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Revision of first and second quarter 2024 unaudited results (Tables) | 9 Months Ended
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Sep. 30, 2024
Revision of first and second quarter 2024 unaudited results |
Schedule of previously reported condensed consolidated financial statements |
|  | Three Months Ended March 31, 2024 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Cost of goods sold (1) |  | $ | 6,139,000 |  |  | $ | 150,000 |  |  | $ | 6,289,000 |
Loss from continuing operations before income taxes |  |  | (1,683,000 | ) |  |  | 150,000 |  |  |  | (1,833,000 | )
Net loss from continuing operations |  |  | (1,336,000 | ) |  |  | 150,000 |  |  |  | (1,486,000 | )
Net (loss) income including noncontrolling interest |  |  | (1,264,000 | ) |  |  | 150,000 |  |  |  | (1,414,000 | )
Net (loss) income attributable to Lendway, Inc. |  |  | (1,041,000 | ) |  |  | 122,000 |  |  |  | (1,163,000 | )
Net (loss) income attributable to noncontrolling interest |  |  | (223,000 | ) |  |  | 28,000 |  |  |  | (251,000 | )
Comprehensive (loss) income attributable to Lendway, Inc. |  |  | (1,038,000 | ) |  |  | 122,000 |  |  |  | (1,160,000 | )
Net (loss) income per basic and diluted share attributable to Lendway, Inc. |  | $ | (0.73 | ) |  | $ | 0.07 |  |  | $ | (0.80 | )
Note receivable |  | $ | 700,000 |  |  | $ | (150,000 | ) |  | $ | 550,000 |
|  | Three Months Ended June 30, 2024 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Revenue (2) |  | $ | 16,780,000 |  |  | $ | 140,000 |  |  | $ | 16,920,000 |
Cost of goods sold (3) |  |  | 12,803,000 |  |  |  | 211,000 |  |  |  | 13,014,000 |
Selling, general and administrative expenses (4) |  |  | 4,095,000 |  |  |  | (354,000 | ) |  |  | 3,741,000 |
Loss from continuing operations before income taxes |  |  | (1,082,000 | ) |  |  | (283,000 | ) |  |  | (799,000 | )
Net loss from continuing operations |  |  | (881,000 | ) |  |  | (283,000 | ) |  |  | (598,000 | )
Net (loss) income including noncontrolling interest |  |  | (817,000 | ) |  |  | (283,000 | ) |  |  | (534,000 | )
Net (loss) income attributable to Lendway, Inc. |  |  | (745,000 | ) |  |  | (230,000 | ) |  |  | (515,000 | )
Net (loss) income attributable to noncontrolling interest |  |  | (72,000 | ) |  |  | (53,000 | ) |  |  | (19,000 | )
Comprehensive (loss) income including noncontrolling interest |  |  | (702,000 | ) |  |  | (283,000 | ) |  |  | (419,000 | )
Comprehensive (loss) income attributable to Lendway, Inc. |  |  | (710,000 | ) |  |  | (230,000 | ) |  |  | (480,000 | )
Net (loss) income per basic and diluted share attributable to Lendway, Inc. |  | $ | (0.42 | ) |  | $ | (0.13 | ) |  | $ | (0.29 | )
Accounts receivable, net |  | $ | 3,306,000 |  |  | $ | 140,000 |  |  | $ | 3,446,000 |
Inventories, net |  |  | 6,973,000 |  |  |  | (211,000 | ) |  |  | 6,762,000 |
Accrued expenses and other current liabilities |  |  | 2,092,000 |  |  |  | (354,000 | ) |  |  | 1,738,000 |
Note receivable (5) |  |  | 250,000 |  |  |  | (150,000 | ) |  |  | 100,000 |
|  | Six Months Ended June 30, 2024 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Revenue |  | $ | 24,813,000 |  |  | $ | 140,000 |  |  | $ | 24,953,000 |
Cost of goods sold (3) |  |  | 18,942,000 |  |  |  | 361,000 |  |  |  | 19,303,000 |
Selling, general and administrative expenses (4) |  |  | 7,483,000 |  |  |  | (354,000 | ) |  |  | 7,129,000 |
Loss from continuing operations before income taxes |  |  | (2,765,000 | ) |  |  | (133,000 | ) |  |  | (2,632,000 | )
Net loss from continuing operations |  |  | (2,217,000 | ) |  |  | (133,000 | ) |  |  | (2,084,000 | )
Net (loss) income including noncontrolling interest |  |  | (2,081,000 | ) |  |  | (133,000 | ) |  |  | (1,948,000 | )
Net (loss) income attributable to Lendway, Inc. |  |  | (1,786,000 | ) |  |  | (108,000 | ) |  |  | (1,678,000 | )
Net (loss) income attributable to noncontrolling interest |  |  | (295,000 | ) |  |  | (25,000 | ) |  |  | (270,000 | )
Comprehensive (loss) income including noncontrolling interest |  |  | (1,740,000 | ) |  |  | (133,000 | ) |  |  | (1,607,000 | )
Comprehensive (loss) income attributable to Lendway, Inc. |  |  | (1,749,000 | ) |  |  | (108,000 | ) |  |  | (1,641,000 | )
Net (loss) income per basic and diluted share attributable to Lendway, Inc. |  | $ | (1.01 | ) |  | $ | (0.06 | ) |  | $ | (0.95 | )

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