NEW YORK, Oct. 26, 2016 (GLOBE NEWSWIRE) -- Evercel, Inc. (“Evercel”) (OTC:EVRC) announced today that the release of its consolidated financial statements for the Fiscal 2016 year, which ended March 31, 2016, will be delayed by a few more weeks. Certain changes in accounting personnel, together with the complexities of consolidating the financial statements of Evercel and its subsidiaries, have contributed to extend the review process. Evercel’s management does not expect the 2016 financial statements to reflect any material adverse surprises in the results of operations. Evercel expects the 2016 financial statements to be released by the middle of November.
Separately, Evercel is preparing to hold an annual meeting of stockholders. A date for such meeting of shareholders shall be announced in conjunction with the release of the 2016 financial statements.
Cautionary Statement Regarding Forward-Looking Information
Statements in this press release that are not historical facts are “forward-looking statements” that may involve material risks and uncertainties. Evercel wishes to caution readers not to place undue reliance on such forward-looking statements, which speak only as of the date made.