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CONX Corp.: material weakness open at least 2,128 days

By Russell Tomoum, Ctrl Worx™. Built from its own SEC filings. How the Clock works.

CONX Corp. reported ineffective internal control over financial reporting because of a material weakness in 5 filings since Mar 16, 2022. It stated one or more material weaknesses in 17 more SEC filings that gave no conclusion on whether that control is effective. The latest was its 10-Q for the period ended Sep 30, 2025.

Checked against SEC EDGAR: Oct 29, 2026 · Entry #11704

Causes the company named

Complex or non-routine accounting · 21Accounting expertise and resources · 5Segregation of duties · 4ITGC: general · 4Not described · 1

Material weaknesses in accounting for complex financial instruments and insufficient qualified personnel and IT controls.

What the latest filing says

Based upon that evaluation, our Certifying Officer concluded that, due to the material weakness we have identified in our internal control over financial reporting described in management’s report on internal controls over financial reporting set forth below, our disclosure controls and procedures were not effective. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our annual or interim unaudited condensed financial statements will not be prevented, or detected and corrected on a timely basis. Our management concluded that there were material weaknesses related to (i) our accounting for complex financial instruments, including debt, equity and derivative instruments, and non-recurring transactions, and (ii) insufficient qualified accounting personnel, accounting systems, segregation of duties and information technology controls. While we have processes to identify and appropriately apply applicable accounting requirements, we plan to continu [...]

From the controls section of the 10-Q filed Apr 13, 2026. Read the full filing on SEC EDGAR.

Company response: CONX Corp. 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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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 CONX Corp. or the SEC. Not investment advice. Why you can rely on the Watch List.