Schedule of The effect of the revisions and reclassifications on the line items |
The effect of the revisions and reclassifications on the line items within the Company’s condensed consolidated statement of operations for the three and nine months ended May 31, 2020, was as follows:
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For the three months ended May 31, 2020
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(unaudited)
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Discontinued
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As Restated
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As Previously
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Revision
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As
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Operations
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and
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Reported
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Adjustments
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Restated
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Reclassification
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Reclassified
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Revenues
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$
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2,014,000
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$
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—
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$
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2,014,000
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$
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—
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$
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2,014,000
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Cost of revenue
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1,873,000
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$
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—
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1,873,000
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—
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1,873,000
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Gross profit
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$
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141,000
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$
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—
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$
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141,000
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$
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—
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$
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141,000
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Operating Expenses
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Depreciation and amortization
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545,000
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(162,000)
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383,000
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—
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383,000
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All other operating expenses
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$
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4,149,000
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$
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—
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$
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4,149,000
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$
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—
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$
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4,149,000
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Operating loss
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$
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(4,553,000)
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$
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162,000
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$
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(4,391,000)
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$
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—
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$
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(4,391,000)
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Net loss from continuing operations
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$
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(71,688,000)
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$
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162,000
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$
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(71,526,000)
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$
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—
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$
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(71,526,000)
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Total income from discontinued operations
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$
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(1,490,000)
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$
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—
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$
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(1,490,000)
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$
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—
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$
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(1,490,000)
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Net loss
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$
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(73,178,000)
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$
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162,000
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$
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(73,016,000)
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$
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—
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$
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(73,016,000)
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Net loss per common share - continuing operations, Basic and diluted
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$
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(2.73)
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$
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0.01
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$
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(2.72)
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$
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—
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$
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(2.72)
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Discontinued operations Operating income (loss) per common share
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$
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(0.06)
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$
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—
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$
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(0.06)
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$
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—
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$
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(0.06)
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Net income (loss) per common share, Basic and diluted
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$
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(2.79)
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$
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0.01
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$
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(2.78)
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$
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—
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$
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(2.78)
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Weighted average number of common stock shares, Basic and diluted
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26,249,518
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26,249,518
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26,249,518
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For the nine months ended May 31, 2020
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(unaudited)
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Discontinued
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As Restated
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As Previously
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Revision
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As
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Operations
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and
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Reported
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Adjustments
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Restated
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Reclassification
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Reclassified
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Revenues
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$
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6,775,000
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$
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—
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$
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6,775,000
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$
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(494,000)
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$
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6,281,000
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Cost of revenue
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6,051,000
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—
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6,051,000
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(227,000)
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5,824,000
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Gross profit
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$
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724,000
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$
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—
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$
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724,000
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$
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(267,000)
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$
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457,000
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Operating Expenses
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Depreciation and amortization
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1,025,000
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(486,000)
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539,000
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—
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539,000
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All other operating expenses
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$
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12,561,000
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$
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—
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$
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12,561,000
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$
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112,000
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$
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12,673,000
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Operating loss
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$
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(12,862,000)
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$
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486,000
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$
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(12,376,000)
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$
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(379,000)
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$
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(12,755,000)
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Net loss from continuing operations
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$
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(80,678,000)
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$
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486,000
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$
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(80,192,000)
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$
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(379,000)
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$
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(80,571,000)
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Total income from discontinued operations
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$
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14,389,000
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$
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—
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$
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14,389,000
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$
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379,000
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$
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14,768,000
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Net loss
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$
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(66,289,000)
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$
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486,000
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$
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(65,803,000)
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$
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—
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$
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(65,803,000)
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Net loss per common share - continuing operations, Basic and diluted
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$
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(5.49)
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$
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0.04
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$
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(5.45)
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$
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(0.03)
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$
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(5.48)
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Discontinued operations Operating income (loss) per common share
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$
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0.98
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$
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—
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$
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0.98
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$
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0.03
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$
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1.01
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Net income (loss) per common share, Basic and diluted
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$
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(4.51)
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$
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0.04
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$
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(4.47)
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$
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—
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$
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(4.47)
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Weighted average number of common stock shares, Basic and diluted
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14,708,554
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14,708,554
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14,708,554
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