Summary by Futu AI
Celsius Holdings, Inc. has responded to a comment from the SEC's Division of Corporation Finance regarding its Annual Report on Form 10-K for the year ended December 31, 2023. The SEC staff had requested that Celsius Holdings revise its financial statements to comply with disclosure requirements for related party transactions as per Regulation S-X. Celsius Holdings acknowledged the SEC's comment and agreed to present related party transactions on the face of its financial statements, starting with its Quarterly Report for the quarter ended September 30, 2024. The company provided a draft of the proposed presentation of related party transactions in its consolidated balance sheets, statements of operations and comprehensive income, and statements of cash flows. The draft includes retrospective adjustments for a three-for-one stock split effective November 13, 2023. Celsius Holdings expressed appreciation for the SEC's commitment to transparent financial reporting and provided contact information for further communication.
