeren Shah
		Title:	Chief Financial Officer

 

 

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