German rights trader Advanced Medien has published its revised financial statements for 1999 and 2000 after auditors exposed "dubious" transactions in the original filing, rendering them "ineffective" and, according to some analyst allegations at the time, possibly fraudulent. (ScreenDaily, March 21, 2002)
According to the corrected figures, the company recorded revenues of Euros 11.26m in 1999 (compared to the original total of Euros 33.16m) and an EBITDA of Euros 4.71m (previously: Euros 25.5m). The net loss for 1999 is now minus Euros 11.09m as opposed the previous net income of Euros 1.29m
Meanwhile, revenues for 2000 have been corrected from Euros 14.26m to Euros 14.22m and its EBITDA changes from minus Euros 12.31m to minus Euros 4.71m, with the net loss for the 2000 financial year now amounting to minus Euros 23m (previously: minus Euros 36.7m).