SIGA Technologies, Inc. (SIGA) Announces Restatement of Certain Historical Financial Results to Reflect Reclassification of Warrants as a Liability
5/13/2013 9:37:35 AM
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NEW YORK, May 10, 2013 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (Nasdaq:SIGA), a company specializing in the development of pharmaceutical agents to fight pathogens capable of use as bioweapons, announced today that, based on the recommendation of management, the Company concluded that the previously issued consolidated financial statements for the years ended December 31, 2011 and 2010 in the most recently filed annual report on Form 10-K for the year ended December 31, 2012 are no longer appropriate to rely upon because they failed to account for certain outstanding warrants to purchase common stock of the Company as liabilities rather than equity and to account for non-cash charges resulting from required periodic "mark-to-market" adjustments of these warrants. The Company has determined that its Form 10-K for the year ended December 31, 2012 should be amended to reflect the aforementioned liabilities and non-cash charges.
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