ARHT Media Inc V.ART

RE:New Press Release - ARHT Media Re-Files its Q2-2022 Financial Statements to correct comparative periods in the Statement of Changes in Equity

[Maxmoe]

Been there done that. It's maddening to have the OSC decide to "make an example of you" to create a precedent for how they interpret disclosure requirements. No way they'd pull this total waste of everyone's time on a bank or Shopify or some other large cap stock even though whatever ridiculous technical reporting requirements they want changed are very commonplace. They pick on little guys like art because they can. They threaten to halt trading which they would not try pulling on a big company armed to defend itself. It's maddening but you suck it up and play the game. I once had an OSC clown on tape, witnessed by our audit firm, saying, and I quote verbatim "I don't care what the GAAP requirements are, this is what I want". His boss disagreed with him weeks later after we wasted many hours of our time and ran up the billable hours with the auditor and our securities lawyer. It's cheaper and faster to just go along, no matter how stupid the "request", which the art cfo knew, or figured out.

PressRelease wrote:

TORONTO, Aug. 12, 2022 (GLOBE NEWSWIRE) -- ARHT Media Inc. ("ARHT" or "the Company") (TSXV:ART), (OTCQB:ARHTF) announces that it has restated and refiled its interim financial statements (“Q2 2022 Interim Financial Statements”) for the three and six month period ended June 30, 2022, in order to...read article.