Business Context and Reporting Period
Company: Cherry Hill Mortgage Investment Corporation (CHMI)
Filing Type: Form 8-K (Current Report)
Date of Report: December 2, 2020
Reporting Period Affected: Year ended December 31, 2019 (Annual Report on Form 10-K filed February 27, 2020)
This filing addresses a correction to historical financial statements previously filed for the 2019 fiscal year. The Company is a Maryland corporation with securities registered on the NYSE.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This document serves solely to announce the correction of an accounting error and incorporates the corrected financial statements by reference in Exhibit 99.1.
Material Changes Versus Prior Period
- Accounting Error Correction: The Company identified an immaterial error in the calculation of the deferred tax asset/deferred tax liability in its historical financial statements.
- Scope of Correction: This error was previously corrected in the Form 10-Q for the quarter ended September 30, 2020. This Form 8-K extends the correction to the Annual Report on Form 10-K for the year ended December 31, 2019.
- Impact: The corrected consolidated financial statements and notes are filed as Exhibit 99.1 and replace Part II, Item 8 of the original 2019 10-K.
Guidance, Outlook, and Risks
Management Commentary: Management states that, except for the described revisions, no other disclosures in the consolidated financial statements have been modified or updated. The filing does not reflect events occurring after the date of the original 2019 10-K filing.
Risks and Contingencies: The filing notes that the error was immaterial. No new risks or contingencies are disclosed in this specific report; investors are directed to read this filing in conjunction with subsequent SEC filings for updated information.
Important Facts for Investor Verification
- Verify the specific adjustments to the deferred tax asset/liability by reviewing Exhibit 99.1 attached to this filing.
- Confirm that the corrected 2019 financial statements are consistent with the corrections made in the Q3 2020 Form 10-Q.
- Note that this filing does not contain updated operational data or guidance for periods after February 27, 2020.