Brief: Peeks Social To Restate Interim Financial Statements For Three Months Ended May 31

Keek Social

27/08/2019 14:15

Aug 27 (Reuters) - Peeks Social Ltd  PEEK.V :
    * PEEKS SOCIAL LTD - INTENDS TO AMEND AND RESTATE ITS
INTERIM
FINANCIAL STATEMENTS (Q1) FOR THREE MONTHS ENDED MAY 31, 2019
    * PEEKS SOCIAL LTD - FOR Q1, COMPANY ACCOUNTED FOR PRIOR
ACQUISITION OF PERSONAS.COM (COMPLETED MAY 2018) USING IFRS 10
(MERGER)
    * PEEKS SOCIAL LTD - DURING COURSE OF AUDIT FOR YEAR ENDED
FEBRUARY 28, CONCLUSION WAS MADE THAT IFRS 3 WAS APPROPRIATE
TREATMENT
    * PEEKS SOCIAL LTD - COMPANY WILL NEED TO ACCOUNT FOR
PURCHASE OF
PERSONAS.COM AT FAIR VALUE AT DATE OF ACQUISITION
    * PEEKS SOCIAL LTD - MAY NEED TO RECOGNIZE GOODWILL
    * PEEKS SOCIAL LTD - A FINAL DETERMINATION WILL BE MADE ONCE
AUDIT
HAS BEEN COMPLETED.
    * PEEKS SOCIAL LTD - RESTATEMENT WILL NOT AFFECT INCOME
STATEMENT
FOR Q1, FOR FISCAL YEAR ENDED FEBRUARY 29, 2020
    * PEEKS SOCIAL - EXPECTS WILL BE IN POSITION TO REFILE Q1
FINANCIAL STATEMENTS IN DUE COURSE FOLLOWING COMPLETION OF AUDIT
FOR FISCAL YEAR ENDED FEB 28

Source text for Eikon:  ID:nGNX1PgvkD 
Further company coverage:  PEEK.V 

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