Restatement To Previously Issued Condensed Consolidated Financial Statements
|12 Months Ended|
Dec. 31, 2016
|Notes to Financial Statements|
|Restatement To Previously Issued Condensed Consolidated Financial Statements||
13. Restatement to previously issued condensed consolidated financial statements
Subsequent to the issuance of the condensed consolidated financial statements as of September 30, 2016, and for the three and nine month periods then ended, the Company identified errors related to a failure to record a one-time, non-cash $3.8 million charge attributable to the deemed dividend related to the accretion of a discount on Series A convertible preferred stock upon conversion into the Company’s common stock, which occurred in July 2016. To correctly present the deemed dividend on Series A Preferred Stock, net loss attributable to common stockholders and per share net loss attributable to common stockholders, the Company’s previously issued condensed consolidated financial statements as of and for the three and nine month periods ended September 30, 2016 were restated in an amended Quarterly Report on Form 10-Q/A.
The impact of this change as of and for the three and nine month periods ended September 30, 2016, is as follows (in thousands, except share and per share data):
The above-mentioned corrections do not have an effect on consolidated total comprehensive loss, and the consolidated balance sheets or consolidated statements of cash flows, except for the non-cash financing activities presented on the consolidated statements of cash flows.
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/presentationRef