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Revisions of Previously Issued Financial Statements | 3 Months Ended | 12 Months Ended
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Sep. 30, 2020 | Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |  |
Revisions of Previously Issued Financial Statements | Note 9 – Revisions of Previously Issued Financial Statements During the course of preparing the annual report on Form 10-K for the year ended June 30, 2020, we determined that costs incurred during the application development phase of certain new software applications and enhancements were not properly capitalized, which resulted in the overstatement of operating expenses and net loss, and an understatement of amortization expense for each of the quarters during the year ended June 30, 2020. We assessed the materiality of these errors on prior periods' financial statements and concluded that the errors were not material to any prior annual or interim periods, but the cumulative adjustments necessary to correct the errors would be material if we recorded the corrections the period in which the errors were identified. In accordance with GAAP, we are revising the prior periods' financial statements when they are next issued. See Item. 4 of Part I, Controls, and Procedures. The tables below disclose the effects on the financial statements included in this Quarterly Report on Form 10-Q and the financial statements yet to be reissued:
|  | Three Months Ended September 30, 2019 |
|  | As reported |  |  | Adjustment |  |  | As revised |
Condensed Consolidated Statements of Operations |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 1,397,361 |  |  | $ | (17,660 | ) |  | $ | 1,379,701 |
Gross profit |  |  | 1,795,529 |  |  |  | 17,660 |  |  |  | 1,813,189 |
Product development |  |  | 1,130,880 |  |  |  | (519,978 | ) |  |  | 610,902 |
Selling, general and administrative |  |  | 3,583,815 |  |  |  | 17,899 |  |  |  | 3,601,714 |
Net loss |  |  | (2,846,071 | ) |  |  | 519,739 |  |  |  | (2,326,332 | )
Net loss per share |  |  | (0.26 | ) |  |  | — |  |  |  | (0.21 | )
|  | Three Months Ended December 31, 2019 |
|  | As reported |  |  | Adjustment |  |  | As revised |
Condensed Consolidated Statements of Operations |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 1,638,840 |  |  | $ | (23,601 | ) |  | $ | 1,615,239 |
Gross profit |  |  | 1,667,363 |  |  |  | 23,601 |  |  |  | 1,690,964 |
Product development |  |  | 1,261,509 |  |  |  | (638,008 | ) |  |  | 623,501 |
Selling, general and administrative |  |  | 4,796,404 |  |  |  | 86,768 |  |  |  | 4,883,172 |
Net loss |  |  | (4,338,536 | ) |  |  | 574,841 |  |  |  | (3,763,695 | )
Net loss per share |  |  | (0.40 | ) |  |  | — |  |  |  | (0.34 | )
|  | Six Months Ended December 31, 2019 |
|  | As reported |  |  | Adjustment |  |  | As revised |
Condensed Consolidated Statements of Operations |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 3,036,201 |  |  | $ | (41,261 | ) |  | $ | 2,994,940 |
Gross profit |  |  | 3,462,892 |  |  |  | 41,261 |  |  |  | 3,504,153 |
Product development |  |  | 2,392,389 |  |  |  | (1,157,986 | ) |  |  | 1,234,403 |
Selling, general and administrative |  |  | 8,380,219 |  |  |  | 104,667 |  |  |  | 8,484,886 |
Net loss |  |  | (7,184,607 | ) |  |  | 1,094,580 |  |  |  | (6,090,027 | )
Net loss per share |  |  | (0.66 | ) |  |  | — |  |  |  | (0.56 | )
|  | Three Months Ended March 31, 2020 |
|  | As reported |  |  | Adjustment |  |  | As revised |
Condensed Consolidated Statement of Operations |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 1,420,909 |  |  | $ | (24,690 | ) |  | $ | 1,396,219 |
Gross profit |  |  | 1,649,637 |  |  |  | 24,690 |  |  |  | 1,674,327 |
Product development |  |  | 1,632,353 |  |  |  | (757,566 | ) |  |  | 874,787 |
Selling, general and administrative |  |  | 5,500,837 |  |  |  | 177,405 |  |  |  | 5,678,242 |
Net loss |  |  | (5,348,980 | ) |  |  | 604,851 |  |  |  | (4,744,129 | )
Net loss per share |  |  | (0.43 | ) |  |  | — |  |  |  | (0.38 | )
|  | Nine Months Ended March 31, 2020 |
|  | As reported |  |  | Adjustment |  |  | As revised |
Condensed Consolidated Statements of Operations |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 4,457,110 |  |  | $ | (65,951 | ) |  | $ | 4,391,159 |
Gross profit |  |  | 5,112,529 |  |  |  | 65,951 |  |  |  | 5,178,480 |
Product development |  |  | 4,024,742 |  |  |  | (1,915,552 | ) |  |  | 2,109,190 |
Selling, general and administrative |  |  | 13,881,056 |  |  |  | 282,072 |  |  |  | 14,163,128 |
Net loss |  |  | (12,533,587 | ) |  |  | 1,699,431 |  |  |  | (10,834,156 | )
Net loss per share |  |  | (1.11 | ) |  |  | — |  |  |  | (0.96 | )
| Note 14 – Revisions of Financial Statements for the Fiscal Quarters during Fiscal Year 2020 During the course of preparing the annual report on Form 10-K for the year ended June 30, 2020, we determined that costs incurred during the application development phase of certain new software applications and enhancements were not properly capitalized, which resulted in the overstatement of operating expenses and net loss, and an understatement of amortization expense for each of the quarters during the year ended June 30, 2020. We assessed the materiality of these errors on prior periods' financial statements and concluded that the errors were not material to any prior annual or interim periods, but the cumulative adjustments necessary to correct the errors would be material if we recorded the corrections the period in which the errors were identified. In accordance with GAAP, we are revising the prior periods' financial statements when they are next issued. See Item. 4 of Part I, Controls, and Procedures.
|  | Three Months Ended September 30, 2019 |
|  | As reported |  |  | Adjustment |  |  | As revised |
Condensed Consolidated Statements of Operations |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 1,397,361 |  |  | $ | (17,660 | ) |  | $ | 1,379,701 |
Gross profit |  |  | 1,795,529 |  |  |  | 17,660 |  |  |  | 1,813,189 |
Product development |  |  | 1,130,880 |  |  |  | (519,978 | ) |  |  | 610,902 |
Selling, general and administrative |  |  | 3,583,815 |  |  |  | 17,899 |  |  |  | 3,601,714 |
Net loss |  |  | (2,846,071 | ) |  |  | 519,739 |  |  |  | (2,326,332 | )
Net loss per share |  |  | (0.26 | ) |  |  |  |  |  |  | (0.21 | )
|  | Three Months Ended December 31, 2019 |
|  | As reported |  |  | Adjustment |  |  | As revised |
Condensed Consolidated Statements of Operations |  |  |  |  |  |  |  |  |
Cost of revenue |  |  | 1,638,840 |  |  |  | (23,601 | ) |  |  | 1,615,239 |
Gross profit |  |  | 1,667,363 |  |  |  | 23,601 |  |  |  | 1,690,964 |
Product development |  |  | 1,261,509 |  |  |  | (638,008 | ) |  |  | 623,501 |
Selling, general and administrative |  |  | 4,796,404 |  |  |  | 86,768 |  |  |  | 4,883,172 |
Net loss |  |  | (4,338,536 | ) |  |  | 574,841 |  |  |  | (3,763,695 | )
Net loss per share |  |  | (0.40 | ) |  |  |  |  |  |  | (0.34 | )
|  | Six Months Ended December 31, 2019 |
|  | As reported |  | Adjustment |  | As revised |
Condensed Consolidated Statements of Operations |  |  |  |  |  |  |  |  |  |
Cost of revenue |  |  | 3,036,201 |  |  | (41,261) |  |  | 2,994,940 |
Gross profit |  |  | 3,462,892 |  |  | 41,261 |  |  | 3,504,153 |
Product development |  |  | 2,392,389 |  |  | (1,157,986) |  |  | 1,234,403 |
Selling, general and administrative |  |  | 8,380,219 |  |  | 104,667 |  |  | 8,484,886 |
Net loss |  |  | (7,184,607 | ) |  | 1,094,580 |  |  | (6,090,027 | )
Net loss per share |  |  | (0.66 | ) |  |  |  |  | (0.56 | )
|  | Three Months Ended March 31, 2020 |
|  | As reported |  |  | Adjustment |  |  | As revised |
Condensed Consolidated Statement of Operations |  |  |  |  |  |  |  |  |
Cost of revenue |  |  | 1,420,909 |  |  |  | (24,690 | ) |  |  | 1,396,219 |
Gross profit |  |  | 1,649,637 |  |  |  | 24,690 |  |  |  | 1,674,327 |
Product development |  |  | 1,632,353 |  |  |  | (757,566 | ) |  |  | 874,787 |
Selling, general and administrative |  |  | 5,500,837 |  |  |  | 177,405 |  |  |  | 5,678,242 |
Net loss |  |  | (5,348,980 | ) |  |  | 604,851 |  |  |  | (4,744,129 | )
Net loss per share |  |  | (0.43 | ) |  |  |  |  |  |  | (0.38 | )
|  | Nine Months Ended March 31, 2020 |
|  | As reported |  |  | Adjustment |  |  | As revised |
Condensed Consolidated Statements of Operations |  |  |  |  |  |  |  |  |
Cost of revenue |  |  | 4,457,110 |  |  |  | (65,951 | ) |  |  | 4,391,159 |
Gross profit |  |  | 5,112,529 |  |  |  | 65,951 |  |  |  | 5,178,480 |
Product development |  |  | 4,024,742 |  |  |  | (1,915,552 | ) |  |  | 2,109,190 |
Selling, general and administrative |  |  | 13,881,056 |  |  |  | 282,072 |  |  |  | 14,163,128 |
Net loss |  |  | (12,533,587 | ) |  |  | 1,699,431 |  |  |  | (10,834,156 | )
Net loss per share |  |  | (1.11 | ) |  |  |  |  |  |  | (0.96 | )

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