---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-21-022923"
form_type: "8-K"
ticker: "PLSH"
cik: "0001552189"
company_name: "PANACEA LIFE SCIENCES HOLDINGS, INC."
filed_at: "2021-09-16T23:59:59+00:00"
generated_at: "2026-06-29T03:13:37.623818+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Exactus restates Q2 2021 financials; related-party revenue of $4.7M improperly recognized

## Summary
- Board concluded Q2 2021 Form 10-Q cannot be relied upon due to material errors.
- $4.7M inventory sale to related party (Chairman/CEO) was improperly recorded as revenue.
- Transaction accounted for 92% of Q2 revenue and 83% of H1 2021 revenue.
- Additional errors in cash flow classification, ROU assets, payables, and expenses under review.
- Company will file an amended 10-Q as soon as practicable.

## SEC filing metadata
- accession: 0001493152-21-022923
- form_type: 8-K
- ticker: PLSH
- cik: 0001552189
- company_name: PANACEA LIFE SCIENCES HOLDINGS, INC.
- filed_at: 2021-09-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1552189/000149315221022923/0001493152-21-022923-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1552189/000149315221022923/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-21-022923
- JSON: https://secwatch.observer/filing/0001493152-21-022923.json
- Plain text: https://secwatch.observer/filing/0001493152-21-022923.txt

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