Elanix Biotechnologies AG: Correction of 2015 Financial Statements - Release according to § 109 Paragraph 2 Sentence 1 WpHG
DGAP-News: Elanix Biotechnologies AG / Key word(s): Miscellaneous
Elanix Biotechnologies AG: Correction of 2015 Financial Statements
Berlin, March 27, 2019
Release according to § 109 Paragraph 2 Sentence 1 WpHG
The German Financial Reporting Enforcement Panel (FREP) determined that the consolidated financial statements of Elanix Biotechnologies AG, Berlin, for the year ended December 31, 2015 are incorrect:
In the consolidated financial statements of Elanix Biotechnologies AG as at 31.12.2105, the balance sheet item intangible assets - with a balance sheet total of EUR 22.7 million - is too high by EUR 22.5 million. The amortised cost of the intangible asset of EUR 22.5 million on which the balance sheet was based was not affected by a business combination within the meaning of IFRS 3.3 in conjunction with IFRS 3.5 in conjunction with IFRS 22.5 million. IAS 38.33 f., by a separate acquisition within the meaning of IAS 38.25, or by the contribution of a shareholder. In addition, the company has not demonstrated the capitalisation requirements required by IAS 38.57 for an intangible asset under development and has not incurred any expenses attributable to the intangible asset up to 31 December 2015. Furthermore, the Company does not have any suitable accounting documents that would enable an expert third party to reconstruct the balance sheet value of the intangible asset as of 31 December 2015 and its first-time recognition in the consolidated financial statements as of 31 December 2014.
This violates IAS 38.21 and § 238 (1) HGB.
27.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Elanix Biotechnologies AG|
|Phone:||+41 22 363 66 40|
|Fax:||+41 22 363 66 41|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf|
|EQS News ID:||792701|
|End of News||DGAP News Service|