iBio Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Disclosure of Prior Period Financial Statement Error

Disclosure of Prior Period Financial Statement Error

12 Months Ended

Jun. 30, 2020

Disclosure of Prior Period Financial Statement Error

Disclosure of Prior Period Financial Statement Error

24. Disclosure of Prior Period Financial Statement Error

The Company revised previously issued condensed consolidated financial statements as of March 31, 2020 and for the three- and nine-month periods ended March 31, 2020 for an error related to the omission of a share issuance completed during the period (Note 3). A summary of revisions to our previously reported financial statements presented herein for comparative purposes is included below:

Revised Consolidated Balance Sheets

Consolidated balance sheet


	March 31, 2020
(In thousands)	As Reported		Adjustment		As Revised
Subscription receivable	$	—	$	2,190	$	2,190
Total current assets		10,304		2,190		12,494
Total Assets		42,220		2,190		44,410
APIC		150,774		2,190		152,964
Total equity		3,957		2,190		6,147
Total liabilities and equity		42,220		2,190		44,410

Revised Consolidated Statement of Operations


	Three Months Ended
	March 31, 2020
	As Reported		Adjustment	As Revised
Loss per common share attributable to iBio, Inc. stockholders – basic and diluted	$	(0.06)	0.00	(0.06)
Weighted-average common shares outstanding – basic and diluted (000’s)		79,719	290	80,009


	Nine Months Ended
	March 31, 2020
Loss per common share attributable to iBio, Inc. stockholders – basic and diluted	$	(0.74)	0.00	(0.74)
Weighted-average common shares outstanding – basic and diluted (000’s)		47,018	96	47,114