Diamond Fields Files Amended and Restated Q3 Financial Statements

About this update from Dfr Gold Inc

[{"type":"text","content":"Diamond Fields Files Amended and Restated Q3 Financial Statements(via Thenewswire.ca)\n \n \nVancouver, Canada / TNW-ACCESSWIRE / July 24, 2014 -- Diamond Fields International Ltd. (DFI:TSX) (\"DFI\" or the \"Company\") announces that as a result of a review by the British Columbia Securities Commission (\"BCSC\") , we are issuing the following press release to clarify our disclosure. \n\n\n \nThe Financial Statements for the nine months ended March 31, 2014 (\"Interim Financial Statements\") required correction of some comparatives, accounting policies and disclosures and which in aggregate are regarded as material. Consequently, the Financial Statements for the nine months ended March 31,2014 has been amended and restated (\"Amended and Restated Financial Statements) . \n\n \n \nThe material revisions made to the \"Interim Financial Statements March 14\" are as follows:\n\n\n \n\n\n(a)Comparative comprehensive loss for the three and nine months ended March 31, 2013 as shown in the \"Interim Financial Statements March 14\" has been respectively amended from $214,264 to $ 227,264 and from $478,419 to $491,419. The comparative comprehensive accumulated deficit and shareholders' equity as at March 31, 2014 have been respectively corrected from $55,813,780 and $793,812 to $55,826,780 and $806,812. \n\n\n\n\n \nThe comparative figures for three and nine months period net loss, non-cash interest payment, borrowings and cash at beginning and end of period disclosed in the condensed consolidated interim statement of cash flows of the \"Interim Financial Statements March 14\" were also corrected to agree with corresponding amounts disclosed in the Interim financial Statements for the nine months ended March 31, 2013 filed on SEDAR.\n\n\n \n\n\n(b)The Company updated Note 5(l), summary of significant accounting policies for accounting standards adopted during the period and Note 5(m) , accounting standards not yet effective. The Company has evaluated the arrangement of Atlantis II project under the criteria within IFRS 11 and has concluded that the arrangement is not jointly controlled. The evaluation is disclosed in note 5(l), note 5(m) and note 12 of the Amended and Restated Financial Statements. \n\n\n\n(c) The Company provided a discussion of the changes in convertible debentures from July 1, 2013 to March 31, 2014 and disclosed the ...

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