RONAN, Mont., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Montana Technologies Corporation (NASDAQ:AIRJ), ("Montana Technologies" or the "Company"), the developer of the transformational AirJoule® technology for atmospheric water generation, today announced it will be restating its previously issued unaudited financial statements for the three months ended March 31, 2024. Investors should no longer rely upon the previously issued financial statements cited above. Similarly, any earnings releases and other investor communications derived from such financial statements should no longer be relied upon. The Company's Board of Directors, in consultation with management and upon the recommendation of the Audit Committee of the Board of Directors, made the decision to restate the first quarter financial statements following the results of a Company-initiated consultation process with the Securities and Exchange Commission (the "SEC"). In the Company's first quarter financial statements, the Company consolidated the assets and operations of its AirJoule joint venture into its financial statements, but the Company has subsequently determined that the Company's interest in the AirJoule joint venture should instead have been accounted for based upon the equity method of accounting. The Company intends to correct the error referenced above in an amendment to its Form 10-Q initially filed with the SEC on May 20, 2024 for the quarter ended March 31, 2024. The amendment will be filed with the SEC as soon as possible. Forward Looking Statements