---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-22-082892"
form_type: "8-K"
ticker: null
cik: "0001810140"
company_name: "Polished.com Inc."
filed_at: "2022-12-27T23:59:59+00:00"
generated_at: "2026-06-20T22:54:26.582338+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Auditor resigns; Polished to restate Q1 2022 revenue down $6-8M; former CEO settles for ~$800k expense reimbursement

## Summary
- Auditor Friedman LLP resigned after internal investigation findings of possible material adjustments to prior financials.
- Polished expects to restate Q1 2022: revenue reduction of $6-8M, COGS reduction of $5-7M, operating income down $1-2M.
- No material restatement expected for FY2021; new auditor Sadler, Gibb & Associates engaged to re-audit FY2021 and review Q2/Q3 2021 and Q1 2022.
- Former CEO Albert Fouerti agreed to reimburse ~$800k in non-company expenses and investigation costs; non-compete and non-solicitation included.
- Company withdraws prior FY2022 guidance from former management; cites economic headwinds and margin pressures.

## SEC filing metadata
- accession: 0001213900-22-082892
- form_type: 8-K
- cik: 0001810140
- company_name: Polished.com Inc.
- filed_at: 2022-12-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.01, 8.01, 4.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1810140/000121390022082892/0001213900-22-082892-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810140/000121390022082892/ea170694-8k_polished.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-22-082892
- JSON: https://secwatch.observer/filing/0001213900-22-082892.json
- Plain text: https://secwatch.observer/filing/0001213900-22-082892.txt

## Key facts
- Auditor Changes
  Friedman LLP resigned as auditor of Polished.com Inc..
  - Action: resignation
  - Auditor: Friedman LLP
  source text: (a) Resignation of Independent Registered Public Accounting Firm On December 20, 2022, Polished.com Inc. (the “Company”) received a letter (the “Letter”) from the Company’s independent registered public accounting firm, Friedman LLP (“Friedman”), informing the Company of its decision to resign effective December 20,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810140/000121390022082892/0001213900-22-082892-index.htm
- Auditor Changes
  Polished.com Inc. engaged Sadler, Gibb & Associates, LLC as its auditor.
  - Action: engagement
  - Auditor: Sadler, Gibb & Associates, LLC
  source text: On December 26, 2022, the Audit Committee approved the engagement of Sadler, Gibb & Associates, LLC (“Sadler”) as the Company’s independent registered public accounting firm for the fiscal years ended December 31, 2022 and 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810140/000121390022082892/0001213900-22-082892-index.htm

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