In a Form 8-K filed with the U.S. Securities and Exchange Commission on October 26, Datavault AI said its June 2026 request to transfer approximately 1,328.43 BTC from a Biconomy-maintained wallet to an external account had still not been completed. The company also said the Bitcoin linked to its Scilex transaction should no longer be recognized as a digital asset and that four previously issued financial statements will be restated.

What Datavault AI Disclosed About the Bitcoin

Datavault AI’s filing states that the disputed balance stems from a September 2025 agreement under which Scilex agreed to buy company stock and prepay warrants with approximately 1,328.43 BTC. Datavault AI said it requested in June 2026 that the Bitcoin be transferred from a digital wallet maintained by Biconomy to an external account, but the withdrawal had not been completed as of October 26, 2026.

This is the core confirmed disclosure. Based on the facts provided, the filing does not establish theft, permanent loss, or the reason the withdrawal was not completed. Nor does it resolve which party controlled the withdrawal credentials or held legal title with sufficient clarity to make a more specific statement.

The 8-K also states that Datavault AI transferred 491.431 BTC back to Scilex through off-chain transfers between September 2025 and January 2026 in exchange for roughly $40.5 million in cash. This matters because the company says those exchanges were part of the accounting error it is now correcting.

Why the Bitcoin Was Removed From Assets

Datavault AI said the Bitcoin associated with the Scilex equity purchase did not qualify for recognition as the company’s digital asset. Instead, it concluded that the arrangement should be recorded as a subscription receivable arising from the issuance of common stock and presented as a reduction in stockholders’ equity.

The filing cites Financial Accounting Standards Board Accounting Standards Codification 505-10-45-2 and Regulation S-X Rule 5-02.29 as the basis for this presentation. Put simply, the company will no longer carry the BTC-related balance as a corporate-held digital asset on its books. It will instead treat the consideration as an amount still receivable in connection with an equity issuance, reducing equity rather than supporting assets.

Datavault AI also said the cash received from the 491.431 BTC exchange transactions should reduce the subscription receivable due from Scilex, rather than be recorded as proceeds from digital-asset sales.

Which Filings Are Affected and What Shareholders Will Watch Next

The 8-K says four previously issued financial statements covering reporting dates from September 30, 2025 through June 30, 2026 should no longer be relied upon and will need to be restated. The company also said its identification and evaluation of the errors remain preliminary, unaudited, and subject to change.

This makes the development more consequential than a narrow disclosure about wallet access. Shareholders are being told that multiple published statements on Datavault AI’s financial condition are under review, while management reassesses the company’s ability to continue as a going concern and secure additional financing.

The next concrete milestone will be an amended filing or subsequent SEC disclosure quantifying the revised financial statements and setting out any updated going-concern conclusion. The supplied facts do not specify a timetable for the restatement. Separately, Yahoo Finance reported that DVLT closed at $0.0670 on October 27, down 49.55% for the session. That points to a sharp market reaction but does not establish that the filing was the sole cause.