During February 2018, warrants were issued. The warrants were then partly incorrectly recorded as debt. In 2019, these warrants expired and the liability was dissolved over the income statement as financial income.
Correct accounting principle would have been to post the warrants as equity in 2018. This has now been adjusted for in the upcoming Annual Report but represents a deviation from the previously published Interim report. Compared to the Interim report, the effect is that the closing balance of equity for 2018 has been increased by SEK 14.3 million, short-term debt has decreased by SEK 14.3 million. For 2019 the opening balance of equity has increased by SEK 14.3 million and earnings have decreased by SEK 14.3 million compared to the previously submitted Interim report.
For further information, please contact:
Pål Mørch, CEO
Phone: +1 713 385 4104
E-mail: [email protected]
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq First North exchange in Sweden (Ticker: DOME (http://www.nasdaq.com/symbol/els/dome)). Mangold Fondkommission AB, phone: +46 8 503 01 550, [email protected] is the Company’s Certified Adviser. Headquartered in Houston, Texas, the Company’s focus is on the development and production of existing onshore oil and gas reserves in the United States. For more information visit www.domeenergy.com.