As a result, Bakkt revised its balance sheet as of December 31, 2020, including, among other changes, additional paid-in capital that was reduced from $9,860,338 to nil, an accumulated deficit that ballooned from $4,861,190 to $29,250,419, and total shareholders' equity of $5,000,009 that swung to a total shareholders' deficit of $29,249,901. On this news, Bakkt's share price fell an additional 4.7%. Finally, on November 22, 2021, a little over a month after Bakkt had assured investors that it had successfully remediated its defective financial controls, Bakkt disclosed that it would have to restate certain of its previously issued financial statements because of errors related to the misclassification of certain shares issued prior to the business combination.