TORONTO, July 23 /CNW/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF) today announced it had filed a revised Management Discussion and Analysis ("MDA") for the year ended December 31, 2009. The Ontario Securities Commission ("OSC") had conducted a continuous disclosure review under its Harmonized Continuous Disclosure Review Program described in CSA Staff Notice 51-312 and provided the company with its comments. The changes made to the MDA are in response to those comments. These changes do not affect the previously reported annual audited financial results of the company.
The revisions to the MDA include providing additional information on factors driving revenue increases; a discussion of the increase in revenues and decrease in loss over the eight quarters shown in the summary of quarterly information; adding a comparison and a discussion of the last three year's selected summary annual information; expanding disclosure on risks and uncertainties the company could be subject to; and expanding disclosure on the use of the non-GAAP financial measure EBITDA, its composition and comparison to the prior year.
"The OSC regularly conducts continuous disclosure reviews of its reporting issuers and in doing so helps to maintain some of the highest standards of disclosure available to the global investment community," said John Heaven, President and CFO, YANGAROO. "Accordingly investors can rely on and have confidence in the disclosures made by our company and by other reporting issuers."
The full text of the revised Management Discussion & Analysis is available at www.sedar.com.
YANGAROO's patented Digital Media Distribution System (DMDS) is a leading secure B2B digital delivery solution for the music and advertising industries. DMDS is a Web-based delivery system that pioneers secure digital file distribution by incorporating biometrics, high-value encryption and watermarking. DMDS replaces the physical distribution of audio and video content for music, music videos, and advertising to television, radio, media, retailers, award shows and other authorized recipients with more accountable, effective, and far less costly digital delivery of broadcast quality media via the Internet.
Named one of Canada's Top 100 Tech Companies for 2009 by Canadian Business, YANGAROO has offices in Toronto, New York, Los Angeles, and London, U.K. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB:YOOIF.
The statements contained in this release that are not purely historical are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE YANGAROO Inc.
For further information: For further information: John Heaven at 905-763-3553 or visit www.yangaroo.com