Addendum to the current report No. 44/2010 in the matter of estimating consolidated revenue from sales for Q2 2010.
Acting pursuant to Art. 5(1)(25) of the Resolution of the Minister of Finance dated 19 February, 2009 in the matter of current and periodical information communicated by issuers of securities and terms of recognition of information required by provisions of the law of non-member states as equivalent (Journal of Laws Dz.U. No. 33, item 259, as amended), the Management Board of City Interactive S.A. hereby informs, that as per the estimations of the Company the consolidated net revenue from sales generated by the City Interactive Capital Group in Q2 2010 exceeded 18 million PLN.
The Management Board further plans to create provisions in Q2’s financial result for adjustments relating to sales in the amount of 1 million PLN.
The present estimations were prepared by the Company under the following assumptions: Company’s consolidated base currency is PLN. Revenue generated by City Interactive S.A. and the companies forming the capital group in currencies other than the consolidated base currency were converted and presented in accordance with the International Financial Reporting Standards, all effected transactions being included.
The amount of reserve for returns was estimated on the basis of previous experiences of cooperation with particular purchasers, in accordance with prudence principle. The Company’s Management Board will be constantly monitoring the performance of the estimations.
Moreover, such evaluation will be performed during the audit of the consolidated financial statement of the capital group. The presented revenue estimations were not subject to verification by a chartered auditor.
