{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-25-017177","form_type":"8-K","ticker":"SGRP","cik":"0001004989","company_name":"SPAR Group, Inc.","filed_at":"2025-05-15T23:59:59+00:00","discovered_at":"2026-05-14T18:02:47.132009+00:00","generated_at":"2026-05-21T04:15:16.516654+00:00","sec_items":["4.02"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"SPAR Group restates Q2/Q3 2024 financials; Brazilian JV sale accounting error","bullets":["On May 14, 2025, management and Audit Committee determined unaudited Q2 and Q3 2024 financials should not be relied upon.","Error: $7.5M loan from Brazilian JV sale wrongly classified as consideration instead of capital distribution.","Restatement will correct the error in the 2024 Annual Report; material weakness in internal controls identified.","Brazilian JV sale: total consideration $10.7M, carrying value $4.8M, economic benefit ~$5.9M."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-25-017177","json":"https://secwatch.observer/filing/0001437749-25-017177.json","markdown":"https://secwatch.observer/filing/0001437749-25-017177.md","text":"https://secwatch.observer/filing/0001437749-25-017177.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1004989/000143774925017177/0001437749-25-017177-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1004989/000143774925017177/sgrp20250515_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-21T04:15:16.516654+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"f455a8d396f32a32eb2df52631660f5670ad4053","claim":"SPAR Group, Inc. reported that prior financial statements should not be relied upon.","evidence_excerpt":"Management and the Audit Committee of the Company have determined that these errors in the unaudited condensed consolidated financial statements for the Non-Reliance Periods required a restatement of the Prior Period Financial Statements (the “Restatement”). The errors in the unaudited condensed consolidated financial statements for the Non-Reliance Periods noted above will be corrected in restated financial statements for the Non-Reliance Periods in the 2024 Annual Report.","evidence_source":"SEC 8-K Item 4.01/4.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774925017177/0001437749-25-017177-index.htm","confidence":0.9,"family_label":"Auditor Changes","details":[{"label":"Action","value":"non reliance"},{"label":"Auditor","value":"BDO USA P.C."}],"fact_type":"auditor_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}