Universal Digital Announces the Filing of Amended and Restated Financial Statements and MD&A's
Universal Digital (OTCQB:LFGMF) has announced the amendment and restatement of its financial documents following a review by the British Columbia Securities Commission (BCSC). The company has refiled its audited consolidated financial statements for FY2025 and unaudited Q1 2025 financial statements, along with corresponding management discussions and analyses.
The restatements were necessary to revise IFRS assumptions regarding the fair value calculation of common shares related to a December 2024 debt settlement and the acquisition of 19% stake in Geometric Galaxy Ltd. in April 2025. The company emphasized that these restatements do not affect its ongoing operations or cash position.
Universal Digital (OTCQB:LFGMF) ha comunicato la modifica e la riformulazione dei propri documenti finanziari a seguito di una revisione da parte della British Columbia Securities Commission (BCSC). La società ha ripresentato i propri bilanci consolidati annuali verificati per l’esercizio 2025 e i bilanci trimestrali non verificati del primo trimestre 2025, insieme alle corrispondenti relazioni sulla gestione e analisi.
Le rettifiche sono state necessarie per aggiornare le ipotesi IFRS relative al calcolo del fair value delle azioni ordinarie connesse a un accordo di ristrutturazione del debito di dicembre 2024 e all’acquisizione del 19% di Geometric Galaxy Ltd. nell’aprile 2025. La società ha sottolineato che queste riformulazioni non incidono sulle operazioni in corso né sulla posizione di cassa.
Universal Digital (OTCQB:LFGMF) ha anunciado la enmienda y reformulación de sus documentos financieros tras una revisión por la British Columbia Securities Commission (BCSC). La compañía ha vuelto a presentar sus estados financieros consolidados auditados del ejercicio 2025 y sus estados financieros no auditados del primer trimestre de 2025, junto con los correspondientes informes de gestión y análisis.
Las reformulaciones fueron necesarias para ajustar las hipótesis IFRS relativas al cálculo del valor razonable de las acciones ordinarias vinculadas a un acuerdo de liquidación de deuda de diciembre de 2024 y a la adquisición del 19% de Geometric Galaxy Ltd. en abril de 2025. La compañía enfatizó que estas correcciones no afectan sus operaciones en curso ni su posición de efectivo.
Universal Digital (OTCQB:LFGMF)는 브리티시컬럼비아 증권위원회(BCSC)의 검토에 따라 재무 문서를 수정 및 재작성했다고 발표했습니다. 회사는 2025 회계연도 감사 연결 재무제표와 2025년 1분기 미감사 재무제표를 재제출했으며, 이에 따른 경영진 논의 및 분석(MD&A)도 함께 제출했습니다.
재작성은 2024년 12월의 채무 정산 및 2025년 4월의 Geometric Galaxy Ltd. 지분 19% 인수와 관련된 보통주 공정가치 산정에 관한 IFRS 가정을 수정하기 위해 필요했습니다. 회사는 이러한 재작성으로 인해 영업 활동이나 현금 보유고에는 영향이 없다고 강조했습니다.
Universal Digital (OTCQB:LFGMF) a annoncé la modification et la refonte de ses documents financiers à la suite d’un examen par la British Columbia Securities Commission (BCSC). La société a re-déposé ses états financiers consolidés audités pour l’exercice 2025 ainsi que ses états financiers non audités du 1er trimestre 2025, accompagnés des discussions et analyses de gestion correspondantes.
Les retraitements ont été nécessaires pour réviser les hypothèses IFRS utilisées dans le calcul de la juste valeur des actions ordinaires liées à un règlement de dette de décembre 2024 et à l’acquisition de 19 % de Geometric Galaxy Ltd. en avril 2025. La société a souligné que ces retraitements n’affectent ni ses activités en cours ni sa position de trésorerie.
Universal Digital (OTCQB:LFGMF) hat die Änderung und Neufassung seiner Finanzdokumente nach einer Prüfung durch die British Columbia Securities Commission (BCSC) angekündigt. Das Unternehmen hat seine prüften konsolidierten Jahresabschlüsse für das Geschäftsjahr 2025 sowie die unprüften Finanzberichte für das erste Quartal 2025 erneut eingereicht und die entsprechenden Managementberatungen und -analysen beigefügt.
Die Berichtigungen waren erforderlich, um IFRS-Annahmen zur Ermittlung des beizulegenden Zeitwerts von Stammaktien im Zusammenhang mit einer Schuldenbereinigung im Dezember 2024 und der Erwerbung von 19 % an Geometric Galaxy Ltd. im April 2025 zu überarbeiten. Das Unternehmen betonte, dass diese Neufassungen keine Auswirkungen auf den laufenden Geschäftsbetrieb oder die Liquiditätslage haben.
- Proactive compliance with regulatory requirements through voluntary restatement
- No impact on company's ongoing operations or cash position
- Need to restate financial documents due to BCSC review
- Previous financial statements and MD&As can no longer be relied upon
- Revision required for fair value calculations of significant transactions
Vancouver, British Columbia--(Newsfile Corp. - August 30, 2025) - Universal Digital Inc. (CSE: LFG) (OTCQB: LFGMF) (FSE: 8R20) (the "Company" or "Universal Digital") announces that, pursuant to Section 11.5 of National Instrument 51-102 Continuous Disclosure Obligations, and as a result of a continuous disclosure review by the BCSC, it has amended, restated and refiled its: (i) audited consolidated financial statements of the Company for the fiscal year ended January 31, 2025 (the "Annual Financial Statements"), (ii) unaudited condensed consolidated financial statements of the Company for the three month period ended April 30, 2025 (the "Interim Financial Statements"), and (iii) each corresponding management's discussion and analysis (collectively, the "Restated Documents").
Following review by the BCSC, and the Company's management and auditors, of the previously issued Annual Financial Statements, Interim Financial Statements and each corresponding management's discussion and analysis (collectively, the "Previous Documents"), it was determined that assumptions made under International Financial Reporting Standards ("IFRS") for calculating the fair value of the share price of common shares in the capital of the Company issued in connection with a debt settlement transaction completed in December 2024, and the acquisition of
The effect of the Restatements does not impact the Company's ongoing operations or cash position. Please refer to Note 15 of the Annual Financial Statements and Note 17 of the Interim Financial Statements for further details regarding the Restatements.
The Restated Documents are available under the Company's profile on SEDAR+ at www.sedarplus.ca. The Restated Documents will replace the Previous Documents and the Previous Documents should no longer be relied upon.
About Universal Digital Inc.
Universal Digital Inc. is a Canadian investment company focused on digital assets, businesses and private and publicly listed entities that are involved in high-growth industries, with a particular focus on blockchain, cryptocurrencies and cryptocurrency technologies. The Company aims to provide shareholders with long-term capital growth through a diversified investment approach, and to participate in the transformation of global finance through the integration of digital asset strategies.
For further information, contact:
Chris Yeung
Chief Executive Officer and Director
Email: ir@universaldigital.io
Tel: (289) 646-6252
www.universaldigital.io
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264589
FAQ
What financial documents did Universal Digital (LFGMF) restate in August 2025?
Why did Universal Digital (LFGMF) need to restate its financial documents?
Does the Universal Digital (LFGMF) financial restatement affect its operations?
Where can investors access Universal Digital's (LFGMF) restated financial documents?
