Red flags in SEC filings

What it is: The company tells investors that financial statements it already published should no longer be relied on, usually because an error was found and a restatement is coming.

Why it matters: This is the clearest signal a filing can send that reported figures were wrong. Earlier earnings, margins or cash flows may change, and the company's controls are in question.

What it is: The company changed its independent auditor. The filing must say whether there were disagreements or 'reportable events' with the old auditor.

Why it matters: Most changes are routine (fees, a rotation), but an auditor leaving mid-year, or a filing that mentions disagreements or material weaknesses, often comes before bigger problems.

What it is: A notice that the annual or quarterly report will be late. It buys the company a few extra days and must give a reason.

Why it matters: A late filing is often the first public sign of an accounting review, an auditor dispute or a liquidity problem; the stated reason is worth reading closely.

What it is: The company's own filing says there is substantial doubt it can keep operating for the next twelve months without new money, a deal or a waiver from lenders.

Why it matters: It is the filing's way of saying the cash may run out. Growth or profit figures matter less than the funding plan the same filing describes.