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Leafbuyer Technologies, Inc. (LBUY): material weakness open 1,947 days

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

Leafbuyer Technologies, Inc. reported ineffective internal control over financial reporting because of a material weakness in 5 filings since Oct 13, 2021. The latest was its 10-K for the period ended Jun 30, 2025.

Checked against SEC EDGAR: Oct 29, 2026 · Entry #11182

Causes the company named

Segregation of duties · 5Accounting expertise and resources · 5Entity-level and governance · 5

Inadequate segregation of duties, insufficient supervisory oversight, and lack of technical accounting expertise for complex transactions.

What the latest filing says

Based on this evaluation, management concluded that our internal control over financial reporting was not effective as of June 30, 2025. The ineffectiveness of our internal control over financial reporting was due to the following material weaknesses, which are indicative of many small companies with small staff: (i) inadequate segregation of duties consistent with control objectives; and (ii) lack of multiple levels of supervision and review; and (iii) technical accounting support for complex debt and preferred stock transactions. A material weakness is a deficiency, or 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 financial statements will not be prevented or detected on a timely basis. In our assessment of the effectiveness of internal control over financial reporting as of June 30, 2024, we determined that our disclosure controls and procedures are not effective as of such date to ensure that information required to be disclosed in the reports that we fil [...]

From the controls section of the 10-K filed Sep 29, 2025. Read the full filing on SEC EDGAR.

Company response: Leafbuyer Technologies, 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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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 Leafbuyer Technologies, Inc. or the SEC. Not investment advice. Why you can rely on the Watch List.