Going Concern Caveat Removed from Audit Report
LOS ANGELES, CA and NEWARK, NJ – February 5, 2025: IDW Media Holdings, Inc., (“IDW”) (OTCQB: IDWM), an integrated media company, today filed updated results for its fourth quarter and fiscal year ended October 31, 2024. Based on updated information received related to the recent Diamond Comic Distributors bankruptcy, the company’s auditors have concluded that, after analyzing the potential impact of the Diamond bankruptcy and the company’s financial condition, they do not need to express concern about the company’s ability to continue as a going concern and have updated their report on the company’s fiscal 2024 financial statements accordingly. The updated filing is now posted.
About IDW Media Holdings:
IDW (OTCQB: IDWM) is an integrated media company providing compelling stories and characters for global audiences. Our IDW Publishing and IDW Entertainment businesses acquire IP for holistic franchise development across comics and graphic novels, television and other entertainment platforms and leverage established stories from our creative partners.
Forward-Looking Statements:
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our Annual Report for the fiscal year ended October 31, 2024 (under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), and subsequent reports that we may make available. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
Company Contact:
Davidi Jonas
IDW Media Holdings, Inc.
david.jonas@idwmh.com