Trump-associated crypto company ALT5 Sigma hires auditor with expired license

not_your_keys · 2025-12-30T01:36:26+00:00

ALT5 Sigma appointed an auditor with an expired license, rendering it unable to legally conduct audit work. This NASDAQ-listed company faces compliance issues and delisting risks due to its failure to submit financial statements on time, with its stock price dropping over 77% since early 2025.

not_your_keys

2025-12-30 01:36:26

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Source: Yellow Original Title: Crypto Firm Linked to Trump ALT5 Sigma Hires Auditor with Expired License

Original Link: ALT5 Sigma Corporation appointed an auditor whose firm license expired in August and remains inactive.

According to reports, this NASDAQ-listed company hired Victor Mokuolu CPA PLLC in early December due to failure to submit Q3 financial statements on time.

Records from Texas show that the accounting firm’s license expired in August and was only reactivated on December 26.

What happened

ALT5 Sigma changed auditors on December 8 due to failure to report quarterly performance for the period ending in September.

The newly appointed firm, under Texas regulations, cannot legally conduct audits until its license is reactivated.

Although Victor Mokuolu updated his personal CPA license on August 31, the firm’s license remained inactive at the end of the year.

The company told media that the audit report will be issued only after the firm completes a mandatory peer review, expected to be finished by the end of January.

Regulatory records show that the audit firm previously faced compliance actions. The Public Company Accounting Oversight Board fined the firm $30,000 in 2023 for failing to report six audits of public companies.

The Texas State Board of Public Accountancy imposed an additional $15,000 fine in 2024 for similar violations.

Why this matters

Auditor issues have intensified ALT5 Sigma’s growing compliance challenges. The company is supported by World Liberty Financial (Trump family’s cryptocurrency enterprise).

The company now faces the risk of delisting from NASDAQ due to failure to submit required quarterly reports.

Since early 2025, its stock price has fallen over 77%.

Board member David Danziger resigned last month, causing the company to violate audit committee requirements.

Eric Trump currently serves only as an observer on the board; after discussions with NASDAQ, his role has been limited, preventing him from becoming an official board member.

The company has shifted from home appliance recycling to biotechnology, and then to fintech and cryptocurrency operations.

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