Home / Restatements / Elauwit Connection, Inc.
Filed 2026-02-27 路 Form 8-K 路 Accession 0001104659-26-021078 micro
Price before filing: $7.45 (2026-02-26 close, split/dividend-adjusted)
Market cap at flag: $50.6M (2026-02-27) 路 Latest: $36.7M (2026-10-16)
| Window | ELWT | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -20.7% | -8.1% | -12.6% | 2026-03-30 |
| 90 days | -4.6% | +9.8% | -14.3% | 2026-05-28 |
| 180 days | -6.0% | +11.7% | -17.8% | 2026-08-26 |
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: 3 insiders bought $55K (3 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-12-11 | Berk Frederick R. Director | Purchase | 1,000 | $6.50 | $6K | no | Form 4 |
| 2025-12-11 | McDonough Daniel JR Executive Chairman, Director, 10% owner | Purchase | 5,000 | $6.50 | $32K | no | Form 4 |
| 2025-12-11 | RUBENS BARRY R Chief Executive Officer, Director, 10% owner | Purchase | 2,500 | $6.59 | $16K | no | Form 4 |
| 2026-02-27: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-11-29 to 2026-03-29. 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"), after discussion with management, determined that the Company's previously issued interim financial statements included in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, filed on December 10, 2025 (the "Previous Filing"), should no longer be relied upon and should be restated because of accounting errors in revenue recognition for certain network design and..."
Quoted from the filing. Source
The company says previously issued financial statements (or the auditor's report on them) should no longer be relied upon (8-K Item 4.02). Non-reliance on the financial statements themselves is one of the most serious accounting red flags: past reported numbers were wrong and will be restated.
Scope: previously issued financial statements
Why this score: also within 90 days: Going-concern doubt
Read the original filing on SEC.gov →
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