U.S. Global Investors Restates Financials Citing Non-Reliance on Prior Statements
U.S. Global Investors Inc. filed an 8-K on June 2, 2026 reporting non-reliance on previously issued financial statements under Item 4.02. The move requires the company to issue corrected filings and triggers standard SEC review processes for restated periods.
manilatimes.netU.S. Global Investors Inc. (GROW) told investors on June 2, 2026 that its previously issued financial statements can no longer be relied upon, according to an 8-K filing submitted that day to the SEC.
The Form 8-K discloses Item 4.02 non-reliance on prior financials and Item 9.01 exhibits. The company, which manages mutual funds and provides investment advisory services, did not specify in the filing the exact periods affected, the nature of the error or accounting change, or the dollar magnitude of any adjustments.
Under SEC rules, the disclosure itself constitutes notice that the original statements should not be used by investors or counterparties. The filing does not indicate whether the restatement stems from an error, fraud or a change in accounting principle.
The action shifts the company's prior audited or reviewed financials into a restated status. Corrected financial statements must be filed in an amended 10-K or 10-Q once the company completes its review. The filing does not set a specific deadline for the amended reports beyond standard SEC requirements.
Downstream, the restatement obliges U.S. Global Investors to notify counterparties who may have relied on the original filings, including lenders, auditors and regulators. It also starts the clock for any potential SEC comment process on the amended filings and may require the company to update disclosures in ongoing registration statements or proxy materials.
If material weaknesses in internal controls are identified during the process, those must be reported in the company's next Section 404 assessment.
This marks the first such Item 4.02 disclosure by the company in the current reporting cycle. U.S. Global Investors, with a CIK of 0000754811, last filed its annual report on Form 10-K for the fiscal year ended June 30, 2025 on or about September 2025. The June 2, 2026 8-K includes exhibits that will be incorporated by reference into future SEC filings.
Primary sources: SEC Form 8-K filed June 2, 2026 (Accession No. 0001437749-26-019086).
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