v3.21.2

Restatement | 12 Months Ended
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Dec. 31, 2020
Restatement |
Restatement | Note 22 - Restatement During the preparation of our Annual Report on Form 20-F for the fiscal year of 2020, the Company has discovered an error in the accounting treatment of unvested restricted stock issued to our President and Chief Executive Officer and Chief Technology Officer in 2018, which resulted in misstatements in its previously issued consolidated financial statements for the years ended December 31, 2018 and 2019. The Company is amending and restating its 2019 financial statements to decrease other receivables and prepayments and additional paid-in-capital by $861 and $1,461 as of December 31, 2019 and 2018, respectively. The consolidated financial statements for the year ended December 31, 2019 and 2018 have been restated to reflect the correction of the misstatements. As a result, the Company has restated its consolidated financial statements in accordance with ASC 250, Accounting Changes and Error Corrections (the “restated consolidated financial statements”). The impact of these restatements on the consolidated financial statements as previously reported is summarized below:
|  | December 31, 2019 |  | December 31,
|  | (as previously |  | 2019 (as
|  | reported) |  | restated)
Other receivables and prepayments |  | $ | 6,765* |  | $ | 5,904
Total assets |  |  | 140,578 |  |  | 139,717
Additional paid-in capital |  |  | 117,804 |  |  | 116,943
Total SGOCO Group, Ltd. |  |  |  |  |  |
shareholders' equity |  |  | 120,430 |  |  | 119,569
Total shareholders' equity |  |  | 120,626 |  |  | 119,765
|  | December 31, 2019 |  | December 31,
|  | (as previously |  | 2019 (as
|  | reported) |  | restated)
Additional Paid-in Capital |  |  |  |  |  |
For the year ended December 31, 2018 - Shares issued for compensation plan |  | $ | 1,987 |  | $ | 526
Balance, December 31, 2018 |  |  | 116,648 |  |  | 115,187
For the year ended December 31, 2019 - Shares issued for compensation plan |  |  | — |  |  | 600
Balance, December 31, 2019 |  |  | 117,804 |  |  | 116,943
* Other receivables and prepayments of Boca amounting $37 was reclassified to discontinued operations (note 3).

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
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