secwatch.observer — SEC 8-K summary
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Issuer:     Planet 13 Holdings Inc. (PLNH)
CIK:        0001813452
Form:       8-K
Filed at:   2024-01-26T23:59:59+00:00
Accession:  0001437749-24-002227
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 4.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Planet 13 restates 2021-2023 financials after $22M believed misappropriated by investment advisor
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- Believed misappropriation of ~US$22.0M of company funds held by El Capitan Advisors, Inc.
- Restatement covers audited FY 2021 & 2022 and unaudited Q1-Q3 2023 financials.
- Expects to decrease cash by ~US$16.5M for 2022, impacting net income, EPS, and taxes.
- Q3 2023 10-Q will also reflect ~US$5.5M restricted cash adjustment.
- Company will file amended reports and review internal controls over financial reporting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1813452/000143774924002227/0001437749-24-002227-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1813452/000143774924002227/plnh20240125_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-002227

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