Ctrl Worx Watch List › Company
Skkynet Cloud Systems, Inc. (SKKY): material weakness open at least 2,189 days
By Russell Tomoum, Ctrl Worx™. Built from its own SEC filings. How the Clock works.
Skkynet Cloud Systems, Inc. reported ineffective internal control over financial reporting because of a material weakness in 4 filings since Feb 14, 2023. It stated one or more material weaknesses in 4 more SEC filings that gave no conclusion on whether that control is effective. The latest was its 10-Q for the period ended Jul 31, 2026.
Ctrl Worx Watch List™ status
On the ClockStill filing, and no annual report of its own says the weakness is fixed.
Checked against SEC EDGAR: Oct 29, 2026 · Entry #10954
Causes the company named
Financial close and reporting · 8Accounting expertise and resources · 8Segregation of duties · 2Entity-level and governance · 1
Insufficient full-time accounting staff, technical expertise, written policies, reporting standards, and multi-layer review processes limit timely, accurate financial transaction processing.
What the latest filing says
Based on its evaluation, our management concluded that there are material weaknesses in our internal control over financial reporting. We lack full time personnel in accounting and financial staff to sufficiently monitor and process financial transactions in an efficient and timely manner. Our history of losses has severely limited our budget to hire and train enough accounting and financial personnel needed to adequately provide this function. Consequently, we lacked sufficient technical expertise, reporting standards and written policies and procedures along with a lack of a formal review process which includes multiple layers of review. A material weakness is a deficiency, or a combination of control deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. Changes in Internal Control over Financial Reporting There have been no changes in our internal control over financial reporting identified in [...]
From the controls section of the 10-Q filed Sep 15, 2026. Read the full filing on SEC EDGAR.
Company response: Skkynet Cloud Systems, Inc. can send a statement or a link to its remediation update to russell@ctrlworx.com. We post it here, unedited and dated.
Filings
| Filed | Form | Period | Controls | Causes | Filing |
|---|---|---|---|---|---|
| Sep 15, 2026 | 10-Q | Jul 31, 2026 | Material weakness stated, no ICFR conclusion | Financial close and reporting; Accounting expertise and resources | EDGAR |
| Jan 27, 2026 | 10-K | Oct 31, 2025 | Not effective | Segregation of duties; Financial close and reporting; Accounting expertise and resources | EDGAR |
| Jan 31, 2025 | 10-K | Oct 31, 2024 | Not effective | Segregation of duties; Financial close and reporting; Accounting expertise and resources | EDGAR |
| Jan 25, 2024 | 10-K | Oct 31, 2023 | Not effective | Financial close and reporting; Accounting expertise and resources | EDGAR |
| Feb 14, 2023 | 10-K/A | Oct 31, 2022 | Not effective | Financial close and reporting; Accounting expertise and resources; Entity-level and governance | EDGAR |
| Jan 27, 2023 | 10-K | Oct 31, 2022 | Material weakness stated, no ICFR conclusion | Financial close and reporting; Accounting expertise and resources | EDGAR |
| Jan 26, 2022 | 10-K | Oct 31, 2021 | Material weakness stated, no ICFR conclusion | Financial close and reporting; Accounting expertise and resources | EDGAR |
| Feb 9, 2021 | 10-K | Oct 31, 2020 | Material weakness stated, no ICFR conclusion | Financial close and reporting; Accounting expertise and resources | EDGAR |
Others on the Clock in the same industry
By SEC industry code: 7372, Services-Prepackaged Software, then related codes.
- Artificial Intelligence Technology Solutions Inc. (AITX) · open since Nov 2020 or earlier
- FingerMotion, Inc. (FNGR) · open since Nov 2020 or earlier
- 3D SYSTEMS CORP (DDD) · open since Dec 2020 or earlier
- Appsoft Technologies, Inc. (ASFT) · open since Dec 2020 or earlier
- CYBERLOQ TECHNOLOGIES, INC. (ACRT) · open since Dec 2020 or earlier
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