NEWS & INFO
News » RTM to Delay Filing of Annual Financial Statements Tue May 19 2:54:48 UTC 2009
Real Time Measurements Inc. (RTY on TSX.V) (the “Company”) Terry Matthews, President of Real Time Measurements Inc. wishes to advise shareholders that the filing of its annual audited Financial Statements for the 12 month period ended January 31 2009 and accompanying Management Discussion and Analysis which would normally be done by the filing deadline of June 1 2009 will be delayed for about 45 days. This delay is due to audit preparation timing irregularities which were subsequently caused by the time taken by the company to recover from a complete failure of its accounting computer system database at the end of April 2009.
The Company has made an application as prescribed under the foregoing policy requesting that a management cease trade order be imposed in respect of these late filings, rather than a cease trade order.
The Company confirms that it intends to satisfy the provisions of CSA Staff notice 57-301 and National Policy 12-203 by issuing bi-weekly Default Status Reports as long as it remains in default of the financial statement and other disclosure material filing requirements.
Real Time Measurements is a Canadian oil and gas technology development company that designs, builds and sells equipment and provides services to oil and gas companies in various parts of the world. The company uses innovative applications of recent technological developments to solve selected oil and gas upstream measurement problems in more efficient ways. The Company’s primary business activity revolves around the commercial development of premium quality sensors and data gathering systems which are used primarily in oil and gas wells.
For further information please contact
President, CEO, Director
Real Time Measurements Inc.
4500 50th Avenue SE Calgary AB T2P 3R4
Certain statements included in this news release constitute “forward-looking information” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. However, we disclaim any intention and assume no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release represents the expectations of Real Time as at April 20 2009, and, accordingly, is subject to change after such date. However, Real Time expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.