CoinAnalyst Corp. Announces Intent to File an Amended and Restated Q1 Financial Statements

Toronto, Ontario–(Newsfile Corp. – July 4, 2022) – CoinAnalyst Corp. (CSE: COYX) (FSE: 1EO) (the “Company“) announces that the previously issued financial statements for the three months period ended March 31, 2022 and the corresponding management’s discussion and analysis will be amended and restated. The amendments made to the December 31, 2021 statement of financial position will result in the restatement and reissuance of the financial statements for the period ended March 31, 2022 (the “Amended Statements“) and the corresponding amended and restated management’s discussion and analysis (together with the Amended Statements, the “Restated Documents“).

The amendments made to the December 31, 2022 statement of financial position will affect certain reporting items in the interim financial statements for the three months ended March 31, 2022. The Restated Documents will be restated to disclose the economic and business realities of the Company for the three-month period ended March 31, 2022.

The delay in distributing this amended information was created as a result of a change in auditor and a busy audit season. Additionally, the delay was caused by the full comprehensive review that was undertaken. This review reanalysed the financial results due to a different interpretation of the accounting policies, which was concurrent with the change in auditors of the Company.

In connection with the filing of the Restated Documents, the Company will also be filing CEO and CFO certifications in compliance with National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings.

Until the re-filing of such Restated Documents and the corresponding senior officers’ certification has occurred, investors should not rely upon the accuracy of the March 31, 2022 interim financial statements and the corresponding management’s discussion and analysis.

For more information, please contact:

Andrew Sazama
Chief Operating Officer and Director
Email: [email protected]
Phone: + 49 69 2648485 – 20

Forward Looking Statements

This news release contains forward-looking statements relating to the expected filing of the Restated Documents and related officers’ certification. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

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