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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Karel Capital Corp. | TSXV:KRL.P | TSX Venture | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
Karel Capital Corporation ("Karel" or the "Company") (TSX VENTURE:KRL.P), a capital pool company announces that it has re-filed its Unaudited Financial Statements and accompanying Management Discussion and Analysis for the quarter ended December 31, 2009 in connection with accounting discrepancies discovered by the Company. Upon discovery of such discrepancies, the Company took steps to quantify the extent of any incorrect financial reporting, to discover the cause thereof, and to correct any problems and prevent future misstatements. In addition to disclosure adjustments, the Company determined that there was an error in the accrued liabilities and deposits. The correction of these errors resulted in a decrease of operating expenses and net loss by $6,599, an increase in cash of $6,195, a reduction of deposits by $352 and a reduction of accrued liabilities by $45. The previously filed interim financial statements for the quarter ended December 31, 2009 should not be relied upon. About Karel Capital Corporation Karel Capital Corporation is a capital pool company as defined by the Policy. The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets of businesses and, once identified and evaluated, to negotiate an acquisition or participation subject to receipt of shareholder approval and acceptance for filing by the Exchange. KAREL CAPITAL CORPORATION Cameron Schuler
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