The Thailand Securities and Exchange Commission has instructed Eternal Energy Public Company Limited to rectify its financial statements for the year 2023 and the third quarter of 2024, have the corrected statements audited and reviewed by its auditor, and submit them to the SEC with simultaneous disclosure via the Stock Exchange of Thailand’s SETLink system by 10 February 2025. The SEC’s concerns relate to the reasonableness and appropriateness of assumptions used to calculate recoverable amounts and impairment losses linked to Cannabiz way Co., Ltd and CBD Bioscience Co., Ltd, which could affect both consolidated and separate financial statements. Eternal Energy must review and adjust cash-flow projection assumptions used in impairment testing, reassess impairment losses for goodwill and investments in subsidiaries, assess impairment for other assets such as property, plant and equipment, evaluate the adequacy of inventory allowances, and review and adjust inputs used to measure the fair value of biological assets. In addition to submitting the rectified, audited and reviewed financial statements, the company must report related rectification information under Section 56 of the Securities and Exchange Act and publicly disclose both the corrected financial statements and the rectification report via SETLink by 10 February 2025.

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