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On April 18, 2022, Enservco disclosed in a filing with the U.S. Securities and Exchange Commission that it had “concluded that the Company’s previously issued condensed consolidated financial statements as of and for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 (collectively, the ‘Relevant Periods’) should no longer be relied upon due to the Company’s utilization of certain deferred tax liabilities in 2021″ and that “[t]he Company intends to amend its Quarterly Reports on Form 10-Q for the Relevant Periods to reflect restatements of its condensed consolidated financial statements for the Relevant Period.”
On this news, Enservco’s stock price fell sharply during intraday trading on April 19, 2022.