Quarterly report pursuant to Section 13 or 15(d)

Restatement of Condensed Consolidated Financial Statements (Tables)

v3.22.1
Restatement of Condensed Consolidated Financial Statements (Tables)
9 Months Ended
Oct. 31, 2021
Accounting Changes and Error Corrections [Abstract]  
Schedule of the effect of restatement to the Company's financial statements

 

 

 

As of October 31, 2021

 

Balance Sheet

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

Assets

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

2,246

 

 

$

2,429

 

 

$

4,675

 

Unbilled receivables

 

 

3,885

 

 

 

1,179

 

 

 

5,064

 

Related party receivables and loan receivables

 

 

3,521

 

 

 

571

 

 

 

4,092

 

Account and loan receivable

 

 

9,652

 

 

 

4,179

 

 

 

13,831

 

Total current assets

 

 

93,699

 

 

 

4,179

 

 

 

97,878

 

Total assets

 

$

102,002

 

 

$

4,179

 

 

$

106,181

 

 

 

 

 

 

 

 

 

 

 

Liabilities and stockholders' equity

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

Deferred Revenue

 

$

12,929

 

 

$

3,450

 

 

$

16,379

 

Total current liabilities

 

 

24,483

 

 

 

3,450

 

 

 

27,933

 

Deferred Revenue

 

 

17,181

 

 

 

729

 

 

 

17,910

 

Total liabilities

 

$

43,204

 

 

$

4,179

 

 

$

47,383

 

 

 

 

 

 

 

 

 

 

 

Stockholders' equity

 

 

 

 

 

 

 

 

 

Additional paid-in capital

 

$

459,349

 

 

$

(30,173

)

 

$

429,176

 

Accumulated deficit

 

 

(400,828

)

 

 

30,173

 

 

 

(370,655

)

Total liabilities and stockholders' equity

 

$

102,002

 

 

$

4,179

 

 

$

106,181

 

 

 

 

 

 

3 Months Ended October 31, 2021

 

 

9 Months Ended October 31, 2021

 

Statement of Operations

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

Research and development

 

$

28,144

 

 

$

(3,689

)

 

$

24,455

 

 

$

42,606

 

 

$

(3,689

)

 

$

38,917

 

Sales and marketing

 

 

57,196

 

 

 

(5,952

)

 

 

51,244

 

 

 

72,046

 

 

 

(5,951

)

 

 

66,095

 

General and administrative

 

 

100,267

 

 

 

(20,532

)

 

 

79,735

 

 

 

111,952

 

 

 

(20,533

)

 

 

91,419

 

Operating Expenses

 

 

185,607

 

 

 

(30,173

)

 

 

155,434

 

 

 

226,604

 

 

 

(30,173

)

 

 

196,432

 

Operating Loss

 

 

(181,062

)

 

 

30,173

 

 

 

(150,889

)

 

 

(213,361

)

 

 

30,173

 

 

 

(183,188

)

Loss before income taxes

 

 

(193,088

)

 

 

30,173

 

 

 

(162,915

)

 

 

(225,733

)

 

 

30,173

 

 

 

(195,560

)

Benefit (provision) for income taxes

 

 

(34

)

 

 

-

 

 

 

(34

)

 

 

(56

)

 

 

-

 

 

 

(56

)

Net loss

 

 

(193,122

)

 

 

30,173

 

 

 

(162,949

)

 

 

(225,789

)

 

 

30,173

 

 

 

(195,616

)

Basic and diluted net loss per common share

 

$

(2.22

)

 

$

0.35

 

 

$

(1.87

)

 

$

(3.05

)

 

$

0.41

 

 

$

(2.64

)

 

 

 

 

 

9 Months Ended October 31, 2021

 

Statement of Cash Flows

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

Cash flows from operating activities

 

 

 

 

 

 

 

 

 

Net Loss

 

$

(225,789

)

 

$

30,173

 

 

$

(195,616

)

Employee stock based compensation

 

 

160,156

 

 

 

(30,173

)

 

 

129,983

 

Change in Operating Assets and Liabilities

 

 

 

 

 

 

 

 

 

Accounts receivable

 

 

(2,984

)

 

 

(4,179

)

 

 

(7,163

)

Deferred revenue

 

 

(3,934

)

 

 

4,179

 

 

 

245

 

Net cash used in operating activities

 

$

(59,095

)

 

$

-

 

 

$

(59,095

)

 

 

 

 

 

3 Months Ended October 31, 2021

 

 

9 Months Ended October 31, 2021

 

Statements of Comprehensive Loss

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

Net loss

 

$

(193,122

)

 

$

30,173

 

 

$

(162,949

)

 

$

(225,789

)

 

$

30,173

 

 

$

(195,616

)

Comprehensive loss

 

$

(192,819

)

 

$

30,173

 

 

$

(162,646

)

 

$

(225,561

)

 

$

30,173

 

 

$

(195,388

)

 

 

 

Statement of Changes in Stockholders' Equity for the 3 months Ended October 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Additional Paid-In Capital

 

 

Accumulated Deficit

 

 

Total Stockholders' Equity

 

 

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

Stock-based compensation

 

$

160,129

 

 

$

(30,173

)

 

$

129,956

 

 

 

 

 

 

 

 

 

 

 

$

160,129

 

 

$

(30,173

)

 

$

129,956

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(193,122

)

 

 

30,173

 

 

 

(162,949

)

 

 

(193,122

)

 

 

30,173

 

 

 

(162,949

)

Balance at October 31, 2021

 

$

459,349

 

 

$

(30,173

)

 

$

429,176

 

 

$

(400,828

)

 

$

30,173

 

 

$

(370,655

)

 

$

58,798

 

 

$

-

 

 

$

58,798

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement of Changes in Stockholders' Equity for the 9 months Ended October 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Additional Paid-In Capital

 

 

Accumulated Deficit

 

 

Total Stockholders' Equity

 

 

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

 

As Previously Reported

 

 

Adjustments

 

 

As Restated

 

Stock-based compensation

 

$

160,156

 

 

$

(30,173

)

 

$

129,983

 

 

 

 

 

 

 

 

 

 

 

$

160,156

 

 

$

(30,173

)

 

$

129,983

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(225,789

)

 

 

30,173

 

 

 

(195,616

)

 

 

(225,789

)

 

 

30,173

 

 

 

(195,616

)

Balance at October 31, 2021

 

$

459,349

 

 

$

(30,173

)

 

$

429,176

 

 

$

(400,828

)

 

$

30,173

 

 

$

(370,655

)

 

$

58,798

 

 

$

-

 

 

$

58,798