{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-007816","form_type":"8-K","ticker":null,"cik":"0000825322","company_name":"MPHASE TECHNOLOGIES, INC.","filed_at":"2023-03-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.194830+00:00","generated_at":"2026-06-18T01:21:50.947305+00:00","sec_items":["4.02"],"event_type":"other_material","sentiment":"negative","materiality_score":0.95,"calibrated_materiality_score":0.95,"confidence":"high","headline":"mPhase restates financials: former CEO fabricated all revenue Sep 2019-Mar 2022","bullets":["All revenue and cost of sales from Q1 FY2020 through Q2 FY2022 eliminated; previously reported $30M+ revenue reduced to $0.","Former CEO created fake transactions: $2.5M cash receipts, $3.8M vendor payments, and falsified bank statements.","Former CEO received 37,390,452 common shares as compensation for fraudulent revenue; company pursuing legal clawback.","Series A Preferred stock found unauthorized and removed from financial statements.","Misappropriated assets identified: $100k in personal credit card charges and payments to personal vendors."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-007816","json":"https://secwatch.observer/filing/0001493152-23-007816.json","markdown":"https://secwatch.observer/filing/0001493152-23-007816.md","text":"https://secwatch.observer/filing/0001493152-23-007816.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/825322/000149315223007816/0001493152-23-007816-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/825322/000149315223007816/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T01:21:50.947305+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":"9ba0c2999fd426cd5455f59f8fdcfca7117305b5","claim":"MPHASE TECHNOLOGIES, INC. reported that prior financial statements should not be relied upon.","evidence_excerpt":"As part of the restatement, these amounts will be removed from the Company’s operating expenses and disclosed separately in the financial statements as assets misappropriated by the Former CEO. The Special Committee is completing its analysis of these transactions and they will be included in the restated financial statements when available. ● In the previously issued financial statements, the Company reported in its “Consolidated","evidence_source":"SEC 8-K Item 4.01/4.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/825322/000149315223007816/0001493152-23-007816-index.htm","confidence":0.9,"family_label":"Auditor Changes","details":[{"label":"Action","value":"non reliance"},{"label":"Auditor","value":"Prager Metis CPAs LLP"}],"fact_type":"auditor_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}