Restatement of Financial Statements

3 Months Ended

Mar. 31, 2022

Restatement of Financial Statements [Abstract]

RESTATEMENT OF FINANCIAL STATEMENTS

NOTE 18 RESTATEMENT OF FINANCIAL STATEMENTS

In these restated financial statements and footnotes, the following tables compare the Company’s previously issued Balance Sheet, Statement of Operations and Statement of Cash Flows as of March 31, 2022 and for the three months then ended to the corresponding restated financial statements for the period end. The adjustment that relates to the restated financial statements is the recording of a $1.3 million reduction of amortization expense associated with intangible assets.

The effects of the restatement on the line items within the Company’s unaudited condensed consolidated March 31, 2022 financial statements are as follows:

(Amounts in thousands, except share and per share data)	As Originally Reported			Adjustment			As Restated
Condensed Consolidated Balance Sheet
Intangibles,net	$	13,749		$	1,327		$	15,076
Total assets	$	90,462		$	1,327		$	91,789
Condensed Consolidated Statement of Operations
Depreciation and amortization	$	2,217		$	(1,327	)	$	890
Total operating income (expenses), net	$	1,171		$	(1,327	)	$	(156	)
Income (loss) from operations	$	(138	)	$	1,327		$	1,189
Net income (loss)	$	(1,191	)	$	1,327		$	136
Net loss attibutable to common stockholders	$	(1,314	)	$	1,327		$	13
Net loss per share	$	(0.02	)	$	0.02		$	-
Condensed Consolidated Statement of Stockholders' Equity
Accumulated deficit	$	(219,034	)	$	1,327		$	(217,707	)
Total Stockholder's Equity	$	48,553		$	1,327		$	49,880
Condensed Consolidated Statement of Cash Flows
Net income (loss)	$	(1,191	)	$	1,327		$	136
Amortization	$	1,712		$	(1,327	)	$	385
Total adjustments	$	(7,528	)	$	(1,327	)	$	(8,855	)