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Eddy Smart Home Solutions Ltd. (formerly Aumento Capital VIII Corp.) Announces its Intention to Restate its Financial Statements and MD&A
Eddy Smart Home Solutions Ltd. (formerly Aumento Capital VIII Corp.) Announces its Intent...
About this update from Eddy Smart Home Solutions Ltd.
[{"type":"text","content":"\n \n \n \n Eddy Smart Home Solutions Ltd. (formerly Aumento Capital VIII Corp.) Announces its Intention to Restate its Financial Statements and MD&A\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Eddy Smart Home Solutions Ltd. (formerly Aumento Capital VIII Corp.) Announces its Intention to Restate its Financial Statements and MD&A\n \n \n Canada NewsWire\n \n \n \n \n NO IMPACT ON CASHFLOWS AND BUSINESS OPERATIONS\n \n \n \n \n TORONTO\n \n \n ,\n \n \n Aug. 19, 2022\n \n \n /CNW/ - Eddy Smart Home Solutions Ltd. (formerly Aumento Capital VIII Corp.) (\"Eddy\" or the \"Company\") (TSXV: EDY) today announced that after revisiting its interpretation and application of certain technical accounting standards related to non-cash consideration provided to a developer and customer (the \"Developer\") through an amended exclusive supplier agreement dated\n \n December 15, 2021\n \n (the \"Addendum\"), it will restate and refile its consolidated financial statements for the year ended\n \n December 31, 2021\n \n , which were originally filed on SEDAR on\n \n May 6, 2022\n \n , the condensed consolidated interim financial statements for the three months ended\n \n March 31, 2022\n \n , which were originally filed on\n \n May 30, 2022\n \n , relevant comparative periods, and the related management's discussion and analysis (\"MD&A\") for those periods (collectively, the \"Affected Disclosures\").\n \n \n \n \n \n \n \n \n \n On\n \n December 15, 2021\n \n , the Eddy Smart Home Solutions Inc. entered the Addendum with the Developer to amend an exclusive supplier agreement originally entered into in\n \n January 2019\n \n . Pursuant to the Addendum, Eddy Smart Home Solutions Inc. was obligated to issued to the Developer 1,453,767 common shares and 1,900,000 common share purchase warrants of the Company (the \"RTO Securities\") contingent on the successful completion of the Company's reverse takeover transaction (the \"RTO Transaction\") which was achieved on\n \n January 12, 2022\n \n . In addition, the Company agreed to issue 750,000 common shares of the Comp...