secwatch.observer — SEC 8-K summary
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Issuer:     Cardiff Lexington Corp (CDIX)
CIK:        0000811222
Form:       8-K
Filed at:   2022-02-17T23:59:59+00:00
Accession:  0001683168-22-001093
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

Cardiff Lexington non-reliance on 2020 annual and Q1 2021 financials; will restate
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- Restated periods: year ended Dec 31, 2020, and quarter ended March 31, 2021.
- Issue 1: embedded derivative liabilities in matured convertible notes valued using intrinsic value instead of full Black-Scholes.
- Issue 2: modifications to preferred stock rights not accounted for as deemed dividend.
- Company will file amendments to 2020 10-K and Q1 2021 10-Q.
- Discussed non-reliance with prior auditor Daszkal Bolton LLP and current auditor Rosenberg Rich Baker Berman PA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811222/000168316822001093/0001683168-22-001093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811222/000168316822001093/cardiff_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-001093

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