REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Table)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS |
|
| CONSOLIDATED BALANCE SHEET as of December 31, 2021 |
CONSOLIDATED BALANCE SHEET as of December 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
As Previously |
|
|
|
|
|
|
|
|
|
Reported |
|
|
Adjustment |
|
|
As Revised |
|
Additional paid-in capital |
|
$ |
114,259,830 |
|
|
$ |
(1,167,804 |
) |
|
$ |
113,092,026 |
|
Accumulated deficit |
|
|
(108,227,041 |
) |
|
|
1,167,804 |
|
|
|
(107,059,237 |
) |
|
| CONSOLIDATED STATEMENTS OF OPERATIONS for the Year Ended December 31, 2021 |
CONSOLIDATED STATEMENTS OF OPERATIONS for the Year Ended December 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
As Previously |
|
|
|
|
|
|
|
|
|
Reported |
|
|
Adjustment |
|
|
As Revised |
|
General and Administrative |
|
$ |
6,932,921 |
|
|
$ |
(238,302) |
|
|
$ |
6,694,619 |
|
Research and Development |
|
|
2,119,684 |
|
|
|
(169,184) |
|
|
|
1,950,500 |
|
Total costs and expenses |
|
|
9,052,605 |
|
|
|
(407,486) |
|
|
|
8,645,119 |
|
LOSS FROM OPERATIONS |
|
|
(9,052,605 |
) |
|
|
407,486 |
|
|
|
(8,645,119 |
) |
NET LOSS |
|
|
(9,163,366 |
) |
|
|
407,485 |
|
|
|
(8,775,881 |
) |
BASIC AND DILUTED LOSS PER SHARE |
|
$ |
(1.20 |
) |
|
$ |
0.05 |
|
|
$ |
(1.15 |
) |
|
| CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) For the Year Ended December 31, 2021 |
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) For the Year Ended December 31, 2021 |
|
|
|
|
|
|
|
|
As Previously |
|
|
|
|
|
|
|
|
|
Reported |
|
|
Adjustment |
|
|
As Revised |
|
Balance, December 30, 2020 - Additional Paid in Capital |
|
$ |
87,747,898 |
|
|
$ |
(760,319 |
) |
|
$ |
86,987,579 |
|
Balance, December 30, 2020 - Accumulated Deficit |
|
|
(99,063,675 |
) |
|
|
760,319 |
|
|
|
(98,303,356 |
) |
Employee and director equity-based compensation - Additional Paid in Capital |
|
|
3,377,512 |
|
|
|
(407,485 |
) |
|
|
2,970,027 |
|
Employee and director equity-based compensation - Total |
|
|
3,377,512 |
|
|
|
(407,485 |
) |
|
|
2,970,027 |
|
Net loss for the year ended December 31, 2021 - Accumulated Deficit |
|
|
(9,163,366 |
) |
|
|
407,485 |
|
|
|
(8,775,881 |
) |
Net loss for the year ended December 31, 2021 - Total |
|
|
(9,163,366 |
) |
|
|
407,485 |
|
|
|
(8,775,881 |
) |
Balance, December 31, 2021 - Additional Paid in Capital |
|
|
114,259,830 |
|
|
|
(1,167,804 |
) |
|
|
113,092,026 |
|
Balance, December 31, 2021 - Accumulated Deficit |
|
$ |
(108,227,041 |
) |
|
$ |
1,167,804 |
|
|
$ |
(107,059,237 |
) |
|
| CONSOLIDATED STATEMENT OF CASH FLOWS for the Year Ended December 31, 2021 |
CONSOLIDATED STATEMENT OF CASH FLOWS for the Year Ended December 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
As Previously |
|
|
|
|
|
|
|
|
|
Reported |
|
|
Adjustment |
|
|
As Revised |
|
Net Loss |
|
$ |
(9,163,366 |
) |
|
$ |
407,485 |
|
|
$ |
(8,775,881 |
) |
Employee and director equity compensation |
|
|
3,377,512 |
|
|
|
(407,485 |
) |
|
|
2,970,027 |
|
|