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 |
|
|