Appreciated Media Holdings (TSX.V: AMH) (OTCQB: AMEFF) has filed its financial statements and management’s discussion and analysis (“MD&A”) for the year ended June 30, 2020, as well as for the interim periods ended Sept. 30, 2020, and Dec. 31, 2020. In addition, the company announced that in connection with the preparation of its annual financial statements, an error had been identified in the annual financial statements for the year ended June 30, 2019; the statements should have recorded a secured loan and an unsecured loan receivable. The error resulted in an understatement of liabilities of $354,974 as well as incorrect assets of $336,500 and a net comprehensive loss of $18,474. Those errors have been corrected, and the company has restated each of the affected financial statement line items. The corrections have been made in conjunction with a restructuring designed to simplify Appreciated Media’s balance sheet, including removing assets that were offset entirely by associated liabilities. The company is now up-to-date with its continuous disclosure obligations. Appreciated has also applied to the British Columbia Securities Commission (“BCSC”) for the revocation of the cease trade order issued against the company because it had failed to file the required annual financial statements, MD&A and associated officer certificates for the year ended June 30, 2020.
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About Appreciated Media Holdings Inc.
Appreciated Media is a multifaceted entertainment company based in Vancouver. The Appreciated Media team is extremely well versed in a variety of entertainment delivery platforms and is fast becoming a top-tier entertainment company. For more information about the company, please visit www.AppreciatedMedia.com.
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