SOURCE: Axios Mobile Assets Corp.

Axios Mobile Assets Corp.

March 04, 2016 15:07 ET

Axios Announces Review of Accounting Policies and Financial Disclosure

MISSISSAUGA, ON--(Marketwired - Mar 4, 2016) - Axios Mobile Assets Corp. (TSX VENTURE: AXA) (OTCQB: AXBSF) ("Axios" or the "Company") announced today that it is reviewing certain of its accounting policies relating to its interim financial statements for the periods ended March 31, 2015, June 30, 2015 and September 30, 2015 as well as the disclosure contained in its associated management's discussion and analysis for such periods. 

While it is too early to determine the precise amounts or effect of the issues that are under review, the preliminary review indicates that they are material to certain items within the financial statements including, without limitation, the Company's revenue. However, at this time, the Company does not believe that such issues will have a material impact on the Company's year to date net income. The Company and its advisors intend to work expeditiously to conclude the review, determine the nature and scope of any issues identified and finalize any related disclosures.

The Company will provide updates on its affairs in accordance with its obligations under Canadian securities laws and as its review progresses.

About Axios Mobile Assets

Axios Mobile Assets Corp. is a supply chain logistics company. Axios is becoming a key supplier of pooled pallets primarily in the perishable food category. The Axios Solution includes proprietary tracking and information systems that deliver actionable data that helps improve supply chain visibility and food safety. The Axios Solution is gaining market acceptance based on its unique attributes: lower total cost, lighter weight, sanitary pallets, and real time data.

Further information concerning the Company can be found at www.axiosma.com and www.sedar.com.

Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the timing of the review of the accounting policies and the timing of the filing of any updated disclosure documents. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's Management's Discussion and Analysis for the period ended September 30, 2015 under the heading "Risk Factors", a copy of which is filed on SEDAR at www.SEDAR.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

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Contact Information

  • CONTACT:
    Richard MacDonald
    President & CEO
    Email Contact
    877-762-9467 x601

    Peter Murray
    Shareholder Contact
    Email Contact
    778-839-8382