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Document and Entity Information - shares
3 Months Ended
Dec. 31, 2016
Feb. 14, 2017
Document and Entity Information [Abstract]    
Entity Registrant Name American BriVision (Holding) Corp  
Entity Central Index Key 0001173313  
Trading Symbol mtoo  
Amendment Description

Explanatory Note

 

American BriVision (Holding) Corporation (together with its subsidiary, the “Company” sometimes referred to as “we”, “us” or “our”) is filing this Amendment No. 2 (this “Amendment No.2” or “Form 10-Q/A”) to its Quarterly Report on Form 10-Q Amendment No. 1 for the period ended December 31, 2016, originally filed on May 22, 2017, (the “Amendment No.1”) to reflect the restatement of its consolidated financial statements for the period ended December 31, 2016, and related disclosures described below. The restatement of the Amendment No.1 reflected in this Amendment No.2 corrects revenue, gross profit, net loss from operations, loss from continuing operations before income taxes, and net loss for the three months ended December 31, 2016, additional paid-in capital and accumulated deficit as of December 31, 2016, and the disclosures of related party transaction (see Note 6) and earnings per share (see Note 9) for the three months ended December 31, 2016. There is no impact or changes to the total assets, total liability and total stockholders’ equity as of December 31, 2016. For details of the changes, please refer to Note 2 of the consolidated financial statements.

 

No other sections were affected, but for the convenience of the reader, this report on Form 10-Q/A Amendment No. 2 restates in its entirety, as amended, our Original Form 10-Q and the Amendment No. 1.

 

This report on Form 10- Q/A Amendment No.2 is presented as of the filing date of the Original Form 10-Q and the Amendment No. 1 and does not reflect events occurring subsequent to the date of filing of the Original Form 10-Q and the Amendment No. 1.

 

Background of Restatements in Amendment No. 2

 

The additional paid-in capital and accumulated deficit as of December 31, 2016 was erroneously stated as $4,733,461 and $(11,463,738), respectively, on the Amendment No. 1. The Company restated the additional paid-in capital and accumulated deficit as of December 31, 2016 as $4,803,461 and $(11,533,738), respectively. The error as a result of related party under common control transactions caused $70,000 difference in both accounts. There is no impact on the ending balance of the total stockholders’ equity as of December 31, 2016. The Company also restated revenue, gross profit, net loss from operations, loss from continuing operations before income taxes, and net loss in its statements of operation for the three months ended December 31, 2016 for the same reason.

 

On the Notes 6 to Consolidated Financial Statements of the Amendment No. 1, the Company recorded revenues of $70,000 because of a consulting service provided to a Company’s shareholder, LionGene Corporation. The Company determined that the total amount of $70,000 should be recorded as additional paid-in capital since the Company and LionGene Corporation are related parties and under common control by a controlling beneficiary shareholder of YuanGene Corporation, and should be treated as the correction of error as of December 31, 2016.

 

On the Notes 9 to Consolidated Financial Statements of the Amendment No. 1, the net loss in the disclosure of the earning per share for the three months ended December 31, 2016 was erroneously reflected as $(140,337). The earning-per-share on the Amendment No. 1 for the three-months ended December 31, 2016 was $(0.00066567), which was shown as $(0.00). The Company corrected the net loss in the disclosure of the earning per share for the three-months ended December 31, 2016 to $(210,337) in order to align with the net loss and weight-average shares outstanding basic and diluted as reflected on the accompanying unaudited Condensed Consolidated Statements of Operations for the three months ended December 31, 2016. The corrected earning per share was $(0.000997701), which is shown as $(0.00) in the restated financial statements for the three months ended December 31, 2016. The overall impact in the earning-per-share for the three months ended December 31, 2016 is $0.00.

 

Items Amended by the Amendment No.2

 

This Amendment reflects the results of the work described above and includes the restatement of our consolidated financial statements for the period ended December 31, 2016. For the convenience of the reader, this Amendment sets forth Original Form 10-Q and the Amendment No. 1, as modified and superseded where necessary to reflect the restatement and other related adjustments, internal control matters, and as otherwise specifically indicated. Specifically, the following items included in the Original Form 10-Q and Amendment No. 1 are amended by this Amendment:

 

- Part I, Item 1, Financial Statements

 

- Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operation

 
Amendment Flag true  
Current Fiscal Year End Date --09-30  
Document Type 10-Q/A  
Document Period End Date Dec. 31, 2016  
Document Fiscal Year Focus 2017  
Document Fiscal Period Focus Q1  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   210,821,647