CALGARY, Alberta, March 26, 2020 (GLOBE NEWSWIRE) -- GINSMS Inc. (GOK.V) (the “Corporation” or “GINSMS”) is pleased to announced that its audited financial statements for the twelve-month period ended December 31, 2019 have been filed today on SEDAR and are available at www.sedar.com.
On February 13, 2020, GINSMS had disclosed through the issuance of a press release unaudited financial results for the three-month and the twelve-month periods ended December 31, 2019 and provided financial forecasts for the 2020 financial year. This financial disclosure was done in advance of today’s filing of the audited financial statements of the Corporation to allow GINSMS’ ultimate holding company, Beat Holdings Limited (“BHL”), a public company in Japan, to use certain of GINSMS’ financial information in the preparation of BHL’s financial statements.
GINSMS’ financial information for the twelve-month period ended December 31, 2019 was prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).
GINSMS is pleased to report that there is no significant change between the audited financial statements filed today and the unaudited financial information it disclosed earlier on February 13, 2020, except the reclassification of certain loans from non-current liabilities to current liabilities of SGD3,794,150 due to the fact that Mr. Joel Siang Hui Chin confirmed to the Corporation subsequently to the news release on February 13, 2020 that he will not demand settlement of the loans until the Corporation is in sound financial position to repay to him.
GINSMS is a mobile technology and services company focusing on 2 areas namely its A2P Messaging Service and its Software Products and Services. GINSMS operates a cloud-based A2P messaging service that allows the termination of SMS to mobile subscribers of more than 200 mobile operators globally. GINSMS also develops and distribute innovative software products and services for mobile operators and enterprises and have successfully deployed more than 100 solutions worldwide. GINSMS has offices in China, Singapore, Hong Kong, Malaysia and Indonesia.
For further information, please contact:
Joel Chin, CEO
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.