Canada-based Lakeside Steel Inc., a diversified steel pipe and tubing manufacturer located in Welland, Ontario, Monday announced that it has filed an Annual Information Form with securities regulatory authorities and has also filed on SEDAR revised Annual MD&A for the year ended March 31, 2010. They have further stated they have revised the Interim MD&A and Interim Financial Statements for the period ended June 30, 2010.
The Annual MD&A was revised to provide additional expanded disclosure, including additional qualitative disclosure, regarding Lakeside's results of operations and liquidity and capital resources. The Annual MD&A was also revised to correct an inconsistency with the administrative and financial expense figure previously disclosed.
The Annual MD&A and the Interim MD&A were revised to identify certain non-GAAP measures used therein and to provide additional disclosure relating to such non-GAAP measures, as well as to provide expanded disclosure regarding forward-looking information. The Interim MD&A was revised to conform the amount by which liabilities increased during the three months ended June 2010, to the related interim financial statements for the period.
A note to the Interim Financial Statements was revised to clarify disclosure relating to the fair valuing of investments to indicate that the Company is still using the level 3 hierarchy for the fair value of certain investments.
Management emphasizes that that there are no material changes to the Company's financial statements with respect to results reported previously.
In connection with the above refiled materials, the Company has filed the Certification of Refiled Annual Filings (Form 52-109F1R) and Certification of Refiled Interim Filings (Form 52-109F2R).
Lakeside Steel is a 2010 TSX Venture Exchange 50 company and the parent company of Lakeside Steel Corporation.