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- Restatement (new) — Company must restate Q1 2026 financials due to revenue recognition errors totaling $529K.
- Material Weakness (new) — Internal control deficiency over customer purchase order evaluation led to premature revenue recognition.
NeuroOne to restate Q1 2026 results after $529K revenue overstatement from control failures
Filed May 22, 2026 · Period ending May 21, 2026 · ~1 min read
Key Changes
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Company overstated Q1 2026 revenue by $529K and gross profit by $296K due to premature revenue recognition on modified customer purchase orders; losses were understated by the same amount
Item 4.02 verify on EDGAR → -
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Audit Committee determined Q1 financials filed May 12 can no longer be relied upon and must be restated; amended 10-Q to be filed as soon as practicable
Item 4.02 verify on EDGAR → -
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Root cause identified as inadequate internal controls over evaluating customer modified purchase orders; company states no intentional misconduct by management or employees
Item 4.02 verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · May 25, 2026 · How we verify