---
schema_version: "secwatch.filing_event.v1"
accession: "0001763925-22-000008"
form_type: "8-K"
ticker: "CJAX"
cik: "0001763925"
company_name: "CoJax Oil & Gas Corp"
filed_at: "2022-05-12T23:59:59+00:00"
generated_at: "2026-06-25T18:58:15.035583+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# CoJax Oil & Gas restates financials; acquisition misaccounted, properties value cut from $10M to $2.7M

## Summary
- Board determined 2020 annual and Q1-Q3 2021 financials should no longer be relied upon due to acquisition accounting error.
- Acquisition of Barrister Energy incorrectly treated as business combination; should be 'under common control' per ASC 805-50-30.
- Carrying value of oil & gas properties to decrease from $10M to $2.7M; stockholders' equity reduced by same amount, no effect on net loss.
- Company to file amended 2020 annual report, Q1-Q3 2021 reports, and 2021 annual report; timeline not yet known.

## SEC filing metadata
- accession: 0001763925-22-000008
- form_type: 8-K
- ticker: CJAX
- cik: 0001763925
- company_name: CoJax Oil & Gas Corp
- filed_at: 2022-05-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1763925/000176392522000008/0001763925-22-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1763925/000176392522000008/cojax8k_nonreliance_5-12-22.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001763925-22-000008
- JSON: https://secwatch.observer/filing/0001763925-22-000008.json
- Plain text: https://secwatch.observer/filing/0001763925-22-000008.txt

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