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Critical incident detected

Existential event

Time-sensitive event — see the red-flag panel below for the source-quoted detail.

Red Flags Detected

  • Material Weakness (worsened) — Two new material weaknesses identified in addition to historical weakness: controls over stock-based compensation measurement and controls over significant transaction review/classification, resulting in material misstatements requiring restatement.
  • Going Concern (new) — Filing states that conditions raise substantial doubt about the company's ability to continue as a going concern. The same disclosure appeared in the baseline filing.
NASDAQ: NUAI New ERA Energy & Digital, Inc. 10-Q/A

NUAI restates Q1 2026 on material weaknesses; net loss widens 20% to $10.8M

Filed August 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2026 · ~2 min read

Key Financials

SEC XBRL

Period financials are unchanged from the original 10-Q (same period end Mar 31, 2026). This amendment updates disclosure only — see the diff below.

Key Changes

  • high

    Net loss for Q1 2026 restated from $9.0M to $10.8M, a 20% widening, driven by $3.4M upward revision to stock-based compensation expense (now $5.2M) and $288K revenue reduction. Operating loss widened 27% to $9.7M.

    MD&A: Restatement verify on EDGAR →
  • high

    Two new material weaknesses disclosed: controls over stock-based compensation measurement for performance/market-condition awards, and controls over review and classification of significant transaction costs. Remediation plan includes external technical accounting consultation.

    Controls and Procedures verify on EDGAR →
  • high

    State of New Mexico sued the company and CEO Gray alleging unjust enrichment, fraud against taxpayers, and oil/gas regulatory violations. Case stayed pending unrelated bankruptcy; company states internal investigation found no supporting facts but warns litigation may block planned legacy asset sales.

    Legal Proceedings: New Mexico Litigation 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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View original filing on SEC.gov

Figures/quotes linked to EDGAR · Narrative written by AI · Aug 17, 2026 · How we verify