New Stratus Energy Files Amended Financial Statements and Announces Board and Management Changes
CALGARY, Alberta, Nov. 12, 2019 (GLOBE NEWSWIRE) — New Stratus Energy Inc. (TSX.V – NSE) (“New Stratus” or the “Corporation“) has filed amended and restated consolidated financial statements and MD&A for the year ended March 31, 2019, and for the first quarter ended June 30, 2019, which are available under the Corporation’s profile on SEDAR at www.sedar.com. These consolidated financial statements and MD&A, as initially reported, have been amended and restated to correct for expenses and liabilities that were understated as a result of the recent receipt of supplier invoices related to the year ended March 31, 2019. These invoices were not fully accrued and will result in an increase in general and administrative expense and accrued payables of $230,888. In addition, the Corporation has included as a subsequent event another invoice received from a supplier related to year ended March 31, 2019. The Corporation has requested supporting documentation from the supplier and has included it as a contingent liability in the financial statements.