Xplore Technologies Provides Status Update31 July 2005
Xplore Technologies(R) Corp., today provided a status update pursuant to the alternative information guidelines of the Ontario Securities Commission. These guidelines contemplate that the
Company will normally provide bi-weekly updates on their affairs until such
time as they are current with their filing obligations under Canadian
securities laws.
Except as to the matters described in the press release of July 15, 2005,
the Company reported that there have been no material developments in the
matters reported in the Company's press release "Xplore Reports Unaudited 2005
Results, Restates 2004 Results and Comments on Regulatory Developments" dated
June 29, 2005.
The Company is dedicating significant resources to the process to
complete its financial statements as soon as practicable. As previously
announced, the Company will work on the restatement of its financial results
for each quarter in fiscal 2004 and the preparation of its financial
statements for the full fiscal years 2004, 2003 and 2002. Given the volume and
complexity of the work involved, including completion of the Company's work
and the related audits and reviews of results by the Company's independent
auditors, the Company expects to file by August 29, 2005.
The Company's expectations as to the timing of events are subject to
change and are subject to a number of limitations. Specifically, these
limitations include the completion of the Company's work, the related audits
and reviews of results by the Company's independent auditors, and the
completion and results of the previously announced independent review being
undertaken by the Special Committee of the Board of Directors.
The Company's next bi-weekly status update is expected to be released on
August 12, 2005.
About Xplore Technologies(R)
Xplore Technologies Corp, founded in 1996, is an innovative leader in the
rugged Tablet PC industry. Xplore, which is traded on the Toronto Stock
Exchange under the symbol TSX: XPL, has offices in Austin Texas and Helsinki
Finland. Its rugged iX104(TM) family of hardware solutions incorporate
leading-edge technology, and are designed based on years of customer design
input. Xplore's diverse customer base comes from the public safety, retail and
wholesale warehousing, utility, military, field service and transportation
industries. Xplore hardware solutions are available from Xplore or one of its
authorized channel partners, for more information, visit www.xploretech.com.
The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein. Xplore Technologies is a registered trademark of
Xplore Technologies Corporation of America. iX104, iX104R, iX104T, Renegade,
All Terrain, iX104C(2) are trademarks of Xplore Technologies Corporation of
America. All other tradenames, marked or not, are the sole property of their
respective owners.
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This news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially
from the statements made. When used in this document, the words "may",
"would", "could", "will", "intend", "plan", "anticipate", "believe",
"estimate", "expect" and similar expressions are intended to identify
forward-looking statements. Such statements reflect Xplore's current
views with respect to future events and are subject to such risks and
uncertainties. Many factors could cause actual results to differ
materially from the statements made including those factors detailed from
time to time in filings made by Xplore with securities regulatory
authorities. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward looking
statements prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated or expected. Xplore
does not intend and does not assume any obligation to update these
forward-looking statements.
Source: Canada NewsWire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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