---
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"
generated_at: "2026-10-12T13:23:48.775294+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Feel the World (XERO Shoes) to restate 2024-2025 financials after preferred stock misclassification

## Summary
- 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.

## SEC filing metadata
- accession: 0001079973-26-001283
- form_type: 8-K
- cik: 0001690455
- company_name: Feel The World, Inc.
- filed_at: 2026-09-25T20:28:16+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001079973-26-001283
- JSON: https://secwatch.observer/filing/0001079973-26-001283.json
- Plain text: https://secwatch.observer/filing/0001079973-26-001283.txt

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