---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-025015"
form_type: "8-K"
ticker: null
cik: "0001109486"
company_name: "Endexx Corp"
filed_at: "2023-07-20T23:59:59+00:00"
generated_at: "2026-06-13T05:23:15.523630+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Endexx restates FY2022 annual and Q1 FY2023 financials due to consolidation error

## Summary
- Management concluded prior unaudited 10-K (FY2022) and 10-Q (Q1 FY2023) should not be relied upon due to consolidation error.
- Originally accounted for 51% Hyla US stake under equity method; now determines controlling financial interest required consolidation.
- Amended 10-K filed June 9, 2023 with restated audited consolidated statements; further amendments expected by July 31, 2023.
- Restatement includes $11.5M total consideration and $2M Series H Preferred reclassified as mezzanine equity.

## SEC filing metadata
- accession: 0001493152-23-025015
- form_type: 8-K
- cik: 0001109486
- company_name: Endexx Corp
- filed_at: 2023-07-20T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1109486/000149315223025015/0001493152-23-025015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1109486/000149315223025015/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-025015
- JSON: https://secwatch.observer/filing/0001493152-23-025015.json
- Plain text: https://secwatch.observer/filing/0001493152-23-025015.txt

## Key facts
- Auditor Changes
  Endexx Corp reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: Restatement Background On June 9, 2023, Endexx Corporation’s (the “Company,” “our,” “we,” or “us”) management reached a final determination that the Company’s previously issued unaudited, financial statements and related disclosures for its fiscal year ended September 30, 2022 (the “Prior 10-K”), and for its fiscal quarter ended December 31, 2022 (the “Prior 10-Q”), each of which did not include Hyla US as a consolidated entity contained an error and should no longer be relied upon for the reason set forth below, i.e. , our ability to assert a controlling financial interest in Hyla US (as defined below). Effective August 31, 2022, we closed a transaction with Hyla UK Holdco Limited (“Hyla UK”), pursuant to which we, through our specially formed transaction subsidiary, purchased 51% of the issued and outstanding capital stock of Hyla US Holdco Limited (“Hyla US”), a wholly-owned operating
  evidence_url: https://www.sec.gov/Archives/edgar/data/1109486/000149315223025015/0001493152-23-025015-index.htm

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