KG · Nasdaq
Companies at this level ended the following year delisted, bankrupt, restated or silent 9.2% of the time, against 4.0% for companies with a clean record.
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Kestrel Group Ltd (the “Company”) is unable to file, without unreasonable effort or expense, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 (the “Quarterly Report”) by the prescribed filing date for the reasons stated below. On August 11, 2025, the Company's Audit Committee, after considering and concurring with the recommendation of management and Kestrel Group LLC (“Kestrel”) independent registered public accounting firm, Frazier & Deeter, LLC, that due to certain matters related to Kestrel’s revenue recognition for the three months ended March 31, 2025 and 2024 and for the years ended December 31, 2024 and 2023 (the “Relevant Periods”) which are under review by Kestrel’s independent registered public accounting firm and are expected to result in a restatement of such historical financial statements. The Company's Audit Committee has concluded that due to the requirement to restate the financial statements for the Relevant Periods, the financial statements for the Relevant Periods should no longer be relied upon. However, the Company currently believes that such errors are not material with respect to the Company’s combined consolidated financial statements reflecting the combination of the Kestrel and Maiden Holdings, Ltd. businesses. The Company anticipates filing a Form 8-K/A to file such restated historical consolidated financial statements and the pro forma combined consolidated financial statements for the year ended December 31, 2024 and the three months ended March 31, 2025. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended, the Company expects to file the Quarterly Report on or before August 18, 2025, which is the end of the five-calendar day extension period following the prescribed due date
NT 10-Q, filed 2025-08-11 · restatement
2026-04-06auditor changed or resigned SEC →
Kestrel Group Ltd (the “Company”) is unable to file, without unreasonable effort or expense, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 (the “Quarterly Report”) by the prescribed filing date for the reasons stated below. On August 11, 2025, the Company's Audit Committee, after considering and concurring with the recommendation of management and Kestrel Group LLC (“Kestrel”) independent registered public accounting firm, Frazier & Deeter, LLC, that due to certain matters related to Kestrel’s revenue recognition for the three months ended March 31, 2025 and 2024 and for the years ended December 31, 2024 and 2023 (the “Relevant Periods”) which are under review by Kestrel’s independent registered public accounting firm and are expected to result in a restatement of such historical financial statements. The Company's Audit Committee has concluded that due to the requirement to restate the financial statements for the Relevant Periods, the financial statements for the Relevant Periods should no longer be relied upon. However, the Company currently believes that such errors are not material with respect to the Company’s combined consolidated financial statements reflecting the combination of the Kestrel and Maiden Holdings, Ltd. businesses. The Company anticipates filing a Form 8-K/A to file such restated historical consolidated financial statements and the pro forma combined consolidated financial statements for the year ended December 31, 2024 and the three months ended March 31, 2025. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended, the Company expects to file the Quarterly Report on or before August 18, 2025, which is the end of the five-calendar day extension period following the prescribed due date
2025-08-11accounts declared unreliable SEC →
2025-06-24auditor changed or resigned SEC →
reportingrisk.com scores every active US filer on three things a company tells the SEC about itself: late-filing notices on Form NT, 8-K item 4.02 (past accounts declared unreliable) and 4.01 (auditor changes). 1,012 are flagged today.
Every score is frozen and checked twelve months later. Across 91,452 of them, a company scoring 4 or more ended that year delisted, bankrupt, restated or silent 17.2% of the time, against 4.0% for a clean record. Scores before 2026-09-27 were reconstructed from the filing history as it stood at each date, so the record is a backtest rather than years of live calls.
See the ledger → Every company the score flagged that later failed, what it told the SEC on the way down, and the ones it missed.Every item above is a filing this company
made with the SEC.
Snapshot 2026-11-04 · data from SEC EDGAR (public domain) · not
investment advice