**Kingstone Companies Discovers Calculation Error in Book Value per Share Figures****

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On November 15, 2024, Kingstone Companies, Inc. (NASDAQ: KINS) discovered an error in its calculation of book value per share figures for the period ending September 30, 2024. The company issued a statement correcting the previously announced values.

In a press release dated November 12, 2024, Kingstone Companies had initially reported a book value per share – diluted and book value per share – diluted excluding accumulated other comprehensive income (“AOCI”) as $4.58 and $5.28, respectively, as of September 30, 2024. These figures were also presented during the company’s quarterly conference call for analysts and investors on November 13, 2024.

Upon review on November 15, 2024, Kingstone Companies identified that the calculation was based on an incorrect number of shares of common stock outstanding on a fully diluted basis for the September 30, 2024, period. After the correct number of shares was accounted for, the accurate book value per share – diluted and book value per share – diluted excluding AOCI were $4.32 and $4.97, respectively.

The company clarified that this information provided is not to be considered as “filed” for purposes of Section 18 of the Securities Exchange Act of 1934. It will not be subject to the liabilities of that section, nor will it be incorporated by reference into any other filing under the Securities Act of 1933 or the Exchange Act, except as specifically referenced in such a filing.

No further details were disclosed in the filing beyond the correction of the previously reported figures.

This report confirms the importance of accurate financial reporting and the diligence required in ensuring precise calculations for investors and shareholders. Kingstone Companies aims to maintain transparency and accuracy in its financial disclosures to provide stakeholders with reliable information about the company’s performance.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kingstone Companies’s 8K filing here.

Kingstone Companies Company Profile

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.