United States
SECURITIES AND EXCHANGE COMMISSION
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Form
Current Report
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Item 4.02-Non-Reliance on Previously Issued Financial Statements or Related Audit Report or Completed Interim Report.
In connection with a review of its public filings, Iron Spark I Inc., a Delaware corporation (the “Company”), realized that it had incorrectly omitted certain expenses related to Nasdaq fees for the initial listing of the Company among other accruals (including auditing, legal, printing and tax fees) and the accounting treatment for complex financial instruments.
Based on the foregoing, Management concluded that a deficiency in internal control over financial reporting existed relating to the accounting treatment for complex financial instruments and that the failure to properly account for such items, including the omission of certain material Nasdaq fee accruals among other accruals, constituted a material weakness as defined in the SEC regulations.
In light of this material weakness, on September 30, 2022, the Company’s management and the Audit Committee of the Company’s Board of Directors, concluded that the Company’s financial statements for the year ended December 31, 2021 and the quarters ended June 30, 2021, September 30, 2021, March 31, 2022 and June 30, 2022 should no longer be relied upon and that it is appropriate to restate the Company’s financial statements for such periods. Therefore, the Company will be filing an amended Form 10-K for the year ended December 31, 2021, which will include June 30, 2021 and September 30, 2021, and amended Form 10-Qs for the quarters ended March 31, 2022 and June 30, 2022 to appropriately reflect the Nasdaq fee accruals among other accruals (including auditing, legal, printing and tax fees) and the accounting treatment for complex financial instruments. The Company’s management previously determined that the Company’s disclosure controls and procedures and internal control over financial reporting were not effective for the year ended December 31, 2021.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. |
Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 30, 2022
IRON SPARK I INC.
| By: | /s/ Josh Spear | |
| Name: | Josh Spear | |
| Title: | Chief Executive Officer |