| 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 September 30, 2022 |
|
| Condensed Consolidated Statement of Operations and Comprehensive Loss |
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
| |
|
|
|
|
|
|
|
|
|
| Change in fair value of warrant liabilities |
|
$ |
— |
|
|
$ |
3,050 |
|
|
$ |
3,050 |
|
| Net loss |
|
$ |
(9,484 |
) |
|
$ |
3,050 |
|
|
$ |
(6,434 |
) |
| Net loss attributable to Common Shareholders |
|
$ |
(9,484 |
) |
|
$ |
3,050 |
|
|
$ |
(6,434 |
) |
| Basic and diluted loss per common share |
|
$ |
(1.48 |
) |
|
$ |
0.48 |
|
|
$ |
(1.00 |
) |
| Comprehensive loss |
|
$ |
(9,494 |
) |
|
$ |
3,050 |
|
|
$ |
(6,444 |
) |
| |
|
|
|
|
|
|
|
|
|
| |
|
For the nine months ended September 30, 2022 |
|
| Condensed Consolidated Statement of Operations and Comprehensive Loss |
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
| |
|
|
|
|
|
|
|
|
|
| Change in fair value of warrant liabilities |
|
$ |
— |
|
|
$ |
5,995 |
|
|
$ |
5,995 |
|
| Net loss |
|
$ |
(38,570 |
) |
|
$ |
5,995 |
|
|
$ |
(32,575 |
) |
| Net loss attributable to Common Shareholders |
|
$ |
(42,352 |
) |
|
$ |
5,995 |
|
|
$ |
(36,357 |
) |
| Basic and diluted loss per common share |
|
$ |
(7.05 |
) |
|
$ |
1.00 |
|
|
$ |
(6.05 |
) |
| Comprehensive loss |
|
$ |
(42,369 |
) |
|
$ |
5,995 |
|
|
$ |
(36,374 |
) |
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 September 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, June 30, 2022 |
|
$ |
703,379 |
|
|
$ |
(9,007 |
) |
|
$ |
694,372 |
|
| Accumulated deficit, June 30, 2022 |
|
$ |
(684,726 |
) |
|
$ |
2,945 |
|
|
$ |
(681,781 |
) |
| Total stockholders’ equity, June 30, 2022 |
|
$ |
20,086 |
|
|
$ |
(6,062 |
) |
|
$ |
14,024 |
|
| Net loss for the three months ended September 30, 2022 |
|
$ |
(9,484 |
) |
|
$ |
3,050 |
|
|
$ |
(6,434 |
) |
| Net loss for the nine months ended September 30, 2022 |
|
$ |
(38,570 |
) |
|
$ |
5,995 |
|
|
$ |
(32,575 |
) |
| Additional paid-in capital, September 30, 2022 |
|
$ |
709,590 |
|
|
$ |
(9,007 |
) |
|
$ |
700,583 |
|
| Accumulated deficit, September 30, 2022 |
|
$ |
(694,210 |
) |
|
$ |
5,995 |
|
|
$ |
(688,215 |
) |
| Total stockholders’ equity, September 30, 2022 |
|
$ |
15,413 |
|
|
$ |
(3,012 |
) |
|
$ |
12,401 |
|
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 nine months ended September 30, 2022 |
|
| Condensed Consolidated Cash Flow Statement |
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
| |
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(38,570 |
) |
|
$ |
5,995 |
|
|
$ |
(32,575 |
) |
| Adjustments to reconcile net loss to cash used in operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Change in fair value of warrant liabilities |
|
$ |
— |
|
|
$ |
(5,995 |
) |
|
$ |
(5,995 |
) |
| Net cash used in operating activities |
|
$ |
(29,491 |
) |
|
$ |
— |
|
|
$ |
(29,491 |
) |
|