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Investigations  /  06.01.2020

Investigation of PaySign, Inc.

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PaySign, Inc. (PAYS) Fails to Timely File its 2019 Annual Report

On March 16, 2020, PaySign announced that it would be unable to timely file its annual report for fiscal year 2019, stating “the filing extension will provide the necessary time to complete [PaySign’s] financial audit” and revealing it had identified “material weaknesses related to its assessment of internal controls over financial reporting and information technology general controls.” Then, on March 31, 2020, PaySign once again announced that it would be delaying the release of its 2019 financial results. On this news, shares of PaySign fell 16% to close at $4.35.

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