secwatch.observer — SEC 8-K summary
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Issuer:     GHST World Inc. (GHST)
CIK:        0001121795
Form:       8-K/A
Filed at:   2023-10-10T23:59:59+00:00
Accession:  0001553350-23-000441
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GHST World non-reliance on FY 2022 financials; restatement increases net loss to $3.99M
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- Board determined FY 2022 audited financials and several quarterly periods from Dec 2021 to Mar 2023 should no longer be relied upon.
- Restatement includes non-cash expense from issuance of ~118.66M shares at avg $0.00185/share, below fair market value.
- Net loss for FY 2022 revised from $151,885 to ~$3,987,000, a roughly 26x increase.
- Other adjustments: impairment on 119 art paintings, write-off of patent costs, write-off of related party receivable.
- Re-audited FY 2022 financials to be included in FY 2023 10-K, due by Oct 13, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1121795/000155335023000441/0001553350-23-000441-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1121795/000155335023000441/ghst_8k.htm
  HTML page:      https://secwatch.observer/filing/0001553350-23-000441

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