{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-034684","form_type":"8-K","ticker":"HOVR","cik":"0001930021","company_name":"New Horizon Aircraft Ltd.","filed_at":"2024-04-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.233195+00:00","generated_at":"2026-06-03T14:33:39.141334+00:00","sec_items":["4.02","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"New Horizon Aircraft restates FY2023 financials; prior statements no longer reliable","bullets":["Company reclassified deferred development costs to R&D expenses, prompting restatement of FY2023 financials.","Audit committee determined previously issued FY2023 audited and FY2024 interim statements are unreliable.","Restated FY2023 shows net loss of CAD $1.25M and accumulated deficit of CAD $6.5M; negative working capital CAD $1.24M.","Auditor notes substantial doubt about going concern due to expected continued losses and negative cash flows."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-034684","json":"https://secwatch.observer/filing/0001213900-24-034684.json","markdown":"https://secwatch.observer/filing/0001213900-24-034684.md","text":"https://secwatch.observer/filing/0001213900-24-034684.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1930021/000121390024034684/0001213900-24-034684-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1930021/000121390024034684/ea0204342-8k_newhoriz.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T14:33:39.141334+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"626b373d1f9b84a869d8fabe573bfb44b3bf6454","claim":"New Horizon Aircraft Ltd. reported that prior financial statements should not be relied upon.","evidence_excerpt":"On April 19, 2024, the Audit Committee of the Board of Directors of the Company, concluded that the Company’s previously issued audited financial statements for the year ended May 31, 2023, and unaudited interim financial statements for the period ended August 31, 2023 (collectively, the “Non-Reliance Periods”), as reported in the Company’s Current Report on Form 8-K, filed on January 19, 2024, should no longer be relied upon.","evidence_source":"SEC 8-K Item 4.01/4.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1930021/000121390024034684/0001213900-24-034684-index.htm","confidence":0.9,"family_label":"Auditor Changes","details":[{"label":"Action","value":"non reliance"}],"fact_type":"auditor_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}