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v3.22.2.2

Restatement of Previously Issued Financial Statements (Tables) | 6 Months Ended
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Jun. 30, 2022
Restatement of Previously Issued Financial Statements [Abstract] |
Schedule of unaudited balance sheet |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Unaudited Balance Sheet As of June 30, 2022 |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 1,429,797 |  |  | $ | 222,379 |  |  | $ | 1,652,176 |
Total current liabilities |  | $ | 2,508,885 |  |  | $ | 222,379 |  |  | $ | 2,731,264 |
Total liabilities |  | $ | 13,208,992 |  |  | $ | 222,379 |  |  | $ | 13,431,371 |
Accumulated deficit |  | $ | (3,687,176 | ) |  | $ | (222,379 | ) |  | $ | (3,909,555 | )
Total stockholders’ equity |  | $ | 32,774,857 |  |  | $ | (222,379 | ) |  | $ | 32,552,478 |
Schedule of unaudited statement of operations |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Unaudited Statement of Operations During the Six-Month Period Ended June 30, 2022 |  |  |  |  |  |  |  |  |
Administrative expenses |  | $ | 991,129 |  |  | $ | 222,379 |  |  | $ | 1,213,508 |
Operating expenses |  | $ | 4,636,571 |  |  | $ | 222,379 |  |  | $ | 4,858,950 |
Net operating income (loss) |  | $ | 173,980 |  |  | $ | (222,379 | ) |  | $ | (48,399 | )
Income (loss) before income taxes |  | $ | 53,813 |  |  | $ | (222,379 | ) |  | $ | (168,566 | )
Net income (loss) |  | $ | 51,518 |  |  | $ | (222,379 | ) |  | $ | (170,861 | )
Basic net income (loss) per share |  | $ | 0.01 |  |  | $ | (0.03 | ) |  | $ | (0.02 | )
Diluted weighted average common shares outstanding |  |  | 7,781,403 |  |  |  | (38,053 | ) |  |  | 7,743,350 |
Diluted net income (loss) per share |  | $ | 0.01 |  |  | $ | (0.03 | ) |  | $ | (0.02 | )
Schedule of unaudited statement of stockholders’ equity |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Unaudited Statement of Stockholders’ Equity During the Three-Month Period Ended June 30, 2022 |  |  |  |  |  |  |  |  |
Accumulated Deficit – Balance, March 31, 2022 |  | $ | (3,003,028 | ) |  | $ | (222,379 | ) |  | $ | (3,225,407 | )
Accumulated Deficit – Balance, June 30, 2022 |  | $ | (3,687,176 | ) |  | $ | (222,379 | ) |  | $ | (3,909,555 | )
Total Stockholders’ Equity – Balance, March 31, 2022 |  | $ | 33,372,539 |  |  | $ | (222,379 | ) |  | $ | 33,150,160 |
Total Stockholders’ Equity – Balance, June 30, 2022 |  | $ | 32,774,857 |  |  | $ | (222,379 | ) |  | $ | 32,552,478 |
Unaudited Statement of Stockholders’ Equity During the Six-Month Period Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Accumulated Deficit – Net income (loss) |  | $ | 51,518 |  |  | $ | (222,379 | ) |  | $ | (170,861 | )
Accumulated Deficit – Balance, June 30, 2022 |  | $ | (3,687,176 | ) |  | $ | (222,379 | ) |  | $ | (3,909,555 | )
Total Stockholders’ Equity – Net income (loss) |  | $ | 51,518 |  |  | $ | (222,379 | ) |  | $ | (170,861 | )
Total Stockholders’ Equity – Balance, June 30, 2022 |  | $ | 32,774,857 |  |  | $ | (222,379 | ) |  | $ | 32,552,478 |
Schedule of unaudited statement of cash flows |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Unaudited Statement of Cash Flows During the Six-Month Period Ended June 30, 2022 |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 51,518 |  |  | $ | (222,379 | ) |  | $ | (170,861 | )
Accounts payable and accrued expenses |  | $ | (199,654 | ) |  | $ | 222,379 |  |  | $ | 22,725 |
Schedule of net income (loss) per common share |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Notes to Unaudited Financial Statements – (n) Net Income (Loss) Per Common Share During the Six-Month Period Ended June 30, 2022 |  |  |  |  |  |  |  |  |
Net income (loss) attributable to stockholders |  | $ | 51,518 |  |  | $ | (222,379 | ) |  | $ | (170,861 | )
Dilutive impact of share-based compensation awards |  |  | 38,053 |  |  |  | (38,053 | ) |  |  | — |
Weighted average common shares outstanding - Diluted |  |  | 7,781,403 |  |  |  | (38,053 | ) |  |  | 7,743,350 |
Net income (loss) per share: Basic |  | $ | 0.01 |  |  | $ | (0.03 | ) |  | $ | (0.02 | )
Net income (loss) per share: Diluted |  | $ | 0.01 |  |  | $ | (0.03 | ) |  | $ | (0.02 | )
Schedule of accounts payable and accrued expenses |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Notes to Unaudited Financial Statements – 9. Accounts Payable and Accrued Expenses As of June 30, 2022 |  |  |  |  |  |  |  |  |
Accrued payroll |  | $ | 441,644 |  |  | $ | 222,379 |  |  | $ | 664,023 |
Total |  | $ | 1,429,797 |  |  | $ | 222,379 |  |  | $ | 1,652,176 |
Schedule of segment information |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Notes to Unaudited Financial Statements – 17. Segment Information During the Six-Month Period Ended June 30, 2022 |  |  |  |  |  |  |  |  |
Other – Administrative expenses |  | $ | 991,129 |  |  | $ | 222,379 |  |  | $ | 1,213,508 |
Other – Operating activities |  | $ | 1,064,160 |  |  | $ | 222,379 |  |  | $ | 1,286,539 |
Other – Net operating loss |  | $ | (1,083,037 | ) |  | $ | (222,379 | ) |  | $ | (1,305,416 | )
Total – Administrative expenses |  | $ | 991,129 |  |  | $ | 222,379 |  |  | $ | 1,213,508 |
Total – Operating activities |  | $ | 4,636,571 |  |  | $ | 222,379 |  |  | $ | 4,858,950 |
Total – Net operating income (loss) |  | $ | 173,980 |  |  | $ | (222,379 | ) |  | $ | (48,399 | )
Schedule of liquidity and capital resources |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources As of June 30, 2022 |  |  |  |  |  |  |  |  |
Net working capital |  | $ | 14,820 |  |  | $ | (223 | ) |  | $ | 14,597 |
Increase - Amount |  | $ | 1,089 |  |  | $ | (222 | ) |  | $ | 867 |
Increase - % |  |  | 8 | % |  |  | (2 | )% |  |  | 6 | %
Stockholders’ equity |  | $ | 32,775 |  |  | $ | (223 | ) |  | $ | 32,552 |
Increase (Decrease) – Amount |  | $ | 198 |  |  | $ | (222 | ) |  | $ | (24 | )
Increase (Decrease) – % |  |  | 1 | % |  |  | (1 | )% |  |  | 0 | %

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