| Schedule of Impact of the Correction to the Previously Reported |
The table below sets forth the condensed
consolidated balance sheets, including the balances originally reported, corrections and the as restated balances:
| |
|
As of September 30, 2017 |
|
| |
|
As Reported |
|
|
Correction |
|
|
As Restated |
|
| Trade Receivables – Related Party, net |
|
|
125,001 |
|
|
|
(125,001 |
) |
|
|
- |
|
| Inventories, net |
|
|
2,085,867 |
|
|
|
62,140 |
|
|
|
2,148,007 |
|
| Total Current Assets |
|
|
3,983,292 |
|
|
|
(62,861 |
) |
|
|
3,920,431 |
|
| Total Assets |
|
|
5,528,333 |
|
|
|
(62,861 |
) |
|
|
5,465,472 |
|
| Trade and Other Payables |
|
|
1,549,047 |
|
|
|
88,500 |
|
|
|
1,637,547 |
|
| Total Current Liabilities |
|
|
1,581,792 |
|
|
|
88,500 |
|
|
|
1,670,292 |
|
| Total Liabilities |
|
|
1,581,792 |
|
|
|
88,500 |
|
|
|
1,670,292 |
|
| Accumulated Deficit |
|
|
(100,673,108 |
) |
|
|
(151,361 |
) |
|
|
(100,824,469 |
) |
| Total Stockholder’s Equity |
|
|
3,946,541 |
|
|
|
(151,361 |
) |
|
|
3,795,180 |
|
| Total Liabilities and Stockholders’ Equity |
|
|
5,528,333 |
|
|
|
(62,861 |
) |
|
|
5,465,472 |
|
The table below sets for the condensed
consolidated statements of income, including the balances originally reported, corrections, and the restated amounts:
| |
|
For the nine months ended September 30, 2017 |
|
| |
|
As Reported |
|
|
Correction |
|
|
As Restated |
|
| Product revenue |
|
$ |
2,378,811 |
|
|
$ |
(370 |
) |
|
$ |
2,378,441 |
|
| Product revenue – Related party |
|
|
124,631 |
|
|
|
(124,631 |
) |
|
|
- |
|
| Product Cost of Sales |
|
|
(846,487 |
) |
|
|
(26,360 |
) |
|
|
(872,847 |
) |
| Gross Income |
|
|
1,694,455 |
|
|
|
(151,361 |
) |
|
|
1,543,094 |
|
| Loss from Operations |
|
|
(3,209,039 |
) |
|
|
(151,361 |
) |
|
|
(3,360,400 |
) |
| Loss Before Income Taxes |
|
|
(3,193,571 |
) |
|
|
(151,361 |
) |
|
|
(3,344,932 |
) |
| Net Loss Attributable to Common Stockholders |
|
|
(3,193,571 |
) |
|
|
(151,361 |
) |
|
|
(3,344,932 |
) |
| Comprehensive Loss |
|
|
(3,193,571 |
) |
|
|
(151,361 |
) |
|
|
(3,344,932 |
) |
| Loss per share |
|
$ |
(0.39 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.40 |
) |
The table below
sets forth the condensed consolidated statements of shareholders' equity, including the balances originally reported, corrections
and the as restated balances:
| |
|
As Reported |
|
|
Correction |
|
|
As Restated |
|
| Net loss, for the nine months ended September 30, 2017 |
|
$ |
(3,193,571 |
) |
|
$ |
(151,361 |
) |
|
$ |
(3,344,932 |
) |
| Accumulated Deficit, as of September 30, 2017 |
|
|
(100,673,108 |
) |
|
|
(151,361 |
) |
|
|
(100,824,469 |
) |
| Total Equity, as of September 30, 2017 |
|
|
3,946,541 |
|
|
|
(151,361 |
) |
|
|
3,795,180 |
|
The table below sets forth the condensed
consolidated statements of cash flows from operating activities, including the balances originally reported, corrections and the
as restated balances:
| |
|
For the nine months ended September 30, 2017 |
|
| |
|
As Reported |
|
|
Correction |
|
|
As Restated |
|
| Net loss |
|
$ |
(3,193,571 |
) |
|
$ |
(151,361 |
) |
|
$ |
(3,344,932 |
) |
| (Increase)/Decrease in trade receivables – related party |
|
|
(93,109 |
) |
|
|
125,001 |
|
|
|
31,892 |
|
| Increase in inventories |
|
|
(49,346 |
) |
|
|
(62,140 |
) |
|
|
(111,486 |
) |
| Decrease in trade and other payables |
|
|
85,685 |
|
|
|
88,500 |
|
|
|
174,185 |
|
| Net cash used in operating activities |
|
|
(3,654,858 |
) |
|
|
- |
|
|
|
(3,654,858 |
) |
|