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Restatement of Prior Financial Information
 3 Months Ended
Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]  
Restatement of Prior Financial Information

Note 2. Restatement of Prior Financial Information

 

This Company’s previously filed unaudited statement of operations and cash flow statement have been restated to correct errors in calculating depreciation. From a quantitative and qualitative perspective, the Company determined that correcting the previously filed financial statements would not require amendment to its previously filed reports on Form 10-Q and 10-K. The effect of the correction of previously issued financial statements is summarized below:

 

             
   Three-months ended March 31, 2023 
   As Previously         
   Reported   Adjustment   Restated 
Consolidated Statement of Operations            
Depreciation and amortization  $104,000   $(21,000)  $83,000 
Total operating expenses  $1,765,000   $(21,000)  $1,744,000 
Net loss  $(910,000)  $21,000   $(889,000)
                
Consolidated Statement of Cash Flows               
Net loss  $(910,000)  $21,000   $(889,000)
Depreciation and amortization  $107,000   $(21,000)  $86,000 
Net cash used in operating activities  $(1,224,000)  $-   $(1,224,000)