{"schema_version":"secwatch.filing_event.v1","accession":"0001079973-26-001283","form_type":"8-K","ticker":null,"cik":"0001690455","company_name":"Feel The World, Inc.","filed_at":"2026-09-25T20:28:16+00:00","discovered_at":"2026-09-25T20:31:24.523046+00:00","generated_at":"2026-10-12T13:23:48.775294+00:00","sec_items":["4.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Feel the World (XERO Shoes) to restate 2024-2025 financials after preferred stock misclassification","bullets":["Audit committee concluded on Sept 22, 2026 that audited FY2025 and FY2024 statements and interim Q1 2026/2025 statements should be restated and no longer be relied upon.","Series A Preferred Stock was misclassified since its Dec 2, 2020 issuance, carried at $368 par instead of accreted redemption value of $20,798,604 at March 31, 2026.","Senior Preferred Stock issued March 21, 2025 was carried at $50 par rather than net proceeds of $4,859,967; both instruments now reported in temporary equity.","Management identified a material weakness in internal control over complex equity instruments; restatement had no effect on total assets, revenue, net loss, cash flows or EPS.","Q1 2026 revenue was $15,983,170 with net income of $472,603, versus a Q1 2025 net loss of $1,712,095; cash fell to $5,598,365 from $10,134,276."],"urls":{"canonical":"https://secwatch.observer/filing/0001079973-26-001283","json":"https://secwatch.observer/filing/0001079973-26-001283.json","markdown":"https://secwatch.observer/filing/0001079973-26-001283.md","text":"https://secwatch.observer/filing/0001079973-26-001283.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1690455/000107997326001283/0001079973-26-001283-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1690455/000107997326001283/ftw_8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T13:23:48.775294+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}