RAP ACQUISITION CORP. ANNOUNCES RESTATEMENT AND REFILING OF ITS JUNE 30, 2010 AND SEPTEMBER 30, 2010 UNAUDITED INTERIM FINANCIAL
23 December 2010 - 9:33AM
PR Newswire (Canada)
TORONTO, Dec. 22 /CNW/ -- TSX VENTURE EXCHANGE: RAP.H /NOT FOR
DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE
SERVICES./ TORONTO, Dec. 22 /CNW/ - RAP Acquisition Corp. ("RAP")
has restated and re-filed its unaudited interim financial
statements and management's discussion and analysis for the six
month period ending June 30, 2010 and nine month period ending
September 30, 2010. The restatement of RAP's interim
financial statements arises from the presentation of the interim
financial statements on an unconsolidated basis. The statements
originally filed did not include the consolidated results of
operation of the Company's formerly owned operating subsidiary
Rapid Refill Corp. The revised financial statements report the six
and nine month results on a consolidated basis, which includes the
results of operations in Rapid Refill Corp. up to the date of
disposition on June 17, 2010, and consolidated numbers for
comparative periods. In addition, the revised financial statements
reporting currency is US dollars for consistency with the 2009
audited annual financial statement and consolidated interim
financial statement for the period ended March 31, 2010. As a
result of these corrections RAP's net income for the three
month period ended June 30, 2010 increased by USD $85,756, and for
six month period ended September 30, 2010 and nine month period
ended September 30, 2010 increased by USD $61,861. Investors are
cautioned that trading in the securities of a CPC should be
considered highly speculative. RAP is governed by the policies of
the NEX Exchange. RAP's principal business is the
identification and evaluation of assets or businesses with a view
to completing an acquisition. Neither NEX Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the NEX Exchange) accepts responsibility for the
adequacy or accuracy of this release. To view this news release in
HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/December2010/22/c7492.html
pElena Masters, CFO at 416-972-9993./p
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