Mr. David Ingram reports
GOEASY LTD. REFILES ITS 2017 AND Q1 2018 FINANCIAL STATEMENTS AND MD&A TO RECLASSIFY CERTAIN ITEMS IN ITS CASH FLOW STATEMENTS
goeasy Ltd. has refiled its financial statements, and management's discussion and analysis (MD&A) for the year ended Dec. 31, 2017, and the three-month period ended March 31, 2018. The amended financial statements and MD&A reclassified certain line items on the company's statements of cash flows from cash used in investing activities to cash used in operating activities. The reclassifications had no impact on the company's net income, earnings per share, net change in cash during the period, cash position, statements of income or statements of financial position.
The refiling was made in connection with a continuous disclosure review of the company's disclosure filings by the Ontario Securities Commission. The refiled documents are available on SEDAR and on the company's website.
Specifically, the line item "net issuance of consumer loans receivable," which had been classified in the company's 2017 cash flow statement as "cash used in investing activities," was reclassified as "cash used in operating activities." Additionally, the line item "purchase of lease assets," which had been classified in the company's 2017 and Q1 2018 cash flow statement as "cash used in investing activities," was reclassified as "cash used in operating activities." In both instances, the reclassification was made to better align these activities with other revenue-generating activities of the company that were included with "cash used in operating activities."
goeasy is a leading full-service provider of goods and alternative financial services that provides everyday Canadians with a chance for a better tomorrow, today. goeasy serves its customers through two key operating divisions,
is a non-prime consumer lender that bridges the gap between traditional financial institutions and costly payday lenders.
is Canada's largest lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores.
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