Viveon Health Acquisition Corp. Received Audit Opinion with Going Concern Explanation

Rhea-AI Summary

Viveon Health Acquisition Corp. (NYSE American: VHAQ) disclosed in an announcement that its audited financial statements contain a going concern paragraph from its independent auditor. This disclosure complies with NYSE requirements and references the Annual Report on Form 10-K for the year ending December 31, 2021. The company is categorized as a SPAC, targeting potential mergers and acquisitions primarily in the North American healthcare sector. This announcement does not alter its previous financial statements.

Positive

• Focus on acquiring businesses in the North American healthcare sector, potentially expanding market opportunities.

Negative

• The presence of a going concern paragraph raises doubts about the company's ability to continue operations.

NEW YORK--(BUSINESS WIRE)-- Viveon Health Acquisition Corp. ("Viveon" or the "Company") (NYSE American: VHAQ) today announced that, as previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2021, which was filed on March 31, 2022 with the U.S. Securities and Exchange Commission, the audited financial statements contained an audit opinion from its independent registered public accounting firm that included an explanatory paragraph related to the Company's ability to continue as a going concern. See further discussion in footnote 1 to the Company's financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. This announcement is made pursuant to NYSE American LLC Company Guide Sections 401(h) and 610(b), which require public announcement of the receipt of an audit opinion containing a going concern paragraph. This announcement does not represent any change or amendment to the Company's financial statements or to its Annual Report on Form 10-K for the year ended December 31, 2021.

About Viveon Health Acquisition Corp.

Viveon Health Acquisition Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Although Viveon Health is not limited to a particular industry or geographic region for purposes of consummating an initial business combination, Viveon Health intends to focus on businesses that have their primary operations located in North America in the healthcare industry.

Forward-Looking Statements

This press release contains certain forward-looking statements that express our opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "seeks," "projects," "intends," "plans," "may," "will" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning the Company's performance, business and future events. Such forward looking statements are based on management's expectations, beliefs and forecasts concerning future events impacting Viveon. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, as well as assumptions, which, if they were to ever materialize or prove incorrect, could cause actual results to differ materially from the from the plans, objectives, expectations, estimates and intentions expressed or implied by such forward-looking statements. The forward-looking statements made in this press release speak only as of the date hereof and we disclaim any obligation, except as required by law, to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220429005532/en/

Rom Papadopoulos

CFO, Viveon Health Acquisition Corp.

404-861-5393

info@viveonhealth.com

Source: Viveon Health Acquisition Corp.

FAQ

What does the going concern paragraph in Viveon Health Acquisition Corp.'s audit opinion indicate?

It raises doubts about the company's ability to continue operations without additional financial support.

What is the significance of the announcement made by Viveon Health Acquisition Corp. regarding its financial statements?

The announcement is a compliance measure with NYSE requirements, acknowledging the going concern opinion from its auditor.

When was the Annual Report on Form 10-K for Viveon Health Acquisition Corp. filed?

It was filed with the SEC on March 31, 2022, covering the year ended December 31, 2021.

What is Viveon Health Acquisition Corp.'s focus as a SPAC?

The company aims to complete mergers and acquisitions within the healthcare industry, primarily in North America.

What is the stock symbol for Viveon Health Acquisition Corp.?

The stock symbol is VHAQ.