ARHT Media Re-Files its Q2-2022 Financial Statements to correct comparative periods in the Statement of Changes in Equity
TORONTO, Aug. 12, 2022 — ARHT Media Inc. (“ARHT” or “the Company”) (TSXV:ART), (OTCQB:ARHTF) announces that it has restated and refiled its interim financial statements (“Q2 2022 Interim Financial Statements”) for the three and six month period ended June 30, 2022, in order to correct the comparative periods in its Statement of Changes in Equity. The Statement of Changes in Equity has been amended to include the corresponding interim period in the immediately preceding year, June 30, 2021, rather than the twelve months ended December 31, 2021.
The changes had no impact on the Company’s net income, earnings per share, net change in cash during the period, cash position, or statements of income.
This press release is being made at the request of the Ontario Securities Commission pursuant to a review by the OSC staff. The refiled documents are available on SEDAR at www.sedar.com.
About ARHT Media
ARHT Media’s patented HoloPresence technology is a complete end-to-end solution that creates a sense of presence for audiences – as though the holographic presenter was actually live in the room. With no noticeable latency, ARHT Media makes two-way live communication with a 3D holographic presenter anywhere in the world possible. We can also playback pre-recorded content and 3D animations on our HoloPresence displays to deliver rich holographic experiences. Add to this our capability to stream the same content online on our premium Virtual Global StageTM.
For more information, please visit www.arhtmedia.com or contact the investor relations group at email@example.com.
ARHT Media trades under the symbol “ART” on the Toronto Venture Stock Exchange.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, disclosure related to the Company’s sales funnel; the Company’s technology; the potential uses for the Company’s technology; the future planned events using the Company’s technology; the future success of the Company; the ability of the Company to monetize the ARHT Media technology; the development of the Company’s technology; and interest from parties in ARHT’s products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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