REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
|6 Months Ended|
Jun. 30, 2021
|REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS|
|REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS||
NOTE 2 — REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
In preparation of the Company’s Form 10-Q for June 30, 2021, the Company concluded it should correct the amounts previously recorded as additional paid-in capital and retained earnings due to a negative balance in additional paid-in capital as of March 31, 2021. The following shareholders’ equity balances as of March 31, 2021 were impacted: an increase to additional paid-in capital of $9,317,719 for a closing balance of $0 and a decrease to retained earnings of $9,317,719 for a closing balance of $4,788,716.
The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef