Brief: FC Global To Restate Annual Report On Form 10-K For Period Ending Dec. 31, 2017

Gadsden Properties

11/05/2018 22:19

May 11 (Reuters) - FC Global Realty Inc  FCRE.O :
    * FC GLOBAL REALTY - CO DETERMINED TO RESTATE ITS ANNUAL
REPORT ON
FORM 10-K FOR PERIOD ENDING DECEMBER 31, 2017
    * FC GLOBAL REALTY INC - DISCOVERED AN ERROR IN ITS
REPORTING OF
VALUE OF AN ASSET ACQUIRED DURING 2017
    * FC GLOBAL REALTY SAYS VALUATION ERROR HAS IMPACT ON CO'S
PREVIOUSLY RELEASED FINANCIAL RESULTS FOR FY 2017 - SEC FILING
    * FC GLOBAL REALTY - EXPECTS CORRECTION OF ERROR WILL RESULT
IN CO
REPORTING INCREASE OF $577,000 IN LOSS REPORTED FOR FY 2017
    * FC GLOBAL REALTY - DETERMINED THERE WAS DEFICIENCY IN
INTERNAL
CONTROL OVER FINANCIAL REPORTING THAT CONSTITUTES MATERIAL
WEAKNESS AT DEC 31, 2017
    * FC GLOBAL REALTY - DETERMINED THAT THERE WAS A DEFICIENCY
IN
CONTROL REGARDING IDENTIFICATION AND VALUATION OF ASSETS
ACQUIRED IN 2017
    * FC GLOBAL REALTY INC - REMEDIATING MATERIAL WEAKNESS BY
IMPLEMENTING PROCESS OF ENHANCED, MULTI-STAGE REVIEW OF
IDENTIFICATION, AMONG OTHERS

Source text: (https://bit.ly/2jO9nmC)
Further company coverage:  FCRE.O 

 ((Reuters.Briefs@thomsonreuters.com;))