secwatch.observer — SEC 8-K summary
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Issuer:     Inspirato Inc (—)
CIK:        0001820566
Form:       8-K
Filed at:   2022-11-23T23:59:59+00:00
Accession:  0001104659-22-121731
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Inspirato receives Nasdaq delisting notice for late Q3 filing; restates Q1, Q2 2022 financials
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- Received Nasdaq notice on Nov 18, 2022 for failing to file Q3 2022 10-Q by due date; must submit plan by Jan 17, 2023.
- Restating Q1 and Q2 2022 financials for lease accounting errors (ASC 842); total assets/liabilities understated ~5% each period.
- Cost of revenue misstated: understated ~1% in Q1, overstated ~5% in Q2; no material impact on revenue or operating cash flow.
- Management concluded disclosure controls ineffective due to unremediated material weaknesses; remediation plan under development.
- If compliance not regained by May 15, 2023 (if plan accepted), Class A common stock and warrants subject to delisting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820566/000110465922121731/0001104659-22-121731-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820566/000110465922121731/tm2231210d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-121731

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