---
schema_version: "secwatch.filing_event.v1"
accession: "0000943374-23-000191"
form_type: "8-K"
ticker: "ESOA"
cik: "0001357971"
company_name: "Energy Services of America CORP"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:49:01.380066+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Energy Services of America restates FY 2021-22 financials; $9.8M PPP loan forgiveness reversed

## Summary
- Audit committee concludes FY 2021-22 audited financials and several quarterly reports should no longer be relied upon.
- Company to reinstate $9.8M PPP loan liability plus accrued interest, decreasing net income by $10M in FY 2021.
- Current liabilities expected to increase by $10.1M for Q4 2022 and Q1 2023; net income adjustments of $25K-$100K for other periods.
- SBA review triggered restatement; company intends to file amended 10-K for FY 2022 and amended 10-Q for Dec 2022.
- Previously recorded $9.8M PPP loan forgiveness as other income in FY 2021 now subject to potential SBA reversal.

## SEC filing metadata
- accession: 0000943374-23-000191
- form_type: 8-K
- ticker: ESOA
- cik: 0001357971
- company_name: Energy Services of America CORP
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1357971/000094337423000191/0000943374-23-000191-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1357971/000094337423000191/form8k_051523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000943374-23-000191
- JSON: https://secwatch.observer/filing/0000943374-23-000191.json
- Plain text: https://secwatch.observer/filing/0000943374-23-000191.txt

## Key facts
- Auditor Changes
  Energy Services of America CORP reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Baker Tilly US, LLP
  source text: independent registered public accounting firm, Baker Tilly US, LLP (“Baker Tilly”), included in the Company’s annual reports on Form 10-K for the fiscal years ended September 30, 2022 and 2021, and (b) the Company’s unaudited consolidated financial statements for the periods ended June 30, 2021, December 31, 2021, March 31, 2022, June 30, 2022 and December 31, 2022 as reported in the Company’s quarterly reports on Form 10-Q for those periods (together, the “Reports”) should no longer be relied upon and will be restated (the “Restatement”). Also, management’s report on internal controls over financial reporting for the fiscal year ended September 30, 2022 should no longer be relied upon.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1357971/000094337423000191/0000943374-23-000191-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.