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UNAUDITED QUARTERLY FINANCIAL DATA | 12 Months Ended
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Dec. 31, 2022
UNAUDITED QUARTERLY FINANCIAL DATA |
UNAUDITED QUARTERLY FINANCIAL DATA | NOTE 18 – UNAUDITED QUARTERLY FINANCIAL DATA As discussed in Note 2, the Company determined that its unaudited interim consolidated financial statements for the year-to-date period ended March 31, 2022, June 30, 2022 and September 30, 2022 were materially misstated and should be restated . The table below sets forth the restatements of the impacted line items of each respective unaudited interim consolidated statement of cash flows. The error had no impact on the Company’s unaudited interim consolidated balance sheets, unaudited interim consolidated statements of operations and unaudited interim consolidated statements of changes in stockholders’ equity for these periods. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended March 31, 2022 (unaudited)
​ | ​ | ​ | ​ | Restatement | ​ | ​ | ​
​ | As Reported | ​ | Adjustment | ​ | As Restated
CASH FLOWS FROM OPERATING ACTIVITIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Decrease in amounts due from related parties | $ | 647 | ​ | $ | 168 | ​ | $ | 815
Decrease in accounts payable | $ | (6,066) | ​ | $ | 2,088 | ​ | $ | (3,978)
Decrease in accrued construction liabilities | $ | (3,870) | ​ | $ | 3,870 | ​ | $ | -
Increase in other accrued liabilities | $ | 4,155 | ​ | $ | 601 | ​ | $ | 4,756
Increase in other amounts due to related parties | $ | 1,246 | ​ | $ | (470) | ​ | $ | 776
Net cash used in operating activities from continuing operations | $ | (21,459) | ​ | $ | 6,257 | ​ | $ | (15,202)
Net cash used in operating activities | $ | (21,509) | ​ | $ | 6,257 | ​ | $ | (15,252)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH FLOWS FROM INVESTING ACTIVITIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Purchase of and deposits on plant and equipment | $ | (21,488) | ​ | $ | (6,257) | ​ | $ | (27,745)
Net cash used in investing activities | $ | (40,560) | ​ | $ | (6,257) | ​ | $ | (46,817)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Six Months Ended June 30, 2022 (unaudited)
​ | ​ | ​ | ​ | Restatement | ​ | ​ | ​
​ | As Reported | ​ | Adjustment | ​ | As Restated
CASH FLOWS FROM OPERATING ACTIVITIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Decrease in amounts due from related parties | $ | 647 | ​ | $ | 168 | ​ | $ | 815
Decrease in accounts payable | $ | (2,486) | ​ | $ | 2,088 | ​ | $ | (398)
Decrease in accrued construction liabilities | $ | (3,892) | ​ | $ | 3,892 | ​ | $ | -
Increase in other accrued liabilities | $ | 1,162 | ​ | $ | 714 | ​ | $ | 1,876
Increase in other amounts due to related parties | $ | 982 | ​ | $ | (631) | ​ | $ | 351
Net cash used in operating activities from continuing operations | $ | (29,721) | ​ | $ | 6,231 | ​ | $ | (23,490)
Net cash used in operating activities | $ | (29,766) | ​ | $ | 6,231 | ​ | $ | (23,535)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH FLOWS FROM INVESTING ACTIVITIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Purchase of and deposits on plant and equipment | $ | (39,238) | ​ | $ | (6,231) | ​ | $ | (45,469)
Net cash used in investing activities | $ | (75,687) | ​ | $ | (6,231) | ​ | $ | (81,918)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Nine Months Ended September 30, 2022 (unaudited)
​ | ​ | ​ | ​ | Restatement | ​ | ​ | ​
​ | As Reported | ​ | Adjustment | ​ | As Restated
CASH FLOWS FROM OPERATING ACTIVITIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Decrease in amounts due from related parties | $ | 647 | ​ | $ | 168 | ​ | $ | 815
Increase in accounts payable | $ | 3,575 | ​ | $ | 2,088 | ​ | $ | 5,663
Decrease in accrued construction liabilities | $ | (3,892) | ​ | $ | 3,892 | ​ | $ | -
Increase in other accrued liabilities | $ | 4,522 | ​ | $ | (1,985) | ​ | $ | 2,537
Increase in other amounts due to related parties | $ | 2,417 | ​ | $ | (765) | ​ | $ | 1,652
Net cash used in operating activities from continuing operations | $ | (31,704) | ​ | $ | 3,398 | ​ | $ | (28,306)
Net cash used in operating activities | $ | (33,007) | ​ | $ | 3,398 | ​ | $ | (29,609)
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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=124502072&loc=SL124452896-108306 + Details
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