secwatch.observer — SEC 8-K summary
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Issuer:     OPTICAL CABLE CORP (OCC)
CIK:        0001000230
Form:       8-K
Filed at:   2024-12-23T23:59:59+00:00
Accession:  0001437749-24-038225
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000230/000143774924038225/0001437749-24-038225-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000230/000143774924038225/occ20241219_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-038225

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