New Era Energy & Digital says March-quarter financials no longer reliable, plans restatement
NUAI•Accounting errors and acquisition review
About $1.4 million of legal and professional fees were booked as general and administrative expense but should have been deferred as debt or equity issuance costs.
Errors were also found in ASC 718 accounting for executive performance stock units; the impact could be material.
The company is also reviewing fair value components of its January 2026 buyout of Texas Critical Data Centers’ remaining 50% stake.
Audit committee says Q1 2026 filing should no longer be relied on
New Era Energy & Digital’s audit committee ruled its Q1 2026 Form 10-Q should no longer be relied on.
An amended filing will restate financials to correct misclassified fees tied to acquisition and financing transactions.
