5/5CXApp Inc. (CXAI): Non-reliance / restatement

Filed 2025-04-07 · Form 8-K · Accession 0001829126-25-002437 nano

Market data

Price before filing: $71 (2025-04-04 close, split/dividend-adjusted)
Market cap at flag: $24.0M (2025-04-07) · Latest: $1.6M (2026-10-16)

What happened next

Window	CXAI	SPY	vs SPY
30 days	-26.1%	+11.1%	-37.1%	2025-05-07
90 days	-33.1%	+23.2%	-56.3%	2025-07-07
180 days	-41.8%	+33.7%	-75.5%	2025-10-06

Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.

Insider trading around this filing

90 days before the flag: no open-market insider sales or purchases reported.
30 days after: none reported.

Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-01-07 to 2025-05-07. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.

Verified excerpt

"Restatement of Unaudited Condensed Financial Statements The Company's management and the Audit Committee of the Company's Board of Directors have concluded that the previously issued unaudited condensed consolidated financial statements as of and for the periods ended June 30, 2024 and September 30, 2024, as included in the Company's Quarterly Reports on Form 10-Q for such periods should no longer be relied upon and..."

Quoted from the filing. Source

What this means

The company says previously issued financial statements should no longer be relied upon (8-K Item 4.02). This is one of the most serious accounting red flags: past reported numbers were wrong and will be restated.

Why this score: also within 90 days: Going-concern doubt

Read the original filing on SEC.gov →