Akers Biosciences Files Restated Previously Issued Financial Statements for 2017
July 13 2018 - 6:24PM
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (“Akers”,
“Akers Bio” or the "Company"), a developer of rapid health
information technologies, has today filed restatements of
previously issued financial statements for the quarterly periods
ended June 30, September 30, 2017 and for the fiscal year ended
December 31, 2017.
As previously disclosed, the Company determined
that certain revenue transactions did not qualify for revenue
recognition under generally accepted accounting principles. In the
process of this determination, the Company discovered information
which affected the revenue, certain obligations and the value of
certain inventory items.
The restated 10-K and 10-Q Forms containing the
full financial statements are available for viewing on the
Company's website at www.akersbio.com or www.sec.gov.
About Akers Biosciences,
Inc.
Akers Bio develops, manufactures, and supplies
rapid screening and testing products designed to deliver quicker
and more cost-effective healthcare information to healthcare
providers and consumers. The Company has advanced the science of
diagnostics while responding to major shifts in healthcare through
the development of several proprietary platform technologies. The
Company's state-of-the-art rapid diagnostic assays can be performed
virtually anywhere in minutes when time is of the essence. The
Company has aligned with major healthcare companies and high volume
medical product distributors to maximize product offerings, and to
be a major worldwide competitor in diagnostics.
Additional information on the Company and its
products can be found at www.akersbio.com. Follow us on Twitter
@AkersBio.
Cautionary Note Regarding Forward
Looking Statements
Statements contained herein that are not based
upon current or historical fact are forward-looking in nature and
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements reflect the Company's expectations about
its future operating results, performance and opportunities that
involve substantial risks and uncertainties. Such statements may
include, without limitation, statements with respect to the
Company’s plans, compliance with the requirements of various
regulatory agencies and certain NASDAQ Stock Market listing rules,
objectives, projections, expectations and intentions and other
statements identified by words such as “projects,” “may,” “will,”
“could,” “would,” “should,” “believes,” “expects,” “anticipates,”
“estimates,” “intends,” “plans,” “potential” or similar
expressions, as they relate to the Company, its subsidiaries, or
its management. These statements are based upon the current beliefs
and expectations of the Company’s management and are subject to
significant risks and uncertainties, including those detailed in
the Company’s filings with the Securities and Exchange Commission.
Actual results, performance, prospects, and opportunities to may
differ materially from those set forth in, or implied by, the
forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change
based on various factors (many of which are beyond the Company’s
control). The Company undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law.
Enquiries:
Akers Biosciences, Inc.
John J. Gormally, Chief Executive Officer
Tel. +1 856 848 8698
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7390 0234
Email: akers@vigocomms.com
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