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.
The Company's management and audit committee of the Company's board of directors
discussed the matters disclosed in this Current Report on Form 8-K with the
Company's independent accountant,
Item 9.01.Financial Statements and Exhibits
(d) Exhibits.
Exhibit
No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
© Edgar Online, source Glimpses
IRON SPARK I INC. 
