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News Breaks | | | | December 30, 2012 | | 13:42 EDT |  | CSFS | Cash Store Financial CFO sees tax benefit from restatement
Pursuant to the press release issued December 10, the company also filed amended interim unaudited consolidated financial statements for the periods ended March 31 and June 30. Mr. Craig Warnock, Cash Store Financial Services' CFO, added, "the restatement was a result of the fact that the company subsequently determined that approximately $36.8M of the total consideration paid to acquire the portfolio of loans represented a premium paid on acquisition, and has also increased loan loss provisions, and adjusted its financial statements accordingly. Due to the restatement we anticipate a tax benefit of approximately $13.1M." For further details regarding the restatement, reference should be made to the company's press release issued December 10. | |
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News For CSFS From The Last 14 Days Check below for free stories on CSFS the last two weeks. |
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| May 21, 2013 | | 09:11 EDT | | CSFS | Cash Store Financial trading halted, pending news
 Subscribe for More Information | | | May 20, 2013 | | 09:13 EDT | | CSFS | Cash Store Financial trading halted, pending news
Subscribe for More Information | | | May 17, 2013 | | 09:05 EDT | | CSFS | Cash Store Financial trading halted, pending news
Subscribe for More Information | | | May 16, 2013 | | 09:09 EDT | | CSFS | Cash Store Financial trading halted, pending news
| | | May 15, 2013 | | 19:48 EDT |  | CSFS | Cash Store Financial reports Q2 EPS (24c), one estimate (9c)
Subscribe for More Information | | | 09:44 EDT | | CSFS | Cash Store Financial says investigation ended, no further restatements needed
Subscribe for More Information | | | 09:26 EDT | | CSFS | Cash Store Financial trading halted, pending news
| | | May 14, 2013 | | 12:00 EDT |  | CSFS | Cash Store Financial falls 6.8%
Subscribe for More Information | | | 06:18 EDT | | CSFS | Cash Store Financial to restate issued consolidated financial statements
The Cash Store Financial Services announced that it will restate the previously issued consolidated financial statements for the years ended September 30, 2012; September 30, 2011 and the fifteen month period ended September 30, 2010. The Company will also restate the December 31, 2011; March 31, 2012; June 30, 2012 and December 31, 2012 unaudited interim consolidated financial statements. The correction of the error effective from September 30, 2010 will result in the maximum exposure of $18.8M being expensed. The maximum amount of the potential liability was first disclosed in the notes to the financial statements in March 2010, and disclosed thereafter in the annual and quarterly financial statements. The maximum potential exposure consists of approximately $6.2M in cash, which was paid to the Settlement Administrator in 2011, approximately $6.2M in credit vouchers, and $6.4M in legal fees, which was paid to the plaintiff's counsel in 2010. After cash and credit vouchers have been disbursed by the Settlement Administrator, the remaining accrual for unclaimed credit vouchers as of March 31, 2013 is approximately $5.3M. | | | May 9, 2013 | | 05:24 EDT | | CSFS | Cash Store Financial reports Q2 revenue C$46.7M vs. C$42.1M last year
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