Intellabridge Technology Corporation: Intellabridge Announces Filing of Revised Condensed Consolidated Interim Financial Statements in Connection with the Filing of the Preliminary Base Shelf Prospectus
Company" or "
Intellabridge") announces that the Company's external auditor has reviewed its Condensed Consolidated Interim Financial Statements (the "
Interim Financial Statements") and management discussion and analysis (the "
MD&A") for the three months ended March 31, 2021 in connection with the filing of the Preliminary Base Shelf Prospectus.
Accordingly, the Company has amended the Interim Financial Statements and MD&A. The amended filings compared with the original filings include the deletion of the no review by auditor and minor textural changes and corrections. Additionally, the financial results previously reported by the Company have been restated to appropriately reflect the loss recognized on settlement of debt and the gain on revaluation of digital currencies. The net loss for the period ended March 31, 2021 has changed from the previously reported amount of $105,451 to $1,570,445. This loss on settlement of debt is a non-cash transaction and not a cash expenditure. The loss in no way effected the Company's operating budget.