v3.26.1
Restatement of Previously Issued Unaudited Condensed Consolidated Financial Statements (Tables)
9 Months Ended
Sep. 30, 2025
Restatement of Previously Issued Unaudited Condensed Consolidated Financial Statements  
Summary of restatement of previously issued unaudited condensed consolidated financial statements

Condensed Consolidated Balance Sheet as of September 30, 2025 (Excerpt)

  ​ ​ ​

As Previously

  ​ ​ ​

  ​ ​ ​

Reported

Adjustment

As Restated

Accounts receivable

 

$

4,564

 

$

(1,391)

 

$

3,173

Total current assets

 

$

7,593

 

$

(1,391)

 

$

6,202

Total assets

 

$

9,086

 

$

(1,391)

 

$

7,695

Accumulated deficit

 

$

(10,912)

 

$

(1,391)

 

$

(12,303)

Total stockholders’ deficit

 

$

(5,053)

 

$

(1,391)

 

$

(6,444)

Total liabilities and stockholders’ deficit

 

$

9,086

 

$

(1,391)

 

$

7,695

Condensed Consolidated Statement of Operations — Three Months Ended September 30, 2025 (Excerpt)

  ​ ​ ​

As Previously 

  ​ ​ ​

  ​ ​ ​

Reported

Adjustment

As Restated

Revenues

 

$

5,248

 

$

(471)

 

$

4,777

Network design and installation

 

$

4,454

 

$

(471)

 

$

3,983

Gross profit

 

$

1,888

 

$

(471)

 

$

1,417

Operating income (loss)

 

$

118

 

$

(471)

 

$

(353)

Loss from operations before income taxes

 

$

(167)

 

$

(471)

 

$

(638)

Net loss

 

$

(168)

 

$

(471)

 

$

(639)

Net loss per share, basic and diluted

 

$

(0.03)

 

$

(0.10)

 

$

(0.13)

Condensed Consolidated Statement of Mezzanine Equity and Stockholders’ Deficit — Three Months Ended September 30, 2025 (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Net loss

 

$

(168)

 

$

(471)

 

$

(639)

Accumulated deficit

 

$

(10,912)

 

$

(1,391)

 

$

(12,303)

Total stockholders’ deficit

 

$

(5,053)

 

$

(1,391)

 

$

(6,444)

Condensed Consolidated Statement of Operations — Nine Months Ended September 30, 2025 (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Revenues

 

$

16,939

 

$

(1,391)

 

$

15,548

Network design and installation

 

$

14,990

 

$

(1,391)

 

$

13,599

Gross profit

 

$

4,872

 

$

(1,391)

 

$

3,481

Operating loss

 

$

(71)

 

$

(1,391)

 

$

(1,462)

Loss from operations before income taxes

 

$

(542)

 

$

(1,391)

 

$

(1,933)

Net loss

 

$

(547)

 

$

(1,391)

 

$

(1,938)

Net loss per share, basic and diluted

 

$

(0.11)

 

$

(0.28)

 

$

(0.39)

Condensed Consolidated Statement of Mezzanine Equity and Stockholders’ Deficit — Nine Months Ended September 30, 2025 (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Net loss

 

$

(547)

 

$

(1,391)

 

$

(1,938)

Accumulated deficit

 

$

(10,912)

 

$

(1,391)

 

$

(12,303)

Total stockholders’ deficit

 

$

(5,053)

 

$

(1,391)

 

$

(6,444)

Condensed Consolidated Statement of Cash Flows — Nine Months Ended September 30, 2025 (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Net loss

 

$

(547)

 

$

(1,391)

 

$

(1,938)

Accounts receivable

 

$

(113)

 

$

1,391

 

$

1,278

Net cash used in operating activities

 

$

(1,308)

 

$

 

$

(1,308)

Condensed Consolidated Balance Sheet as of March 31, 2025 (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Accounts receivable

 

$

6,142

 

$

(171)

 

$

5,971

Total current assets

 

$

8,077

 

$

(171)

 

$

7,906

Total assets

 

$

9,526

 

$

(171)

 

$

9,355

Accumulated deficit

 

$

(10,636)

 

$

(171)

 

$

(10,807)

Total stockholders’ deficit

 

$

(4,777)

 

$

(171)

 

$

(4,948)

Total liabilities and stockholders’ deficit

 

$

9,526

 

$

(171)

 

$

9,355

Condensed Consolidated Statement of Operations — Three Months Ended March 31, 2025 (Q1) (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Revenues

 

$

5,617

 

$

(171)

 

$

5,446

Network design and installation

 

$

5,142

 

$

(171)

 

$

4,971

Gross profit

 

$

1,430

 

$

(171)

 

$

1,259

Operating loss

 

$

(198)

 

$

(171)

 

$

(369)

Net loss

$

(271)

 

$

(171)

 

$

(442)

Net loss per share, basic and diluted

 

$

(0.05)

 

$

(0.04)

 

$

(0.09)

Condensed Consolidated Statement of Mezzanine Equity and Stockholders’ Deficit — Three Months Ended March 31, 2025 (Q1) (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Net loss

 

$

(271)

 

$

(171)

 

$

(442)

Accumulated deficit

 

$

(10,636)

 

$

(171)

 

$

(10,807)

Total stockholders’ deficit

 

$

(4,777)

 

$

(171)

 

$

(4,948)

Condensed Consolidated Statement of Cash Flows — Three Months Ended March 31, 2025 (Q1) (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Net loss

 

$

(271)

 

$

(171)

 

$

(442)

Accounts receivable

 

$

(1,691)

 

$

171

 

$

(1,520)

Net cash used in operating activities

 

$

(1,536)

 

$

 

$

(1,536)

Condensed Consolidated Balance Sheet as of June 30, 2025 (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Accounts receivable

 

$

6,953

 

$

(920)

 

$

6,033

Total current assets

 

$

9,051

 

$

(920)

 

$

8,131

Total assets

 

$

10,545

 

$

(920)

 

$

9,625

Accumulated deficit

 

$

(10,744)

 

$

(920)

 

$

(11,664)

Total stockholders’ deficit

 

$

(4,885)

 

$

(920)

 

$

(5,805)

Total liabilities and stockholders’ deficit

 

$

10,545

 

$

(920)

 

$

9,625

Condensed Consolidated Statement of Operations — Three Months Ended June 30, 2025 (Q2) (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Revenues

 

$

6,074

 

$

(748)

 

$

5,326

Network design and installation

 

$

5,394

 

$

(748)

 

$

4,646

Gross profit

 

$

1,554

 

$

(748)

 

$

806

Operating income (loss)

 

$

9

 

$

(748)

 

$

(739)

Net loss

$

(108)

 

$

(748)

 

$

(857)

Net loss per share, basic and diluted

 

$

(0.02)

 

$

(0.15)

 

$

(0.17)

Condensed Consolidated Statement of Mezzanine Equity and Stockholders’ Deficit — Three Months Ended June 30, 2025 (Q2) (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Net loss

 

$

(108)

 

$

(748)

 

$

(857)

Accumulated deficit

 

$

(10,744)

 

$

(920)

 

$

(11,664)

Total stockholders’ deficit

 

$

(4,885)

 

$

(920)

 

$

(5,805)

Condensed Consolidated Statement of Operations — Six Months Ended June 30, 2025 (H1) (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Revenues

 

$

11,691

 

$

(920)

 

$

10,771

Network design and installation

 

$

10,536

 

$

(920)

 

$

9,616

Gross profit

 

$

2,984

 

$

(920)

 

$

2,064

Operating loss

 

$

(189)

 

$

(920)

 

$

(1,109)

Net loss

$

(379)

 

$

(920)

 

$

(1,299)

Net loss per share, basic and diluted

 

$

(0.08)

 

$

(0.18)

 

$

(0.26)

Condensed Consolidated Statement of Mezzanine Equity and Stockholders’ Deficit — Six Months Ended June 30, 2025 (H1) (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Net loss

 

$

(379)

 

$

(920)

 

$

(1,299)

Accumulated deficit

 

$

(10,744)

 

$

(920)

 

$

(11,664)

Total stockholders’ deficit

 

$

(4,885)

 

$

(920)

 

$

(5,805)

Condensed Consolidated Statement of Cash Flows — Six Months Ended June 30, 2025 (H1) (Excerpt)

As Previously

  ​ ​ ​

Reported

  ​ ​ ​

Adjustment

  ​ ​ ​

As Restated

Net loss

 

$

(379)

 

$

(920)

 

$

(1,299)

Accounts receivable

 

$

(2,502)

 

$

920

 

$

(1,582)

Net cash used in operating activities

 

$

(1,450)

 

$

 

$

(1,450)