DAVIDsTEA Announces Restatement of Previously Issued Interim Financial Statements to Reflect Unrecorded Non-Cash Impairment Charges as Well as a Reduction in Amortization Expenses
DAVIDsTEA Inc. (DTEA)
Last davidstea inc. earnings: 12/7 04:01 pm
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Source: GlobeNewswire
Announces a Delay in Filing of its Third Quarter Financial Results MONTRÉAL, Dec. 18, 2019 (GLOBE NEWSWIRE) -- DAVIDsTEA Inc. (Nasdaq:DTEA), a leading tea merchant and expert in North America, today announced that its Board of Directors, following the recommendation of the its Audit Committee, is restating its previously-issued interim condensed consolidated financial statements for the quarterly periods ended May 4, 2019 and August 3, 2019 to reflect the restatement resulting from an error in monitoring IAS 36 impairment triggers post-adoption of IFRS 16, Leases and a change in the elections applied upon initial adoption of IFRS 16, Leases on February 3, 2019. The previously filed unaudited condensed interim consolidated financial statements for the quarterly periods ended May 4, 2019 and August 3, 2019 should no longer be relied upon. The Company is filing today with the United States Securities and Exchange Commission a Form 8-K containing additional information about the resta
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