Axios Mobile Assets Corp. reported that it has re-filed its previously-issued unaudited interim consolidated financial statements and management discussion and analysis (MD&A) for the periods ended March 31, 2015, June 30, 2015 and September 30, 2015. It has also filed its audited annual financial statements for the year ended December 31, 2015. The company noted the following summary of the material revisions to its amended and restated financial statements and MD&A: Adjustments identified during the company's preparation and audit of its year-end financial statements were reflected in the quarterly financial statements. Net loss for the nine months ended September 30, 2015 was reduced by $691,846. This improvement in the company's results was driven by a $520,896 reduction in debt settlement expense, a $159,118 gain on change in fair value of a derivative liability, a $123,083 increase to accretion expense, a $104,854 increase to professional fees, a $91,130 decrease to depreciation expense and a $162,174 decrease to interest expense, and miscellaneous smaller adjustments. Consolidation entries were recorded that resulted in offsetting reductions to revenue and pooling and freight services expenses in second quarter and third quarter of 2015. Timing errors between first quarter, second quarter and third quarter of 2015 were corrected. The corrections primarily impacted the timing of pooling and freight services expense and stock based compensation expense. These entries had no impact on year-to-date net loss for the nine months ended September 30, 2015. As a result of the income statement adjustments, as well as other audit adjustments related primarily to equity transactions, the company recorded significant adjustments to its balance sheet in first quarter, second quarter and third quarter of 2015. In second quarter and third quarter of 2015, convertible debt of $1,589,594 and $1,648,348, respectively, was reclassified from non-current liabilities to current liabilities. 2014 comparative figures were adjusted to correct timing errors between first quarter, second quarter and third quarter and fourth quarter of 2014. These corrections impacted the timing of depreciation and amortization expense, interest expense, accretion expense, and other operating expenses. The entries had no impact on 2014 full year revenue or net loss. Reallocations were made between line items within the statements of cash flows for first quarter, second quarter and third quarter of 2015. These changes had no impact on the ending cash balance in any period. Changes were made to account groupings and presentation of the statements of loss and comprehensive loss. Revenue previously shown in a single category has been separated into two categories, categories of operating expenses have been updated and expenses previously reported as cost of goods sold are now presented within operating expenses. These changes, along with updates to the discussion in the MD&A, were made in order to more clearly reflect the results of the business in light of a shift in the Company's business model from a pallet manufacturer to a pallet pooling service provider in late 2014 to early 2015.