DALLAS--(BUSINESS WIRE)--Blue Calypso, Inc. (OTCBB:BCYPE) provided links to SEC.GOV for its Quarterly Report on Form 10-Q for the period ended June 30, 2013 and a Current Report on Form 8-K with the Securities and Exchange Commission filed today.
Per a release issued earlier today, August 29, 2013:
The delay to the filing of the Form 10-Q was primarily due to management’s review of the accounting for certain of its warrants and convertible notes and the conclusion, after consulting with the Company’s Audit Committee and with the Company’s newly appointed auditor Marcum LLP, that they should be accounted for as derivative liabilities rather than as components of equity. These accounting changes are non-cash adjustments.
As disclosed in the Form 8-K filed today, past 10-Qs and 10-Ks will need to be restated to account for these accounting changes. The accounting changes will not impact cash balances.
Management, in conjunction with its auditing teams, will be diligent and work as quickly as possible to update these past documents. Having recently signed two license agreements as expected, the company continues its positive progress in executing its strategy to monetize its intellectual property portfolio.
About Blue Calypso, Inc.
Blue Calypso, Inc. (OTCBB:BCYPE) develops digital innovation solutions and services for the social media marketplace using its patented IP portfolio. The company enables businesses to employ digital advertising to share and socialize brand content as well as track performance, monitor engagements and gather robust analytics – all at lower costs than traditional marketing. Already, Blue Calypso has attracted a handful of large, well-known consumer facing companies in automotive, retail, travel and consumer goods. Blue Calypso licenses its IP in addition to offering digital innovation services and solutions including SOCIALECHO™, EMGAGE™ and POPSHARE™. For more about the company please visit www.bluecalypso.com
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports filed with the Securities and Exchange Commission.