02:57:51 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



VidWRX Inc
Symbol VID
Shares Issued 73,903,532
Close 2016-01-11 C$ 0.07
Market Cap C$ 5,173,247
Recent Sedar Documents

VidWRX refiles Q3 results to add non-GAAP disclosure

2016-01-11 21:01 ET - News Release

Mr. George Fleming reports

VIDWRX INC. FILES AMENDED AND RESTATED Q3 FINANCIAL STATEMENTS

VidWRX Inc. has filed amended and restated financial statements and management's discussion and analysis for the period ended Sept. 30, 2015. The third quarter financial statements and management's discussion and analysis have been amended following completion of a review of these materials by the B.C. Securities Commission.

Among other changes, the amended and restated Q3 financial statements and MD&A have been revised to provide additional disclosure on the derivation of non-generally accepted accounting principle financial measures used by the company and to provide additional comparative disclosure on these measures to previous periods. Additional disclosure in the MD&A has also been included to reference the company's use of proceeds in previous financing transactions and to itemize related-party transactions. The materials have also been revised to clarify certain figures following completion of a review of the Q3 financial statements by the company's auditor.

The forgoing discussion provides a summary only, and readers are encouraged to review the amended and restated Q3 financial statements and MD&A in their entirety under the company's profile on SEDAR.

In addition, the company also announces that it has issued a total of 323,449 shares in lieu of cash compensation to certain consultants (two of whom are also directors) of the company for work completed in December, 2015. The shares are being issued at a deemed price of six cents per share, being the closing share price of the company's shares on Dec. 31, 2015. The shares are also subject to a four-month-and-one-day hold period as required by Canadian securities laws. The compensation arrangement for the issuance of shares in lieu of cash was approved by the company's shareholders on Sept. 4, 2015.

We seek Safe Harbor.

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