---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-044336"
form_type: "8-K"
ticker: null
cik: "0001500305"
company_name: "Sustainable Projects Group Inc."
filed_at: "2023-12-11T23:59:59+00:00"
generated_at: "2026-06-07T14:49:39.401713+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sustainable Projects Group restates FY2022 and Q1/Q2 2023 financials; prior statements unreliable

## Summary
- Board concluded annual (FY2022) and Q1 and Q2 2023 financials should no longer be relied upon due to errors.
- Restatement corrects goodwill impairment related to intellectual property and inventory write-downs at YER Brands subsidiary.
- Also correcting accounting for reverse acquisition of Lithium Harvest; financials will reflect company on standalone basis.
- New auditor Centurion ZD CPA & Co. will reaudit annual statements; prior auditor K.R. Margetson no longer PCAOB-registered.

## SEC filing metadata
- accession: 0001493152-23-044336
- form_type: 8-K
- cik: 0001500305
- company_name: Sustainable Projects Group Inc.
- filed_at: 2023-12-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1500305/000149315223044336/0001493152-23-044336-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1500305/000149315223044336/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-044336
- JSON: https://secwatch.observer/filing/0001493152-23-044336.json
- Plain text: https://secwatch.observer/filing/0001493152-23-044336.txt

## Key facts
- Auditor Changes
  Sustainable Projects Group Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On December 6, 2023, the Board of Directors (the “Board”) of Sustainable Projects Group Inc. (the “Company”), after discussion with management, concluded that the annual financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “Form 10-K”) and the interim financial statements contained in the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023 should no longer be relied upon for the reasons summarized below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1500305/000149315223044336/0001493152-23-044336-index.htm

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