Post by
Loony on Jul 03, 2023 10:37pm
MCTO to be lifted on Thursday?
https://www.stockwatch.com/News/Item/Z-C!RABI-3427766/C/RABI
Adrabbit hopes to file required financials by June 30
2023-06-28 17:45 ET - News Release
Mr. Noah Hershcoviz reports
ADRABBIT LIMITED PROVIDES FOURTH BI-WEEKLY MCTO STATUS UPDATE
Adrabbit Ltd. is providing a biweekly default status update in accordance with National Policy 12-203 -- Management Cease Trade Orders.
After the initial default announcement on April 19, 2023, the company made an application to its principal regulator, the British Columbia Securities Commission (BCSC), under the NP 12-203, requesting that a management cease trade order (MCTO) be imposed as it was anticipated that it will not file its audited financial statements for its fiscal year ended Dec. 31, 2022, its management's discussion and analysis relating thereto and chief executive officer and chief financial officer certificates relating to the 2022 annual financial statements (collectively, the annual required filings) before the prescribed deadline of May 1, 2023.
Subsequently, in the press release dated May 3, 2023, the company announced that BCSC approved the company's application for and granted a MCTO. The MCTO prohibits the CEO and CFO of the company from trading in the company's securities for so long as the annual required filings are not filed. The issuance of such cease trade order does not generally affect the ability of persons who are not directors, officers or other insiders of the company to trade in the company's securities.
As a result of the delay in completing the annual required filings, the company also announced that the filings of its unaudited interim financial statements, management's discussion and analysis, and related CEO and CFO certificates for the three months ended March 31, 2023, would also be delayed beyond the filing deadline of May 30, 2023.
The company expects to file the annual required filings and interim required filings concurrently by the end of June, 2023.
The MCTO will remain in effect until two full business days following the receipt by the BCSC of all filings that the company is required to make under British Columbia securities law.
https://www.stockwatch.com/News/Item/Z-C!RABI-3429078/C/RABI