Schedule of restated financial information |
Schedule of restated financial information | |
| | | |
| | | |
| | |
| |
Impact of correction of error | |
December 31, 2021 | |
As previously reported | | |
Adjustments | | |
As restated | |
| |
| | |
| | |
| |
Total assets | |
$ | 11,159,915 | | |
$ | 4,137,124 | | |
$ | 15,297,039 | |
| |
| | | |
| | | |
| | |
Current liabilities | |
| 7,642,214 | | |
| 3,272,736 | | |
| 10,914,950 | |
Net, liabilities of discontinued operations | |
| 471,318 | | |
| (211,612 | ) | |
| 259,706 | |
Non-current liabilities | |
| 265,019 | | |
| – | | |
| 265,019 | |
Total liabilities | |
| 8,378,551 | | |
| 3,061,124 | | |
| 11,439,675 | |
| |
| | | |
| | | |
| | |
Mezzanine equity | |
| – | | |
| 3,125,002 | | |
| 3,125,002 | |
| |
| | | |
| | | |
| | |
Preferred stock | |
| 77,602,722 | | |
| (3,472,224 | ) | |
| 74,130,498 | |
Accumulated deficit | |
| (66,194,744 | ) | |
| – | | |
| (66,194,744 | ) |
Others | |
| (8,626,614 | ) | |
| 1,423,222 | | |
| (7,203,392 | ) |
Total deficiency in shareholders' equity | |
$ | 2,781,364 | | |
$ | (2,049,002 | ) | |
$ | 732,362 | |
ii. Statement of operations
| |
Impact of correction of error - year | |
Year ended December 31, 2021 | |
As previously reported | | |
Adjustments | | |
As restated | |
| |
| | |
| | |
| |
Revenue | |
$ | 10,008,860 | | |
$ | (129,803 | ) | |
$ | 9,879,057 | |
Cost of sales | |
| (3,848,406 | ) | |
| 79,953 | | |
| (3,768,453 | ) |
Gross margin | |
| 6,160,454 | | |
| (49,850 | ) | |
| 6,110,604 | |
Operating expense | |
| (4,534,352 | ) | |
| 85,872 | | |
| (4,448,480 | ) |
Income from operations | |
$ | 1,626,102 | | |
$ | 36,022 | | |
$ | 1,662,124 | |
Other income (expense) | |
| (3,055,015 | ) | |
| 1,089,279 | | |
| (1,965,736 | ) |
Net loss before discontinued operations | |
| ) | |
| | |
| ) |
Income (loss) from discontinued operations | |
| 1,019,206 | | |
| (49,301 | ) | |
| 969,905 | |
Net income (loss) | |
$ | (409,707 | ) | |
$ | 1,076,000 | | |
$ | 666,293 | |
Basic and Diluted Earnings (loss) per Share | |
| | | |
| | | |
| | |
Continued Operations | |
| (0.01 | ) | |
| | | |
| (0.01 | ) |
Discontinued Operations | |
| 0.01 | | |
| | | |
| 0.01 | |
Weighted Average Shares Outstanding - Basic Earnings (loss) per Share | |
| | | |
| | | |
| | |
Continued Operations | |
| 128,021,527 | | |
| | | |
| 128,021,527 | |
Discontinued Operations | |
| 128,021,527 | | |
| | | |
| 128,021,527 | |
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