StageZero Life Sciences Ltd. Files Amended and Restated First Quarter Financial Statements and Management Discussion and Analysis
June 18, 2020 (Source) – StageZero Life Sciences Ltd. (TSX:SZLS) (“StageZero“, or the “Company“) has filed its amended and restated management discussion and analysis (“MD&A“) and interim financial statements for the three month period ended March 31, 2020 (collectively, the “Amended Filings“) to provide more detailed analysis than the original MD&A and interim financial statements for the three months ended March 31, 2020 filed on June 1, 2020.
The amendments in the Amended Filings include:
March 31, 2020
- an adjustment to the fair value of certain convertible debentures and warrant liabilities as at March 31, 2020.
March 31, 2019
- a reallocation of the purchase price for the remaining 50% of StageZero Life Sciences Inc. (formerly IDL) on March 4, 2016, resulting in an increase in deficit of US$1,039,349.
- a revision to the valuation of the warrant liability associated with the June 8, 2018 convertible securities funding agreement (CSFA) with Lind Asset Management XI, LLC and corresponding adjustments to share capital and interest expense.
- adjustments to right-of-use asset, rent receivable, amortization and interest charges.
About StageZero Life Sciences Ltd.
StageZero Life Sciences is dedicated to the early detection of multiple disease states through whole blood. The Company operates a CAP accredited and CLIA certified high complexity reference laboratory based in Richmond, Virginia. A specialist in PCR testing for the early identification of cancer through blood, the Company is uniquely positioned to provide both COVID PCR testing (nasal swab) and blood test analysis (antibody testing). The Company’s full service, telehealth platform includes access to physicians and phlebotomist who can prescribe and draw samples for individuals and groups. As the Company provides COVID-19 testing during this pandemic, the Company continues making progress with its mission to eradicate late stage cancers through early detection. The Company’s next generation test, Aristotle®, is a multi-cancer panel for simultaneously screening for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer. www.stagezerolifesciences.com
This press release contains forward-looking statements identified by words such as “expects”, “will” and similar expressions, which reflect the Company’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties that could cause the Company’s actual events to differ materially from those projected herein. Investors should consult the Company’s ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, except as required by law.