secwatch.observer — SEC 8-K summary
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Issuer:     NITCHES INC (—)
CIK:        0000772263
Form:       8-K
Filed at:   2025-07-15T23:59:59+00:00
Accession:  0001139020-25-000225
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nitches restates FY2023 financials due to errors in non-cash interest and derivatives
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- Board determined FY2023 annual and certain quarterly financial statements are no longer reliable due to material misstatements.
- Errors identified in treatment of non-cash interest, changes in derivative liabilities, and valuation of stock issuances.
- Restated financials to be filed as amendments to 10-K for FY2023 and affected 10-Qs as soon as practicable.
- Newly appointed auditor RBSM LLP will finalize audit of the restated periods.
- Investors advised not to rely on the prior financial statements until restatements are completed and filed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/772263/000113902025000225/0001139020-25-000225-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/772263/000113902025000225/nich-20250710.htm
  HTML page:      https://secwatch.observer/filing/0001139020-25-000225

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