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Cover - shares | 3 Months Ended |
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Sep. 30, 2024 | Nov. 11, 2024
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Document Type | 10-Q/A |
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Amendment Description | EXPLANATORY NOTE Renovaro Inc. (the “Company”, “we”, “our”, or “us”) is filing this Amendment No. 1 to its Quarterly Report on Form 10-Q/A (this “Amendment”) to amend its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, as filed with the Securities and Exchange Commission (the “SEC”) on November 14, 2024, (the “Q1 2025 Form 10-Q”) to (i) restate its financial statements as of and for the periods September 30, 2024, which should no longer be relied on and are being restated herein; and (ii) describe the restatement and its impact on previously reported amounts. We are filing this Amendment to amend and restate the Q1 2025 Form 10-Q with modifications as necessary to reflect these restatements. Background of Restatement On February 18, 2025, the Audit Committee (the “Audit Committee”) of the Board of Directors of the Company, based on the recommendation of the Company’s management, and after consultation with the Company’s independent registered public accounting firm, concluded that the Company’s previously issued unaudited interim condensed consolidated financial statements for the quarter ended September 30, 2024 contained a material misstatement related to the exercising of certain warrants which impacted the change in fair value of the contingent consideration liability during the year ended June 30, 2024. Accordingly, those financial statements should no longer be relied upon. Similarly, related reports filed with the Securities Exchange Commission (the “SEC”), earnings releases, press releases, shareholder communications, investor presentations or other communications describing relevant portions of the September 30, 2024, financial statements should no longer be relied upon. The Company is restating the September 30, 2024, financial statements within this Amendment. During the preparation of the Company’s Form 10-Q for the period ended December 31, 2024, the Company determined that certain warrants which were exercised during the three months ended March 31, 2024, had not been appropriately reflected as a component of the change in fair value of the contingent consideration during the three and nine months ended March 31, 2024. This impacted the September 30, 2024 consolidated balance sheet and September 30, 2024 statement of stockholders’ equity. Refer to “Note 2 - Restatement of Previously Issued Financial Statements” of “Part I - Item 1. Financial Statements” (“Note 2”) for additional information. Internal Control Considerations Due to discovery of the error, the Company’s management re-evaluated the effectiveness of the Company’s internal control over financial reporting (“ICFR”) as of September 30, 2024 and believes the error relates to and is the result of a previously identified and reported material weakness which has been disclosed in our Form 10-K/A filed on February [], 2025. The material weakness remained in place as of September 30, 2024. For a discussion of management’s consideration of disclosure controls and procedures, internal controls over financial reporting and the material weaknesses identified, see “Part I - Item 4. Controls and Procedures” of this Amendment. |
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Document Period End Date | Sep. 30, 2024 |
Document Fiscal Period Focus | Q1 |
Document Fiscal Year Focus | 2025 |
Current Fiscal Year End Date | --06-30 |
Entity File Number | 001-38758 |
Entity Registrant Name | Renovaro Inc. |
Entity Central Index Key | 0001527728 |
Entity Tax Identification Number | 45-2559340 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 2080 Century Park East |
Entity Address, Address Line Two | Suite 906 |
Entity Address, City or Town | Los Angeles |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 90067 |
City Area Code | 305 |
Local Phone Number | 918-1980 |
Title of 12(b) Security | Common Stock, par value $0.0001 per share |
Trading Symbol | RENB |
Security Exchange Name | NASDAQ |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding |  | 158,717,342

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