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New Horizon Aircraft Ltd.

Company NameNew Horizon Aircraft Ltd.
Stock SymbolHOVR

On April 22, 2024, New Horizon disclosed that previously issued financial statements for the year ended May 31, 2023 and the period ended August 31, 2023 should no longer be relied upon due to “the deferred development costs recorded by Robinson Aircraft Ltd. f/k/a Robinson Aircraft ULC” being “more appropriately classified as research and development costs.”

On this news New Horizon’s stock price fell $0.12, or 4.8%, to close at $2.29 per share on April 22, 2024, thereby injuring investors.

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