Good afternoon, everyone, and welcome. I will now turn it over to Aaron Miles, Chief Investment Officer.
Thank you. Good afternoon, everyone. I'm joined today by George Archos, Chief Executive Officer and Founder; Brett Summerer, Chief Financial Officer; and Darren Weiss, Chief Operating Officer and General Counsel. Before I turn this call over to George, I wanna highlight that during this call, we will discuss our business outlook and make forward-looking statements, which are based on management assumptions and expectations. Please note we will have a Q&A session after our prepared commentary, but we are going to keep the discussion only to the topic at hand. With that, I'll now turn the call over to George.
Good afternoon, everyone. Thank you for joining us on such short notice. By now, you have seen the news that we will be rescheduling our fourth quarter and full year 2021 earnings release. Although we are disappointed that we are not able to share our results with you tomorrow, we are here this afternoon to provide context and additional color as we strive to be as transparent as possible with our investors, stakeholders, and the general public. Though we felt it was prudent to reschedule, we remain excited to share our results with you. Going forward, we are confident in our ability to report in a timely and efficient manner. I will now turn it over to Brett to provide some additional detail.
Thanks, George. I have had an extremely busy first few months on the job. When I stepped in as CFO, we were in the midst of transitioning to a new auditor, as well as converting three years of IFRS financials to U.S. GAAP. As you also know, in 2021, we completed our RTO and announced 18 acquisitions, all of which contribute to the complexity of the task at hand. This effectively means we've been undergoing multiple audits with two accounting firms in parallel. With two accounting firms, we occasionally had differing opinions regarding technical accounting methodology on certain issues. These disagreements resulted in delays to the audit timeline. We were confident in the date originally announced as we received assurances from our auditing partners throughout the process.
Ultimately, a disagreement in application of accounting principles associated with a single transaction in 2019, which was under review by both auditors, drove a delay which forced our hand today. We've been advised that our U.S. GAAP historical financials are complete. Our current auditor believes our 2021 U.S. GAAP financials are also complete, subject only to final internal review process with the accounting firm. I just wanted to stress that these developments are unique to 2021 full year and have no implications on our ability to timely report 2022 financials going forward. It is purely a result of the combination of multiple auditors, IFRS versus U.S. GAAP, the RTO, and 18 acquisitions all happening concurrently. We're looking forward to the conclusion of the audit and the subsequent release of our 2021 financials. Now, I'll turn it over to George for some closing comments.
We understand that there is a process that auditors must follow, and it is one that we can't dictate. However, I want to be abundantly clear here. I have the utmost confidence that this is an isolated incident related to items out of our control. To that end, we anticipate announcing a rescheduled fourth quarter and full year 2021 earnings date shortly, alongside a first quarter 2022. Operator, you now may open up for a brief Q&A.
Ladies and gentlemen, if you have a question at this time, please press star and then the number one key on your touchtone telephone. Again, that is star one on your telephone keypad. We'll pause for just a moment to compile the Q&A roster. Your first question is from Camilo Lyon from BTIG. Your line is open.
Hi. Good afternoon, everyone. I can appreciate your frustration in not being able to communicate the results. I was wondering if you can convey any sort of detail either on when you would expect to report the now Q4 and Q1 results. It's not like you're gonna do both concurrently. If you're able to convey even top line and EBITDA numbers for Q4.
Right now, given that we're so close to issuing the final Q4 and we're at the very tail end of the process, we don't feel it makes any sense to communicate anything out of turn, and we wanna wait for the process to fully complete. Right now, I don't believe we have any intention of communicating Q4 along with Q1. We would still have our release for both. In terms of, you know, any forward-looking statements right now, again, it's not appropriate for us to share anything at this time.
Okay. Sorry. Maybe I misunderstood, George, when you said that in your final statements that you would announce Q4 alongside your Q1. Is there any sort of guidelines you can provide in terms of when you might be able to present these numbers?
Camilo. This is George. What I meant is when we announce 2021 financials year-end, we'll announce a date for our Q1 2022. Since the financials are complete, we anticipate doing it in pretty short order. However, we don't wanna give a date today just because of what happened last night. We'd rather have the final sign-off, but I anticipate it'll happen in very short order.
Understood. Okay. Got it. Thanks very much. I'll get back in queue.
Your next question is from Matt Bottomley. Your line is open.
Hi, guys. Thanks for having the call here just for us to be able to chat on some of the variables if appropriate to. I'm just curious, in the remarks that you made at the beginning, is this related to one particular transaction of the 18, or is it an accounting methodology that might relate to more than one that's more pervasive than that?
This only has to do with one transaction. It's a single dispensary that happened in 2019, has no bearing on 2021 whatsoever, which makes it quite frustrating for us. It's just a differing opinion on consolidation between two different auditing firms. They just couldn't come to a conclusion. They thought they were done, but you know, they decided to butt heads instead, and here we are today. We'll be done very soon, and we're excited to get our numbers out.
Matt, this is Aaron. I think, you know, the big thing we wanna get across on this is, you know, we did get assurances on the date, and this is something that popped up, you know, we're obviously addressing and something that is not ideal, but, you know, the biggest thing that we want everyone to get, you know, out of this call is the stable footing that we've really started to establish in Q4, right? Like, we're getting through a multitude of items, the conversion from IFRS to GAAP and everything else that Brett had mentioned. Going forward, we really wanna reiterate the fact that we're getting to a regular cadence with our earnings calls.
Okay. I imagine you can't comment, but I figured I'd ask anyways. Are you able to say if this is material or not to the eventual results that come out, depending on the outcome? Or can you say if it's just immaterial given it's one dispensary?
This is just a single dispensary purchased two years ago. You know, it's not a major item.
Okay. Thanks, guys.
Again, that is star one on your telephone keypad to ask a question. All right. I'm showing no further questions at this time. I would now like to turn the call back to the presenters for any additional or closing comments.
Thank you everyone for joining today, and we look forward to talking soon. Have a good day.
Thank you.
Ladies and gentlemen, this does conclude today's conference. Thank you for participating, and have a great day.