| Schedule of Companys consolidated financial statements |
The following tables represent restatements to our unaudited condensed consolidated financial statements for quarterly periods in fiscal 2021 that are impacted by the errors identified in Note 2.
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As Previously Reported |
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Adjustments |
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As Restated |
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Condensed Consolidated Statements of Operations: |
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Three Months Ended September 30, 2021 |
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Revenue |
$ |
9,561 |
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$ |
- |
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$ |
9,561 |
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Gross profit |
$ |
4,223 |
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$ |
- |
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$ |
4,223 |
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Loss from operations |
$ |
(17,372 |
) |
$ |
- |
|
$ |
(17,372 |
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Change in fair value of contingent earnout liability |
$ |
1,265 |
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$ |
(23,407 |
) |
$ |
(22,142 |
) |
Total other income (expense), net |
$ |
(15,060 |
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$ |
(23,407 |
) |
$ |
(38,467 |
) |
Loss before income taxes |
$ |
(32,432 |
) |
$ |
(23,407 |
) |
$ |
(55,839 |
) |
Net loss |
$ |
(32,701 |
) |
$ |
(23,407 |
) |
$ |
(56,108 |
) |
Basic and diluted net loss per share |
$ |
(0.49 |
) |
$ |
(0.34 |
) |
$ |
(0.83 |
) |
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Condensed Consolidated Balance Sheet: |
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September 30, 2021 |
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Total current assets |
$ |
276,343 |
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$ |
- |
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$ |
276,343 |
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Total assets |
$ |
303,563 |
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$ |
- |
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$ |
303,563 |
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Total current liabilities |
$ |
45,483 |
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$ |
- |
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$ |
45,483 |
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Contingent earnout liability |
$ |
77,131 |
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$ |
3,286 |
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$ |
80,417 |
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Total liabilities |
$ |
200,274 |
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$ |
3,286 |
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$ |
203,560 |
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Additional paid-in capital |
$ |
393,872 |
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$ |
20,121 |
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$ |
413,993 |
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Accumulated deficit |
$ |
(290,407 |
) |
$ |
(23,407 |
) |
$ |
(313,814 |
) |
Total stockholders’ equity (deficit) |
$ |
103,289 |
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$ |
(3,286 |
) |
$ |
100,003 |
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Consolidated Statements of Operations: |
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Three Months Ended December 31, 2021 |
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Revenue |
$ |
14,985 |
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$ |
- |
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$ |
14,985 |
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Gross profit |
$ |
8,658 |
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$ |
- |
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$ |
8,658 |
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Loss from operations |
$ |
(24,034 |
) |
$ |
- |
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$ |
(24,034 |
) |
Change in fair value of contingent earnout liability |
$ |
65,761 |
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$ |
4,629 |
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$ |
70,390 |
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Total other income (expense), net |
$ |
83,511 |
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$ |
4,629 |
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$ |
88,140 |
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Income before income taxes |
$ |
59,477 |
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$ |
4,629 |
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$ |
64,106 |
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Net income |
$ |
59,949 |
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$ |
4,629 |
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$ |
64,578 |
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Basic net income per share |
$ |
0.44 |
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$ |
0.04 |
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$ |
0.48 |
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Diluted net income per share |
$ |
0.38 |
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$ |
0.03 |
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$ |
0.41 |
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Consolidated Balance Sheet: |
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December 31, 2021 |
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Total current assets |
$ |
131,574 |
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$ |
- |
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$ |
131,574 |
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Total assets |
$ |
290,194 |
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$ |
- |
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$ |
290,194 |
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Total current liabilities |
$ |
24,920 |
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$ |
- |
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$ |
24,920 |
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Contingent earnout liability |
$ |
11,369 |
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$ |
(1,343 |
) |
$ |
10,026 |
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Total liabilities |
$ |
101,330 |
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$ |
(1,343 |
) |
$ |
99,987 |
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Additional paid-in capital |
$ |
418,575 |
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$ |
20,121 |
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$ |
438,696 |
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Accumulated deficit |
$ |
(230,458 |
) |
$ |
(18,778 |
) |
$ |
(249,236 |
) |
Total stockholders’ equity (deficit) |
$ |
188,864 |
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$ |
1,343 |
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$ |
190,207 |
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