Vancouver, B.C. - TheNewswire – November 26, 2021. Plank Ventures Ltd. (CSE:PLNK) (CNSX:PLNK.CN) (“Plank” or the “Company”) announces it has filed amended and restated unaudited condensed consolidated interim financial statements for the six and nine month periods ended January 31, 2021 and April 30, 2021.
The Company previously announced on November 24, 2021 that it would be filing Amended and Restated Interim Financial Statements and corresponding Amended and Restated Management Discussion and Analysis to adjust the revenue and cost of revenue for prize fulfilment for Laughton Marketing Communications, Inc. dba US Sweepstakes and Fulfillment Company (“US Sweeps”). The Company had determined that US Sweeps was acting as an agent when it provides prize fulfillment services to its clients, and therefore should account for prize fulfillment income on a net basis consistent with IFRS 15. The Company notes that the above adjustments resulted in no change to the amounts of gross profit or net income reported for any of the periods.
The Amended and Restated Interim Financial Statements and corresponding Amended and Restated Management Discussion and Analysis are available on SEDAR at www.sedar.com. The Amended and Restated Interim Financial Statements and corresponding Amended and Restated Management Discussion and Analysis replace and supersede, in entirety, the respective previous interim financial statements and accompanying management discussion and analysis for the six and nine month periods ended January 31, 2021 and April 30, 2021 (collectively, the “Previous Documents”). The Previous Documents should no longer be relied upon.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of Plank are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Plank are those risks described herein and from time to time, in the filings made by Plank with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com under the profiles of Plank.
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