{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-039164","form_type":"8-K","ticker":"QPRC","cik":"0000824416","company_name":"QUEST PATENT RESEARCH CORP","filed_at":"2024-05-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.086110+00:00","generated_at":"2026-06-03T01:16:56.340239+00:00","sec_items":["4.02"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Quest Patent Research restates FY2023 net income; overstated by $1.4M due to omitted legal fees","bullets":["Litigation and licensing expenses understated by $1,371,109 due to missing accrued legal fees from Q4 2023 settlement.","Originally reported net income of $3,649,582 ($0.68 EPS) restated to $2,278,473 ($0.43 EPS).","Board determined FY2023 financial statements should not be relied upon; restatement to be filed via 10-K/A.","Independent auditor Rosenberg Rich Baker Berman concurred with the error after reviewing records."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-039164","json":"https://secwatch.observer/filing/0001213900-24-039164.json","markdown":"https://secwatch.observer/filing/0001213900-24-039164.md","text":"https://secwatch.observer/filing/0001213900-24-039164.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/824416/000121390024039164/0001213900-24-039164-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/824416/000121390024039164/ea0205151-8k_quest.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T01:16:56.340239+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":"4f259fcd1aaa965612bd3bf4a5a0016d12f497cf","claim":"QUEST PATENT RESEARCH CORP reported that prior financial statements should not be relied upon.","evidence_excerpt":"On May 1, 2024, the Company’s board of directors determined that the financial statements for the year ended December 31, 2023 included in the Company’s Form 10-K for the year ended December 31, 2023 should not be relied upon and should be restated, and an amendment to the Company’s Form 10-K for the year ended December 31, 2023 should be filed.","evidence_source":"SEC 8-K Item 4.01/4.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/824416/000121390024039164/0001213900-24-039164-index.htm","confidence":0.9,"family_label":"Auditor Changes","details":[{"label":"Action","value":"non reliance"},{"label":"Auditor","value":"Rosenberg Rich Baker Berman, P.A."}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}