---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-017792"
form_type: "8-K/A"
ticker: "SGLY"
cik: "0001422892"
company_name: "Singularity Future Technology Ltd."
filed_at: "2023-03-06T23:59:59+00:00"
generated_at: "2026-06-18T11:23:06.813909+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Singularity Future Technology restates FY2021 and FY2022 Q1/Q2 financials; net loss increased by $4.6M and $2.2M

## Summary
- Non-reliance on FY2021 financials due to $4.6M related party loan error; net loss revised from $6.7M to $11.3M.
- Non-reliance on Q1/Q2 FY2022 financials due to $980,200 revenue recognition error; net loss increased by $2.2M each period.
- Doubtful accounts recovery decreased by $1.9M for Q1/Q2 FY2022; provision for doubtful accounts now ~$34,000.
- Material weakness in internal control over financial reporting identified; disclosure controls ineffective as of multiple dates.
- Company will amend 2021 Form 10-K and 2021 Form 10-Qs to correct errors.

## SEC filing metadata
- accession: 0001213900-23-017792
- form_type: 8-K/A
- ticker: SGLY
- cik: 0001422892
- company_name: Singularity Future Technology Ltd.
- filed_at: 2023-03-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1422892/000121390023017792/0001213900-23-017792-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1422892/000121390023017792/ea174698-8ka1_singul.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-017792
- JSON: https://secwatch.observer/filing/0001213900-23-017792.json
- Plain text: https://secwatch.observer/filing/0001213900-23-017792.txt

## Key facts
- Auditor Changes
  Singularity Future Technology Ltd. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Audit Alliance LLP
  source text: On February 28, 2023 , the audit committee of Singularity Future Technology Ltd. (the “Company”), after discussion with the management of the Company, and in consultation with the Company’s independent registered public accounting firm, concluded that the Company’s previously issued financial statements for the fiscal year ended June 30, 2021 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on November 29, 2021 (the “2021 Form 10-K”) should no longer be relied upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/1422892/000121390023017792/0001213900-23-017792-index.htm

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