Material informationJusthalfull - The term "material information" is used by both TSX/ TSX Companies Manual and OSC/ OSA, but the disclosure requirements appear to be slightly different.
One difference is that the TSX goes on to say, in the examples cited, that a significant change in near term profitability should be disclosed. However, the the interpretation of the OSA is that such is not a "material change", so can it to be diclosed in the normal course via quarterly releases.
One other comment that was made is that licensing revenue is very variable, and the market knows that, thus no need to pre-announce. I get that. But if QTRH chooses to preannounce the large "beats"/ positive news, it should also preannounce the large "misses"/ negative news.