Cipherloc Corporation announced restatement of earnings results for the year ended September 30, 2014. For the period, the company expects to restate revenue of $221,074, as compared to $1,339,155, as previously reported; net loss of $2,838,461, as compared to $1,713,461, as previously reported; diluted loss per common share of $1.15 as compared to $1.00 previously reported and retrospectively adjusted for the reverse split and net cash provided used in operating activities of $573,613, as compared to $903,726 (retrospectively adjusted for discontinued operations), as a result of an increase in deferred revenue and amortization expense related to discontinued operations.
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- Cipherloc Corporation Announces Restatement of Earnings Results for the Year Ended September 30, 2014