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Yotta Acquisition Corp (YOTA): material weakness open 1,398 days

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

Yotta Acquisition Corp reported ineffective internal control over financial reporting because of a material weakness in 1 filing since Mar 10, 2023. 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-Q for the period ended Mar 31, 2025.

Ctrl Worx Watch List™ status

On the Clock
3.8 yearsopen since Dec 31, 2022
10-Q, May 20, 2025latest filing that reports the weakness. Read it on SEC EDGAR
#513 of 1,250on the Clock by time open, tied with 45 other companies that share its start date. See the Clock

Behind on filings: late notice for the quarter ended Sep 30, 2025, no report since May 20, 2025. No annual report of its own says the weakness is fixed.

Checked against SEC EDGAR: Oct 29, 2026 · Entry #12339

Filings with a weakness10
First in our dataMar 10, 2023
AuditorMarcum LLP.

Causes the company named

Segregation of duties · 10Financial close and reporting · 10ITGC: user access · 10Entity-level and governance · 10Complex or non-routine accounting · 7Tax · 7

Multiple control deficiencies including inadequate segregation of duties, unauthorized general ledger access, and ineffective oversight of complex transactions and tax matters.

What the latest filing says

following material weaknesses which were previously disclosed in Item 9A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, are not yet remediated. Management continues to devote significant planning and execution efforts toward remediation these material weaknesses: ● We lack sufficient segregation of duties and controls with respect to our record keeping, asset custody, trust asset custody and authorization controls. ● We lack controls to prevent unauthorized access to our general ledger including the ability to record journal entries including the ability to record and/or modify journal entries. ● We lack controls to identify and account for certain complex non-routine transactions. ● The design of our controls over the approval of related party transactions is ineffective including requirements to provide contemporaneous documentation of the business purpose and validity of travel expenses. ● The design of our controls over the preparation of the tax provision, tax accrual and franchise tax accrual as well as related disbursements fr [...]

From the controls section of the 10-Q filed May 20, 2025. Read the full filing on SEC EDGAR.

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

Filings

FiledFormPeriodControlsCausesFiling
May 20, 202510-QMar 31, 2025Material weakness stated, no ICFR conclusionSegregation of duties; Financial close and reporting; Complex or non-routine accounting; ITGC: user access; Entity-level and governance; TaxEDGAR
Mar 31, 202510-KDec 31, 2024Material weakness stated, no ICFR conclusionSegregation of duties; Financial close and reporting; Complex or non-routine accounting; ITGC: user access; Entity-level and governance; TaxEDGAR
Nov 14, 202410-QSep 30, 2024Material weakness stated, no ICFR conclusionSegregation of duties; Financial close and reporting; Complex or non-routine accounting; ITGC: user access; Entity-level and governance; TaxEDGAR
Aug 14, 202410-QJun 30, 2024Material weakness stated, no ICFR conclusionSegregation of duties; Financial close and reporting; Complex or non-routine accounting; ITGC: user access; Entity-level and governance; TaxEDGAR
May 31, 202410-QMar 31, 2024Material weakness stated, no ICFR conclusionSegregation of duties; Financial close and reporting; Complex or non-routine accounting; ITGC: user access; Entity-level and governance; TaxEDGAR
Apr 15, 202410-KDec 31, 2023Material weakness stated, no ICFR conclusionSegregation of duties; Financial close and reporting; Complex or non-routine accounting; ITGC: user access; Entity-level and governance; TaxEDGAR
Dec 20, 202310-QSep 30, 2023Material weakness stated, no ICFR conclusionSegregation of duties; Financial close and reporting; Complex or non-routine accounting; ITGC: user access; Entity-level and governance; TaxEDGAR
Sep 18, 202310-QJun 30, 2023Material weakness stated, no ICFR conclusionSegregation of duties; Financial close and reporting; ITGC: user access; Entity-level and governanceEDGAR
May 23, 202310-QMar 31, 2023Material weakness stated, no ICFR conclusionSegregation of duties; Financial close and reporting; ITGC: user access; Entity-level and governanceEDGAR
Mar 10, 202310-KDec 31, 2022Not effectiveSegregation of duties; Financial close and reporting; ITGC: user access; Entity-level and governanceEDGAR

Others on the Clock in the same industry

By SEC industry code: 5500, Retail-Auto Dealers & Gasoline Stations, then related codes.

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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 Yotta Acquisition Corp or the SEC. Not investment advice. Why you can rely on the Watch List.