Unusual Machines Files 8-K/A Amendment

TL;DR

UMAC filed an 8-K/A, correcting prior financials. Watch for details.

AI Summary

Unusual Machines, Inc. filed an amendment (8-K/A) on August 15, 2024, to its previous filing dated August 6, 2024. This amendment addresses the non-reliance on previously issued financial statements and includes financial statements and exhibits. The company is based in Orlando, Florida.

Why It Matters

This filing indicates a potential issue with past financial reporting, requiring correction and potentially impacting investor confidence.

Risk Assessment

Risk Level: medium — Amendments to financial statements and non-reliance on prior reports suggest accounting irregularities or errors that could impact the company's financial health and stock price.

Key Players & Entities

• Unusual Machines, Inc. (company) — Registrant
• August 6, 2024 (date) — Earliest event date
• August 15, 2024 (date) — Filing date
• Orlando, FL (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.01 — e on Which Registered Common Stock, $0.01 UMAC NYSE American Indicate by chec
• $600,000 — ent asset, (iii) excluding an estimated $600,000 stock compensation expense relating to
• $2,383,462 — ur net loss for FY 2023 to an estimated $2,383,462 from the previously reported net loss o
• $1,794,455 — rom the previously reported net loss of $1,794,455, the restatement of our accumulated def
• $3,933,046 — as of December 31, 2023 to an estimated $3,933,046 from our previously reported accumulate
• $3,333,046 — viously reported accumulated deficit of $3,333,046, and the restatement of our current ass
• $1,015,404 — as of December 31, 2023 to an estimated $1,015,404 from the previously reported current as
• $1,528,162 — e previously reported current assets of $1,528,162. The foregoing corrections are expected
• $1,171,777 — ur net loss for FY 2022 to an estimated $1,171,777 from the previously reported net loss o
• $1,242,584 — rom the previously reported net loss of $1,242,584, the restatement of our accumulated def
• $1,549,584 — as of December 31, 2022 to an estimated $1,549,584 from our previously reported accumulate
• $1,538,591 — viously reported accumulated deficit of $1,538,591, and the restatement of our current ass
• $3,138,797 — as of December 31, 2022 to an estimated $3,138,797 from the previously reported current as
• $3,326,622 — e previously reported current assets of $3,326,622. The Company filed an amendment to the

Filing Documents

• umac_8ka.htm (8-K/A) — 31KB
• umac_ex0701.htm (EX-7.1) — 3KB
• image_011.jpg (GRAPHIC) — 8KB
• 0001683168-24-005779.txt ( ) — 221KB
• umac-20240806.xsd (EX-101.SCH) — 3KB
• umac-20240806_lab.xml (EX-101.LAB) — 33KB
• umac-20240806_pre.xml (EX-101.PRE) — 22KB
• umac_8ka_htm.xml (XML) — 4KB

02 Non-Reliance on Previously Issued Financial Statements

Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review. On August 6, 2024, Salberg & Company, P.A. ("Salberg"), the independent registered public accounting firm of the Company, advised the Company that the Company's previously issued audited financial statements as of and for the fiscal years ended December 31, 2023 ("FY 2023") and December 31, 2022 ("FY 2022") as audited by a predecessor auditor, and included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 22, 2024 (the "Form 10-K") should no longer be relied due to certain errors in the financial statements which have been identified during the re-audit of the financial statements being conducted by Salberg and which will result in a restatement of the financial statements. The re-audit is being conducted pursuant to the SEC's order which precluded the Company's former independent registered public accounting firm that provided the audit for the financial statements contained in the Form 10-K from issuing audits on filings made with the SEC. As a result, the Company was required to retain a new independent registered public accounting firm and re-audit the financial statements contained in the Form 10-K. The restatement and adjustments arising therefrom relate to the following corrections of errors contained in the previous financial statements: (i) recording certain transactions in the incorrect period, (ii) classification of certain accounts as a current asset rather than a non-current asset, (iii) excluding an estimated $600,000 stock compensation expense relating to an issuance of common stock which occurred in FY 2023, and (iv) deferred offering costs were classified as an operating activity rather than a financing activity. The foregoing corrections are expected to result, among other impacts, in a restatement of our net loss for FY 2023 to an estimated $2,383,462 from the pr

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit 7.1 Letter from Salberg & Company, P.A. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Unusual Machines, Inc. Date: August 15, 2024 By: /s/ Allan Evans Name: Allan Evans Title: Chief Executive Officer 3

View Full Filing

View this 8-K/A filing on SEC EDGAR