Revision of Prior Year Immaterial Misstatement
|3 Months Ended|
Mar. 31, 2022
|Accounting Changes and Error Corrections [Abstract]|
|Revision of Prior Year Immaterial Misstatement||
Note 4 – Revision of Prior Year Immaterial Misstatement
During the quarter ended March 31, 2022, the Company identified a certain error in recording its majority interest for Krypto Ventures, Inc. during the year ended December 31, 2021. This error resulted in decreasing its non-controlling interest and retained earnings by $66,650.
The Company assessed the materiality of this error considering both qualitative and quantitative factors and determined that for both the respective quarters and fiscal year ended December 31, 2021, the error was immaterial. The Company has decided to correct this error as revisions to our previously issued financial statements and will adjust the Form 10-K when filed in succeeding periods of this fiscal year.
The table below present the impact of the revision in the Company’s condensed consolidated financial statements.
Schedule Of Revision in Financial Statements
The entire disclosure for reporting error correction.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef