---
schema_version: "secwatch.filing_event.v1"
accession: "0001716583-23-000018"
form_type: "8-K"
ticker: null
cik: "0001716583"
company_name: "Hyzon Motors Inc."
filed_at: "2023-02-09T23:59:59+00:00"
generated_at: "2026-06-19T20:35:09.372247+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Hyzon Motors faces Nasdaq delisting; will restate Q3 2021 revenue from European JV

## Summary
- Nasdaq notified Hyzon that trading will be suspended on Feb 14, 2023 unless appeal; Hyzon plans appeal by Feb 10.
- Audit Committee determines Q3 2021 financials no longer reliable due to revenue recognition issues with European JV.
- Restatement to eliminate substantially all revenue, inventory, and contract liabilities from Holthausen Clean Technology contracts.
- Company still has not filed Q2 2022 and Q3 2022 10-Qs; material weaknesses in internal controls previously reported.
- Board appoints Dennis Edwards to Audit Committee, designates Elaine Wong as audit committee financial expert.

## SEC filing metadata
- accession: 0001716583-23-000018
- form_type: 8-K
- cik: 0001716583
- company_name: Hyzon Motors Inc.
- filed_at: 2023-02-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 3.01, 4.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1716583/000171658323000018/0001716583-23-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1716583/000171658323000018/hyzn-20230209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001716583-23-000018
- JSON: https://secwatch.observer/filing/0001716583-23-000018.json
- Plain text: https://secwatch.observer/filing/0001716583-23-000018.txt

## Key facts
- Auditor Changes
  Hyzon Motors Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: ns and comprehensive income (loss), consolidated statement of changes in stockholders’ equity, and consolidated statement of cash flows for the three and nine months ended September 30, 2021) (the “Non-Reliance Period”) should no longer be relied upon. The Audit Committee’s determination stems from the Company’s Board-appointed committee of independent board members (the “Special Committee”) formed to investigate, with the assistance of independent outside counsel and other advisors, issues regarding revenue recognition timing and internal controls and procedures that were brought to the attention of the Board by Company management as previously reported on its Current Report on Form 8-K with the SEC on August 4, 2022 pertaining to the Company’s previously issued financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The Audit Comm
  evidence_url: https://www.sec.gov/Archives/edgar/data/1716583/000171658323000018/0001716583-23-000018-index.htm
- Listing & Compliance Notices
  Hyzon Motors Inc. received a nasdaq delisting notice notice regarding late filing (rules 5250(c)(1)).
  - Exchange: nasdaq
  - Notice: delisting notice
  - Deficiency: late filing
  - Rules: 5250(c)(1)
  source text: reviously disclosed, on August 16 and November 16, 2022, the Company received notices from the Nasdaq Listing Qualifications Department notifying the Company that, because the Company had not timely filed the Quarterly Reports with the SEC, the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports. After the Company made a submission to the Nasdaq Listing Qualifications Department describing its plan to regain compliance with this rule, the Company was granted an extension until the Extended Date to file the Q
  evidence_url: https://www.sec.gov/Archives/edgar/data/1716583/000171658323000018/0001716583-23-000018-index.htm

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