SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

December 31, 2015 21:54 ET

SelectCore has Refiled Its Q1 and Q2 2015 Financial Statements on SEDAR

TORONTO, ONTARIO--(Marketwired - Dec. 31, 2015) -

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SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE:SCG) announces that it has updated and re-filed its Q1 2015 and Q2 2015 interim financial statements. Changes to the revised statements can be summarized as follows:

Q1 - 2015

  1. A/R, and with it revenue, have been adjusted downwards by $222,778.
  2. Inventory has been adjusted upwards by $167,084. Net loss for Q1 has been increased by $55,694.

Q2 - 2015

  1. A/R, and with it revenue, have been adjusted downwards by $447,670.
  2. Inventory has been adjusted upwards by $335,750. Net loss Year-To-Date for Q2 has been increased by $111,920.

The Company feels that the above changes better reflect the Company's financial position from a technical perspective as it prepares for year end. None of the adjustments above relate to any write-down of assets.

The applicable updates and re-filings have been made on SEDAR as of today.

About SelectCore

Established in 1999, SelectCore is a leading prepaid financial services provider and transaction processor for under-banked and underserved markets. From prepaid mobile top-up to stored-value cards and remittance solutions, SelectCore services a market of millions of under-banked consumers through its technology platforms and extensive retail distribution network. SelectCore is a publicly traded company listed on the TSX Venture Exchange under the symbol "SCG" (TSX VENTURE:SCG). SelectCore was ranked by Profit100 as one of Canada's fastest-growing companies in 2006, 2007, 2009 and 2010. SelectCore was also ranked one of North America's fastest growing companies on Deloitte's 2011 Technology Fast 500.

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