Imax (NASDAQ: IMAX), the maker of giant screen movie technology, announced it was unable to file its 2006 annual on time. The 10-k needs to restate results due to accounting errors over a 6 yr period. The errors, according to the company, are related to incorrect expense accounting for legal services in asia, mistaken capitalization of expenses for co-produced films and unrecorded branch level interest taxes of approximately $750k.
The issues were characterized as minor and are expected to be corrected by March 30th.
More detailed press coverage on Imax’s finances can be found at: