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THK") (AMEX:THK) today announced additional information regarding its previously announced decision to amend and restate its audited consolidated financial statements and other financial information for at least the years ended December 31, 2004, and 2003 and the unaudited consolidated financial statements for at least the quarters ended September 30, 2004 and 2003, June 30, 2005, 2004 and 2003, and March 31, 2005, 2004 and 2003 (collectively the "Relevant Periods").
Consequently we expect to change WebSourced's revenue recognition policies for the Relevant Periods to a "straight-line" model, which will require us to amend and restate THK's previously filed financial statements for the Relevant Periods.
Since IXOS is committed to observing strict standards of transparency and corporate governance, the Company has decided to restate its consolidated financial statements for fiscal year 2001/2002 and to revise the relevant quarterly reports for fiscal year 2002/2003.