Revision of first and second quarter 2024 unaudited results (Tables)

9 Months Ended

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	)