EasyMed Services Inc.
CNSX : EZM
OTCBB : EMYSF
MUN : EY6

EasyMed Services Inc.

November 26, 2013 22:40 ET

EasyMed Re-Files Financial Statements and MD&A

TORONTO, ONTARIO--(Marketwired - Nov. 26, 2013) - Easymed Technologies Inc. (CNSX:EZM)(OTCBB:EMYSF)(MUN:EY6) (the "Company" or "EasyMed ") announces that it has amended and re-filed its management discussion and analysis (the "MD&A") for the year ended October 31, 2012 and interim period ended April 30, 2013, and condensed consolidated interim financial statements for the nine months ended July 31, 2013 in response to comments from the BCSC. The amendments are mainly related to increase the amount of information provided and to clarify inconsistences in these documents. Significant amendments to the MD&A are as follows:

Six months
ended
April 30,
2013
Year ended
October 30,
2012
A table has been added to the section "Forward Looking Statements" to disclose the material assumptions used to develop significant forward-looking statements and material risk factors that could cause actual results to differ materially from the forward looking statements. X X
Sections of "Overall Market Trend", "Company's Products", "Research and Development Cost" and "Outlook" have been added to the Amended 2012 MD&A to enable readers to understand the Company's outlook, corporate development, and product development with more details. X X
"Selected Quarterly Information" - more disclosure has been added to explain the significant quarter to quarter movements within the past eight recent quarters. X X
Result of the Year Ended October 31, 2012 - A breakdown of the Company's operating expenses by nature in fiscal 2012 and 2011 has been added with analysis of the year to year movement have been added N/A X
"Three Months Ended October 31, 2012" - A breakdown of the Company's operating expenses by nature in the fourth quarter of 2012 and 2011 has been added with analysis of the year to year movement have been added N/A X
"Result of the Six months ended April 30, 2013 period" - A breakdown of the Company's operating expenses by nature in the six months ended April 30, 2013 with analysis of movement has been added X N/A
A section of "Three months ended April 30, 2013" has been added to provide more details of the Company's operating activities happened during the three months ended April 30, 2013. X N/A
"Related Party Transaction" - a breakdown of the fees charged by key management have been added. X X
Information relating to the Company's share capital, warrant, options have been updated to October 1, 2013, the date of the Amended MD&A X X
The Company changed its name to Easymed Technologies Inc. and its registered office address commencing October 18, 2013 X X
The Company consolidated its issued and outstanding shares on a 5-1 basis on October 18, 2013. The presentation of number of outstanding shares, warrants, options, and loss per share have been updated to reflect this 5-1 share consolidation X X

Significant amendments to the consolidated interim financial statements for the nine months ended July 31, 2013 are as follows:

  • An explicit and unreserved statement of compliance with IAS 34 has been added to the statement of compliance in Note 2 (Basis of Presentation)
  • Factors that indicate the existence of a material uncertainty that cast significant doubt about the Company's ability to continue as a going concern have been added to Note 2 (Basis of Presentation)
  • Outstanding balance of various related party loan as at October 31, 2012, and the amount of accrued interest in connection with related party loan as at October 31, 2012 and July 31, 2013 have been added to the Note 5 (Related Party Transaction)
  • A breakdown of remuneration paid to key management during the reporting periods have been added to Note 5 (Related Party Transaction)
  • Disclosure about the assumptions used in Black-Scholes Option Pricing Model in order to establish stock based compensation incurred during nine months ended July 31, 2013 have been added in Note 4 (Share Capital)
  • Disclosure of the CHF equivalent of various loan denominated in foreign currencies have been added to the Note 9 (Commitment)
  • Note 11 (Subsequent events) has been added to disclose the Company's name change, change of office, and 5-1 share consolidation commenced on October 18, 2013.

ON BEHALF OF THE BOARD

Jared Scharf, CFO & Director

About Easymed Technologies Inc.

Easymed Technologies Inc. (CNSX:EZM)(OTCBB:EMYSF)(MUN:EY6) is a global medical information technology company delivering a end to end patient care solution through mobile phone/PDA and server technologies offering specialized services and applications for healthcare, insurance and pharmaceutical industries. We are committed to world class customer service and the protection of our clients' information. For more information, visit www.easymedmobile.com.

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. These forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

These securities have not and will not be registered under the United States Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is available to be relied upon. This news release does not constitute an offer of securities for sale in the United States.

The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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