KIRKLAND, QC, March 30, 2017 /CNW Telbec/ - Manitex Capital Inc. ("Manitex" or the "Corporation") announced today that it has filed a restatement of its previously reported financial results for the 2016 quarters, together with a revised management discussion and analysis ("MD&A") for each respective quarter. The restated financial statements and revised MD&A are available on SEDAR at www.sedar.com.
While preparing its October 31, 2016 financial results, the Corporation revised its revenue recognition accounting policy pertaining to a distribution contract that was effective January 1, 2016. Revenue from the distribution of products under this contract is required to be shown on a net basis, in accordance with IAS 18, as the Corporation is acting as an agent under the terms of the contract. This revised revenue recognition treatment has no impact on the previously stated net loss realized by the Corporation in the interim periods.
About Manitex Capital Inc.
Manitex Capital Inc. invests in promising emerging companies in diversified sectors including life sciences, cleantech and sustainable products/technologies. Manitex provides its portfolio companies with specialized corporate finance and advisory services including corporate strategy, mergers and acquisitions, public markets access and financing. Common shares of the company are listed on the TSX Venture Exchange, trading symbol MNX.V.
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 news release.
SOURCE Manitex Capital Inc.
For further information: Manitex Capital Inc., Steve Saviuk, Chairman and CEO Tel.: 514-694-0150 email@example.com