Home / Going-concern warnings / Worksport Ltd
Filed 2026-03-26 路 Form 10-K 路 Accession 0001493152-26-012945 nano
Price before filing: $1.36 (2026-03-25 close, split/dividend-adjusted)
Market cap at flag: $14.2M (2026-03-26) 路 Latest: $4.2M (2026-10-16)
| Window | WKSP | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -16.9% | +8.9% | -25.8% | 2026-04-27 |
| 90 days | -24.3% | +11.9% | -36.2% | 2026-06-24 |
| 180 days | -68.0% | +18.3% | -86.4% | 2026-09-22 |
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: no open-market insider sales or purchases reported.
30 days after: 1 insider bought $75K (1 purchase)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-03-26: red flag filed | |||||||
| 2026-04-13 | Rossi Steven F. CEO and President, Director | Purchase | 88,214 | $0.85 | $75K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-26 to 2026-04-25. 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.
"As discussed in Note 2 to the consolidated financial statements, the Company has suffered recurring losses from operations and has an accumulated deficit, that raise substantial doubt about its ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Going-concern opinion issued by: Lumsden & McCormick, LLP
Source: independent auditor report in Form 10-K (period 2025-12-31)
Why this score: in auditor's report
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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