---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-073258"
form_type: "8-K/A"
ticker: null
cik: "0001835972"
company_name: "iLearningEngines, Inc."
filed_at: "2023-09-01T23:59:59+00:00"
generated_at: "2026-06-11T00:42:58.319362+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Arrowroot Acquisition restates Q1 2023 financials; net loss more than quadruples to $1.69M

## Summary
- Material error: convertible notes incorrectly fair-valued instead of at par; Q1 2023 statements no longer reliable.
- Net loss restated from $374,842 to $1,694,692; basic EPS for Class A and B each changed from ($0.01) to ($0.06).
- Convertible promissory note value adjusted from $257,014 to $2,140,000; total liabilities increased by $1.88M.
- Accumulated deficit increased by $1.32M to $16.53M; additional paid-in capital eliminated ($563,136 reclassified).
- Management identified a material weakness in internal controls; disclosure controls deemed ineffective as of March 31, 2023.

## SEC filing metadata
- accession: 0001213900-23-073258
- form_type: 8-K/A
- cik: 0001835972
- company_name: iLearningEngines, Inc.
- filed_at: 2023-09-01T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1835972/000121390023073258/0001213900-23-073258-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1835972/000121390023073258/ea184624-8ka1_arrow.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-073258
- JSON: https://secwatch.observer/filing/0001213900-23-073258.json
- Plain text: https://secwatch.observer/filing/0001213900-23-073258.txt

## Key facts
- Auditor Changes
  iLearningEngines, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: should no longer be relied upon due to the error described below and should be restated.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835972/000121390023073258/0001213900-23-073258-index.htm

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