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 Addressed: Quarter ended June 30, 2020
This filing serves to correct immaterial errors previously identified in the Company's historical financial statements. The errors relate to the calculation of deferred tax assets and deferred tax liabilities. While the errors were initially corrected in the Form 10-Q for the quarter ended September 30, 2020, this 8-K specifically updates the financial statements for the quarter ended June 30, 2020, which were originally filed on August 10, 2020.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the procedural correction of accounting errors regarding deferred tax calculations. The corrected consolidated financial statements and notes are included as Exhibit 99.1, which replaces and supersedes Part I, Item 1 of the original Form 10-Q.
Material Changes Versus Prior Period
The only material change disclosed in this filing is the revision of historical financial data to correct the immaterial errors in deferred tax asset/liability calculations. The Company states that, except for these specific revisions, no other disclosures contained in the consolidated financial statements or notes have been modified or updated. All other information remains unchanged from the original filing date of August 10, 2020.
Guidance, Outlook, and Risks
Management Commentary: Management confirms that the corrected financial statements have been updated in compliance with generally accepted accounting principles (GAAP) solely to address the identified errors.
Subsequent Events: This report does not reflect events occurring after the date of the original Form 10-Q filing for the quarter ended June 30, 2020, nor does it update disclosures for previously disclosed subsequent events.
Risks and Contingencies: No new risks or contingencies are disclosed in this filing. Investors are advised to read this report in conjunction with the Company's subsequent filings with the SEC.
Important Facts for Investor Verification
- Verify the corrected figures for deferred tax assets and liabilities in Exhibit 99.1 of this filing.
- Confirm that the corrected financial statements replace the original Part I, Item 1 of the Form 10-Q filed on August 10, 2020.
- Note that this filing does not contain updated operational data, guidance, or results for periods after June 30, 2020.
- Review subsequent SEC filings for any further updates or events occurring after the original June 30, 2020 reporting period.