Schedule of Restated Consolidated Balance Sheet And Consolidated Statements Of Operations |
Schedule of Restated Consolidated
Balance Sheet And Consolidated Statements Of Operations
THUMZUP
MEDIA CORPORATION
BALANCE
SHEETS
|
|
December 31, 2022 |
|
|
Restatement Adjustment |
|
|
December 31, 2022 |
|
|
|
(As Reported) |
|
|
|
|
|
(As Restated) |
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
$ |
1,155,343 |
|
|
$ |
- |
|
|
$ |
1,155,343 |
|
Prepaid expenses |
|
|
2,903 |
|
|
|
- |
|
|
|
2,903 |
|
Total current assets |
|
|
1,158,246 |
|
|
|
- |
|
|
|
1,158,246 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
2,553 |
|
|
|
- |
|
|
|
2,553 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
1,160,799 |
|
|
$ |
- |
|
|
$ |
1,160,799 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
91,359 |
|
|
$ |
- |
|
|
$ |
91,359 |
|
Liquidated damages and accrued interest |
|
|
- |
|
|
|
282,916 |
|
|
|
282,916 |
|
Total current liabilities |
|
|
91,359 |
|
|
|
282,916 |
|
|
|
374,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
91,359 |
|
|
|
282,916 |
|
|
|
374,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock - 20,000,000 shares authorized: |
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock - Series A, $0.001 par value, $45,000 stated value, 1,000,000 shares authorized; 125,865 shares issued and outstanding |
|
|
126 |
|
|
|
- |
|
|
|
126 |
|
Preferred
stock, value |
|
|
|
|
|
|
|
|
|
|
|
|
Common stock, $0.001 par value, 250,000,000 shares authorized; 7,108,336 shares issued and outstanding |
|
|
7,108 |
|
|
|
- |
|
|
|
7,108 |
|
Additional paid in capital |
|
|
3,179,913 |
|
|
|
- |
|
|
|
3,179,913 |
|
Subscription receivable |
|
|
(33,000 |
) |
|
|
- |
|
|
|
(33,000 |
) |
Accumulated deficit |
|
|
(2,084,707 |
) |
|
|
(282,916 |
) |
|
|
(2,367,623 |
) |
Total stockholders’ equity |
|
|
1,069,440 |
|
|
|
(282,916 |
) |
|
|
786,524 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders’ equity |
|
$ |
1,160,799 |
|
|
$ |
- |
|
|
$ |
1,160,799 |
|
The
accompanying notes are an integral part of these financial statements.
THUMZUP
MEDIA CORPORATION
STATEMENTS
OF OPERATIONS
|
|
For the
Year Ended
December 31, 2022 |
|
|
Restatement Adjustment |
|
|
For the
Year Ended
December 31, 2022 |
|
|
|
(As Reported) |
|
|
|
|
|
(As Restated) |
|
Revenues |
|
$ |
2,421 |
|
|
$ |
- |
|
|
$ |
2,421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues |
|
|
439 |
|
|
|
- |
|
|
|
439 |
|
Sales and marketing |
|
|
224,088 |
|
|
|
- |
|
|
|
224,088 |
|
Research and development |
|
|
567,408 |
|
|
|
- |
|
|
|
567,408 |
|
General and administrative |
|
|
418,940 |
|
|
|
- |
|
|
|
418,940 |
|
Depreciation and amortization |
|
|
2,160 |
|
|
|
- |
|
|
|
2,160 |
|
Total Operating Expenses |
|
|
1,213,035 |
|
|
|
- |
|
|
|
1,213,035 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss From Operations |
|
|
(1,210,614 |
) |
|
|
- |
|
|
|
(1,210,614 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense): |
|
|
|
|
|
|
|
|
|
|
|
|
Expense for liquidated damages |
|
|
- |
|
|
|
(268,202 |
) |
|
|
(268,202 |
) |
Interest expense |
|
|
(11,151 |
) |
|
|
(14,714 |
) |
|
|
(25,865 |
) |
Total Other Income (Expense) |
|
|
(11,151 |
) |
|
|
(282,916 |
) |
|
|
(294,067 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for Income Taxes (Benefit) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss |
|
|
(1,221,765 |
) |
|
|
(282,916 |
) |
|
|
(1,504,681 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) Available to Common Stockholders |
|
$ |
(1,221,765 |
) |
|
$ |
(282,916 |
) |
|
$ |
(1,504,681 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) Per Common Share: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
(0.20 |
) |
|
$ |
(0.04 |
) |
|
$ |
(0.24 |
) |
Diluted |
|
$ |
(0.20 |
) |
|
$ |
(0.04 |
) |
|
$ |
(0.24 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average Common Shares Outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
6,215,753 |
|
|
|
|
|
|
|
6,215,753 |
|
Diluted |
|
|
6,215,753 |
|
|
|
|
|
|
|
6,215,753 |
|
|