| Summary of Revision of Previously Issued Financial Statements |
To correct the misstatements above, the Company revised its previously issued financial statements as follows:
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For the Three Months Ended September 30, 2021 |
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For the Nine Months Ended September 30, 2021 |
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CONSOLIDATED STATEMENT OF OPERATIONS |
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As Previously Reported |
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Adjustments |
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As Revised |
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As Previously Reported |
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Adjustments |
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As Revised |
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Interest and other expense |
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$ |
(58,257 |
) |
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$ |
(25,792 |
) |
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$ |
(84,049 |
) |
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$ |
(489,264 |
) |
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$ |
(55,361 |
) |
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$ |
(544,625 |
) |
Income (loss) before income taxes |
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$ |
390,961 |
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$ |
(25,792 |
) |
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$ |
365,169 |
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$ |
513,800 |
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$ |
(55,361 |
) |
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$ |
458,439 |
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Net income (loss) |
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$ |
374,432 |
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$ |
(25,792 |
) |
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$ |
348,640 |
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$ |
449,996 |
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$ |
(55,361 |
) |
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$ |
394,635 |
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Net income (loss) attributable to common
stockholders |
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$ |
72,113 |
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$ |
(25,792 |
) |
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$ |
46,321 |
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$ |
(684,716 |
) |
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$ |
(55,361 |
) |
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$ |
(740,077 |
) |
Basic net income (loss) per share
attributable to common stockholders |
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$ |
0.01 |
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$ |
— |
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$ |
0.01 |
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$ |
(0.11 |
) |
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$ |
(0.01 |
) |
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$ |
(0.12 |
) |
Diluted net income (loss) per share
attributable to common stockholders |
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$ |
0.01 |
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$ |
— |
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$ |
0.01 |
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$ |
(0.11 |
) |
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$ |
(0.01 |
) |
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$ |
(0.12 |
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For the Three Months Ended September 30, 2021 |
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For the Nine Months Ended September 30, 2021 |
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) |
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As Previously Reported |
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Adjustments |
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As Revised |
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As Previously Reported |
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Adjustments |
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As Revised |
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Net income (loss) |
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$ |
374,432 |
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$ |
(25,792 |
) |
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$ |
348,640 |
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$ |
449,996 |
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$ |
(55,361 |
) |
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$ |
394,635 |
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Total comprehensive income (loss) |
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$ |
385,576 |
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$ |
(25,792 |
) |
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$ |
359,784 |
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$ |
542,798 |
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$ |
(55,361 |
) |
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$ |
487,437 |
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Total comprehensive income (loss)
attributable to common stockholders |
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$ |
83,257 |
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$ |
(25,792 |
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$ |
57,465 |
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$ |
(591,914 |
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$ |
(55,361 |
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$ |
(647,275 |
) |
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Total Stockholders' Deficit |
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CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT |
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As Previously Reported |
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Adjustments |
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As Revised |
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Balance at January 1, 2021 |
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$ |
(14,608,186 |
) |
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$ |
(932,626 |
) |
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$ |
(15,540,812 |
) |
Net income (loss) |
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$ |
425,248 |
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$ |
(16,953 |
) |
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$ |
408,295 |
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Balance at March 31, 2021 |
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$ |
(14,566,353 |
) |
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$ |
(949,579 |
) |
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$ |
(15,515,932 |
) |
Net income (loss) |
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$ |
(349,684 |
) |
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$ |
(12,616 |
) |
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$ |
(362,300 |
) |
Balance at June 30, 2021 |
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$ |
(12,536,419 |
) |
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$ |
(962,195 |
) |
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$ |
(13,498,614 |
) |
Net income (loss) |
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$ |
374,432 |
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$ |
(25,792 |
) |
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$ |
348,640 |
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Balance at September 30, 2021 |
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$ |
(11,499,680 |
) |
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$ |
(987,987 |
) |
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$ |
(12,487,667 |
) |
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For the Nine Months Ended September 30, 2021 |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
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As Previously Reported |
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Adjustments |
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As Revised |
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Cash flows from operating activities: |
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Net income (loss) |
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$ |
449,996 |
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$ |
(55,361 |
) |
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$ |
394,635 |
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Changes in operating assets and liabilities: |
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Accrued expenses and other long-term liabilities |
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$ |
(669,852 |
) |
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$ |
55,361 |
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$ |
(614,491 |
) |
Net cash provided by (used in) operating activities |
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$ |
(707,889 |
) |
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$ |
— |
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$ |
(707,889 |
) |
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