InCoax Networks AB activates development costs
The InCoax Networks AB Board now assess fulfilment of criteria for activation of development costs according to the K3 requirements. As a result, development costs directly related to the development and testing of specified and unique products will be reported as immaterial fixed assets.
The Board's assessment is based on the fact that InCoax now sees a clear demand for the company's products and together with Operator customers can make a better forecast for the future sales of both the current product line and the new one that is under development in close collaboration with a major Tier-1 operator in North America.
The change in the accounting principle applies from the third quarter of 2020. Development costs that were previously expensed are not reported as an asset.
This information is such information as InCoax Networks AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08:58 CET on November 26, 2020.
For more information:
Jörgen Ekengren, CEO, InCoax Networks AB
+46 73- 899 55 52
About InCoax Networks AB
InCoax Networks AB (publ) is innovating the future of broadband access. InCoax MoCA Access 2.5 platform provides the next generation cost-efficient multi-gigabit Fiber Access Extension solutions to the world’s leading telecom, cable- and broadband service providers. To keep updated on corporate information, visit incoax.com. Augment Partners AB, tel. +46 8-505 651 72 email@example.com, is acting as the company’s Certified Adviser.