This is a procedural amendment with no new financial data. The remediation of the material weakness is a positive governance signal, but the filing itself is not a trading catalyst. Monitor future filings for any recurrence of lease accounting issues.
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Executive Summary
Where Food Comes From, Inc. filed an amended 10-Q (10-Q/A) solely to update Item 4 (Controls and Procedures) regarding the remediation of a previously identified material weakness in internal control over financial reporting related to the improper application of FASB ASC 842 (Leases). The material weakness, which caused a material overstatement of right-of-use assets and other income for FY2025, was remediated before the FY2025 financial statements were released, and management concluded it was fully remediated as of March 31, 2026. No financial statements or other disclosures were changed; this is a procedural cleanup filing with no new financial impact.
Key Facts
- Amendment is solely to update Item 4 (Controls and Procedures) regarding remediation of a material weakness.
- Material weakness involved improper application of FASB ASC 842 (Leases), causing material overstatement of right-of-use assets and other income for FY2025.
- The weakness was identified in February 2026 and remediated prior to the release of FY2025 financial statements.
- Management concluded the material weakness was fully remediated as of March 31, 2026.
- No changes were made to the consolidated financial statements or any other items in the original filing.
Financial Impact
No new financial impact; the amendment corrects a prior disclosure omission regarding internal controls. The original material weakness caused a material overstatement of right-of-use assets and other income for FY2025, but was remediated before FY2025 financials were issued.
Risk Factors
- Potential recurrence of lease accounting errors if new controls are not maintained.
- Low risk of further restatements given the weakness was remediated and no financials were amended.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 10-Q/A Filing (Primary) | 0001493152-26-042699 |
| Exhibit: ex31-2.htm | 0001493152-26-042699 |
| Exhibit: ex31-1.htm | 0001493152-26-042699 |
| Document: 0001493152-26-042699-index-headers.html | 0001493152-26-042699 |
| Document: 0001493152-26-042699-index.html | 0001493152-26-042699 |
| Document: 0001493152-26-042699.txt | 0001493152-26-042699 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 22d ago | Press Release | $12.76 $13.36 | ▲ +4.70% | ▲ +4.28% | $14.81 (+16.07%) |
Oct 1, 2026 26d ago | EFFECT | $12.94 $13.99 | ▲ +8.11% | ▲ +6.81% | $14.81 (+14.45%) |
Sep 25, 2026 4w ago | S-3/A | $10.79 $12.73 | ▲ +17.96% | ▲ +18.18% | $14.81 (+37.23%) |
Sep 22, 2026 5w ago | S-3/A | $11.70 $10.90 | ▼ −6.84% | ▼ −5.65% | $14.81 (+26.58%) |
Sep 18, 2026 5w ago | S-3/A | $11.03 $10.79 | ▼ −2.16% | ▼ −3.43% | $14.81 (+34.27%) |
Sep 15, 2026 6w ago | 10-Q/A | $13.00 $11.03 | ▼ −15.15% | ▼ −15.97% | $14.81 (+13.92%) |
Sep 9, 2026 6w ago | 10-K/A | $12.70 $13.10 | ▼ −3.15% | ▼ −4.24% | $14.81 (−16.61%) |
Aug 10, 2026 11w ago | 8-K | $12.56 $12.34 | ▼ −1.71% | ▼ −1.67% | $14.81 (+17.96%) |
Aug 6, 2026 11w ago | S-3 | $12.69 $12.50 | ▼ −1.50% | ▼ −2.71% | $14.81 (+16.71%) |
Aug 6, 2026 11w ago | Press Release | $12.69 $12.50 | ▼ −1.50% | ▼ −2.71% | $14.81 (+16.71%) |
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