News Focus
News Focus
Followers 244
Posts 55847
Boards Moderated 12
Alias Born 04/12/2001

Re: Robsct post# 1286

Monday, 02/02/2009 3:22:17 PM

Monday, February 02, 2009 3:22:17 PM

Post# of 1593
In preparing the financial statements for the quarter ended March 31, 2008, the Company determined that it had recorded excess revenue during the year ended December 31, 2007.

As the result of this error, we are restating our financial statements ("The Restatement") and associated disclosures to reduce revenues.

The error resulted in the over statement of and a corresponding understatement of net loss by $241,932, for the year ending December 31, 2007.

The restatement impacted certain line items within cash flows from operations, but had no effect on total cash flows from operations and did not impact cash flows from financing or investing activities.

The restatement also affected Note 7.

Labwire Inc · 10-12G/A · On 12/23/08
http://www.secinfo.com/d191h4.t15.htm?Find=operating&Line=2740#Line2740

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today