(TSX - V: UZZ)
EDMONTON, April 25, 2013 /CNW/ - United Protection Security Group Inc. (the "Company") is making an announcement under the provisions of National Policy 12-203. The Company anticipates that it will be delayed in the requirement to file its audited financial statements, and corresponding Management Discussion & Analysis, for the period ended December 31, 2012.
The delay by the Company is as a result of the Company's auditors' conducting additional audit procedures in respect of three acquisitions completed during the last financial year. The Company is assisting the auditors in completing their audit work and anticipates being able to file these financial statements on or before May 10, 2013. The Company intends to satisfy the provisions of the alternative information guidelines of National Policy 12-203 so long as it remains in default of filing its year-end financial statements described above.
There is no other material information concerning the affairs of the Company that has not been generally disclosed.
The additional audit procedures are not expected to affect the financial results of the Company for the year ended December 31, 2012. The projected gross revenue of the Company for the year is expected to be $41,800,000, the expected pre-tax profit is estimated at $1,000,000 and the expected EBITDA(1) is estimated at $2,800,000.
(1) EBITDA - Earnings before interest, taxes, depreciation and amortization.
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Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks related to business development and retention, and risks related to the current economic and credit conditions. As a result, actual results may vary materially from those described in the forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE United Protection Security Group Inc.