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Community Redevelopment Inc.: material weakness history

Community Redevelopment Inc. reported ineffective internal control over financial reporting because of a material weakness in 6 filings since Apr 14, 2021. It stated one or more material weaknesses in 9 more SEC filings that gave no conclusion on whether that control is effective. The latest was its 10-K for the period ended Dec 31, 2024.

Checked against SEC EDGAR: Oct 29, 2026 · Entry #10334

Causes the company named

Segregation of duties · 10ITGC: general · 9Accounting expertise and resources · 7Not described · 5Financial close and reporting · 4Entity-level and governance · 3Complex or non-routine accounting · 1

Material weaknesses in internal control over financial reporting were identified, but specific causes were not disclosed.

What the latest filing says

Based upon that evaluation, our Certifying Officers concluded that, as of December 31, 2022, our disclosure controls and procedures were not effective. The ineffectiveness of our disclosure controls and procedures was due to the existence of material weaknesses identified below. We do not expect that our disclosure controls and procedures will prevent all errors and all instances of fraud. Disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Further, the design of disclosure controls and procedures must reflect the fact that there are resource constraints, and the benefits must be considered relative to their costs. Because of the inherent limitations in all disclosure controls and procedures, no evaluation of disclosure controls and procedures can provide absolute assurance that we have detected all our control deficiencies and instances of fraud, if any. The design of disclosure controls and procedures also is based partly on certain [...]

From the controls section of the 10-K filed Mar 19, 2025. Read the full filing on SEC EDGAR.

Company response: Community Redevelopment Inc. can send a statement or a link to its remediation update to russell@ctrlworx.com. We post it here, unedited and dated.

Filings

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Get an email when Community Redevelopment Inc files a 10-K or 10-Q that reports a material weakness, or says its controls are effective again.

Based on public SEC filings. Causes are grouped into standard categories by Ctrl Worx™. The filings are the authority. Ctrl Worx is not affiliated with Community Redevelopment Inc. or the SEC. Not investment advice. Why you can rely on the Watch List.