TORONTO, ONTARIO--(Marketwired - Dec. 31, 2015) -
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION TO U.S. NEWS WIRE SERVICES.
SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE:SCG) announces that it has updated and re-filed its Q1 2015 and Q2 2015 interim financial statements. Changes to the revised statements can be summarized as follows:
Q1 - 2015
- A/R, and with it revenue, have been adjusted downwards by $222,778.
- Inventory has been adjusted upwards by $167,084. Net loss for Q1 has been increased by $55,694.
Q2 - 2015
- A/R, and with it revenue, have been adjusted downwards by $447,670.
- Inventory has been adjusted upwards by $335,750. Net loss Year-To-Date for Q2 has been increased by $111,920.
The Company feels that the above changes better reflect the Company's financial position from a technical perspective as it prepares for year end. None of the adjustments above relate to any write-down of assets.
The applicable updates and re-filings have been made on SEDAR as of today.
About SelectCore
Established in 1999, SelectCore is a leading prepaid financial services provider and transaction processor for under-banked and underserved markets. From prepaid mobile top-up to stored-value cards and remittance solutions, SelectCore services a market of millions of under-banked consumers through its technology platforms and extensive retail distribution network. SelectCore is a publicly traded company listed on the TSX Venture Exchange under the symbol "SCG" (TSX VENTURE:SCG). SelectCore was ranked by Profit100 as one of Canada's fastest-growing companies in 2006, 2007, 2009 and 2010. SelectCore was also ranked one of North America's fastest growing companies on Deloitte's 2011 Technology Fast 500.