Flotek industries - while preparing form 10-q, co identified 2 deficiencies in internal control over financial reporting
Flotek industries - while preparing form 10-q for quarter-ended march 31, 2020 co identified 2 deficiencies in internal control over financial reporting.flotek - co did not, as of dec. 31, 2019, maintain effective internal controls over elimination of intercompany profits in inventory from sept. 1, 2018 to dec. 31, 2019.flotek industries - does not believe control deficiencies resulted in material misstatement of co's financial statements in its form 10-k for fy 2019.flotek industries - determined that control deficiencies constitute material weaknesses in its internal control over financial reporting as of dec 31, 2019.flotek -principal executive officer and principal financial officer concluded disclosure controls and procedures were not effective as of dec. 31, 2019.flotek industries inc - expects to file an amended form 10-k and file form 10-q as soon as practicable, but prior to june 24, 2020.flotek -will continue to evaluate internal controls and monitor effectiveness of actions taken to remediate control deficiencies.
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