Restatements
12 Months Ended
Dec. 31, 2020
Restatements  
16. Restatements

During 2020, we discovered that an accounting error had been made related to the Company not properly classifying certain cost of revenue expenses, which were incorrectly included in selling, general, and administrative expenses.  It was determined that the error was not material to the 2019 consolidated financial statements.  As such, we computed the appropriate amounts related to 2019 and recorded such in the accompanying consolidated financial statements.  See below for a summary of the corrections made for this error:

 

Account

 

Previously

Recorded

Balance

 

 

Corrected Balance

 

 

Correction Made

 

 

 

 

 

 

 

 

 

 

 

Statement of Operations

 

 

 

 

 

 

 

 

 

Cost of revenues

 

$ 428,031

 

 

$ 516,057

 

 

$ 88,026

 

Selling, general and administrative expenses

 

$ 572,297

 

 

$ 484,271

 

 

$ (88,026 )

Net loss

 

$ (479,073 )

 

$ (479,073 )

 

$ -

 

Loss per share

 

$ (0.01 )

 

$ (0.01 )

 

$ -