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(I.R.S. Employer Identification No.) |
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(Address of principal executive offices including zip code) |
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Title of Each Class |
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Large accelerated Filer ☐ |
Accelerated Filer ☐ |
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Smaller reporting company |
Emerging growth company |
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(1) |
Correcting and amending the Explanatory Note of the First Amended Form 10-Q/A to clarify that the SEC did not at any time in any correspondence or discussions draw any conclusions or release any statements to the Company regarding the Company’s acquisition of the AppLogiq/Createapp business from Logiq, Inc. (“Logiq”). |
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March 31, 2022 $ | December 31, 2021 $ | |||||||
LIABILITIES AND STOCKHOLDER’S DEFICIT | ||||||||
Current Liabilities | ||||||||
Due to a related party | ||||||||
Total Liabilities | ||||||||
Stockholder’s Funds (Deficit) | ||||||||
Common stock | ||||||||
Authorized: of March 31, 2022 and assets from Logiq Inc. as of December 31, 2021, respectively | ||||||||
Additional paid-in capital | ||||||||
Share subscriptions receivable | ( | ) | ||||||
Deficit | ( | ) | ( | ) | ||||
Total Stockholder’s Funds (Deficit) | ( | ) | ||||||
TOTAL LIABILITIES AND STOCKHOLDER’S FUNDS |
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Three months ended March 31, 2022 $ | Three months ended March 31, 2021 $ | |||||||
Service Revenue | ||||||||
Cost of Service | ||||||||
Gross Profit | ||||||||
Operating Expenses | ||||||||
General and administrative | ||||||||
Sales and Marketing | ||||||||
Research and development | ||||||||
Total Operating Expenses | ||||||||
Net (Loss) and Comprehensive (Loss) | ( | ) | ( | ) | ||||
Basic and Diluted Net (Loss) per Common Share | ( | ) | ( | ) | ||||
Weighted Average Number of Common Shares Outstanding |
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Common Stock | Additional Paid-in | Share Subscription | Accumulated | Total Stockholders’ Equity | ||||||||||||||||||||
Number of Shares | Amount $ | Capital $ | Receivable $ | Deficit $ | (Deficit) $ | |||||||||||||||||||
Balance, December 31, 2021 | - | ( | ) | - | ||||||||||||||||||||
Issuance of Shares for share exchange | ( | ) | ( | ) | - | ( | ) | |||||||||||||||||
Issuance of Shares for services | ( | ) | - | - | - | |||||||||||||||||||
Net (loss) for the year | - | - | - | - | ( | ) | ( | ) | ||||||||||||||||
Balance, March 31, 2022 | ( | ) | ( | ) | ( | ) |
Common Stock | Additional Paid-in | Share Subscription | Accumulated | Total Stockholders’ Equity | ||||||||||||||||||||||||||||||||||||||||
Number of Shares | Amount $ | Capital $ | Receivable $ | Deficit $ | (Deficit) $ | |||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2020 | - | - | ||||||||||||||||||||||||||||||||||||||||||
Net (loss) for the year | - | - | - | - | ( | ) | ( | ) | ||||||||||||||||||||||||||||||||||||
Balance, March 31, 2021 | - | ( | ) |
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March 31, 2022 |
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March 31, 2021 |
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OPERATING ACTIVITIES |
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Net (Loss) for the Period |
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Changes in Operating Assets and Liabilities: |
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Issuance of shares for service received |
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Net Cash (Used) in Operating Activities |
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FINANCING ACTIVITIES |
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Due to related party |
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Net Cash Provided by (Used in) Financing Activities |
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INVESTING ACTIVITIES |
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Arising from transitional arrangements and carve out assumptions on allocation of CreateApp and GoLogiq costs from Logiq, Inc. to the Company |
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Net Movement in Investing Activities |
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Change in Cash |
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Cash, Beginning of Year |
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Cash, End of Period |
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NON-CASH TRANSACTION |
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Issuance of shares for services received |
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March 31, 2022 | December 31, 2021 | |||||||||||||||||||||||
As Filed | Restatement Adjustment | Restated | As Filed | Restatement Adjustment | Restated | |||||||||||||||||||
ASSETS | ||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||
Cash and cash equivalents | - | - | - | - | - | - | ||||||||||||||||||
Intangible assets, net | ( | ) | - | - | - | - | ||||||||||||||||||
Goodwill | ( | ) | - | - | - | - | ||||||||||||||||||
Prepaid expenses and deposits | ( | ) | - | ( | ) | - | ||||||||||||||||||
TOTAL ASSETS | ( | ) | - | ( | ) | - | ||||||||||||||||||
LIABILITIES AND STOCKHOLDER’S DEFICIT | ||||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||||
Accounts payable and accrued liabilities | ( | ) | - | ( | ) | - | ||||||||||||||||||
Due to a related party | ( | ) | - | |||||||||||||||||||||
Total Liabilities | ( | ) | - | |||||||||||||||||||||
Stockholder’s Funds (Deficit) | ||||||||||||||||||||||||
Common stock | ||||||||||||||||||||||||
Authorized: | - | ( | ) | - | ||||||||||||||||||||
Share exchange acquired all the CreateApp assets from Logiq for | - | - | - | - | ||||||||||||||||||||
Additional paid-in capital | ( | ) | ||||||||||||||||||||||
Share subscriptions receivable | ( | ) | - | ( | ) | ( | ) | - | ||||||||||||||||
Deficit | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Total Stockholder’s Funds (Deficit) | ( | ) | ( | ) | ( | ) | - | |||||||||||||||||
TOTAL LIABILITIES AND STOCKHOLDER’S FUNDS | ( | ) | - | ( | ) | - |
8 |
Three months ended March 31, 2021 | ||||||||||||
As Filed | Restatement Adjustment | Restated | ||||||||||
Service Revenue | - | |||||||||||
Cost of Service | - | |||||||||||
Gross Profit | - | |||||||||||
Operating Expenses | ||||||||||||
General and administrative | ||||||||||||
Sales and marketing | - | |||||||||||
Research and development | - | |||||||||||
Total Operating Expenses | ||||||||||||
Net (Loss) and Comprehensive (Loss) | ( | ) | ( | ) | ( | ) | ||||||
Basic and Diluted Net (Loss) per Common Share | ( | ) | - | ( | ) | |||||||
Weighted Average Number of Common Shares Outstanding | - |
9 |
Three months ended March 31, 2022 | ||||||||||||||||||||||||
As Filed | Restatement Adjustment | Restated | As Filed | Restatement Adjustment | Restated | |||||||||||||||||||
OPERATING ACTIVITIES | ||||||||||||||||||||||||
Net (Loss) for the Period | ( | ) | - | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||
Changes in Operating Assets and Liabilities: | ||||||||||||||||||||||||
Prepaid expense and deposits | ( | ) | - | ( | ) | - | ||||||||||||||||||
Accounts payable and accrued liabilities | ( | ) | - | ( | ) | - | ||||||||||||||||||
Issuance of shares for service received | - | - | - | - | ||||||||||||||||||||
Net Cash (Used in) Operating Activities | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||||||||||
Due to related party | ( | ) | ( | ) | ||||||||||||||||||||
Net Cash Provided by (Used in) Financing Activities | ( | ) | ( | ) | ||||||||||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||||||||||
Arising from transitional arrangements and carve out assumptions on allocation of CreateApp and GoLogiq costs from Logiq, Inc. to the Company | ( | ) | ( | ) | - | - | - | |||||||||||||||||
Net Movement in Investing Activities | ( | ) | ( | ) | - | - | - | |||||||||||||||||
Change in Cash | - | - | - | - | ( | ) | ( | ) | ||||||||||||||||
Cash, Beginning of Year | - | - | - | |||||||||||||||||||||
Cash, End of Period | - | - | - | ( | ) | - | ||||||||||||||||||
NON-CASH TRANSACTION | ||||||||||||||||||||||||
Issuance of shares for services received | - | - | - | - |
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25 |
GoLogiq, Inc. | ||
By: | /s/ Granger Whitelaw | |
Granger Whitelaw | ||
Chief Executive Officer | ||
(Principal Executive Officer) | ||
By: | /s/ Stephen Jones | |
Stephen Jones | ||
Chief Financial Officer | ||
(Principal Financial Officer) |
26 |