Asura Development Group, Inc.(fka IAGI)

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IA Global Announces Delayed Filing of Form 10-Q and NYSE AMEX Deficiency Notice
http://www.yachtchartersmagazine.com/node/1077303
By: Business Wire
Aug. 19, 2009 04:15 PM


IA Global Inc. (NYSE AMEX:IAO) (the “Company”) announced that it would not be able to file its Form 10-Q for the three months ended June 30, 2009 as required by August 19, 2009. This delay is due to the late filing of its Form 10-K, which the Company expects to file on August 21-28, 2009, and the late and incomplete receipt of June 30, 2009 financial records for Global Hotline and Taicom Securities Co Ltd. The Company expects to file the Form 10-Q on approximately September 3, 2009.

Preliminary Results for the Three Months Ended June 30, 2009

Preliminary results for the three months ended June 30, 2009, before any potential audit adjustments related to the filing of the Form 10-K for the twelve months ended March 31, 2009, are as follows:
Total assets- $29-$33 million as of June 30, 2009
Total liabilities- $26-$27 million as of June 30, 2009
Total stockholder equity- $3-$6 million as of June 30, 2009
Sales- $11-$13 million for the three months ended June 30, 2009
Net loss- $1-$2 million for the three months ended June 30, 2009

Additional details will be provided with the filing of the Form 10-Q for the three months ending June 30, 2009. The financial results are subject to adjustment.