RE:Star is in defaultGolfdaddy wrote: Star Navigation Systems Group Ltd. is now listed on both the BC Securities Commission and Ontario Securities Commission defaulting reporting issuers list. The list of defaults are not filing an annual financial statement, not filing the MD&A, not filing the certification and not paying the fee imposed by their respective Act's. So far there is no cease trading order. Does anyone how long the OSC will let SNA be in default until a cease trading order is issued?
Thanks for the info Golf, I have researched this and it is absolutely true. All of it...on the positive side it has happened to Star a few times in the past, it has varied from a couple of days late to a couple of weeks to three months. This time around your guess is as good as mine. I do not think the company has ever been halted for this, so I doubt it will happen this time around. The list of defaulters is quite long I would say. Is it a common theme? Maybe not but it does happen....anything to worry about? I don't think so, but it is unfortunate that we will have to pay a fine for this. Hopefully they are delaying to offset bad financials with good news to announce?