As a result of a review by the British Columbia Securities Commission,
Liuyang Fireworks is issuing the following press release to clarify its
fiscal 2012 year-end financial statements disclosure.
TORONTO, July 26, 2013 /CNW/ - Liuyang Fireworks Limited (TSXV: FWK) ("Liuyang" or "the Company") announces, that at the request
of the British Columbia Securities Commission, the Company has today
filed amended its fiscal 2012 year-end financial statements and
accompanying management discussion and analysis ("MD&A"). There are no
material changes to the Company's fiscal 2012 year-end financial
results previously disclosed on October 29, 2012.
The Company changed its fiscal year end from December 31 to June 30 in
2011 to better align the Company's financial reporting and business
cycles to those of its customers and suppliers. Since the transition
year, which is 2011, is less than nine months in length, the Company is
required under Section 4.8(6) of National Instrument 51-102 to include
to its financial statements for June 30, 2012, the financial
information for the short fiscal period ended June 30, 2011 and the
year ended December 31, 2010. The amendment is intended to satisfy the
aforementioned regulatory requirement.
The amended filings also provide further clarification in the notes to
the financial statements and further discussion on the Company's
operations in the MD&A. The amended documents have been filed on SEDAR
About Liuyang Fireworks Limited
Liuyang Fireworks Limited is a leading China-based manufacturer of
fireworks distributed both domestically and within more than 15
countries in North America, South America and Europe. The Company has
more than 17 years of experience in the fireworks industry and is a
supplier to the world's top five fireworks wholesalers and retailers.
Liuyang's ISO9001-certified manufacturing facilities are located in the
Liuyang area of Hunan, China, where more than half of the world's
fireworks are produced.
The forward-looking information contained in this news release
represents the expectations of the Company as of the date of this news
release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward-looking
information and should not rely upon this information as of any other
date. While the Company may elect to, it does not undertake to update
this information at any particular time except as required in
accordance with applicable securities legislation.
Neither 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.
SOURCE: Liuyang Fireworks Limited
For further information:
Chief Financial Officer
Liuyang Fireworks Limited
Tel : 647 350 8818