---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-025203"
form_type: "8-K/A"
ticker: "SHFS"
cik: "0001854963"
company_name: "SHF Holdings, Inc."
filed_at: "2025-08-22T23:59:59+00:00"
generated_at: "2026-05-17T10:39:03.527729+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# SHF Holdings restates Q1 2025 results; stock-based comp error adds ~$500K to loss

## Summary
- Restatement of Q1 2025 financials due to incorrect Black-Scholes inputs (expected term, stock price); increases operating expenses and net loss by ~$500K.
- Audit Committee discussed the restatement with independent auditor MGO before filing.
- Amended Form 10-Q for the three months ended March 31, 2025, was filed on August 14, 2025.
- All previously issued earnings releases and investor communications for Q1 2025 should no longer be relied upon.

## SEC filing metadata
- accession: 0001641172-25-025203
- form_type: 8-K/A
- ticker: SHFS
- cik: 0001854963
- company_name: SHF Holdings, Inc.
- filed_at: 2025-08-22T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854963/000164117225025203/0001641172-25-025203-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854963/000164117225025203/form8-ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-025203
- JSON: https://secwatch.observer/filing/0001641172-25-025203.json
- Plain text: https://secwatch.observer/filing/0001641172-25-025203.txt

## Key facts
- Auditor Changes
  SHF Holdings, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Macias Gini & O'Connell LLP
  source text: should no longer be relied upon due to an error in the calculation of stock-based compensation expense.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854963/000164117225025203/0001641172-25-025203-index.htm

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