BioMark Announces Filing of Amended and Restated MD&A for the Three and Nine Months Ended December 31, 2019
Vancouver, British Columbia--(Newsfile Corp. - May 29, 2020) - As a result of a review by the British Columbia Securities Commission, we are issuing the following press release to clarify our disclosure.
BioMark Diagnostics Inc. (CSE: BUX) (FSE: 20B) (OTCMKTS: BMKDF) ("BioMark")announced it has amended and restated its interim management discussion and analysis (the "Interim MD&A") for the three and nine months ending December 31, 2019. The Interim MD&A has been amended to clarify and expand upon the qualitative discussion on the financial performance of the Company. The amended and restated interim MD&A was filed to address comments received from BCSC Staff to help improve the Company's disclosure. Among other changes, the amended and restated interim MD&A has been revised:
- To identify forward-looking information or state the material factors and assumptions used to develop forward-looking information and describe the Company's policy for updating forward-looking information as required by Section 4A.3 and Section 5.8 of NI 51-102
- To provide results of operations for the quarter ended, and the cumulative year-to-date period with the comparative information to the same period in the previous year
- To provide a comparison of the intended use of proceeds as disclosed in the company's news releases and the actual use of proceeds, and to disclose the relevant material contract
- To discuss the factors that caused significant variations from the previous quarter, especially the company's policy in compliance with IRFRS 15 for revenue recognition related to significant increase in revenue
- To explain the discrepancy on stock-based compensation between Interim Financial Statement and the Interim MD&A
- To better explain how the COVID-19 pandemic will impact the company's business, update the overall performance and risk factor sections for future filing and ensure all relevant risks are disclosed and tailored to the Company's specific situation
The amended information relates only to the Interim MD&A and no changes were made to the financial statements for the corresponding periods. The amended and restated Interim MD&A for the three and nine months ended December 31, 2019 is available under the Company's profile on SEDAR at www.sedar.com.
About BioMark Diagnostics Inc.
BioMark is developing proprietary, non-invasive, and accurate cancer diagnostic solutions which can help detect, monitor and assess treatment for cancer early and cost effectively. The technology can also be used for measuring response to treatment and potentially for serial monitoring for cancer survivors.
For further information on BioMark, please Contact:
Rashid Ahmed Bux
President & CEO
BioMark Diagnostics Inc.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of BioMark. Forward-looking information is based on certain key expectations and assumptions made by the management of BioMark. Although BioMark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because BioMark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. BioMark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CSE has not reviewed, approved, or disapproved the content of this press release.
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