---
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"
generated_at: "2026-06-03T01:16:56.340239+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Quest Patent Research restates FY2023 net income; overstated by $1.4M due to omitted legal fees

## Summary
- 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.

## SEC filing metadata
- 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
- 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/824416/000121390024039164/0001213900-24-039164-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/824416/000121390024039164/ea0205151-8k_quest.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-039164
- JSON: https://secwatch.observer/filing/0001213900-24-039164.json
- Plain text: https://secwatch.observer/filing/0001213900-24-039164.txt

## Key facts
- Auditor Changes
  QUEST PATENT RESEARCH CORP reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Rosenberg Rich Baker Berman, P.A.
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/824416/000121390024039164/0001213900-24-039164-index.htm

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