Cognition Holdings Limited announced restatement of financial results for the six months ended December 31, 2014. For the period, basic and diluted earnings per share as originally reported was 10.73 cents against restated amount of 9.31 cents. Diluted headline earnings per share as originally reported was 10.69 cents against restated amount of 9.27 cents. In accounting for the business combination of the BMi Sport Group for the six month period ended 31 December 2014 the effective date was reported and accounted for as 1 July 2014. The date of 1 July 2014 reflected the date on which the Company acquired contractual control of the BMi Sport Group. However, after a review by the company's auditors during the preparation of the full year results for the period ended 30 June 2015, it was found that whilst the contractual control date of 1 July 2014 was indeed correct, it did not accord with the control of entity requirements of IFRS and that the effective date of the transaction and of control for purposes of IFRS was determined to be 1 March 2015. The restatement has no impact on the financial results for the year ended 30 June 2015.

For the six months ended December 31, 2015. The company expects basic earnings per share (EPS) is expected to be between 5.58 cents and 6.52 cents, reflecting a decrease of between 30% and 40% compared to the restated EPS of 9.31 cents for the six months ended 31 December 2014; and the headline earnings per share (HEPS) is expected to be between 5.56 cents and 6.48 cents, reflecting a decrease of between 30% and 40% compared to the restated HEPS of 9.27 cents for the six months ended December 31 2014. The expected decrease is primarily due to a further decline in faxing volumes during the six months under review. Whilst the number of fax subscribers remained constant, the average rate per user for Fax2Email declined. Although this trend has been anticipated, giving rise to the development of new products and services, the decline was quicker than the increased revenue from new services being introduced to the market. However, for the period under review, Email2Fax increased by 15% albeit off a lower base.