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TMCNet:  DEAL A DAY GROUP CORP. FILES (8-K) Disclosing Non-Reliance on Previous Financials, Audits or Interim Review

[July 01, 2014]

DEAL A DAY GROUP CORP. FILES (8-K) Disclosing Non-Reliance on Previous Financials, Audits or Interim Review

(Edgar Glimpses Via Acquire Media NewsEdge) Item 4.02(a). Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

On October 2, 2012, Deal a Day Group, Inc. (the "Company") filed a Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 (the "Form 10-Q").

On October 15, 2012, the "Company" filed a Quarterly Report on Form 10-Q/A Amendment No. 1 for the quarter ended June 30, 2012 (the "Amendment No. 1 to Form 10-Q").

On February 21, 2013, the "Company" filed a Quarterly Report on Form 10-Q/A Amendment No. 2 for the quarter ended June 30, 2012 (the "Amendment No. 2 to Form 10-Q").


The Amendment No. 1 to Form 10-Q was filed solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 to Amendment No. 1 to Form 10-Q provided the consolidated financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting Language).

Amendment No. 2 to Form 10-Q restated the Company's financial statements to provide restated consolidated financial statements and related notes to the Form 10-Q and Amendment no. 1 to Form 10-Q . The consolidated financial statements and related notes we restated in Amendment No. 2 to Form 10-Q to reclassify certain current notes payable to non-current and to present accrued interest as a separate line item on the balance sheet. In addition, the Company re-stated income to account for stock based compensation which was overlooked in the original filing.

As a result of the above, the financial statements for the three and six months ended June 30, 2012 in the Form 10-Q and Amendment No. 1 to Form 10-Q, should no longer be relied upon insofar as they relate to current notes payable, contributed surplus and stock based compensation.

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