| SCHEDULE OF EFFECTS OF THE RESTATEMENT TO AMOUNTS IN THE PREVIOUSLY REPORTED CONSOLIDATED FINANCIAL STATEMENTS |
The
following tables present the effects of the correction of the prior period error to the condensed consolidated statement of operations
and comprehensive loss (in thousands, except for per share data):
SCHEDULE
OF EFFECTS OF THE RESTATEMENT TO AMOUNTS IN THE PREVIOUSLY REPORTED CONSOLIDATED FINANCIAL STATEMENTS
| |
|
|
|
|
|
|
|
|
|
| |
|
For the three months ended June 30, 2022 |
|
| Condensed Consolidated Statement of Operations and Comprehensive Loss |
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
| |
|
|
|
|
|
|
|
|
|
| Change in fair value of warrant liabilities |
|
$ |
— |
|
|
$ |
4,198 |
|
|
$ |
4,198 |
|
| Net loss |
|
$ |
(8,295 |
) |
|
$ |
4,198 |
|
|
$ |
(4,097 |
) |
| Net loss attributable to Common Shareholders |
|
$ |
(12,077 |
) |
|
$ |
4,198 |
|
|
$ |
(7,879 |
) |
| Basic and diluted loss per common share |
|
$ |
(2.08
|
) |
|
$ |
0.72 |
|
|
$ |
(1.36
|
) |
| Comprehensive loss |
|
$ |
(12,081 |
) |
|
$ |
4,198 |
|
|
$ |
(7,883 |
) |
| |
|
|
|
|
|
|
|
|
|
| |
|
For the six months ended June 30, 2022 |
|
| Condensed Consolidated Statement of Operations and Comprehensive Loss |
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
| |
|
|
|
|
|
|
|
|
|
| Change in fair value of warrant liabilities |
|
$ |
— |
|
|
$ |
2,945 |
|
|
$ |
2,945 |
|
| Net loss |
|
$ |
(29,086 |
) |
|
$ |
2,945 |
|
|
$ |
(26,141 |
) |
| Net loss attributable to Common Shareholders |
|
$ |
(32,868 |
) |
|
$ |
2,945 |
|
|
$ |
(29,923 |
) |
| Basic and diluted loss per common share |
|
$ |
(5.67
|
) |
|
$ |
0.51 |
|
|
$ |
(5.16
|
) |
| Comprehensive loss |
|
$ |
(32,875 |
) |
|
$ |
2,945 |
|
|
$ |
(29,930 |
) |
The
following tables present the effects of the correction of the prior period error to the condensed consolidated cash flow statement (in
thousands):
| |
|
For the six months ended June 30, 2022 |
|
| Condensed Consolidated Cash Flow Statement |
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
| |
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(29,086 |
) |
|
$ |
2,945 |
|
|
$ |
(26,141 |
) |
| Adjustments to reconcile net loss to cash used in operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Change in fair value of warrant liabilities |
|
$ |
— |
|
|
$ |
(2,945 |
) |
|
$ |
(2,945 |
) |
| Net cash provided by operating activities |
|
$ |
(22,700 |
) |
|
$ |
— |
|
|
$ |
(22,700 |
) |
The
following tables present the effects of the correction of the prior period error to the condensed consolidated statement of stockholders’
equity (in thousands):
| |
|
As of June 30, 2022 |
|
| Condensed Consolidated Statement of Stockholders’ Equity |
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
| |
|
|
|
|
|
|
|
|
|
| Additional paid-in capital, December 31, 2021 |
|
$ |
705,570 |
|
|
$ |
(9,007 |
) |
|
$ |
696,563 |
|
| Total stockholders’ equity, December 31, 2021 |
|
$ |
51,375 |
|
|
$ |
(9,007 |
) |
|
$ |
42,368 |
|
| Additional paid-in capital, March 31, 2022 |
|
$ |
706,433 |
|
|
$ |
(9,007 |
) |
|
$ |
697,426 |
|
| Additional paid-in capital, March 31, 2022 |
|
$ |
31,443 |
|
|
$ |
(10,260 |
) |
|
$ |
21,183 |
|
| Net loss |
|
$ |
(29,086 |
) |
|
$ |
2,945 |
|
|
$ |
(26,141 |
) |
| Additional paid-in capital, June 30, 2022 |
|
$ |
703,379 |
|
|
$ |
(9,007 |
) |
|
$ |
694,372 |
|
| Total stockholders’ equity, June 30, 2022 |
|
$ |
20,086 |
|
|
$ |
(6,062 |
) |
|
$ |
14,024 |
|
|
| SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE |
SCHEDULE
OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE
| |
|
For the three and six months ended June 30, |
|
| |
|
2023 |
|
|
2022 |
|
| |
|
|
|
|
|
|
| Stock options |
|
|
230,723 |
|
|
|
265,411 |
|
| Restricted stock |
|
|
2,566,303 |
|
|
|
61,108 |
|
| Warrants |
|
|
9,397,879 |
|
|
|
1,788,000 |
|
| Total |
|
|
12,194,905 |
|
|
|
2,114,519 |
|
|