| Impact of errors on financial statements |
| Impact of Errors on the Consolidated Balance Sheet |
| |
|
As of 12/31/15 |
|
|
|
|
|
As of 12/31/15 |
|
|
|
|
| in $ |
|
As
Presented |
|
|
Adjustment |
|
|
As
Adjusted |
|
|
%
Variance |
|
| Preferred
Stock, $0.001 par value, 10,000,000 share authorized, respectively; 5,290 shares issued and outstanding |
|
$ |
6 |
|
|
|
– |
|
|
$ |
6 |
|
|
|
– |
|
| Common Stock, $0.001
par value, 233,333,334 shares authorized, respectively; 3,753,150 shares issued and outstanding |
|
|
3,753 |
|
|
|
– |
|
|
|
3,753 |
|
|
|
– |
|
| Common Stock to Be Issued |
|
|
24 |
|
|
|
– |
|
|
|
24 |
|
|
|
– |
|
| Additional Paid in Capital |
|
|
41,163,577 |
|
|
|
3,383,850 |
|
|
|
44,547,427 |
|
|
|
8% |
|
| Accumulated Deficit |
|
|
(27,045,776 |
) |
|
|
(3,383,850 |
) |
|
|
(30,429,626 |
) |
|
|
13% |
|
| Accumulated Other Comprehensive
Income (Loss) |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Total Equity |
|
$ |
14,121,584 |
|
|
|
– |
|
|
$ |
14,121,584 |
|
|
|
– |
|
| Impact of Errors on the Consolidated
Statement of Operations |
| |
|
For the twelve months ended 12/31/15 |
|
|
|
|
|
For the twelve months ended 12/31/15 |
|
|
|
|
| in $ |
|
As
Presented |
|
|
Adjustment |
|
|
As
Adjusted |
|
|
%
Variance |
|
| Net Loss |
|
$ |
(3,483,122 |
) |
|
|
– |
|
|
$ |
(3,483,122 |
) |
|
|
0% |
|
| Beneficial Conversion
Feature on Preferred Stock |
|
|
(400,000 |
) |
|
|
(3,383,850 |
) |
|
|
(3,783,850 |
) |
|
|
-846% |
|
| Net Loss Applicable to
Common Shareholders |
|
|
(3,883,122 |
) |
|
|
(3,383,850 |
) |
|
|
(7,266,972 |
) |
|
|
-87% |
|
| Net Loss per Common Share |
|
$ |
(1.55 |
) |
|
|
(1.35 |
) |
|
$ |
(2.90 |
) |
|
|
-87% |
|
| Weighted Average Shares
Outstanding |
|
|
2,500,854 |
|
|
|
– |
|
|
|
2,500,854 |
|
|
|
0% |
|
| Impact of Errors on the Consolidated
Statement of Operations |
| |
|
For the nine months ended 9/30/16 |
|
|
|
|
|
For the nine months ended 9/30/16 |
|
|
|
|
| in $ |
|
As
Presented |
|
|
Adjustment |
|
|
As
Adjusted |
|
|
%
Variance |
|
| Net Loss |
|
$ |
(4,363,567 |
) |
|
|
– |
|
|
$ |
(4,363,567 |
) |
|
|
0% |
|
| Beneficial Conversion
Feature on Preferred Stock |
|
|
(335,000 |
) |
|
|
335,000 |
|
|
|
– |
|
|
|
100% |
|
| Net Loss Applicable to
Common Shareholders |
|
$ |
(4,698,567 |
) |
|
|
335,000 |
|
|
|
(4,363,567 |
) |
|
|
7% |
|
| Net Loss per Common Share |
|
$ |
(1.21 |
) |
|
|
0.09 |
|
|
$ |
(1.12 |
) |
|
|
7% |
|
| Weighted Average Shares
Outstanding |
|
|
3,889,108 |
|
|
|
– |
|
|
|
3,889,108 |
|
|
|
0% |
|
|