Home / Restatements / ScanTech AI Systems Inc.
Filed 2025-11-03 路 Form 8-K 路 Accession 0001104659-25-105690 small
Price before filing: $10.08 (2025-10-31 close, split/dividend-adjusted)
Market cap at flag: $544.9M (2025-11-03) 路 Latest: $11,794 (2026-10-16)
| Window | STAI | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -54.2% | +0.3% | -54.4% | 2025-12-03 |
| 90 days | -84.3% | +2.3% | -86.6% | 2026-02-02 |
| 180 days | -99.0% | +5.9% | -104.9% | 2026-05-04 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $248K (4 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-09-19 | SEAPORT GLOBAL ASSET MANAGEMENT LLC 10% owner | Sale | 115,000 | $0.51 | $58K | no | Form 4 |
| 2025-10-10 | SEAPORT GLOBAL ASSET MANAGEMENT LLC 10% owner | Sale | 125,000 | $0.73 | $91K | no | Form 4 |
| 2025-10-27 | SEAPORT GLOBAL ASSET MANAGEMENT LLC 10% owner | Sale | 133,628 | $0.69 | $93K | no | Form 4 |
| 2025-10-28 | SEAPORT GLOBAL ASSET MANAGEMENT LLC 10% owner | Sale | 10,000 | $0.66 | $7K | no | Form 4 |
| 2025-11-03: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-05 to 2025-12-03. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"(the "Company") concluded that the Company's unaudited interim consolidated financial statements for the quarters ended March 31, 2025 and June 30, 2025 (collectively, the "Affected Financials"), as previously filed with the Securities and Exchange Commission ("SEC"), should no longer be relied upon because of an error related to redemption shares and should therefore be restated."
Quoted from the filing. Source
The company says previously issued financial statements should no longer be relied upon (8-K Item 4.02). This is one of the most serious accounting red flags: past reported numbers were wrong and will be restated.
Why this score: also within 90 days: Auditor change, Going-concern doubt, Late quarterly report (NT 10-Q)
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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