Consolidated Balance Sheet as of September 30, 2024 (unaudited) (in thousands)

​

As Previously Reported

​

Adjustment

​

As Restated

Accrued Expenses

​

$ 

4,631

​

$ 

(1,707)

​

$ 

2,924

Due to Related Party

​

$ 

686

​

$ 

(686)

​

$ 

-

Debt

​

$ 

15,966

​

$ 

(8,892)

​

$ 

7,074

Due to Libertas

​

$ 

1,057

​

$ 

(1,057)

​

$ 

-

Derivative liabilities

​

$ 

-

​

$ 

3,925

​

$ 

3,925

Total current liabilities

​

$ 

38,649

​

$ 

(8,417)

​

$ 

30,232

Total liabilities

​

$ 

40,775

​

$ 

(8,417)

​

$ 

32,358

Common Stock

​

$ 

2

​

$ 

1

​

$ 

3

Additional paid-in capital

​

$ 

11,425

​

$ 

6,103

​

$

17,528

Accumulated deficit

​

$ 

(39,910)

​

$ 

2,314

​

$

(37,596)

Stockholders’ deficit

​

$ 

(28,340)

​

$ 

8,418

​

$

(19,922)

Total stockholders’ deficit

​

$

(27,029)

​

$

8,418

​

$

(18,611)

Unaudited Consolidated Statement of Operations and Comprehensive Loss for the three months ended September 30, 2024 (in thousands)

​

As Previously Reported

​

Adjustment

​

As Restated

Revenues

​

$ 

6,074

​

$ 

(77)

​

$ 

5,997

Selling, general and administrative expenses

​

$ 

4,900

​

$ 

(570)

​

$ 

4,330

Loss from operations

​

$ 

(3,026)

​

$ 

493

​

$ 

(2,533)

Interest expense

​

$ 

(667)

​

$ 

(10)

​

$ 

(677)

Loss on extinguishment of debt

​

$ 

-

​

$ 

(952)

​

$ 

(952)

Gain on extinguishment of debt

​

$ 

-

​

$ 

2,258

​

$ 

2,258

Change in fair value of forward purchase agreement

​

$ 

(8,575)

​

$ 

452

​

$ 

(8,123)

Gain on forward purchase agreement modification

​

$ 

1,443

​

$ 

104

​

$ 

1,547

Change in fair value on derivative liabilities

​

$ 

-

​

$ 

(31)

​

$ 

(31)

Total other income (expense)

​

$ 

(9,152)

​

$ 

1,821

​

$ 

(7,331)

Loss before income taxes

​

$ 

(12,178)

​

$ 

2,314

​

$ 

(9,864)

Net loss

​

$ 

(12,178)

​

$ 

2,314

​

$ 

(9,864)

Net loss attributable to shareholders

​

$

(12,238)

​

$

2,314

​

$

(9,924)

Comprehensive loss

​

$ 

(12,159)

​

$ 

2,314

​

$

(9,845)

Comprehensive loss attributable to shareholders

​

$

(12,219)

​

$

2,314

​

$

(9,905)

Basic and diluted net loss per share, common stock

​

$ 

(0.61)

​

$ 

0.14

​

$

(0.47)

Weighted average shares outstanding of common stock

​

​

20,171,922

​

​

​

​

​

21,152,671

Unaudited Consolidated Statement of Operations and Comprehensive Loss for the nine months ended September 30, 2024 (in thousands)

​

As Previously Reported

​

Adjustment

​

As Restated

Revenues

​

$ 

17,299

​

$ 

(918)

​

$ 

16,381

Selling, general and administrative expenses

​

$ 

11,773

​

$ 

(1,411)

​

$ 

10,362

Loss from operations

​

$ 

(5,890)

​

$ 

493

​

$ 

(5,397)

Interest expense

​

$ 

(1,820)

​

$ 

(10)

​

$ 

(1,830)

Loss on extinguishment of debt

​

$ 

(592)

​

$ 

(952)

​

$ 

(1,544)

Gain on extinguishment of debt

​

$ 

-

​

$ 

2,258

​

$ 

2,258

Change in fair value of forward purchase agreement

​

$ 

(8,575)

​

$ 

452

​

$ 

(8,123)

Gain on forward purchase agreement modification

​

$ 

1,443

​

$ 

104

​

$ 

1,547

Change in fair value on derivative liabilities

​

$ 

-

​

$ 

(31)

​

$ 

(31)

Total other income (expense)

​

$ 

(11,108)

​

$ 

1,821

​

$ 

(9,287)

Loss before income taxes

​

$ 

(16,998)

​

$ 

2,314

​

$ 

(14,684)

Net loss

​

$ 

(16,998)

​

$ 

2,314

​

$ 

(14,684)

Net loss attributable to shareholders

​

$

(17,050)

​

$

2,314

​

$

(14,736)

Comprehensive loss

​

$ 

(16,969)

​

$ 

2,314

​

$

(14,655)

Comprehensive loss attributable to shareholders

​

​

(17,021)

​

​

2,314

​

​

(14,707)

Basic and diluted net loss per share, common stock

​

$ 

(1.09)

​

$ 

0.17

​

$

(0.92)

Weighted average shares outstanding of common stock

​

​

15,643,799

​

​

​

​

​

15,973,225

Unaudited Consolidated Statement of Stockholders’ Deficit for the three months ended September 30, 2024 (in thousands)

​

As Previously Reported

​

Adjustment

​

As Restated

Common Stock

​

$ 

2

​

$ 

1

​

$ 

3

Additional paid-in capital

​

$ 

11,425

​

$ 

6,103

​

$

17,528

Accumulated deficit

​

$ 

(39,910)

​

$ 

2,314

​

$

(37,596)

Stockholders’ deficit

​

$ 

(28,340)

​

$ 

8,418

​

$

(19,922)

Total stockholders’ deficit

​

$ 

(27,029)

​

$ 

8,418

​

$

(18,611)

Unaudited Consolidated Statement of Stockholders’ Deficit for the nine months ended September 30, 2024 (in thousands)

​

As Previously Reported

​

Adjustment

​

As Restated

Common Stock

​

$ 

2

​

$ 

1

​

$ 

3

Additional paid-in capital

​

$ 

11,425

​

$ 

6,103

​

$

17,528

Accumulated deficit

​

$ 

(39,910)

​

$ 

2,314

​

$

(37,596)

Stockholders’ deficit

​

$ 

(28,340)

​

$ 

8,418

​

$

(19,922)

Total stockholders’ deficit

​

$ 

(27,029)

​

$ 

8,418

​

$

(18,611)

Unaudited Consolidated Statement of Cash Flows for the nine months ended September 30, 2024 (in thousands)

​

As Previously Reported

​

Adjustment

​

As Restated

Net loss

​

$ 

(16,998)

​

$ 

2,314

​

$

(14,684)

Loss on extinguishment of debt

​

$ 

592

​

$ 

952

​

$

1,544

Gain on extinguishment of debt

​

$ 

-

​

$ 

(2,258)

​

$

(2,258)

Change in fair value of forward purchase agreement

​

$ 

8,575

​

$ 

(452)

​

$

8,123

Gain on modification of forward purchase agreement

​

$ 

(1,443)

​

$ 

(104)

​

$

(1,547)

Change in fair value on derivative liabilities

​

$

-

​

$

31

​

$

31

Net cash used in operating activities

​

$ 

(3,251)

​

$ 

483

​

$

(2,768)