FYI At least the ordinary shareholder is not cease traded like last time.
Simba Essel granted MCTO; working on FY 2018 results
2018-11-16 17:01 ET - News Release
Mr. Punkaj Gupta reports
SIMBA ESSEL ENERGY PROVIDES BI-WEEKLY DEFAULT STATUS REPORT
Further to the news release dated Nov. 2, 2018, Simba Essel Energy Inc.'s principal regulator, the B.C. Securities Commission, granted a management cease trade order on Nov. 2, 2018, under National Policy 12-203 (Management Cease Trade Orders).
Pursuant to the MCTO, the chief executive officer and the chief financial officer may not trade in securities of the company until such time as the company files its annual audited financial statements for the year ended June 30, 2018, management's discussion and analysis, and related certifications on or before Dec. 31, 2018, and the executive director of the BCSC revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.
The company's board of directors and management confirm that they are working expeditiously to file the required documents and confirm that, since the company's news release dated Nov. 2, 2018, there is no other material information respecting the company's affairs that has not been generally disclosed.
Until the required documents have been filed, the company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing biweekly default status reports in the form of further press releases for so long as the company remains in default of the financial statement filing requirement.