goeasy Ltd. Refiles its 2017 and Q1 2018 Financial Statements and MD&A to Reclassify Certain Items in its Cash Flow Statements
MISSISSAUGA, Ontario, June 29, 2018 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX:GSY), (“goeasy” or the “Company”), a leading full-service provider of goods and alternative financial services that provides everyday Canadians with a chance for a better tomorrow, today refiled its financial statements and management’s discussion and analysis (“MD&A”) for the year ended December 31, 2017 and the three-month period ended March 31, 2018. The amended financial statements and MD&A reclassified certain line items on the Company’s statements of cash flows from cash used in investing activities to cash used in operating activities. The reclassifications had no impact on the Company’s net income, earnings per share, net change in cash during the period, cash position, statements of income or statements of financial position.
The refiling was made in connection with a continuous disclosure review of the Company’s disclosure filings by the Ontario Securities Commission. The refiled documents are available on SEDAR at www.sedar.com and on the Company’s website at www.goeasy.com.
Specifically, the line-item “net issuance of consumer loans receivable” – which had been classified in the Company’s 2017 cash flow statement as “cash used in investing activities” – was reclassified as “cash used in operating activities.” Additionally, the line-item “purchase of lease assets” which had been classified in the Company’s 2017 and Q1 2018 cash flow statement as “cash used in investing activities” – was reclassified as “cash used in operating activities.” In both instances, the reclassification was made to better align these activities with other revenue generating activities of the Company that were included with “cash used in operating activities.”
goeasyLtd. is a leading full-service provider of goods and alternative financial servicesthat provides everyday Canadians with a chance for a better tomorrow, today. goeasy Ltd. serves its customers through two key operating divisions,easyfinancial andeasyhome.easyfinancial is a non-prime consumer lender that bridges the gap between traditional financial institutions and costly payday lenders. It is supported by a strong central credit adjudication process and industry leading risk analytics.easyfinancial also operates an indirect lending channel, offering loan products to consumers at the point-of-sale of third party merchants. easyhome is Canada's largest lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. Both operating divisions ofgoeasy Ltd. offer the highest level of customer service and enable customers to transact through a national store and branch network and through its online and mobile eCommerce enabled platforms.
goeasy Ltd.’s. common shares are listed for trading on the TSX under the trading symbol “GSY” and goeasy’s convertible debentures are traded on the TSX under the trading symbol “GSY-DB”. goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody’s. For more information, visit www.goeasy.com.
For further information contact:
Chief Executive Officer
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