XML 31 R20.htm IDEA: XBRL DOCUMENT v3.21.1

Restatement of Financial Statements (Tables)

9 Months Ended

Sep. 30, 2020

Restatement Of Financial Statements [Abstract]

Schedule of balance sheet

		September 30,								December 31,
		2020								2019
ASSETS		(As Filed)				Adjustments				(As Restated)
Total assets		$	10,474,016			$	-			$	10,474,016
LIABILITIES AND STOCKHOLDERS’ EQUITY
Total liabilities			5,564,034				-				5,564,034
Stockholders’ equity:
Series A Convertible Preferred stock, $0.001 par value; 900,000 shares authorized; 89,872 and 578,567 shares issued and outstanding, respectively			90				-				90
Common stock, $0.001 par value; 45,000,000 shares authorized; 9,845,600 and 7,390,261 shares issued and outstanding, respectively			9,846				-				9,846
Additional paid-in capital			26,667,488	(1)			(1,338,303	)			25,329,185
Accumulated deficit			(21,779,442	)(1)			1,338,303				(20,441,139	)
Total stockholders’ equity			4,897,982				-				4,897,982
Total liabilities and stockholders’ equity		$	10,462,016			$	-			$	10,462,016

Schedule of statement of operations

		Three months ended September 30, 2020								Three months ended September 30, 2020
		(As Filed)				Adjustments				(As Restated)
Revenue		$	1,171,399			$	-			$	1,171,399
Operating expenses:
Cost of revenues			956,203				-				956,203
General and administrative			3,573,946	(1)			(1,338,303	)			2,235,643
Total operating expenses			4,530,149				(1,338,303	)			3,191,846
Loss from operations			(3,358,750	)			1,338,303				(2,020,447	)
Other income (expenses):
Interest expense			-				-				-
Loss on settlemet of sccounts payable			(726,766	)			-				(726,766	)
Other income			-				-				-
Total other income (expense)			(726,766	)			-				(726,766	)
Net loss before income taxes			(4,085,516	)			1,338,303				(2,747,213	)
Provision for (benefit from) income taxes			-				-				-
Net loss		$	(4,085,516	)						$	(2,747,213	)
Net loss per share, basic and diluted		$	(0.42	)						$	(0.29	)
Weighted average common shares outstanding, basic and diluted			9,616,717								9,616,717

		Nine months ended September 30, 2020								Nine months ended September 30, 2020
		(As Filed)				Adjustments				(As Restated)
Revenue		$	3,739,798			$	-			$	3,739,798
Operating expenses:
Cost of revenues			2,739,737				-				2,739,737
General and administrative			8,372,491	(1)			(1,338,303	)			7,034,188
Total operating expenses			11,112,228				(1,338,303	)			9,773,925
Loss from operations			(7,372,430	)			1,338,303				(6,034,127	)
Other income (expenses):
Interest expense			-				-				-
Loss on settlemet of sccounts payable			(1,612,539	)			-				(1,612,539	)
Other income			-				-				-
Total other income (expense)			(1,612,539	)			-				(1,612,539	)
Net loss before income taxes			(8,984,969	)			1,338,303				(7,646,666	)
Provision for (benefit from) income taxes			-				-				-
Net loss		$	(8,984,969	)						$	(7,646,666	)
Net loss per share, basic and diluted		$	(1.03	)						$	(0.87	)
Weighted average common shares outstanding, basic and diluted			8,754,824								8,754,824

Schedule of statement of stockholder’s deficit

		Preferred Stock								Common stock								Additional paid-in				Accumulated
As Filed		Shares				$				Shares				$				capital				deficit				Total
Balances, June 30, 2020			94,872			$	95				9,490,582			$	9,491			$	23,863,806			$	(17,693,926	)		$	6,179,466
																											-
Conversion of Series A Convertible Preferred Stock into common stock			(5,000	)			(5	)			13,158				13				(8	)			-				-
Settlement of Accounts Payable			-				-				157,000				157				847,043				-				847,200
Shares issued in cashless exercise of warrants			-				-				68,715				69				(69	)			-				-
Shares issued in cashless exercise of options			-				-				28,890				29				(29	)			-				-
Shares issued to current and former employees and directors			-				-				87,255				87				142,138				-				142,225
Stock based compensation			-				-				-				-				488,304				-				488,304
Net Loss			-				-				-				-				-				(4,085,516	)			(4,085,516	)
Ending balance, September, 2020			89,872			$	90				9,845,600			$	9,846			$	25,341,185			$	(21,779,442	)		$	3,571,679

		Preferred Stock								Common stock								Additional paid-in				Accumulated
As Restated		Shares				$				Shares				$				capital				deficit				Total
Balances, June 30, 2020			94,872			$	95				9,490,582			$	9,491			$	23,863,806			$	(17,693,926	)		$	6,179,466
Conversion of Series A Convertible Preferred Stock into common stock			(5,000	)			(5	)			13,158				13				(8	)			-				-
Settlement of Accounts Payable			-				-				157,000				157				847,043				-				847,200
Shares issued in cashless exercise of warrants			-				-				68,715				69				(69	)			-				-
Shares issued in cashless exercise of options			-				-				28,890				29				(29	)			-				-
Shares issued to current and former employees and directors			-				-				87,255				87				142,138				-				142,225
Stock based compensation			-				-				-				-				488,304				-				488,304
Net Loss			-				-				-				-				-				(2,747,213	)			(2,747,213	)
Ending balance, September, 2020			89,872			$	90				9,845,600			$	9,846			$	25,341,185			$	(20,441,139	)		$	4,909,982

		Preferred Stock								Common stock								Additional paid-in				Accumulated
As Filed		Shares				$				Shares				$				capital				deficit				Total
Balances,December 31, 2019			578,567			$	579				7,390,261			$	7,391			$	19,712,115			$	(12,794,473	)		$	6,925,612
Conversion of Series A Convertible Preferred Stock into common stock			(488,695	)			(489	)			1,286,042				1,286				(797	)			-				-
Settlement of Accounts Payable											441,567				442				2,604,948				-				2,605,390
Shares issued in cashless exercise of warrants			-				-				415,904				416				(416	)			-				-
Shares issued in cashless exercise of options			-				-				86,424				86				(86	)			-				-
Warrants exercised for cash			-				-				7,000				7				38,563				-				38,570
Shares issued to current and former employees and directors			-				-				218,402				218				142,007				-				142,225
Stock based compensation			-				-				-				-				2,844,851				-				2,844,851
Net Loss			-				-				-				-				-				(8,984,969	)			(8,984,969	)
Ending balance, September 30, 2020			89,872			$	90				9,845,600			$	9,846			$	25,341,185			$	(21,779,442	)		$	3,571,679

		Preferred Stock								Common stock								Additional paid-in				Accumulated
As Restated		Shares				$				Shares				$				capital				deficit				Total
Balances,December 31, 2019			578,567			$	579				7,390,261			$	7,391			$	19,712,115			$	(12,794,473	)		$	6,925,612
Conversion of Series A Convertible Preferred Stock into common stock			(488,695	)			(489	)			1,286,042				1,286				(797	)			-				-
Settlement of Accounts Payable											441,567				442				2,604,948				-				2,605,390
Shares issued in cashless exercise of warrants			-				-				415,904				416				(416	)			-				-
Shares issued in cashless exercise of options			-				-				86,424				86				(86	)			-				-
Warrants exercised for cash			-				-				7,000				7				38,563				-				38,570
Shares issued to current and former employees and directors			-				-				218,402				218				142,007				-				142,225
Stock based compensation			-				-				-				-				2,844,851				-				2,844,851
Net Loss			-				-				-				-				-				(7,646,666	)			(7,646,666	)
Ending balance, September 30, 2020			89,872			$	90				9,845,600			$	9,846			$	25,341,185			$	(20,441,139	)		$	4,909,982

Schedule of statement of cash flows

		Nine months ended September 30, 2020												Nine months ended September 30, 2020
		(As Filed)								Adjustments				(As Restated)
Cash flows from operating activities:
Net loss		$	(8,984,969	)			(1	)		$	1,338,303			$	(7,646,666	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation			29,275								-				29,275
Amortization of intangibles			28,457								-				28,457
Stock-based compensation			4,183,154				(1	)			(1,338,303	)			2,844,851
Loss on settlement of accounts payable			2,747,615								-				2,747,615
Bad debt expense			189,987								-				189,987
Changes in operating assets and liabilities			662,070								-				662,070
Net cash used in operating activities			(1,144,411	)							-				(1,144,411	)
Cash flows from investing activities:
Net cash provided by investing activities			(1,229	)							-				(1,229	)
Cash flows from financing activities:
Net cash provided by financing activities			847,542								-				847,542
Net (decrease) increase in cash			(298,098	)							-				(298,098	)
Cash, beginning of period			487,953								-				487,953
Cash, end of period		$	189,855							$	-			$	189,855

X

- Definition

Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

+ Details

Name:	srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix:	srt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

+ Details

Name:	srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix:	srt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

+ Details

Name:	srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix:	srt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644

+ Details

Name:	us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	worx_RestatementOfFinancialStatementsAbstract
Namespace Prefix:	worx_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration