Certive Solutions Inc.

Certive Solutions Inc.

March 25, 2015 13:41 ET

Certive Solutions Inc. Re-Files Q2 2014 Financial Statements

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 25, 2015) - Certive Solutions Inc. ("Certive" or the "Company") (CSE:CBP)(FRANKFURT:5CE) reports that its audit committee and board of directors have decided to re-file amended and restated financial statements and MD&A for the six months ended November 30, 2014 (the "Amended Filing").

The Amended Filing will be revised to correct the balance sheet as at November 30, 2014, to correct the misallocation of two asset acquisitions from goodwill to intangibles. Additionally, the statement of cash flows ("SCF") will be revised to remove unpaid portions of the purchase price from the SCF, in accordance with IAS 7.

This news release has been prepared and disseminated pursuant to section 11.5 of National Instrument 51-102.


Van Potter, President, CEO, Director

About Certive Solutions Inc.

Certive Solutions Inc. (Scottsdale, Arizona) provides revenue cycle management solutions to U.S. hospitals, delivered collaboratively, utilizing proprietary workflow document management and analytics technologies tailored to health care business processes. Certive is currently focused on the denied claim segment of revenue cycle management. Certive's solutions enhance the efficiency and effectiveness of denied claims recovery in a revenue sharing relationship that improves hospitals' net operating results.


This press release contains forward-looking statements. These statements relate to future events or future performance and reflect our expectations and assumptions regarding our growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect our current beliefs and are based on information currently available to us. In some cases, forward-looking statements can be identified by terminology such as "may", "would", "could", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts. The forward-looking statements in this press release include, among others, statements regarding our future operating results, economic performance and product development efforts, and statements in respect of:

  • our third quarter fiscal plans;
  • our projected financial position and estimated cash burn rate;
  • our requirement for, and our ability to obtain, future funding on favorable terms or at all;
  • our potential sources of funding;
  • our assessment of the benefits of our technology to customers;
  • our plans to market, sell and distribute our technology;
  • our expectations with respect to future corporate alliances and acquisitions.

A number of factors could cause actual events, performance or results, including those in respect of the foregoing items, to differ materially from the events, performance and results discussed in the forward looking statements.

Factors that could cause actual events, performance or results to differ materially from those set forth in the forward-looking statements include, but are not limited to:

  • the effect of continuing operating losses on our ability to obtain, on satisfactory terms, or at all, the capital required to remain a going concern;
  • the ability to obtain sufficient and suitable financing to support operations, development and commercialization of our services;
  • the risks associated with the development of our technology;
  • the risks associated with the increase in operating costs from additional development costs and increased staff;
  • the timing and nature of feedback from customers; and
  • our ability to successfully compete in our targeted markets.

Although the forward-looking statements contained in this press release are based on what we consider to be reasonable assumptions based on information currently available to us, there can be no assurance that actual events, performance or results will be consistent with these forward-looking statements, and our assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release. Forward-looking statements made in this press release are made as of the date of the original document and have not been updated by us except as expressly provided for in this press release. As required by securities legislation applicable to reporting issuers, it is our policy to update, from time to time, forward-looking information in our periodic management discussions and analyses and provide updates on our activities to the public through the filing and dissemination of news releases and material change reports.

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