Schedule of balance sheets |
| |
As Previously | | |
| | |
| |
March 31, 2022 | |
Reported | | |
Adjustments | | |
As Revised | |
Total assets | |
$ | 44,949,908 | | |
$ | — | | |
$ | 44,949,908 | |
| |
| | | |
| | | |
| | |
Preferred dividend payable | |
| — | | |
| 963,664 | | |
| 963,664 | |
Other | |
| 4,129,470 | | |
| — | | |
| 4,129,470 | |
Total liabilities | |
$ | 4,129,470 | | |
$ | 963,664 | | |
$ | 5,093,134 | |
| |
| | | |
| | | |
| | |
Additional paid-in capital | |
| 67,881,483 | | |
| (963,664 | ) | |
| 66,917,819 | |
Others | |
| (27,061,045 | ) | |
| — | | |
| (27,061,045 | ) |
Total shareholders’ deficit | |
$ | 40,820,438 | | |
$ | (963,664 | ) | |
$ | 39,856,774 | |
| |
As Previously | | |
| | |
| |
June 30, 2022 | |
Reported | | |
Adjustments | | |
As Revised | |
Total assets | |
$ | 43,218,537 | | |
$ | — | | |
$ | 43,218,537 | |
| |
| | | |
| | | |
| | |
Preferred dividend payable | |
| — | | |
| 1,102,654 | | |
| 1,102,654 | |
Other | |
| 3,764,360 | | |
| — | | |
| 3,764,360 | |
Total liabilities | |
$ | 3,764,360 | | |
$ | 1,102,654 | | |
$ | 4,867,014 | |
| |
| | | |
| | | |
| | |
Additional paid-in capital | |
| 67,953,176 | | |
| (1,102,654 | ) | |
| 66,850,522 | |
Others | |
| (28,498,999 | ) | |
| — | | |
| (28,498,999 | ) |
Total shareholders’ deficit | |
$ | 39,454,177 | | |
$ | (1,102,654 | ) | |
$ | 38,351,523 | |
| |
As Previously | | |
| | |
| |
September 30, 2022 | |
Reported | | |
Adjustments | | |
As Revised | |
Total assets | |
$ | 41,177,888 | | |
$ | — | | |
$ | 41,177,888 | |
| |
| | | |
| | | |
| | |
Preferred dividend payable | |
| — | | |
| 1,241,644 | | |
| 1,241,644 | |
Other | |
| 3,365,580 | | |
| — | | |
| 3,365,580 | |
Total liabilities | |
$ | 3,365,580 | | |
$ | 1,241,644 | | |
$ | 4,607,224 | |
| |
| | | |
| | | |
| | |
Additional paid-in capital | |
| 68,023,869 | | |
| 1,241,644 | | |
| 69,265,513 | |
Others | |
| (30,211,561 | ) | |
| — | | |
| (30,211,561 | ) |
Total shareholders’ deficit | |
$ | 37,812,308 | | |
$ | 1,241,644 | | |
$ | 39,053,952 | |
|
Schedule of operations |
| |
As Previously | | |
| | |
| |
Quarter ended March 31, 2022 | |
Reported | | |
Adjustments | | |
As Revised | |
Net Loss | |
$ | (1,455,596 | ) | |
$ | — | | |
$ | (1,455,596 | ) |
Preferred stock dividends | |
| — | | |
| (138,990 | ) | |
| (138,990 | ) |
Net loss allocable to common shareholders | |
$ | (1,455,596 | ) | |
$ | (138,990 | ) | |
| (1,594,586 | ) |
Loss per share | |
$ | (0.10 | ) | |
| | | |
$ | (0.11 | ) |
Weighted average common shares outstanding | |
| 14,510,703 | | |
| | | |
| 14,510,703 | |
| |
Impact of correction of error - quarter | | |
Impact of correction of error - year to date | |
| |
As Previously | | |
| | |
| | |
As Previously | | |
| | |
| |
Quarter ended June 30, 2022 | |
Reported | | |
Adjustments | | |
As Revised | | |
Reported | | |
Adjustments | | |
As Revised | |
Net Loss | |
$ | (1,437,954 | ) | |
$ | — | | |
$ | (1,437,954 | ) | |
$ | (2,893,550 | ) | |
| — | | |
$ | (2,893,550 | ) |
Preferred stock dividends | |
| — | | |
| (138,990 | ) | |
| (138,990 | ) | |
| — | | |
$ | (277,980 | ) | |
| (277,980 | ) |
Net loss allocable to common shareholders | |
$ | (1,437,954 | ) | |
$ | (138,990 | ) | |
$ | (1,576,944 | ) | |
$ | (2,893,550 | ) | |
$ | (277,980 | ) | |
$ | (3,171,530 | ) |
Loss per share | |
$ | (0.10 | ) | |
| | | |
$ | (0.11 | ) | |
$ | (0.20 | ) | |
| | | |
$ | (0.22 | ) |
Weighted average common shares outstanding | |
| 14,702,804 | | |
| | | |
| 14,702,804 | | |
| 14,607,209 | | |
| | | |
| 14,607,209 | |
| |
Impact of correction of error - quarter | | |
Impact of correction of error - year to date | |
| |
As Previously | | |
| | |
| | |
As Previously | | |
| | |
| |
Quarter ended September 30, 2022 | |
Reported | | |
Adjustments | | |
As Revised | | |
Reported | | |
Adjustments | | |
As Revised | |
Net Loss | |
$ | (1,712,562 | ) | |
$ | — | | |
$ | (1,712,562 | ) | |
$ | (4,606,112 | ) | |
| — | | |
$ | (4,606,112 | ) |
Preferred stock dividends | |
| — | | |
| (138,990 | ) | |
| (138,990 | ) | |
| — | | |
$ | (416,970 | ) | |
| (416,970 | ) |
Net loss allocable to common shareholders | |
$ | (1,712,562 | ) | |
$ | (138,990 | ) | |
$ | (1,851,552 | ) | |
$ | (4,606,112 | ) | |
$ | (416,970 | ) | |
$ | (5,023,082 | ) |
Loss per share | |
$ | (0.12 | ) | |
| | | |
$ | (0.13 | ) | |
$ | (0.31 | ) | |
| | | |
$ | (0.34 | ) |
Weighted average common shares outstanding | |
| 14,702,804 | | |
| | | |
| 14,702,804 | | |
| 14,639,523 | | |
| | | |
| 14,607,209 | |
|