TSX VENTURE EXCHANGE: RAP.H
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES./
TORONTO, Dec. 22 /CNW/ - RAP Acquisition Corp. ("RAP") has restated and re-filed its unaudited interim financial statements and management's discussion and analysis for the six month period ending June 30, 2010 and nine month period ending September 30, 2010.
The restatement of RAP's interim financial statements arises from the presentation of the interim financial statements on an unconsolidated basis. The statements originally filed did not include the consolidated results of operation of the Company's formerly owned operating subsidiary Rapid Refill Corp. The revised financial statements report the six and nine month results on a consolidated basis, which includes the results of operations in Rapid Refill Corp. up to the date of disposition on June 17, 2010, and consolidated numbers for comparative periods.
In addition, the revised financial statements reporting currency is US dollars for consistency with the 2009 audited annual financial statement and consolidated interim financial statement for the period ended March 31, 2010.
As a result of these corrections RAP's net income for the three month period ended June 30, 2010 increased by USD $85,756, and for six month period ended September 30, 2010 and nine month period ended September 30, 2010 increased by USD $61,861.
Investors are cautioned that trading in the securities of a CPC should be considered highly speculative.
RAP is governed by the policies of the NEX Exchange. RAP's principal business is the identification and evaluation of assets or businesses with a view to completing an acquisition.
Neither NEX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the NEX Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: For further information:
Elena Masters, CFO at 416-972-9993.