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EMPOWER TECHNOLOGIES REFILES AMENDED 2004 1ST QUARTER MD&A
August 18, 2004, Richmond, British Columbia - As a result of a review by the British Columbia Securities Commission, Empower Technologies Corporation ("Empower") is issuing the following press release to clarify our disclosure.
Recently, British Columbia Securities Commission adopted new rules for disclosure information to be contained in the Management Discussion and Analysis ("MD&A") which is circulated in conjunction with financial statements. Therefore, Empower is amending the MD&A for the first quarter ended March 31, 2004 to comply with the new rules. The amended MD&A will be refiled on SEDAR.
The Management Discussion and Analysis has been amended with new sections on Use of Proceeds of the Company’s Initial Public Offering, Significant Project and Accounting Principles. Outstanding share data has now been included. Results of Operations now contains the breakdown of the expensed Research and Development Costs and Deferred Development Costs.
About Empower Technologies
Founded in 2000, Empower Technologies is a provider of Linux-based embedded system technologies and solutions for the consumer electronics industry and the intelligent appliance market.
Empower is an innovative company that introduced to the world Linux DA O/S, the first and only complete Palm® Handheld compatible Linux Operating System scaled down for the Motorola Dragonball CPU platform. By uniting top professionals from within the computer industry and developing quality partnerships and strategic alliances, Empower is committed to being the leading provider of Linux-based embedded system technologies and solutions for consumer electronics manufacturers.
Empower’s brands are “LinuxDA” (www.linuxda.com) a Linux-based embedded operating system and “PowerPlay” (www.powerplaydevices.com) smart consumer electronics.
Contact Information:
Media Enquiries:
Paul Leung - Chairman, President and CEO: pcleung@empowertechnologies.com
or via Tel @ (604) 278-3100
Investor Relation:
David Flynn - Principal: dflynn787@rogers.com or via Tel @ (416) 346-7725
More Information on Empower Technologies: www.empowertechnologies.com
LEOs ® Sales Enquiries:
sales@empowertechnologies.com or via Telephone @ 604-278-3100
Paul Leung
Chairman, President and CEO
Empower Technologies Corporation
The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management's estimates, assumptions and projections using available information. The company cautions that actual financial results could differ materially from the current expectations due to a number of factors.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
LEOs , PowerPlay and LinuxDA are the trademarks of Empower Technologies, Inc. All other brands are trademarks of their respective owners. |
