Quarterly report pursuant to Section 13 or 15(d)

Organization and Description of Business (Tables)

v3.22.2.2
Organization and Description of Business (Tables)
6 Months Ended
Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Effects Of Reclassification Adjustment On The Line Items Of Consolidated Statements Of Operations
The following table summarizes the effects of reclassification adjustment on the line items within the Company’s unaudited interim condensed consolidated statements of operations:
 
 
 
 
 
 
 
 
 
 
 
 
Prior Year’s Line item
  
Reclassified Amount
    
Current Year’s Line item
    
Three Months
Ended June 30,
2021
    
Six Months
Ended June 30,
2021
      
Depreciation and amortization
   $ 495      $ 1,037      Selling, general and administrative expenses
Depreciation and amortization
     (495      (1,037    Depreciation and amortization
Summary of Effects Of the Adjustment On The Line items Within Consolidated Financial Statements
The effect of the adjustments on the line items within the Company’s consolidated balance sheet as of December 31, 2021 is as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    
December 31, 2021
 
    
As previously reported
    
Adjustment
    
As adjusted
 
Inventories
   $ 30,447      $ (1,755    $ 28,692  
Current assets
     55,401        (1,755      53,646  
Total assets
     346,744        (1,755      344,989  
Accrued and other current liabilities
     99,446        (513      98,933  
Current liabilities
     285,821        (513      285,308  
Total liabilities
     369,141        (513      368,628  
Accumulated deficit
     (800,390      (1,242      (801,632
Total shareholders’ deficit
     (22,397      (1,242      (23,639
Total liabilities and shareholders’ deficit
     346,744        (1,755      344,989  
The effect of the adjustments on the line items within the Company’s consolidated statement of operations as of December 31, 2021 is as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    
Year Ended December 31, 2021
 
    
As previously reported
    
Adjustment
    
As adjusted
 
Costs and expenses applicable to revenues
   $ (91,735    $ (1,755    $ (93,490
Gross profit
     111,283        (1,755      109,528  
Loss from operations
     (22,025      (1,755      (23,780
Loss from operations before income tax
     (53,999      (1,755      (55,754
Income tax expense
     22,249        (513      21,736  
Net loss
     (76,248      (1,242      (77,490
Earnings per share
     (0.44      (0.01      (0.45
The effect of the adjustments on the line items within the Company’s unaudited interim condensed consolidated statements of changes in shareholders’ deficit for the three and six months ended June 30, 2022 is as follows:
 
 
  
June 30, 2022
 
 
  
As reported
 
  
Adjustment
 
  
As adjusted
 
Accumulated deficit – Balance January 1, 2022
   $ (800,390    $ (1,242    $ (801,632
Total Shareholders’ deficit – Balance January 1, 2022
     (22,397      (1,242      (23,639