BURLINGTON, Ontario–(BUSINESS THREAD)–Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) today announced that, following its announcement on August 3, 2022, that it is revising certain accounting policies, it will restate its unaudited, condensed, interim financial statements consolidated financial statements for the three months ended March 31, 2022, its audited annual financial statements for the year ended December 31, 2021, each with relevant comparative periods, and the relevant management’s discussion and analysis for such periods (collectively, the “Affected”) Disclosures”).
The restatement of the affected disclosures is the result of previously announced discussions with KPMG LLP, the Company’s external auditor, regarding certain technical accounting standards related to the recognition of capital sales and Build Own Operate project costs (” BOO”) related for three of the company’s BOO Projects in the US. The impact of the resulting changes in the Company’s accounting policies on the affected disclosures is in line with the Company’s preliminary estimates contained in its press release dated August 3, 2022.
The Company intends to file restatements of the affected disclosures together with its financial statements and related MD&A for the second quarter of fiscal year 2022, including restated comparative figures, on August 15, 2022, following the market closing
About anergy
Anaergia was created to eliminate a significant source of greenhouse gases by cost-effectively converting organic waste into renewable natural gas, fertilizers and water, using proprietary technologies. With a proven track record of delivering world-leading projects on four continents, Anaergia is uniquely positioned to offer comprehensive solutions to extract organics from waste, implement high-efficiency anaerobic digestion, improve biogas, produce fertilizers and clean water. Our customers are in the municipal solid waste, municipal wastewater, agriculture and food processing industries. In each of these markets, Anaergia has built many successful plants, including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and also operates plants that are owned by its customers.
Prospective information
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the company’s current expectations regarding future events, including statements related to the ability of our technologies and projects to address approximately two-thirds of all point source methane emissions and our business plans, growth strategies and ESG initiatives. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the company’s control. These risks and uncertainties include, among others, the factors discussed in the “Risk Factors” section of the Company’s annual information sheet dated March 28, 2022 for the fiscal year ended December 31 of 2021. Actual results could differ materially from those anticipated. here. Anaergia undertakes no obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.
For more information, see: www.anaergia.com
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