Globally Local Announces Financial Statement Update

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[{"type":"text","content":"\n \n \n \n Globally Local Announces Financial Statement Update\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 \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n June 14, 2021\n \n /CNW/ - Globally Local Technologies Inc., (the \"Company\") (TSXV: GBLY) the parent company ‎of Globally Local, one of the world's first vegan fast-food chains, announced today ‎that it has filed amended and restated interim financial statements for the interim period ‎ended\n \n March 31\n \n , 2021.‎\n \n \n \n \n \n \n \n \n \n It was determined by Globally Local's management that the original financial statements ‎for the second quarter ended\n \n March 31, 2021\n \n contained inter-company sales and cost of ‎goods sold of\n \n $53,188\n \n that were not properly eliminated. The net result is a reduction of ‎both revenue and cost of goods sold, with no resulting impact on net loss and ‎comprehensive loss.‎\n \n \n Management had previously relied on outsourced accounting services but determined in ‎the June that it was necessary to enhance the controls over financial reporting and bring ‎the processes in house.‎\n \n \n The Amended Financial Reports will be available under the Company's profile on SEDAR ‎at\n \n www.sedar.com\n \n . Each of the Amended Financial Reports replace and supersede the ‎respective previously filed original financial. Such previously filed original financial ‎statements should be disregarded.\n \n \n ‎\n \n About Globally Local Technologies Inc.\n \n \n \n Globally Local is a plant-based food technology company that manufactures and distributes industry-leading plant-based protein and dairy alternatives using locally sourced and sustainable ingredients. The company distributes its products through a proprietary food service line to company owned and franchised fast-food restaurant locations. Globally Local restaurant locations operate as smart kitchens, which use state-of-the art cooking technology and automation solutions t...

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