secwatch.observer — SEC 8-K summary
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Issuer:     ShoulderUP Technology Acquisition Corp. (—)
CIK:        0001885461
Form:       8-K
Filed at:   2024-11-26T23:59:59+00:00
Accession:  0001213900-24-102360
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

ShoulderUp Technology restates June 30 2024 financials due to derivative liability error
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- Error from using incorrect Class B share count in non-redemption agreement derivative liability calculation.
- Overstated derivative liability, total liabilities, and net loss; understated total other income.
- Board and Audit Committee concluded June 30 2024 interim financials should no longer be relied upon.
- Company intends to file amended 10-Q as soon as practicable.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1885461/000121390024102360/0001213900-24-102360-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1885461/000121390024102360/ea0222614-8k_shoulder.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-102360

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