Posted On: 12/09/2015 6:27:37 PM
Post# of 22465
Craig Lindberg CFO getting QMC House in order
Item 4.02. Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
The restatements primarily involve accounting for certain debt and equity financing transactions. The aggregate effect of the restatements on net loss for the quarters ended December 31, 2014 and March 31, 2015 are a decrease of $1,426,975 (a net gain of $247,335 rather than a net loss of $1,179,640) and an increase of $362,408 (a net loss of $1,132,669 rather than a net loss of $770,261) respectively, as compared to the amounts previously reported for those periods. The cumulative effect on the net loss for the nine months ended March 31, 2015 is a decrease of $1,065,356 (a net loss of $980,183 rather than a net loss of $2,045,539).
Item 4.02. Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
The restatements primarily involve accounting for certain debt and equity financing transactions. The aggregate effect of the restatements on net loss for the quarters ended December 31, 2014 and March 31, 2015 are a decrease of $1,426,975 (a net gain of $247,335 rather than a net loss of $1,179,640) and an increase of $362,408 (a net loss of $1,132,669 rather than a net loss of $770,261) respectively, as compared to the amounts previously reported for those periods. The cumulative effect on the net loss for the nine months ended March 31, 2015 is a decrease of $1,065,356 (a net loss of $980,183 rather than a net loss of $2,045,539).
(0)
(0)
