AirIQ Announces Re-Filing of Financial Statements
February 10 2011 - 4:30PM
Marketwired
AirIQ Inc. ("AirIQ" or "the Company") (TSX VENTURE: IQ), a supplier
of wireless location-based services, today announced that it has
re-filed its audited consolidated annual financial statements for
the financial year ended December 31, 2009. The consolidated
financial statements have been re-filed because the Company's
auditors, BDO Canada LLP, have provided a revised auditor's report
to include the audit of the reclassification of discontinued
operations and the reclassification of service contract costs
previously shown separately to intangible assets for the financial
year ended December 31, 2008 as reflected in the financial
statements previously filed. In addition, the financial statements
now incorporate the audit report of Ernst &Young LLP, the
Company's former auditors, in respect of the December 31, 2008
fiscal year end.
The Company does not believe that the revisions to the Auditor's
Report are material, and no other changes were made to the
financial statements. The re-filed financial statements which
include the above-noted revised and new auditors' reports have been
filed with Canadian securities regulators on SEDAR and may be
viewed at www.sedar.com.
About AirIQ
AirIQ currently trades on the TSX Venture Exchange under the
symbol IQ. AirIQ's office is located in Pickering, Ontario, Canada.
The Company offers a suite of location based services that generate
recurring revenues from each device deployed. AirIQ delivers
services to two primary markets: Commercial Fleets and dealers that
service Consumer segments. AirIQ provides vehicle owners with the
ability to monitor, manage and protect their mobile assets.
Services include: instant vehicle locating, boundary notification,
automated inventory reports, maintenance reminders, security alerts
and vehicle disabling and unauthorized movement alerts. For
additional information on AirIQ or its products and services,
please visit the Company's website at www.airiq.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: AirIQ Inc. Donald Gibbs President and Chief Executive
Officer (905) 831-6444, Ext. 4255 dgibbs@airiq.com
www.airiq.com
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