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5/5Crypto Co (CRCW): Non-reliance / restatement

Filed 2025-06-09 路 Form 8-K 路 Accession 0001641172-25-014329 nano

Market data

Price before filing: $0.0009 (2025-06-06 close, split/dividend-adjusted)
Market cap at flag: $3.1M (2025-06-09) 路 Latest: $3.9M (2026-10-16)

What happened next

WindowCRCWSPYvs SPY
30 days-15.6%+4.5%-20.0%2025-07-09
90 days+411.1%+8.6%+402.5%2025-09-08
180 days+222.2%+14.8%+207.5%2025-12-08

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.

Insider trading around this filing

90 days before the flag: no open-market insider sales or purchases reported.
30 days after: 2 insiders bought 264,712,494 shares (2 purchases)

DateInsiderTypeSharesPriceValue10b5-1 planSource
2025-06-09: red flag filed
2025-06-24Levy Ron
CEO, COO, Director, 10% owner
Purchase197,605,773n/an/anoForm 4
2025-06-24Ruxin Holly
Director
Purchase67,106,721n/an/anoForm 4

Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-03-11 to 2025-07-09. 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.

Verified excerpt

"Subsequent thereto, on March 26, 2025, the board of directors of the Company, after discussion with Bush of the matters described above, concluded that the Company's audited financial statements as of and for the year ended December 31, 2023, as previously included in the 2023 Form 10-K should no longer be relied upon."

Quoted from the filing. Source

What this means

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, 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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