SPYR Inc (SPYR)

[RandyKCMO]

8-15-2018 NEWS... AUDITED AND REVISED 10-K.

EXPLANATION...
1. New Independent Auditing Firm Completed their initial audit.

2. Lawsuit with Zakeni Limited has been settled so anticipated legal expenses reduced and terms recorded.

OR in their words....


"EXPLANATORY NOTE:

"This Amendment No. 1 on Form 10-K/A amends the Registrants Form 10-K filed on April 2, 2018 with the Securities and Exchange Commission. Amendment No. 1 is being filed to provide a new audit report and financial statements. The new audit report and financial statements are necessary due to the resignation and withdrawal of the audit report by our previous independent auditor and the engagement of a new independent auditor.

"In connection with the new audit, the following financial statements and Form 10-K/A for the year ended December 31, 2017 have been amended to record the settlement of the previously disclosed legal proceedings between SPYR, Inc. and Zakeni Limited. This restatement is not due to any material misstatement or departure from GAAP. This restatement is due to the new audit being completed subsequent to the litigation settlement date and the requirements of ASC 855 regarding the effects of subsequent events on items existing at the reporting date. See note 10 to the consolidated financial statements for more details."

Full 10-K

https://ih.advfn.com/p.php?pid=nmona&article=78072878