5/5BayFirst Financial Corp. (BAFN): Non-reliance / restatement

Market data

Price before filing: $5.5 (2026-07-14 close, split/dividend-adjusted)
Market cap at flag: $23.4M (2026-07-15) · Latest: $25.4M (2026-10-16)

What happened next

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: 1 insider sold 1,142,800 shares (4 sales)
30 days after: none reported.

Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2026-04-16 to 2026-08-14. 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

"As a result of management's review, on July 14, 2026, Company management recommended to the Audit Committee of the Board of Directors, and the Audit Committee agreed, that the Company's consolidated financial statements as of and for the years ended December 31, 2024, and December 31, 2025, and the quarter ended March 31, 2026, should be restated, and the previously issued consolidated financial statements, and the..."

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