---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-038225"
form_type: "8-K"
ticker: "OCC"
cik: "0001000230"
company_name: "OPTICAL CABLE CORP"
filed_at: "2024-12-23T23:59:59+00:00"
generated_at: "2026-05-28T23:28:49.797300+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Optical Cable restates balance sheets for FY2023 and three quarterly periods to reclassify revolver as current liability

## Summary
- Restatement covers audited FY2023 annual report and quarters ended Jan, Apr, Jul 2024 and 2023.
- Revolver balance reclassified from noncurrent to current liability; no effect on total assets, liabilities, equity, revenues, or cash flows.
- No impact on lender covenants; lender has not used material adverse change clause and has no intention to do so.
- No compensation recovery required as classification change did not affect executive pay.

## SEC filing metadata
- accession: 0001437749-24-038225
- form_type: 8-K
- ticker: OCC
- cik: 0001000230
- company_name: OPTICAL CABLE CORP
- filed_at: 2024-12-23T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000230/000143774924038225/0001437749-24-038225-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000230/000143774924038225/occ20241219_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-038225
- JSON: https://secwatch.observer/filing/0001437749-24-038225.json
- Plain text: https://secwatch.observer/filing/0001437749-24-038225.txt

## Key facts
- Auditor Changes
  OPTICAL CABLE CORP reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On December 20, 2024, the Company’s audit committee of the Board of Directors (the “Audit Committee”), based on the recommendation of, and after consultation with, the Company’s management, concluded that: (i) the Company’s Revolver balance should be included as a current liability on the Company’s balance sheet, rather than as a noncurrent liability of the balance sheet; and (ii) the Company’s audited financial statements for the year ended October 31, 2023, and the financial statements for the quarters ended January 31, 2024 and 2023, April 30, 2024 and 2023, July 31, 2024 and 2023 (collectively, the “Non-Reliance Periods”), as reported in the Company’s annual Report on Form 10-K filed on December 20, 2023 and in the Company’s Quarterly Reports on Form 10-Qs filed on March 13, 2024, March 14, 2023, June 10, 2024, June 12, 2023, September 11, 2024 and September 12, 2023 should no longer be relied upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000230/000143774924038225/0001437749-24-038225-index.htm

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