DIAGNOS Inc.
TSX VENTURE : ADK
OTCQB : DGNOF

DIAGNOS Inc.

August 28, 2017 15:34 ET

DIAGNOS Announces Restatement of March 31, 2017 Financial Statements which Resulted in a Decrease in Expenses of $2,491,096

BROSSARD, QUEBEC--(Marketwired - Aug. 28, 2017) - DIAGNOS Inc. ("DIAGNOS" or "the Corporation") (TSX VENTURE:ADK)(OTCQB:DGNOF), a leader in early detection of critical health issues through the use of its FLAIRE platform based on Artificial Intelligence (AI), announces today the refiling of the March 31, 2017 annual filings comprised of the restated March 31, 2017 annual financial statements and the restated annual Management Discussion and Analysis as well as the restated 2017 annual report.

After the initial release, on June 20, 2017, of the March 31, 2017 consolidated financial statements, the Corporation determined that the conversion options embedded in the secured convertible debentures and the stock warrants issued during the fiscal years ended March 31, 2016 and March 31, 2017 should have been classified as equity upon initial recognition. The impacts of such adjustments for the year ended March 31, 2017 are reflected in the restated March 31, 2017 consolidated financial statements filed on August 28, 2017. The Corporation previously reported a comprehensive loss of $5,306,378 and a basic diluted comprehensive loss per share of $0.04 for the year ended March 31, 2017. The restatement resulted in a comprehensive loss of $2,815,282 and a basic diluted comprehensive loss per share of $0.02 for the same year. The variance in comprehensive loss of $2,491,096 is detailed as follows:

Year ended March 31, 2017
$
Reversal of change in fair values of conversion options (2,195,109 )
Reversal of change in fair values of warrants (84,133 )
Adjustment to interest expense (211,854 )
(2,491,096 )

About DIAGNOS

Founded in 1998, DIAGNOS is a publicly traded Canadian corporation with a mission to commercialize our Artificial Intelligence technology combining contextual imaging and traditional data mining thereby improving decision-making processes. DIAGNOS offers products, services, and solutions to clients in healthcare.

Additional information is available at www.diagnos.ca and www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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