Business Context and Reporting Period
Company: Kingstone Companies, Inc. (KINS)
Filing Type: Form 8-K (Current Report)
Date of Report: November 15, 2024
Subject: Correction of previously disclosed book value per share figures for the period ended September 30, 2024.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity figures. It specifically addresses a calculation error regarding book value per share.
| Metric | Previously Reported (Nov 12, 2024) | Corrected Value (Nov 15, 2024) |
|---|---|---|
| Book Value Per Share - Diluted (as of Sept 30, 2024) | $4.58 | $4.32 |
| Book Value Per Share - Diluted Excluding AOCI (as of Sept 30, 2024) | $5.28 | $4.97 |
Material Changes
The Company identified that the book value per share figures announced on November 12, 2024, were calculated using an incorrect number of common shares outstanding on a fully diluted basis. The corrected figures are lower than the previously reported amounts due to the adjustment in the share count denominator.
Management Commentary and Risks
Management Commentary: The error was discovered on November 15, 2024, following the initial press release and quarterly conference call. The correction reflects the accurate fully diluted share count as of September 30, 2024.
Legal Disclaimer: The information furnished under Item 2.02 is not deemed "filed" for purposes of Section 18 of the Exchange Act and is not subject to the liabilities of that section, nor is it incorporated by reference into other filings unless expressly stated.
Investor Verification Checklist
- Verify the corrected book value per share figures ($4.32 and $4.97) against the original press release from November 12, 2024.
- Confirm the updated fully diluted share count used in the corrected calculation.
- Review the original quarterly conference call transcript to understand the context of the initial disclosure.
- Note that this filing does not provide updated revenue, earnings, or cash flow data.