Financial statements – Church Of God Anonymous http://churchofgodanonymous.org/ Tue, 28 Jun 2022 19:31:46 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://churchofgodanonymous.org/wp-content/uploads/2021/06/icon-2021-06-25T213907.443.png Financial statements – Church Of God Anonymous http://churchofgodanonymous.org/ 32 32 EU agreement on corporate sustainability reporting directive reached https://churchofgodanonymous.org/eu-agreement-on-corporate-sustainability-reporting-directive-reached/ Tue, 28 Jun 2022 19:17:46 +0000 https://churchofgodanonymous.org/eu-agreement-on-corporate-sustainability-reporting-directive-reached/ INTRODUCTION On June 21, 2022, the European Parliament (Parliament) and the Council of the European Union (Council) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).1 As of June 27, 2022, the agreed text has yet to be made public. The CSRD proposal, first presented by the European Commission (the Commission) on […]]]>

INTRODUCTION

On June 21, 2022, the European Parliament (Parliament) and the Council of the European Union (Council) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).1 As of June 27, 2022, the agreed text has yet to be made public.

The CSRD proposal, first presented by the European Commission (the Commission) on 21 April 2021, provides for the adoption of EU-wide sustainability reporting standards and aims to revise and strengthen the rules set out already in 2014 in the directive on non-financial reporting. (NFRD).2 The new proposal follows Parliament’s request to extend the scope of the NFRD beyond public interest entities. In addition, the evidence gathered by the Commission revealed shortcomings in the current non-financial reporting framework, which makes it difficult for investors and other stakeholders to compare publicly available information, resulting in a lack of accountability of reporting companies.

With the new proposal, the European Union aims to achieve more comprehensive and meaningful sustainability reports that not only include information on climate-related topics, but also on other issues such as biodiversity, social rights and human rights, taking non-financial reporting to a new level.

SCOPE OF THE CSRD

The new reporting requirements will apply to all large companies (listed and unlisted), i.e. companies with more than 250 employees and 40 million euros in turnover, as defined in the accounting directive.3

The new rules will also apply to listed small and medium-sized enterprises (SMEs). Following Parliament’s proposal, an opt-out clause has been introduced in the proposed text, allowing SMEs in the scope to opt out of CSRD requirements until 2028.

Non-European companies will also be in the scope of the CSRD. In particular, non-EU companies with at least one subsidiary or branch and generating an annual net turnover of €150 million will be subject to the new EU reporting requirements. Non-EU companies will also benefit from a transitional period before the rules come into full effect.

With respect to corporate groups, while parent companies will be responsible for reporting relevant information and evaluating information from their subsidiaries and branches, the corporate group will be required to submit a single consolidated report.

AUDIT OF THE SUSTAINABILITY REPORT

The CSRD provides that sustainability information to be disclosed by covered companies will need to be independently audited and certified by an accredited independent auditor or certifier, just like financial information. This obligation effectively results in matching the level of materiality between the two types of reporting, ensuring that companies will comply with the reporting standards adopted at EU level and provide reliable, transparent and comparable data. Extra-financial reporting will be included in the so-called management report, which will contain all the information subject to audit.

In the initial proposal, the Commission proposed that the assurance of sustainability should be carried out by the statutory auditor or the audit firm, arguing that this would contribute to consistency between financial and non-financial auditing. However, under the interim agreement, the audit of non-financial information will also be open to other auditors and assurance providers, provided they obtain non-financial audit certification.

The accreditation process for non-financial auditors and assurance providers will be conducted at the national level. In addition, Member States will also set requirements to ensure the quality of the assurance engagement carried out by independent assurance service providers; the requirement should also ensure consistent results in ensuring sustainability reporting.

The European Financial Reporting Group (EFRAG) will be the authority in charge of setting up European sustainability reporting standards. Standards will build as much as possible on already existing international standardization initiatives and relevant EU policies. EFRAG is expected to publish some first general standards in early summer 2023 and standards for companies in specific sectors are expected to be published in June 2024.

CONCLUSION

The CSRD sets a precedent for sustainability reporting, broadening the scope to include not only environmental topics, but also social and human rights, biodiversity and work ethics. In addition, for the first time, financial and non-financial reporting are considered equally important.

Reporting must be carried out in accordance with the new European sustainability reporting standards put in place by EFRAG. The information provided by the companies will then be audited by independent and certified auditors.

In terms of timing, the application of the new requirements will take place in three different phases. Reporting will come into effect on January 1, 2024 for companies already within the scope of the NFRD. For companies not previously subject to the NFRD, the new reporting obligations will come into effect on January 1, 2025. Finally, for listed SMEs, the obligations will come into force on January 1, 2026.

Next steps:

The Parliament and the Council must formally approve the provisional agreement, after which the CSRD will be published in the Official Journal of the EU. It will enter into force 20 days after its publication and its provisions will have to be transposed into the national legislation of the Member States within 18 months.

Paula Esteban Gómez also contributed to this article.


FOOTNOTES

1 Proposal for a directive of the European Parliament and of the Council amending Directive 2013/34/EU, Directive 2004/109/EC, Directive 2006/43/EC and Regulation (EU) No 537/2014, as regards corporate sustainability reports.

2 Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards the disclosure of non-financial information and information on diversity by certain large companies and certain groups.

3 Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC.

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PA’s top court to decide if open case law applies https://churchofgodanonymous.org/pas-top-court-to-decide-if-open-case-law-applies/ Mon, 27 Jun 2022 02:01:22 +0000 https://churchofgodanonymous.org/pas-top-court-to-decide-if-open-case-law-applies/ In November 2020, a Bucks County resident requested financial and legal records from PIAA under Pennsylvania’s Right to Know Act PIAA replied that the law did not apply to her The state’s Commonwealth Court ruled against the PIAA; The state Supreme Court has agreed to hear the case The state’s highest court will determine whether […]]]>

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NCLT Mumbai launches CIRP against GIT Textiles https://churchofgodanonymous.org/nclt-mumbai-launches-cirp-against-git-textiles/ Sat, 25 Jun 2022 09:00:42 +0000 https://churchofgodanonymous.org/nclt-mumbai-launches-cirp-against-git-textiles/ The National Company Law Court (“NCLT”), Mumbai Bench, consisting of Shri Rohit Kapoor (Judicial Member) and Shri Harish Chander Suri (technical member), when examining an application filed in UCO Bank v GIT Textiles Manufacturing Limitedinitiated the Corporate Insolvency Resolution (“CIRP”) process against GIT Textiles Manufacturing Ltd. for a default that occurred in 2012 and kept […]]]>

The National Company Law Court (“NCLT”), Mumbai Bench, consisting of Shri Rohit Kapoor (Judicial Member) and Shri Harish Chander Suri (technical member), when examining an application filed in UCO Bank v GIT Textiles Manufacturing Limitedinitiated the Corporate Insolvency Resolution (“CIRP”) process against GIT Textiles Manufacturing Ltd. for a default that occurred in 2012 and kept this limitation updated each subsequent year when the debtor company recognized the financial debt in its financial statements.

Background Facts

UCO Bank (“Financial Creditor”) had sanctioned credit facilities in the amount of Rs. 20,41,00,000/- to GIT Textiles Manufacturing Limited (“Debtor Company”) see a letter of sanction dated 16.06.2008 and subsequently, the Credit Facilities were renewed several times. The Debtor Company did not reimburse the Financial Creditor and its account was declared NPA on 30.09.2012.

On 04.04.2019, the financial creditor had filed a petition under section 7 of the Insolvency and Bankruptcy Code 2016 (“IBC”) requesting the initiation of CIRP against the debtor company for a failure to Rs.54,33,52,844.37/-.

Litigation of the debtor company

The Debtor Company argued that the Financial Creditor had resorted to forum shopping because the latter had also brought an action before the Debt Recovery Court for the same cause. It was further argued that the petition was time-barred because the alleged defect and NPA classification occurred on 30.09.2012, while the petition was filed in April 2019. The statute of limitations had already expired on 30.09.2015.

NCLT bench decision

The Chamber observed that the balance sheets of the Debtor Company for the years 2012 to 2019 showed multiple acknowledgments of debt owed to the Financial Creditor by the Debtor Company. The Chamber relied on the judgment of the Supreme Court in Laxmi Pat Surana v Union Bank of India & Anr., where it was found that:

“Section 18 of the Limitation Act, 1963 is drawn at the time of written acknowledgment signed by the party against which such right to initiate resolution proceedings under Section 7 of the Code ensues. section 18 of the Limitation Act would come into play whenever the principal borrower and/or the surety company (debtor company), as the case may be, acknowledges their obligation to pay the debt, but this acknowledgment must be prior to the expiry of the limitation period including the new limitation period due to the acknowledgment of the debt, from time to time, for the institution of the procedure under Article 7 of the Code.”

Also in the judgment of the Supreme Court in Innovative Industries Ltd. against ICICI Bank(2018) 1 SCC 407, it was held that:

“…in the case of a corporate debtor defaulting on a financial debt, the contracting authority need only see the information service records or other evidence produced by the financial creditor to ascertain that a default has occurred. It does not matter whether the debt is disputed as long as it is “due”, i.e. payable unless prohibited by law or is not yet due in the sense that it is payable at a later date.

Further, in Khan Bahadur Shapoor Freedom Mazda vs. Durga Prasad(1962) 1 SCR 140, the Supreme Court held:

“… The words used in the acknowledgment must, however, indicate the existence of a legal relationship between the parties, such as that of debtor and creditor, and it must appear that the declaration is made with the intention of admitting such a legal relationship. This intention may be implicit in the nature of the admission, and need not be expressed in words. If the statement is clear enough, the intention to admit a legal relationship may be The admission in question need not be express, but must be made in circumstances and in terms from which the court can reasonably infer that the person making the admission intended to refer to a liabilities subsisting at the date of the declaration.”

On the basis of these judgements, the panel found that because of the specific admissions of debt by the debtor company, section 18 of the Limitation Act 1963 was applicable and that this resulted in a recalculation of the period limitation period of three years from the date of recognition in each balance sheet. “Given that the last of these admissions was made on 31.03.2019, the statute of limitations would last until 31.03.2022. Thus, the present motion was found to be well within the limits of the statute of limitations.”

The bench ruled that there was a liability and a default and therefore the CIRP was initiated against the debtor company and Mr. Sunil Kumar Agarwal was appointed as the interim resolution professional.

Case title: UCO Bank v GIT Textiles Manufacturing Limited, CP (IB) No 600/KB/2019

For the Financial Creditor: Mr. Rahul Auddy, Mr. Shaunak Mitra, Mr. Aditya Goopty, lawyers.

For the corporate debtor: Mr. Ritesh Agarwal, Mr. Patita Paban Bishwal, lawyers.

Click here to read/download the order

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Banco do Nordeste do Brasil SA: Financial statements – Position 31.12.2021.pdf https://churchofgodanonymous.org/banco-do-nordeste-do-brasil-sa-financial-statements-position-31-12-2021-pdf/ Thu, 23 Jun 2022 19:16:03 +0000 https://churchofgodanonymous.org/banco-do-nordeste-do-brasil-sa-financial-statements-position-31-12-2021-pdf/ SUMMARY ………………………………………….. …………………………………….. MISTAKE ! INDICATOR NÃO DEFINED. MANAGEMENT REPORT………………………………………….. ………………… MISTAKE ! INDICATOR NÃO DEFINED. BANK OF FINANCIAL STATEMENTS……………………………………….. ……. ……….. MISTAKE ! INDICATOR NÃO DEFINED. BALANCE SHEET………………………………………… . ……………………………………….. EMMR! INDICADOR NÃO DEFINIDO. INCOME STATEMENTS ………………………………………. …………………………… EMMR! INDICADOR NÃO DEFINIDO. STATEMENTS OF COMPREHENSIVE INCOME ……………………………………….. ……………….. EMMR! INDICADOR NÃO DEFINIDO. CASH FLOWS […]]]>

SUMMARY

………………………………………….. ……………………………………..

MISTAKE ! INDICATOR NÃO DEFINED.

MANAGEMENT REPORT………………………………………….. …………………

MISTAKE ! INDICATOR NÃO DEFINED.

BANK OF FINANCIAL STATEMENTS……………………………………….. ……. ………..

MISTAKE ! INDICATOR NÃO DEFINED.

BALANCE SHEET………………………………………… . ………………………………………..

EMMR! INDICADOR NÃO DEFINIDO.

INCOME STATEMENTS ………………………………………. ……………………………

EMMR! INDICADOR NÃO DEFINIDO.

STATEMENTS OF COMPREHENSIVE INCOME ……………………………………….. ………………..

EMMR! INDICADOR NÃO DEFINIDO.

CASH FLOWS STATEMENTS ………………………………………….. ….. …………………..

EMMR! INDICADOR NÃO DEFINIDO.

STATEMENTS OF CHANGES IN EQUITY ………………………………… ….. ……

EMMR! INDICADOR NÃO DEFINIDO.

STATEMENTS OF ADDED VALUE ………………………………………. …. …………………

EMMR! INDICADOR NÃO DEFINIDO.

NOTES TO THE SEPARATE FINANCIAL STATEMENTS OF THE BANK ……………

MISTAKE ! INDICATOR NÃO DEFINED.

NOTE 1 – THE BANC AND ITS VSFEATURES………………………………………….. …

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 2-BSITTING FROM PREPAIR AND PPRESENTATION OF IINDIVIDUAL FINANCIAL SSTATEMENTS ….EMMR! INDICADOR NÃO

DEFINED.

NOTE 3 – SSUMMARY OF SIGNIFYING ACOUNT PRACTICS…………………………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 4 – SSEGMENT RTRANSPORT ………………………………………….. …………………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 5-CASHES AND CASH EQUIVALENTS ………………………………………….. ………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 6 – IINTERBANK INVESTMENTS………………………………………….. ………………

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 7 – SSECURITIES AND DERIVATIVE FINANCIAL INSTRUMENTS …………………………

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 8 – IINTERBANK ACCOUNTS -LINKED CREDITS …………………………………………

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 9 – LOAN PORTFOLIO AND PROVISION FOR EXPECTED LOAN LOSSES ……………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 10

-OOTHER CREDITS ………………………………………….. ………………………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 11

-OASSETS ………………………………………….. ………………………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 12

-OTHEIR VALUES AND STRENGTHS ………………………………………….. ………….

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 13

– IINVESTMENTS, TANGIBLE ASSETS AND INTANGIBLE ASSETS……….

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 14

-DDEPOSITSOPEN MMARKET FUNDERFUNDS OF AACCEPTANCE AND IFROM SSECURITIESDEBT

IINSTRUMENTS EELIGIBLE FOR VSAPITAL AND SUNDETERMINED DEBTS ………….

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 15

-BORROWS AND OREADY ………………………………………….. …….

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 16

-FUNDS OF ACCEPTANCE AND ISSUE OF SECURITIES …………………………

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 17

-OTHEIR LCAPABILITIES ………………………………………….. …………………….

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 18

-DEBT INSTRUMENTS ELIGIBLE FOR CAPITAL (NOTE 30.g.II)…………………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 19

– INCOME RRECEIVED IN AADVANCE………………………………………….. ……..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 20

-EQUIT ………………………………………….. ………………………………….

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 21

-OTHEIR OOPERATION INCOME/ECOSTS ………………………………………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 22

-TPRIORITIES AND CONTRIBUTIONS………………………………………….. ………….

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 23

-PPROVISIONSVSONTINGENT ASSETSVSONTINGENT LCAPABILITIES AND LEQUAL OOBLIGATIONS -TAX AND SSOCIAL

SSECURITY………………………………………….. ……………………………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 24

-EEMPLOYEE AND OOFFICE VSREMUNERATION (INOT REAIS)……………………………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 25

-Psound-EUSE BADVANTAGES ………………………………………….. ……..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 26

-PROFIT SHARING (PLR) ……………………………………….. … …………………

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 27

-FTO CANCEL VSINSTITUTIONAL OF FINANCIAMENTO DO NOTORDESTA (FNE)………

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 28

-NOTORTHEEST DDEVELOPMENT FUND (FDNE) ………………………………………….. …

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 29

-WWORKERS‘ AASSISTANCE FUND (BIG)……………………………………….. ….

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 30

-RISK MMANAGEMENT AND BASEL INDEX …………………………………………

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 31

-RENJOYED PARTIES ………………………………………….. ……………………..

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 32

-RCURRENT AND NON-RECURRING PRODUCTS…………………………………………

EMMR! INDICADOR NÃO DEFINIDO.

NOTE 33

-OTHEIR IINFORMATION ………………………………………….. …………………

EMMR! INDICADOR NÃO DEFINIDO.

INDEPENDENT AUDITOR’S REPORT ON THE FINANCIAL STATEMENTS ……

MISTAKE ! INDICATOR NÃO DEFINED.

OPINION OF THE SUPERVISORY BOARD ……………………………………….. ………. …….

MISTAKE ! INDICATOR NÃO DEFINED.

SUMMARY AND CONCLUSIONS OF THE AUDIT COMMITTEE REPORT

……….. MISTAKE ! NÃO INDICATOR

DEFINED.

FNE FINANCIAL STATEMENTS……………………………………….. …………. …………..

MISTAKE ! INDICATOR NÃO DEFINED.

1

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July 26 Deadline in the trial for https://churchofgodanonymous.org/july-26-deadline-in-the-trial-for/ Tue, 21 Jun 2022 15:30:00 +0000 https://churchofgodanonymous.org/july-26-deadline-in-the-trial-for/ SAN DIEGO, June 21, 2022 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. announced that a July 26 deadline is approaching in the lawsuit that was filed for certain investors in LMP Automotive Holdings, Inc. (NASDAQ: LMPX ) shares. Investors who purchased shares of LMP Automotive Holdings, Inc. (NASDAQ:LMPX) prior to June 2021, and who continue […]]]>

SAN DIEGO, June 21, 2022 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. announced that a July 26 deadline is approaching in the lawsuit that was filed for certain investors in LMP Automotive Holdings, Inc. (NASDAQ: LMPX ) shares.

Investors who purchased shares of LMP Automotive Holdings, Inc. (NASDAQ:LMPX) prior to June 2021, and who continue to hold any such NASDAQ:LMPX shares, also have certain options and should contact the Shareholders Foundation at email@shareholdersfoundation.com or call +1(858) 779 – 1554.

On May 27, 2022, a lawsuit was filed against LMP Automotive Holdings, Inc. (for alleged violations of securities laws. Plaintiff alleges that defendants failed to disclose to investors that: investors that the company s engaged in the improper identification and elimination of intercompany transactions, the Company used incorrect estimates of chargeback reserves for financial and insurance products, the Company misclassified certain items in its financial statements that affect the wording of the financial statements of the balance sheet and income statement, that there were material weaknesses in LMP’s internal control over reporting, that, as a result of the foregoing, the Company overstated its income, that, as a result of the foregoing, the Company would restate certain of its previously published financial statements and results, and that, as a result of the foregoing e, Defendants’ positive statements about the company’s business, operations and prospects were material y misleading and/or lacking a reasonable basis.

Those who have purchased shares of LMP Automotive Holdings, Inc. (NASDAQ: LPX) should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Christopher Claussen
+1 (858) 779-1554
mail@foundationshareholders.com
3111 Camino Del Rio North
Office 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional legal portfolio monitoring and claims filing service that researches shareholder issues and advises investors of securities class actions, settlements, judgments and other legal news related to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. All referenced cases, investigations and/or settlements are not filed/initiated/reached and/or related to the Shareholders Foundation. The information is provided as a public service only. It is not legal advice and should not be relied upon.

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SHAREHOLDER ALERT: Pomerantz L – GuruFocus.com https://churchofgodanonymous.org/shareholder-alert-pomerantz-l-gurufocus-com/ Sun, 19 Jun 2022 21:48:23 +0000 https://churchofgodanonymous.org/shareholder-alert-pomerantz-l-gurufocus-com/ NEW YORK, May 30, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in Lyft, Inc. (“Lyft” or the “Company”) (NASDAQ: LYFT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980. The investigation focuses on whether Lyft and certain of its officers and/or directors have engaged […]]]>

NEW YORK, May 30, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in Lyft, Inc. (“Lyft” or the “Company”) (NASDAQ: LYFT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.

The investigation focuses on whether Lyft and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On April 29, 2022post-market, Lyft filed a Form 8-K with the United States Securities and Exchange Commission stating that “[a]s in connection with the preparation of the first quarter 22 consolidated financial statements of Lyft, Inc. [. . .] an error was identified in the accounting for losses ceded under the quota share reinsurance agreement [. . .] with DARAG Bermuda LTD [. . .]under which DARAG reinsured a portfolio of former automobile insurance policies.” The Form 8-K further stated that “[a]result of this error, on April 28, 2022the audit committee [. . .] of Lyft’s Board of Directors, after discussion with Company management, has concluded that Lyft’s consolidated financial statements as of and for the year ended December 31, 2021 – and related audit report of PricewaterhouseCoopers LLP – included in its 2021 Annual Report on Form 10-K [. . .] together with the condensed consolidated financial statements of the Company as at and for the quarter ended September 30, 2021 (and for the nine months then ended) included in its Form Q3’21 10-Q should no longer be relied upon.” Finally, Form 8-K revealed that “[a]As a result of this restatement, Lyft’s management reassessed the effectiveness of the Company’s disclosure controls and procedures and its internal control over financial reporting effective December 31, 2021. Management has concluded that the Company’s disclosure controls and procedures were not effective at the September 30, 2021 and December 31, 2021and its internal control over financial reporting was not effective at December 31, 2021.”

At this news, Lyft’s stock price plummeted. $1.10 per share, or 3.37%, to close at $31.50 per share on May 2, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Parisand Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

favicon.png?sn=DC73201&sd=2022-05-30 View original content for multimedia download: https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-lyft-inc —lyft-301557424.html

SOURCE Pomerantz LLP

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THUNGELA RESOURCES LIMITED – Chief Financial Officer Pre-Closing and Trading Statement for the Six-Month Period Ending June 30, 2022 – SENS https://churchofgodanonymous.org/thungela-resources-limited-chief-financial-officer-pre-closing-and-trading-statement-for-the-six-month-period-ending-june-30-2022-sens/ Mon, 13 Jun 2022 07:00:00 +0000 https://churchofgodanonymous.org/thungela-resources-limited-chief-financial-officer-pre-closing-and-trading-statement-for-the-six-month-period-ending-june-30-2022-sens/ Chief Financial Officer’s Pre-Close and Trading Statement for the six-month period ending 30 June 2022 THUNGELA RESOURCES LIMITED(Incorporated in the Republic of South Africa)Registration number: 2021/303811/06JSE share code: TGALSE share code: TGAISIN: ZAE000296554(‘Thungela’ or the ‘Company’ and together with its affiliates, the ‘Group’) Chief Financial Officer’s Pre-Close and Trading Statementfor the six-month period ending 30 […]]]>
                            

Chief Financial Officer’s Pre-Close and Trading Statement for the six-month period ending 30 June 2022

THUNGELA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2021/303811/06
JSE share code: TGA
LSE share code: TGA
ISIN: ZAE000296554
(‘Thungela’ or the ‘Company’ and together with its affiliates, the ‘Group’)

Chief Financial Officer’s Pre-Close and Trading Statement
for the six-month period ending 30 June 2022

Robust cash generation driven by strong thermal coal fundamentals

Dear Stakeholder

7 June 2022 marked a full year since Thungela’s listing on the JSE and LSE and we are proud that during
this period we have been able to deliver a solid first set of annual financial results. We have also concluded
the distribution of our maiden dividend of R2.5 billion to shareholders and distributed R273 million to the
SACO Employee and Nkulo Community Partnership Trusts.

The Group has seen continued strong earnings and cash generation for the period 1 January 2022 to 31
May 2022 (“year to date”1) driven primarily by the high average Benchmark2 coal price and we are on course
to achieve a strong set of results for the six-months ending 30 June 2022.

Thungela expects to report robust earnings and cash generation for the six-month period ending 30 June
2022 (“H1 2022”), reflecting its ability to mitigate the impact of the continued inconsistent and poor rail
performance by Transnet Freight Rail (“TFR”) which has impacted our ability to deliver export equity thermal
coal to the seaborne market.

The following are key insights into our performance for the year to date and our expectations for H1 2022.

• Demand for thermal coal remained firm at the start of the year as global economic activity
continued to recover from the COVID-19 pandemic. The unfortunate onset of the conflict between
Russia and Ukraine further contributed to tightness in supply and resulted in a refocus on energy
security in Europe and beyond. This tightness, coupled with sanctions on Russia, saw the price of
the energy complex, including thermal coal, escalate rapidly from late February.
• The Benchmark coal price has averaged $266/tonne for the year to date, compared to
$98/tonne in H1 2021 (being the six-month period ended 30 June 2021) but prices have been
extremely volatile with large daily fluctuations in physical prices.
• Discount to the Benchmark coal price has been ~15% for the year to date, compared to 23% for
H1 2021 and 13% in H2 2021, being the six-month period ended 31 December 2021. The discount
for the year to date has widened slightly as a result of a more balanced sales mix compared to H2
2021.
• Export saleable production for H1 2022 is expected to be ~6.1 Mt, which is 14% lower than H1
2021 export saleable production of 7.1 Mt (on a Pro forma3 basis). This is a direct result of actions
implemented to mitigate the impact of reduced and inconsistent TFR rail performance. Steps taken
have included the decision to curtail production where we are able to minimise stranded costs.
• FOB cost per export tonne excluding royalties for H1 2022 is expected to be approximately
R957/tonne, compared to R787/tonne for H1 2021 (on a Pro forma basis). This unit cost is currently
higher than the 2022 full year guidance of R850 to R870 per tonne (excluding royalties). At this stage
we are not restating guidance as the increase in FOB cost per export tonne in H1 2022 is largely
attributable to the denominator impact of the lower export saleable production expected to be
achieved in H1 2022, and higher than planned energy input costs. At the time of writing, the 2022
full-year guidance assumes an improvement in export saleable production in H2 2022. Should export
saleable production improve as expected in H2 2022 the full year 2022 guidance will remain
appropriate.
Including royalties, the FOB cost per export tonne is expected to be R1,124/tonne, compared to
R782/tonne in H1 2021 (on a Pro forma Basis).
• Export equity sales for H1 2022 are expected to be approximately 6.4 Mt, compared to 6.6 Mt
(on a Pro forma basis) in H1 2021, a decrease of 3%.
• Capital expenditure, including sustaining and expansionary capital, for H1 2022 is expected
to be approximately R0.5 billion. Historically capex spend has been higher in the second half of
the year and this is expected to also be the case for 2022.
• Cash flow generation has been robust on the back of strong realised export coal prices. The strong
cash generation has resulted in a net cash position of approximately R15.3 billion on 31 May
2022. Tax and royalty payments relating to H1 2022 will be made in June 2022.
• Earnings per share (“EPS”)4 for H1 2022 is expected to be at least R58.00. This represents an
increase of R54.87 compared to H1 2021 EPS of R3.13. Headline earnings per share (“HEPS”)4
for H1 2022 is expected to be at least R58.00, an increase of R54.95 compared to H1 2021 HEPS of
R3.05.

We are closely monitoring the previously issued export saleable production guidance in light of the
inconsistent TFR rail performance. TFR’s performance for the year to date has been 55 Mt on an annualised
basis for the industry. In order for Thungela to achieve the lower end of the export saleable production
guidance previously issued (14 Mt to 15 Mt), TFR needs to deliver a successful annual maintenance shut in
July 2022 and a step-up in annualised rail performance of approximately 9% for H2 2022 compared to H1
2021 (i.e. a step-up to 60 Mt annualised performance for the industry as envisaged by TFR). TFR
performance is expected to improve following the annual maintenance shut. Notwithstanding the expected
improvement in rail performance, the Group also expects an inventory build-up of approximately 500 kt in H2
2022.

Thungela and the industry continue to engage TFR in order to collaborate in finding solutions to the issues
affecting TFR rail performance which include locomotive unavailability and cable theft in particular, as well
other issues affecting the rail network. Following the SENS/RNS announcement relating to the contractual
arrangements with TFR released on 14 April 2022, discussions with TFR continue in order to clarify the
contractual position of both parties. Thungela also continues to evaluate alternative transport options to
mitigate the impact of poor TFR rail performance.

Notwithstanding the persistent operational challenges posed by the rail constraints, the Board remains
committed to delivering attractive shareholder returns, while maintaining disciplined capital allocation. The
Board continues to believe that in the current economic environment it is appropriate to maintain the liquidity
buffer at the upper end of the range of R5 billion to R6 billion. The special resolution to authorise a share
buyback was not passed at the annual general meeting of shareholders held on 25 May 2022, but
Thungela’s capital allocation policy remains unchanged, and the Board accordingly remains committed to
return additional cash to shareholders above the targeted minimum pay-out ratio of 30% of Adjusted
operating free cash flow5. With this in mind, the Company expects to declare an interim dividend for the six-
month period ending 30 June 2022 at the release of its interim results on or about 15 August 2022.

Deon Smith
Chief Financial Officer

Annexure A: Operational Performance

As disclosed in the Annual financial statements for the year ended 31 December 2021, the Internal
restructure3 had a significant impact on the comparatives presented for 31 December 2020. The Internal
restructure was completed on 31 March 2021, and from that date all operations owned by the Group were
reflected in full. For the six months ending 30 June 2022, the financial statements will reflect the Group as it
is likely to exist on a forward-looking basis and can be compared to the performance of the Group that was
presented on a Pro forma basis for the six months ended 30 June 2021. No additional Pro forma financial
information will be presented for the six months ending 30 June 2022.

Table 1: Export saleable production by operation

Export saleable production H1 2021 H1 2021 Actual H1 2022 Forecast6 % change
Mt Actual Pro Forma (c) (c-b)/b
IFRS (b)
(a)

Underground 5.4 5.4 4.7 -13%
Zibulo 2.6 2.6 2.0 -23%
Greenside 1.7 1.7 1.3 -24%
Goedehoop 1.1 1.1 1.4 27%

Opencast 1.3 1.7 1.4 -18%
Khwezela 0.8 0.8 0.5 -38%
Mafube 0.5 0.9 0.9 –

TOTAL 6.7 7.1 6.1 -14%

Table 2: Export sales by segment

Export sales H1 2021 H1 2022 Forecast6 % change
Mt Actual

Equity sales 6.6 6.4 -3%
Underground 4.8 4.8 –
Opencast 1.8 1.6 -11%

Third party sales 0.9 – –

TOTAL 7.5 6.4 -15%

Footnotes

1) All references in this document to “year to date” refer to the period from 1 January 2022 to 31 May 2022
2) Benchmark price reference for 6,000kcal/kg thermal coal exported from the Richards Bay Coal Terminal
3) The Internal restructure was completed on 31 March 2021 and had an impact on financial and non-
financial information of the Group. Refer to note 2A in the Annual financial statements for the year ended
31 December 2021 at https://www.thungela.com/investors/results for full detail related to the Internal
restructure. Information disclosed on a Pro forma basis for the comparative period reflects the Pro forma
information presented in 2021
4) EPS and HEPS for H1 2022 is based on a WANOS of approximately 133.2 million shares, while EPS
and HEPS for H1 2021 is based on a WANOS of approximately 62.1 million shares.
5) Adjusted operating free cash flow is net cash flows from operating activities less sustaining capex
6) Based on the latest available management forecasts. Final figures may differ by ±5%

Review of Pre-Close and Trading Statement

The information in this Pre-Close and Trading Statement, including the Pro forma information, is the
responsibility of the directors of Thungela Resources Limited and has not been reviewed or reported on by
the Group’s independent auditors.

The Pro Forma financial information has been prepared for illustrative purposes only and because of its
nature may not fairly present the Group’s financial position, changes in equity, results of operations or cash
flows.

Investor Call Details

A conference call and audio webinar relating to the details of this announcement will be held at 12:00 SAST
on Monday 13 June 2022. A recording of the webinar will be made available on the Thungela website from
15:00 on the same date.

Conference Call registration:
https://services.choruscall.za.com/DiamondPassRegistration/register?confirmationNumber=2018246&linkSe
curityString=437aa029a

Audio webinar registration: https://services.themediaframe.com/links/thungela-10042538.html

Disclaimer

This document includes forward-looking statements. All statements other than statements of historical facts
included in this document, including, without limitation, those regarding Thungela’s financial position,
business, acquisition and divestment strategy, dividend policy, plans and objectives of management for
future operations (including development plans and objectives relating to Thungela’s products, production
forecasts and Reserve and Resource positions), are forward-looking statements. By their nature, such
forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Thungela or industry results to be materially
different from any future results, performance or achievements expressed or implied by such forward-looking
statements. The Group assumes no responsibility to update forward-looking statements in this
announcement except as required by law.

The information contained within this announcement is deemed by the Company to constitute inside
information as stipulated under the market abuse regulation (EU) no. 596/2014 as amended by the market
abuse (amendment) (UK mar) regulations 2019. Upon the publication of this announcement via the
regulatory information service, this inside information is now considered to be in the public domain.

Investor Relations
Ryan Africa
Email: ryan.africa@thungela.com

Media Contacts
Tarryn Genis
Email: tarryn.genis@thungela.com

UK Financial adviser and corporate broker
Liberum Capital Limited
Tel: +44 20 3100 2000

Sponsor
Rand Merchant Bank
(a division of FirstRand Bank Limited)

Johannesburg
13 June 2022

Date: 13-06-2022 09:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

]]>
Revival Gold Resumes Drilling of High-Grade Joss Target https://churchofgodanonymous.org/revival-gold-resumes-drilling-of-high-grade-joss-target/ Sat, 11 Jun 2022 13:48:05 +0000 https://churchofgodanonymous.org/revival-gold-resumes-drilling-of-high-grade-joss-target/ This section is Partnership Content Provided The content in this section is provided by GlobeNewswire for the purpose of disseminating news releases on behalf of its customers. Postmedia has not reviewed the content. by GlobeNewswire Breadcrumb Links GlobeNewswire Author of the article: Joss drill targets set for 2022 GNW Content of the article TORONTO, June […]]]>

Content of the article

TORONTO, June 11, 2022 (GLOBE NEWSWIRE) — reliveI
Gold
Inc.
(TSXV:
RVG,
OTCQX:
RVLGF) (“Revival Gold” or the “Company”), is pleased to announce that it has resumed drilling on the high-grade Joss target at the Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, in the USA.

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Approximately 2,000 meters of coring in three holes is planned this summer in Joss. Drilling will focus on the continued definition and expansion of the one kilometer trend of high grade gold mineralization with potential for underground mining and milling. High-grade intersections from the eighteen drill holes previously drilled on the Joss trend generally range from 4 to 11 g/t gold and are estimated to be between 1 and 5 meters in true width (see Revival Gold press release of March 1st, 2021). Drilling will follow BT21 240D which intersected 4.34 g/t gold over 110.6 meters drilled width, including 12 g/t gold over 13.7 meters drilled width and 8.8 g/t d gold over 11.8 meters drilled width (see Revival Gold press release dated December 2n/a2021).

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Once drilling is complete at Joss, the drill will move down Haidee open pit heap leach resource area where approximately 2,000 meters of infill and expansion drilling are planned. Once drilling is complete at Haidee, the drill rig will move to the Roman’s Trench area for the last 1,000 meters of core drilling intended to follow up on historical reverse circulation drilling which intersected 1.90 g/t gold over a drill width of 21 meters and 1.95 g/t gold over a drill width of 18 meters in near-surface oxides (see Revival Gold press release dated March 15e2022).

“2022 marks our fifth and potentially most exciting drilling season at Beartrack-Arnett. We begin with follow-up drilling on the Joss target, a target that has proven to be catalytic for our view of the resource potential of the high-grade underground mill at Beartrack-Arnett. We then move on to Haidee, where the focus is on defining and expanding the existing open pit oxide gold resource, and then Roman’s Trench, which is a new oxide exploration drill target. gold near the surface for Revival Gold,” said Hugh Agro, Revival Gold, President and Chief Executive Officer.

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Core drilling is being done by contractor Major Drilling America, Inc. and is expected to continue through September. A longitudinal section versus thickness showing the approximate locations of planned drill holes at Joss is shown in Figure 1.

Depending on platform availability, Revival Gold has planned an additional 3,000 meters of reverse circulation this year to test various other potential near-surface gold oxide exploration opportunities at Beartrack-Arnett Base. various geochemical and geophysical soil anomalies.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1beb1778-684e-4c29-b4c8-dc320c200c70

Qualified person

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Steven T. Priesmeyer, CPG, Vice President Exploration, Revival Gold Inc., is the Company’s designated qualified person for this press release within the meaning of National Instrument 43-101 Disclosure Standards for Mining Projects and has reviewed and approved its scientific and technical expertise. contents.

About Revival Gold Inc.

Revival Gold Inc. is a growth-oriented gold exploration and development company. The Company is advancing the Beartrack-Arnett gold project located in Idaho, United States.

Beartrack-Arnett is the largest former gold mine in Idaho. Engineering work has been initiated on a Preliminary Feasibility Study (“PFS”) for the potential restart of heap leach operations. Meanwhile, exploration continues, focused on expanding the 2022 Indicated Mineral Resource of 65.0 million tonnes at 1.01 g/t gold containing 2.11 million ounces of gold and inferred mineral resources of 46.2 million tonnes at 1.31 g/t gold containing 1.94 million ounces of gold (see Revival Gold’s press release dated May 16e, 2022 for details). The mineralized trend at Beartrack extends over five kilometers and is open along strike and at depth. Mineralization at Arnett is open in all directions.

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Revival Gold has approximately 86.9 million shares outstanding and a cash balance of C$9.1 million as of March 31, 2022. All figures in this press release are in metric units and US dollars, except otherwise indicated. Additional information, including financial statements, technical reports, press releases and other Company information, may be obtained at www.revival-gold.com or on SEDAR at www.revival-gold.com. sedar.com.

For more information, please contact:

Hugh Agro, President and CEO or Melisa Armand, Investor Relations
Phone: (416) 366-4100 or Email: info@revival-gold.com

Caution

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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Content of the article

This press release contains certain “forward-looking statements” that are not historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words that indicate that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will” or “plans”. Because forward-looking statements are based on assumptions and address future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company does not guarantee that actual results will meet management’s expectations. The risks, uncertainties and other factors involved in forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, mineral resource estimate , exploration and mining development plans, timing of commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the inability to identify mineral resources, the inability to convert estimated mineral resources to reserves, the failure to complete a feasibility study that recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failure to obtain governmental, environmental or other approvals required for projects, political risks, uncertainties related to the availability and costs of financing needed in the future, changes in stock markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of the projects, the costs of investment, operation and rehabilitation varying considerably compared to the est imations and other risks associated with the mining exploration and development industry, an inability to predict and counter the effects of COVID-19 on the Company’s business, including but not limited to effects of COVID-19 on commodity prices, capital market conditions, restrictions on labor and international travel and supply chains, and risks set forth in public company documents. Company filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information contained in this press release are reasonable, undue reliance should not be placed on such information, which speaks only as of the date of this press release, and no assurance can be given that such events will occur within the time frames disclosed or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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IIOT-OXYS, INC. : FD Settlement Disclosure, Financial Statements and Exhibits (Form 8-K) https://churchofgodanonymous.org/iiot-oxys-inc-fd-settlement-disclosure-financial-statements-and-exhibits-form-8-k/ Thu, 09 Jun 2022 15:21:05 +0000 https://churchofgodanonymous.org/iiot-oxys-inc-fd-settlement-disclosure-financial-statements-and-exhibits-form-8-k/ Section 7.01 Disclosure of FD Rules. On June 9, 2022, IIOT-OXYS, Inc.a Nevada corporation (the “Company”), issued a press release announcing the renewal of the employment contracts of the CEO of the Company, Cliff Emmonsand the COO of the Company (now interim CFO), Karen McNemar. A copy of the press release is attached hereto as […]]]>

Section 7.01 Disclosure of FD Rules.

On June 9, 2022, IIOT-OXYS, Inc.a Nevada corporation (the “Company”), issued a press release announcing the renewal of the employment contracts of the CEO of the Company, Cliff Emmonsand the COO of the Company (now interim CFO), Karen McNemar. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. In accordance with the rules and regulations of the
Security and Exchange Commission (the “SEC”), the information contained in this Section 7.01 Disclosure, including Exhibit 99.1, and the information set forth therein, is deemed to have been furnished to, and shall not be deemed to be “filed” with, of the SECOND.

The press release, provided as Exhibit 99.1 to this Form 8-K, may contain forward-looking statements. These forward-looking statements are based on information currently available to the Company’s management and speak only as of the date they are made. Actual results could also differ materially from those anticipated due to a number of factors, including, but not limited to, those discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2021and subsequent reports filed by the Company with the
Security and Exchange Commission (the Commission”). For these reasons, undue reliance should not be placed on forward-looking statements. The Company undertakes no duty or obligation to update or revise any forward-looking statement, although it may from time to time such updates or revisions may be made by the Reporter by filing reports with the Commission, issuing press releases or through other methods of public disclosure.

Section 9.01. Financial statements and supporting documents




(d) Exhibits.



Exhibit No.       Description
99.1                Press Release dated June 9, 2022
104               Cover Page Interactive Data File (embedded within the Inline XBRL
                  document)












  2

© Edgar Online, source Previews

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Synchronoss Technologies in a $12.5 million settlement with the SEC https://churchofgodanonymous.org/synchronoss-technologies-in-a-12-5-million-settlement-with-the-sec/ Tue, 07 Jun 2022 14:45:00 +0000 https://churchofgodanonymous.org/synchronoss-technologies-in-a-12-5-million-settlement-with-the-sec/ By Michel Dabaie Synchronoss Technologies Inc. said it has resolved a U.S. Securities and Exchange Commission investigation regarding the company’s restatement of certain financial data from 2013 through 2016. Cloud, messaging and digital products and platforms company Synchronoss said in 2018 it reaffirmed the transactions at issue in the SEC’s investigation and settlement, neither admitted […]]]>

By Michel Dabaie

Synchronoss Technologies Inc. said it has resolved a U.S. Securities and Exchange Commission investigation regarding the company’s restatement of certain financial data from 2013 through 2016.

Cloud, messaging and digital products and platforms company Synchronoss said in 2018 it reaffirmed the transactions at issue in the SEC’s investigation and settlement, neither admitted nor denied the allegations of the SEC.

As part of the settlement, Synchronoss said it agreed to pay a civil penalty of $12.5 million. The expenses associated with this settlement have already been accounted for in the financial statements, the company said.

Its shares were down 3.2% at $1.52 in morning trading.

The SEC said the allegations relate to long-standing accounting irregularities that unfolded from 2013 to 2017.

In a filing with the SEC in July 2018, Synchronoss said it restated its audited financial statements for the years ended December 31, 2015 and 2016 and restated certain financial data for the years ended 2013 and 2014 totaling approximately $190 million from income.

According to the SEC, Synchronoss admitted that during this period it had incorrectly accounted for numerous transactions and therefore filed with the commission materially misleading financial statements as well as material weaknesses in its internal controls over financial reporting. .

“We are pleased to have reached this settlement with the SEC regarding this legacy matter and look forward to continuing to focus on the company’s strategic growth initiatives,” Chief Executive Officer Jeff Miller said. “This matter relates to historic transactions that the company reformulated nearly four years ago, and Synchronoss believes reaching this resolution now is the right outcome for our shareholders, customers and key stakeholders.”

Write to Michael Dabaie at michael.dabaie@wsj.com

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