ALT5 Sigma Faces Compliance Crisis After Auditor Switch Amid Filing Delays
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Auditor Change: ALT5 Sigma switched auditors on December 8, but the newly appointed firm, Victor Mokuolu CPA PLLC, has had its license inactive since August, preventing any legal audit work and exacerbating compliance issues.
- Financial Reporting Delays: The company faces potential Nasdaq delisting after failing to file its quarterly results for the period ending September, with shares plummeting over 77% since the start of 2025, indicating a severe loss of investor confidence.
- Audit Compliance Issues: The new auditing firm must complete a mandatory peer review expected by late January before it can resume audit work, delaying the restoration of financial transparency and impacting future fundraising capabilities.
- Management Turmoil: Board member David Danziger resigned last month, putting the company in violation of audit committee requirements, while Eric Trump serves only as a board observer, further undermining the stability of the company's governance structure.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
