---
schema_version: "secwatch.filing_event.v1"
accession: "0001599916-23-000117"
form_type: "8-K"
ticker: null
cik: "0001787412"
company_name: "WB Burgers Asia, Inc."
filed_at: "2023-05-26T23:59:59+00:00"
generated_at: "2026-06-14T13:14:13.275262+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# WB Burgers Asia restates FY2021 financials; incorrect share issuance and consolidation errors

## Summary
- Cash for 9,090,909 shares received by related party in July 2021, not company until Sept; shares issued in Oct, not July.
- Fair value of 1,000,000 Series A preferred shares issued as compensation adjusted per third-party valuation.
- Restatement includes consolidation of subsidiary WBBJ, which became wholly owned in Sept 2021.
- Retroactive revisions to share cancellation/exchange dates due to recapitalization effective March 2021.
- Reclassification of expenses paid on company's behalf from financing to operating activities on cash flow statement.

## SEC filing metadata
- accession: 0001599916-23-000117
- form_type: 8-K
- cik: 0001787412
- company_name: WB Burgers Asia, Inc.
- filed_at: 2023-05-26T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1787412/000159991623000117/0001599916-23-000117-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1787412/000159991623000117/wbba_8knonr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001599916-23-000117
- JSON: https://secwatch.observer/filing/0001599916-23-000117.json
- Plain text: https://secwatch.observer/filing/0001599916-23-000117.txt

## Key facts
- Auditor Changes
  WB Burgers Asia, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: BF Borgers CPA PC
  source text: the Company's previously issued financial statements included in its Annual Reports on Form 10-K for the year ended July 31, 2021, should be restated
  evidence_url: https://www.sec.gov/Archives/edgar/data/1787412/000159991623000117/0001599916-23-000117-index.htm

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