| Schedule of The effect of this restatement on the line items included in our condensed financial statements |
The effect of this restatement on the line items included in our condensed consolidated financial statements for our fiscal quarter ended May 31, 2021, is as follows:
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May 31, 2021
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As
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Previously
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As
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Reported
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Adjustments
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Restated
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Prepaid expenses and other current assets
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$
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738,000
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(155,000)
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$
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583,000
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Deferred Offering Costs - SPACs
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—
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48,083,000
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48,083,000
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Total Assets
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22,139,000
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47,928,000
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70,067,000
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Noncontrolling interests in consolidated subsidiaries
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—
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47,472,000
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47,472,000
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Total Equity (Deficit)
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22,139,000
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47,928,000
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70,067,000
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Revenues – three months ended May 31, 2021
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2,648,000
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6,827,000
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9,475,000
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Cost of revenues – three months ended May 31, 2021
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3,095,000
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6,827,000
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9,922,000
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Gross profit – three months ended May 31, 2021
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(447,000)
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—
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(447,000)
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Revenues – nine months ended May 31, 2021
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7,570,000
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6,827,000
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14,397,000
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Cost of revenues – nine months ended May 31, 2021
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7,141,000
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6,827,000
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13,968,000
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Gross profit - nine months ended May 31, 2021
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429,000
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—
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429,000
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Three months ended May 31, 2021:
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Operating expenses – Professional fees
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1,585,000
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(456,000)
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1,129,000
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All other operating expenses
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5,972,000
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—
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5,972,000
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Total Operating expenses
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7,557,000
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(456,000)
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7,101,000
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Nine months ended May 31, 2021:
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Operating expenses – Professional fees
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3,298,000
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(456,000)
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2,842,000
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All other operating expenses
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16,713,000
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—
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16,713,000
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Total Operating expenses
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20,011,000
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(456,000)
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19,555,000
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Net loss – three months ended May 31, 2021
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7,984,000
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(456,000)
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7,528,000
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Net loss – nine months ended May 31, 2021
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21,103,000
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(456,000)
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20,647,000
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Net loss per share, basic and diluted
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Continuing operations for the 3 months ended May 31, 2021
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(0.24)
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0.02
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(0.22)
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Continuing operations for the 9 months ended May 31, 2021
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(0.60)
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0.01
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(0.59)
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Cash used in operations
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(15,272,000)
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611,000
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(14.661,000)
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Cash provided by financing operations
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21,764,000
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(611.000)
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21,153,000
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