Image analysis software maker Medicsight reported that it is reauditing and restating its 2001 and 2002 financial statements, after reviewing a transaction that took place in November 2001.
As a result of the decision to refile, the company won't be able to file its quarterly report for the third quarter of 2003 with the U.S. Securities and Exchange Commission, London-based Medicsight said.
In other financial news, the company has filed an information statement proposing an increase in its authorized share capital from 25 million shares to 40 million shares. The increase in share capital has been approved by shareholders and will take effect as soon as the firm receives regulatory approval. Currently, more than 24 million shares are in issue, Medicsight said.
By AuntMinnie.com staff writersJanuary 20, 2004
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