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RESTATEMENT | 9 Months Ended
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Jun. 30, 2023
RESTATEMENT |
RESTATEMENT | NOTE 21 - RESTATEMENT Prior to the initial issuance of the Company's financial statements for the year ended September 30, 2022, management determined that the warrants issued with the preferred stock did not meet the conditions for equity classification, requiring liability treatment and measured at fair value. In addition, management also discovered that it did not reflect the impact of amendments that resulted in modifications in privileges for the warrants issued with the Series C Preferred Stock, which should have been accounted for as a deemed dividend at the time of modification. Further, management prematurely recorded the option to issue shares of Series E Preferred Stock. The following table summarizes the impacts of these error corrections on the Company's financial statements for the three and nine months ended June 30, 2022, respectively, presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
ii. Statement of operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Impact of correction of error - quarter | ​ | ​ | ​ | ​ | ​ | Impact of correction of error - year to date | ​ | ​ | ​ | ​
Quarter ended June 30, 2022 (Unaudited) |  | As previously |  | Adjustments |  | As restated |  | As previously |  | Adjustments |  | As restated
​ | ​ | reported | ​ | ​ | ​ | ​ | ​ | reported | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss from operations | ​ | (18,221,165) | ​ | - | ​ | (18,221,165) | ​ | (62,732,442) | ​ | - | ​ | (62,732,442)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other financing costs - initial recognition of warrants at fair value | ​ | - | ​ | - | ​ | - | ​ | - | ​ | (269,344,177) | ​ | (269,344,177)
Gain / (loss) on derivative liability revaluation | ​ | 3,045,000 | ​ | 31,538,523 | ​ | 34,583,523 | ​ | 3,045,000 | ​ | (110,750,006) | ​ | (107,705,006)
Incentive fee to creditor for transfer of note payable | ​ | (23,085,886) | ​ | 23,085,886 | ​ | - | ​ | (23,085,886) | ​ | 23,085,886 | ​ | -
Others | ​ | (21,209,509) | ​ | - | ​ | (21,209,509) | ​ | (45,735,556) | ​ | - | ​ | (45,735,556)
Other income (expense) | ​ | (41,250,395) | ​ | 54,624,409 | ​ | 13,374,014 | ​ | (65,776,442) | ​ | (357,008,297) | ​ | (422,784,739)
Net loss | ​ | (59,471,560) | ​ | 54,624,409 | ​ | (4,847,151) | ​ | (128,508,884) | ​ | (357,008,297) | ​ | (485,517,181)
Deemed dividend on preferred stock | ​ | (2,285,792) | ​ | - | ​ | (2,285,792) | ​ | (4,805,740) | ​ | (32,735,345) | ​ | (37,541,085)
Net loss attributable to common stockholders | ​ | (61,757,352) | ​ | 54,624,409 | ​ | (7,132,943) | ​ | (133,314,624) | ​ | (389,743,642) | ​ | (523,058,266)
Loss per share | ​ | (36.88) | ​ | ​ | ​ | (4.26) | ​ | (176.93) | ​ | ​ | ​ | (694.20)
Weighted average common shares outstanding (after reverse stock splits, see Note 1) | ​ | 1,674,607 | ​ | ​ | ​ | 1,674,607 | ​ | 753,474 | ​ | ​ | ​ | 753,474
​

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