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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Futuref Regs | LSE:FFU | London | Ordinary Share | COM STK USD0.0001 (REG S) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8907A FutureFuel Corp 26 July 2007 26 July 2007 FUTUREFUEL CORP. Non-Reliance on Previously Issued Financial Statements FutureFuel Corp. (the "Company") has been informed by its independent public accountants KPMG LLP ("KPMG") that, notwithstanding its Report of Independent Public Accountants issued on April 23, 2007, a copy of which is published in the Company's 2006 Annual Report, the Company's annual financial statements for the year ended December 2006 have not been prepared in accordance with U.S. Generally Accepted Accounting Principles. Based upon the previous recommendations of KPMG, the Company applied "reverse acquisition" accounting to the October 31, 2006 acquisition of Eastman SE, Inc ("Eastman SE"). It is now KPMG's opinion that the Company should have applied "purchase" accounting in relation to the acquisition of Eastman SE and therefore the Company's previously issued financial statements are not in conformity with the U.S. Generally Accepted Accounting Principles. The Company issued consolidated financial statements with its 2006 Annual Report, including its consolidated balance sheets as at December 31, 2006 and 2005 and its consolidated statements of operations, statements of cash flows and statements of changes in stockholders' equity for each year of the three-year period ended December 31, 2006. In addition, included in Amendment No. 1 to the Form 10 Registration Statement filed on June 23, 2007 with the U.S. Securities and Exchange Commission pursuant to Section 12(g) of the U.S. Securities Exchange Act of 1934, as amended, the Company included (i) its consolidated balance sheets as of March 31, 2007; (ii) its consolidated statements of operations for the three months ended March 31, 2007; and (iii) its consolidated statements of cash flows for the three months ended March 31, 2007. These financial statements should no longer be relied upon. The Company has therefore requested that trading of its ordinary shares and warrants on AIM be suspended immediately until the Company is able to restate and issue its financial statements and apply purchase accounting to such acquisition. At this stage, the Company is unable to assess whether its restated financial statements will differ materially from those previously published. Further announcements will be made when appropriate. Enquiries: Lee Mikles, CEO FutureFuel Corp. +1 805 565 9800 Matt Goode / Daniel Harris KBC Peel Hunt Ltd (Nominated Adviser) +44 20 7418 8900 This information is provided by RNS The company news service from the London Stock Exchange END MSCSESEFISWSELW
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