Note 15 - Prior Period Financial Statement Revision

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Accounting Changes and Error Corrections [Text Block]

15.

  

Prior Period Financial Statement Revision

During the

first

quarter of

2019,

the Company identified an error related to the calculation of its comprehensive loss for the

six

months ended

December 31, 2017.

The Company inadvertently used the net loss attributable to common stockholders amount as the net loss amount in the calculation. The Company assessed the materiality of this error on its financial statements in accordance with the SEC Staff Accounting Bulletin (“SAB”)

No.

108,

“

Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, codified in Accounting Standards Codification (ASC)

250

-

10

-

20,

Error in Previously Issued Financial Statements

”, and concluded that it was

not

material to any prior period. The Company has corrected the error presented by revising the consolidated statement of operations and comprehensive loss for the

six

months ended

December 31, 2017.

The effect of the correction of the immaterial error on the Company’s statement of comprehensive loss was as follows:

For the Six Months Ended December 31, 2017
Statement of Comprehensive Loss	Amounts Previously Reported			Adjustment			As Revised
Net loss	$	(2,283,000	)	$	(487,000	)	$	(2,770,000	)
Other comprehensive loss:
Foreign currency translation adjustments		(5,000	)		--			(5,000	)
Comprehensive loss		(2,288,000	)		(487,000	)		(2,775,000	)
Comprehensive loss attributable to non-controlling interests		(487,000	)		--			(487,000	)
Comprehensive loss attributable to common stockholders	$	(1,801,000	)	$	(487,000	)	$	(2,288,000	)