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Restatement of Prior Financial Information (Tables)

9 Months Ended

Sep. 30, 2023

Restatement of Prior Financial Information

Schedule of error corrections affecting the unaudited consolidated financial statements

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​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	(Unaudited)	​	​	​
​		March 31, 2023			​	​	​	March 31, 2023
CONSOLIDATED BALANCE SHEETS	​	As previously reported		​	Adjustments		​	As Restated
​	​	​	​	​	​	​	​	​	​
ASSETS	​	​	​	​	​	​	​	​	​
Non-current deposits	​	$	2,916	​	$	549	​	$	3,465
Total assets	​	$	22,060	​	$	549	​	$	22,609
LIABILITIES AND STOCKHOLDERS’ EQUITY	​		​	​			​	​	​
Accrued and other current liabilities	​	$	4,829	​	$	119	​	$	4,948
Total current liabilities	​		7,338	​		119	​	​	7,457
Total liabilities	​		7,418	​		119	​	​	7,537
Accumulated deficit	​		(411,961)	​		430	​	​	(411,531)
Total stockholders’ equity	​	$	10,148	​	$	430	​	$	10,578
Total liabilities and stockholders’ equity	​	$	22,060	​	$	549	​	$	22,609

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​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	(Unaudited)	​	​	​
​	​	Three Months Ended March 31,
​		2023			​	​	​	2023
CONSOLIDATED STATEMENTS OF INCOME	​	As previously reported		​	Adjustments		​	As Restated
​	​	​	​	​	​	​	​	​	​
Net loss applicable to common shareholders	​	$	(5,854)	​	$	—	​	$	(5,854)
Basic and diluted earnings per common share:	​	​	​	​	​	​	​	​	​
Net Loss per share - basic and diluted (common shareholders)	​	$	(0.47)	​	$	—	​	$	(0.47)
Net Loss per share - basic and diluted (redeemable common shareholders)	​	$	—	​	$	(0.47)	​	$	(0.47)

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	(Unaudited)	​	​	​
​		March 31, 2023			​	​	​	March 31, 2023
CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY	​	As previously reported		​	Adjustments		​	As Restated
​	​	​	​	​	​	​	​	​	​
Accumulated Deficit (Balances at December 31, 2022)	​	$	(406,157)	​	$	430	​	$	(405,727)
Accumulated Deficit (Balances at March 31, 2023)	​	$	(411,961)	​	$	430	​	$	(411,531)
Total Stockholders' Equity (Balances at March 31, 2023)	​	$	10,148	​	$	430	​	$	10,578

​

​	​	​	​	​	​	​	​	​	​
​		​		​	(Unaudited)		​	​
​		June 30, 2023			​	​	​	June 30, 2023
​	​	As previously		​	​	​	​	​	​
CONSOLIDATED BALANCE SHEETS	​	reported		​	Adjustments		​	As Restated
​	​	​	​	​	​	​	​	​	​
ASSETS	​	​	​	​	​	​	​	​	​
Non-current deposits	​	$	1,000	​	$	549	​	$	1,549
Total assets	​	$	16,442	​	$	549	​	$	16,991
LIABILITIES AND STOCKHOLDERS’ EQUITY	​		​	​			​		​
Accrued and other current liabilities	​	$	4,577	​	$	119	​	$	4,696
Total current liabilities	​		6,746	​		119	​		6,865
Total liabilities	​		6,812	​		119	​		6,931
​	​	​	​	​	​	​	​	​	​
Temporary equity	​	$	4,494	​	$	(1,105)	​	$	3,389
Common Stock	​	​	9	​	​	1	​	​	10
Additional Paid-In Capital	​	​	423,633	​		1,104	​		424,737
Accumulated deficit	​		(417,409)	​		430	​		(416,979)
​	​	​	​	​	​	​	​	​	​
Total stockholders’ equity	​		5,136	​		1,535	​		6,671
Total liabilities and stockholders’ equity	​	$	16,442	​	$	549	​	$	16,991

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(Unaudited)

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Three Months Ended June 30,

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Six Months Ended June 30,

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2023

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2023

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2023

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2023

CONSOLIDATED STATEMENTS OF INCOME

​

As previously reported

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Adjustments

​

As Restated

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As previously reported

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Adjustments

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As Restated

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Net loss applicable to common shareholders

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$

(5,498)

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$

—

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$

(5,498)

​

$

(11,353)

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$

—

​

$

(11,353)

Basic and diluted earnings per common share:

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​

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Net Loss per share - basic and diluted (common shareholders)

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$

(0.44)

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$

—

​

$

(0.44)

​

$

(0.91)

​

$

—

​

$

(0.90)

Net Loss per share - basic and diluted (redeemable common shareholders)

​

$

—

​

$

(0.44)

​

$

(0.44)

​

$

—

​

$

(0.90)

​

$

(0.90)

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​	​	​	​	​	​	​	​	​	​
​		​		​	(Unaudited)		​	​
​		June 30, 2023			​	​	​	June 30, 2023
CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY	​	As previously reported		​	Adjustments		​	As Restated
Accumulated Deficit (Balances at December 31, 2022)	​	$	(406,157)	​	$	430	​	$	(405,727)
Accumulated Deficit (Balances at March 31, 2023)	​	$	(411,961)	​	$	430	​	$	(411,531)
Total Stockholders' Equity (Balances at March 31, 2023)	​	$	10,148	​	$	430	​	$	10,578
Common Stock - Issue of common stock on At Market, net of expenses	​	$	—	​	$	1	​	$	1
Common Stock (Balances at June 30, 2023)	​	$	9	​	$	1	​	$	10
Additional Paid-In Capital - Issue of common stock on At Market, net of expenses	​	$	—	​	$	1,104	​	$	1,104
Additional Paid-In Capital (Balances at June 30, 2023)	​	$	423,633	​	$	1,104	​	$	424,737
Accumulated Deficit (Balances at June 30, 2023)	​	$	(417,409)	​	$	430	​	$	(416,979)
Total Stockholders' Equity (Balances at June 30, 2023)	​	$	5,136	​	$	1,535	​	$	6,671
​	​	​	​	​	​	​	​	​	​
Common Stock No. Shares (Reclassification of redeemable common stock)	​	​	—	​	​	798,200	​	​	798,200
Common Stock No. Shares (Balance at June 30, 2023)	​	​	9,422,089	​	​	798,200	​	​	10,220,289

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Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

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