Business
UrAsia Energy changes to year ended December 31
UrAsia Energy changes to year ended December 31.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nTrading Symbol (TSXV: UUU and AIM: UUU)\n\n\nVANCOUVER, Dec. 22 /CNW/ - UrAsia Energy Ltd. (the \"Company\" or \"UrAsia\")\nreports that in accordance with the requirements of Section 4.8(2) of National\nInstrument 51-102, the Company has decided to change its year end from its\ncurrent year end date of July 31 to December 31. The reasons for the change to\na year ended December 31 are as follows:\n\n\n - The Company's operations are in the form of joint ventures. The joint\n ventures prepare financial reports based on a fiscal period ending\n December 31; the accounts of the joint ventures are consolidated with\n the accounts of UrAsia Energy Ltd. for financial reporting purposes.\n Currently the periods required for UrAsia's reporting based on a\n July 31 year end do not match the periods prepared by the joint\n ventures resulting in a complicated internal financial reporting\n system. Having co-terminus fiscal periods would streamline the\n consolidation and reporting process and make it more efficient.\n\n - UrAsia is a participant in a small but competitive field; most of its\n competitors file financial reports based on a fiscal year end of\n December 31. It would be more meaningful for UrAsia's shareholders\n and investors to be able to compare financial results with other\n companies in the same industry, for the same reporting periods; this\n parity can be achieved by changing UrAsia's fiscal year end to\n December 31.\n\nThe following table sets forth the length of the periods, the ending date\nof the periods, including the comparative periods, and filing deadlines for\nthe Company's interim and annual financial statements to be filed during its\ntransition year and its new financial year.\n\n-------------------------------------------------------------------------\nPeriod and Length Filing Deadlines as Comparative\nEnding Date Prescribed under Section Period and\n 4.2 and 4.4 for the Ending Date\n Issuer's Transition Year\n-------------------------------------------------------------------------\nFor quarter 3 months January 2, 2007 3 months\ninterim statements ended\nfor the period October 31,\nended October 31, 2005\n2006\n-------------------------------------------------------------------------\nAudited financial 5 months April 30, 2007 12 months\nstatements for ended\nthe period ended July 31,\nDecember 31...