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Posted On: 12/09/2024 3:20:44 PM
Post# of 25
NetworkNewsBreaks – Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) Adjusts 2023 Financial Statements, Reduces Reported Net Loss
Trillion Energy (CSE: TCF) (OTCQB: TRLEF) has reissued its 2023 consolidated financial statements to correct a classification error, reducing its net loss for the year to $43,842 from the previously reported $1,102,194. The adjustment stems from a foreign exchange loss on intercompany accounts, which under IAS 21 should have been recorded as other comprehensive loss rather than net loss. Despite changes to several financial statement line items, the company confirmed the adjustments have no impact on cash flows or the overall financial position. Quarterly statements for Sept. 30, 2024, remain unaffected.
NOTE TO INVESTORS: The latest news and updates relating to TRLEF are available in the company’s newsroom at https://nnw.fm/TRLEF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Trillion Energy (CSE: TCF) (OTCQB: TRLEF) has reissued its 2023 consolidated financial statements to correct a classification error, reducing its net loss for the year to $43,842 from the previously reported $1,102,194. The adjustment stems from a foreign exchange loss on intercompany accounts, which under IAS 21 should have been recorded as other comprehensive loss rather than net loss. Despite changes to several financial statement line items, the company confirmed the adjustments have no impact on cash flows or the overall financial position. Quarterly statements for Sept. 30, 2024, remain unaffected.
NOTE TO INVESTORS: The latest news and updates relating to TRLEF are available in the company’s newsroom at https://nnw.fm/TRLEF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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