​

As previously 

​

​

​

​

​

reported

​

Adjustments

​

Restated

​

​

$

$

$

Statement of financial position

​

​

​

As of December 31, 2020

​

Property and equipment

​

7,250,846

346,144

7,596,990

Goodwill

​

18,647,498

(17,437,545)

1,209,953

Intangible assets

​

20,741,249

(19,736,335)

1,004,914

Total Assets

​

53,785,449

(36,827,736)

16,957,713

Deferred tax liability

​

4,166,946

(3,291,521)

875,425

Total Liabilities

​

12,543,145

(3,291,521)

9,251,624

Reserves

​

1,788,051

(33,900,850)

(32,112,799)

Accumulated deficit

​

(9,526,614)

358,766

(9,167,848)

Capital and reserves attributable to owners of Genius Group Ltd

​

40,991,019

(33,542,084)

7,448,935

Non-controlling interest

​

251,285

5,869

257,154

Total Stockholder’s Equity.

​

41,242,304

(33,536,215)

7,706,089

Total Liabilities and Stockholder’s Equity

​

53,785,449

(36,827,736)

16,957,713

As of December 31, 2019

​

Goodwill

​

9,988,857

(8,778,904)

1,209,953

Intangible assets.

​

6,165,712

(5,243,333)

922,379

Total assets

​

31,582,385

(14,022,237)

17,560,148

Deferred tax liability

​

1,317,779

(581,134)

736,645

Total liabilities

​

12,810,585

(581,134)

12,229,451

Reserves

​

(323,067)

(13,521,337)

(13,844,404)

Accumulated deficit

​

(6,130,926)

80,234

(6,050,692)

Capital and reserves attributable to owners of Genius Group Ltd

​

18,771,800

(13,441,103)

5,330,697

Total Stockholder’s Equity

​

18,771,800

(13,441,103)

5,330,697

Total Liabilities and Stockholder’s Equity

​

31,582,385

(14,022,237)

17,560,148

Statement of profit or loss and other comprehensive income

​

For the year ended December 31, 2020

​

Cost of Revenue

​

(4,703,841)

569,733

(4,134,108)

Gross profit

​

2,929,935

569,733

3,499,668

Loss from Operations

​

(3,250,582)

569,733

(2,680,849)

Loss Before Income Tax

​

(3,692,802)

569,733

(3,123,069)

Income tax benefit (expense)

​

216,086

(285,331)

(69,245)

Net (loss)

​

(3,476,716)

284,402

(3,192,314)

Non-controlling interest

​

(63,065)

5,869

(57,196)

Total Comprehensive (loss)

​

(1,347,635)

284,402

(1,063,233)

Basic and diluted earnings (loss) per share from continuing operations

​

(0.27)

0.02

(0.25)

For the year ended December 31, 2019

​

Cost of Revenue

​

(5,120,969)

96,667

(5,024,302)

Gross profit

​

4,828,088

96,667

4,924,755

Loss from Operations

​

(1,135,540)

96,667

(1,038,873)

Loss Before Income Tax

(1,215,676)

96,667

(1,119,009)

Income tax benefit (expense)

(94,877)

(16,433)

(111,310)

Net (loss)

(1,310,553)

80,234

(1,230,319)

Total Comprehensive Income (loss)

(1,618,725)

80,234

(1,538,491)

Basic and diluted earnings (loss) per share from continuing operations.

(0.15)

0.01

(0.14)

Statement of changes in equity

For the year ended December 31, 2020

Non-controlling interest.

251,285

5,869

257,154

Reserves

1,788,051

(33,900,850)

(32,112,799)

Accumulated losses

(9,526,614)

358,766

(9,167,848)

Total Equity

41,242,304

(33,536,215)

7,706,089

For the year ended December 31, 2019

Reserves.

(323,067)

(13,521,337)

(13,844,404)

Accumulated deficit

(6,130,926)

80,234

(6,050,692)

Total Equity

18,771,800

(13,441,103)

5,330,697

Statement of cash flows

For the year ended December 31, 2020

Net loss

(3,476,716)

284,402

(3,192,314)

Amortization of deferred tax liability

(166,396)

97,588

(68,808)

Deferred tax liability

(49,691)

187,743

138,052

Depreciation and amortization

2,140,326

(569,733)

1,570,593

Total adjustments to reconcile net loss to net cash used in

operating activities.

1,349,503

(284,402)

1,065,101

For the year ended December 31, 2019

Net loss before income tax

(1,310,553)

80,234

(1,230,319)

Amortization of deferred tax liability

(16,433)

16,433

—

Depreciation and amortization

1,358,775

(96,667)

1,262,108

Total adjustments to reconcile net loss to net cash used in operating activities

24,913

(80,234)

(55,321)