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Asta: Item 2.02 Results Of Operations And Financial Condition

The following excerpt is from the company's SEC filing.

On June 26, 2015, Asta Funding, Inc. (the Company) determined to restate the three quarterly Reports on Form 10-Q for the quarterly periods ended December 31, 2013, March 31, 2014 and June 30, 2014, following management review of the matter with the Audit Committee of the Firms Board of Directors. See Item 4.02(a) below for additional information about the restatement and related matters.

Item 4.02(a) Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review

On June 26, 2015, the Company. restated its previously-filed interim financial statement s for the three quarters of fiscal year 2014. The restatement had an effect of reducing the Companys reported net income for the nine months ended June 30, 2014 by $3.6 million. We previously reported finance income for certain portfolios of consumer receivables acquired for...


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