These are the changes.....pretty accurate, with th
Post# of 36537
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Posted On: 04/17/2019 8:04:31 AM
These are the changes.....pretty accurate, with the T's crossed and a dot on every i.....they don't hide anything....
Specifically, this Amended 10-Q/A is being filed in order to restate:
• Our balance sheets as of January 31, 2019 by recording an overall increase in Total Assets and Total Liabilities, Redeemable Non-Controlling Interest, and Stockholder’s Equity by approximately $310,000 as a result of recording approximately $4.0 million of Redeemable Non-Controlling Interest, and reclassification of $3.0 million of Additional Paid-in Capital and a reduction of approx. $1.8 million of Preferred Series A Stock related to the acquisition of Regentys Corporation; and by recording approximately $750,000 of Additional Paid-in Capital, and reclassification and reduction of approx. $1.0 million of Preferred Series A Stock and additional reclassifications of accounts receivable and an increase in cash of approximately $187,000 related to the recent acquisitions. Goodwill and intangible assets had a net decrease of approx. $19,000 which included: increase of $143,000 to account for the reduction of impairment of Grainland’s intangible assets, increase of $400,000 related to the purchase price allocation adjustment of goodwill for the Regentys acquisition, decrease of $250,000 related to the purchase price allocation adjustment of goodwill for the Olaregen acquisition, decrease of approx. $6,000 to goodwill which should have been classified as other current assets and decrease of intangible assets of approx. $305,000 to record amortization on Veneto intangible assets.
• Our statements of operations for the three months and six months ended January 31, 2019. As a result of the restatement, our consolidated net income for the three months and six months ended January 31, 2018 increased by approximately $167,000, and a reclassification and elimination of intercompany accounts and transactions resulting in a reduction of approximately $1.4 million of Revenues and General and Administrative Expenses related to the operations of the Veneto acquisition, and a reduction and reclassification of an Impairment of a Long-Lived Asset by approximately $142,000 related other activities.
• Our statement of cash flows for the six months ended January 31, 2019 resulted in an increase in cash of approximately $187,000 primarily from changes in the operations of the acquired assets from Veneto acquisition.
Specifically, this Amended 10-Q/A is being filed in order to restate:
• Our balance sheets as of January 31, 2019 by recording an overall increase in Total Assets and Total Liabilities, Redeemable Non-Controlling Interest, and Stockholder’s Equity by approximately $310,000 as a result of recording approximately $4.0 million of Redeemable Non-Controlling Interest, and reclassification of $3.0 million of Additional Paid-in Capital and a reduction of approx. $1.8 million of Preferred Series A Stock related to the acquisition of Regentys Corporation; and by recording approximately $750,000 of Additional Paid-in Capital, and reclassification and reduction of approx. $1.0 million of Preferred Series A Stock and additional reclassifications of accounts receivable and an increase in cash of approximately $187,000 related to the recent acquisitions. Goodwill and intangible assets had a net decrease of approx. $19,000 which included: increase of $143,000 to account for the reduction of impairment of Grainland’s intangible assets, increase of $400,000 related to the purchase price allocation adjustment of goodwill for the Regentys acquisition, decrease of $250,000 related to the purchase price allocation adjustment of goodwill for the Olaregen acquisition, decrease of approx. $6,000 to goodwill which should have been classified as other current assets and decrease of intangible assets of approx. $305,000 to record amortization on Veneto intangible assets.
• Our statements of operations for the three months and six months ended January 31, 2019. As a result of the restatement, our consolidated net income for the three months and six months ended January 31, 2018 increased by approximately $167,000, and a reclassification and elimination of intercompany accounts and transactions resulting in a reduction of approximately $1.4 million of Revenues and General and Administrative Expenses related to the operations of the Veneto acquisition, and a reduction and reclassification of an Impairment of a Long-Lived Asset by approximately $142,000 related other activities.
• Our statement of cash flows for the six months ended January 31, 2019 resulted in an increase in cash of approximately $187,000 primarily from changes in the operations of the acquired assets from Veneto acquisition.
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