---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-23-007215"
form_type: "8-K"
ticker: "NTIC"
cik: "0000875582"
company_name: "NORTHERN TECHNOLOGIES INTERNATIONAL CORP"
filed_at: "2023-11-21T23:59:59+00:00"
generated_at: "2026-06-07T23:05:05.720518+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NTIC to restate Q2 and Q3 FY2023 results; net income lowered by ~$474k and $466k

## Summary
- Prior financials for Feb 28, 2023 and May 31, 2023 should no longer be relied upon; amendments to 10-Qs will be filed.
- ERCs incorrectly recognized as income; restatement reduces net income attributable to NTIC by $474k (Q2) and $466k (Q3).
- Material weakness in internal control over financial reporting related to probability assessment for ERC recognition.
- Management plans to implement additional control procedures to remediate the material weakness.

## SEC filing metadata
- accession: 0001171843-23-007215
- form_type: 8-K
- ticker: NTIC
- cik: 0000875582
- company_name: NORTHERN TECHNOLOGIES INTERNATIONAL CORP
- filed_at: 2023-11-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/875582/000117184323007215/0001171843-23-007215-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/875582/000117184323007215/f8k_112123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-23-007215
- JSON: https://secwatch.observer/filing/0001171843-23-007215.json
- Plain text: https://secwatch.observer/filing/0001171843-23-007215.txt

## Key facts
- Auditor Changes
  NORTHERN TECHNOLOGIES INTERNATIONAL CORP reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On November 17, 2023, the management and Audit Committee of the Board of Directors of Northern Technologies International Corporation (the "Company" or "NTIC") determined that the Company’s consolidated financial statements for the three and six months ended February 28, 2023 and three and nine months ended May 31, 2023 require restatement to correct the accounting treatment of employee retention credits
  evidence_url: https://www.sec.gov/Archives/edgar/data/875582/000117184323007215/0001171843-23-007215-index.htm

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