Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Today's Top SOA Links


RYU to Restate Prior Financial Statements

LAS VEGAS, NV -- (Marketwire) -- 11/16/12 -- Respect Your Universe, Inc. (RYU) (TSX VENTURE: RYU) (OTCQB: RYUN), http://www.ryu.com/, today announced that, based on the recommendation of the audit committee in consultation with the management of the Company and the Company's independent registered public accounting firm, the board of directors of Respect Your Universe, Inc. (the "Company") has concluded that the Company will restate its previously issued audited financial statements for the fiscal year ended December 31, 2011 and the unaudited financial statements for quarterly periods ended March 31, 2012 and June 30, 2012, as well as its selected financial data for the relevant periods. Accordingly, investors should no longer rely upon the Company's previously released financial statements for these periods and other financial data relating to these periods.

The restatement consists of certain non-cash adjustments related to share based compensation, primarily the accounting for stock issued to third parties for future services which was subject to forfeiture by the recipient. None of the adjustments will impact reported cash balances and the restatement will reduce the accumulated deficit previously reported. Until the restatement process is complete, additional information may become available which could cause the Company's current estimates to change. The effects of the restatement on certain reported periods are material and the impact of the adjustments will be disclosed in more detail in the Company's restated financial statements.

While the Company has not finalized the consideration of the impact of these adjustments on its assessment of internal controls over financial reporting, the Company has concluded that these adjustments were the result of one or more material weaknesses in internal controls over financial reporting.

The anticipated impacts of the restatements are as follows:

Year ended December 31, 2011

Total assets will decrease approximately $1,624,000 with a corresponding decrease to total liabilities and shareholder's equity. Net loss will decrease approximately $174,000 with no change to net loss per common share.

Quarter ended March 31, 2012

Total assets will decrease approximately $1,236,000 with a corresponding decrease to total liabilities and shareholder's equity. Net loss will increase approximately $13,000 with no change to net loss per common share.

Quarter ended June 30, 2012

Total assets will decrease approximately $857,000 with a corresponding decrease to total liabilities shareholder's equity. Net loss will decrease approximately $162,000 with no change to net loss per common share.

The above estimates are based on currently available and evaluated information and are preliminary and subject to change during the course of the Company's restatement process.

"There is no impact to our cash balances as a result of these adjustments, and they will primarily result in a decrease in our total assets, liability and shareholder's equity balance sheet amounts. The adjustments will reduce our previously reported accumulated deficit as we more accurately reflect the value of these stock for services transactions," said Steven H. Eklund, the Company's Chief Financial Officer.

For more information on RYU visit http://www.ryu.com or call +1-888-455-6183 ext. 101.

About Respect Your Universe

Respect Your Universe, Inc. (TSX VENTURE: RYU) (OTCQB: RYUN) is a premium performance, training and lifestyle brand rooted in and inspired by Mixed Martial Arts. The RYU brand is based on respect, honor, strength and sustainability.

Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable securities laws. Forward-looking statements include statements regarding the Company's intent to restate its prior financial statements, the estimated adjustments of the restated financials, and the expected timing of filing the restated financial statements. There can be no assurance that the Company's management, audit committee or independent registered public accounting firm will not reach conclusions regarding the impact of the restatement that are different from management's preliminary estimates or identify additional issues or other considerations in connection with the restatement and the audit and review process or that these issues will not require additional adjustments to the Company's prior financial results. All of these statements are subject to risks and uncertainties which may cause actual results to differ materially from those stated here. These risks and uncertainties include, but are not limited to, the risk that additional information may arise from the oversight of the audit committee, the risk that the process of preparing and auditing the financial statements or other subsequent events would require the Company to make additional adjustments, the time and effort required to complete the restatement of the financial reports, the ramifications of the Company's potential inability to timely file required reports and the risk of litigation or governmental investigations or proceedings relating to such matters. Other risks are described more fully in the Company's filing with the Securities and Exchange Commission. Except as required by law, the Company undertakes no responsibility to update any of the statements contained in this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information
Corporate Information:
Respect Your Universe, Inc.
http://www.ryu.com

Public Relations:
Respect your Universe, Inc.
pr@ryu.com

Investor Relations:
+1-888-455-6183 ext. 102
ir@ryu.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Web 2.0 Latest News
There are a variety of opinions on the seriousness of Heartbleed being put forth ranging from "it's not the end of the world" to "the sky is falling, duck and cover." Usually the former cites the relatively low percentage of sites impacted by Heartbleed, pegged at about 17% or 500,000 ...
HTML5 is still one of the most discussed topics amongst us technical types. The key challenge, however, has remained unanswered for a long time. How do you effectively wrap HTML5 for use in native mobile applications? Unfortunately I do not have a universal answer, but I do have a s...
If the CEO of the company has anything to say about Lenovo's standing in the PC industry, the company won't stop until massive growth is achieved. In a series of recent buying sweeps, Lenovo has bought Motorola Mobility for a whopping $2.91 billion from Google and also acquired the ser...
Zetta.net is an enterprise-grade backup and disaster recovery provider. We have been in business for over five years, and we have over 800 enterprise customers and managed service providers (MSPs) that use or resell our product, as is the case with MSPs. In terms of the IT challenges,...
What is the “3rd Platform” of IT? It comprises of the cloud, mobile, social, and big data products. According to IDC, “3rd Platform technologies and solutions will drive 29 percent of 2014 IT spending and 89 percent of all IT spending growth”. Much of that growth will come from the “ca...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE