Note 6 - Restatement |
3 Months Ended | |||||||||||||||||||||||||||||||||||
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Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||
| Note 6 - Restatement | ||||||||||||||||||||||||||||||||||||
| Note 6 - Restatement |
The Company’s management determined that the Company needs to make adjustments to correct errors identified in the previously issued financial statements related to the non-cash calculation of warranty liabilities. The error affects the periods ending December 31, 2015, March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016 financial statements.
As a result of the error, the Company will recognize a decrease the Change in Warrant Liability by $11,265,000 through December 31, 2016.
This change had no net effect on the balance sheet and cash flows from operations, investing or financing.
The following table presents the impact of the restatement adjustment on the Company’s Consolidated Statement of Operations for the three months ended March 31, 2016.
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