Schedule of impacts of the financial statements |
Consolidated Statement of Comprehensive Loss
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Year Ended December 28, 2019
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Year Ended December 29, 2018
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As
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Restatement
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As
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As
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Restatement
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As
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Reported
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Adjustments
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Restated
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Reported
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Adjustments
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Restated
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Income tax (benefit) expense
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$
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(5,370)
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$
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(17,907)
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$
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(23,277)
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$
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2,070
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$
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(10,960)
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$
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(8,890)
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Net loss
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(103,386)
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17,907
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(85,479)
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(69,641)
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10,960
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(58,681)
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Comprehensive loss
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(97,836)
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17,907
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(79,929)
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(80,694)
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10,960
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(69,734)
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Consolidated Balance Sheets
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Year Ended December 28, 2019
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Year Ended December 29, 2018
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As
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Restatement
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As
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As
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Restatement
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As
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Reported
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Adjustments
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Restated
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Reported
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Adjustments
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Restated
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Goodwill(1)
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$
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819,077
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$
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(3,227)
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$
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815,850
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$
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803,847
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$
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(3,227)
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$
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800,620
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Total Assets
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2,441,210
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(3,227)
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2,437,983
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2,431,470
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(3,227)
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2,428,243
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Deferred tax liabilities
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196,437
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(32,094)
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164,343
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200,696
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(14,187)
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186,509
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Total liabilities
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2,096,108
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(32,094)
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2,064,014
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1,992,363
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(14,187)
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1,978,176
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Accumulated deficit
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(176,217)
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28,867
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(147,350)
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(72,831)
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10,960
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(61,871)
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Total stockholder’s equity
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345,102
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28,867
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373,969
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439,107
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10,960
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450,067
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Total liabilities and stockholder’s equity
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2,441,210
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(3,227)
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2,437,983
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2,431,470
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(3,227)
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2,428,243
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(1)
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The Company incorrectly established a valuation allowance on deferred taxes related to the interest limitations from the MinuteKey and Big Time Products acquisitions in 2018 during purchase accounting through goodwill. The correction of the error resulted in a reduction of goodwill of $1,160 for MinuteKey and $2,067 for Big Time Products.
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Consolidated Statements of Cash Flows
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Year Ended December 28, 2019
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Year Ended December 29, 2018
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As
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Restatement
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As
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As
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Restatement
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As
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Reported
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Adjustments
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Restated
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Reported
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Adjustments
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Restated
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Cash flows from operating activities:
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Net loss
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$
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(103,386)
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$
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17,907
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$
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(85,479)
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$
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(69,641)
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$
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10,960
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$
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(58,681)
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Deferred income taxes
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(5,679)
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(17,907)
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(23,586)
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394
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(10,960)
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(10,566)
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Net cash provided by operating activities
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$
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52,359
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$
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—
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$
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52,359
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$
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7,547
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$
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—
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$
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7,547
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