Lifeist Wellness Inc V.LFST

RE:CTO still on the table...

[BronxBull]

Wouldn't be the first company to cease trading while financials get in order. The stock has never ceased to trade to date. You're making sh!t up.

stock1829 wrote: ...the prospect of a Cease Trading Order at any time is VERY real.

Since Namsate is incorparated in British Columbia and trades on a Canadian exchange the BC Securities Commission has a big stake.  These are their rules for a MCTO (Management Cease Trading Order). BC has issued two CTOs against them in the past two years - and any other regulator can disagree with their MCTO - so it is way far away from a done deal:

Companies fitting the following profile are considered eligible for a management CTO:

• the financial statements and related audit reports, if any, will be filed within a relatively short time period (generally a maximum of two months);
• a majority of the company’s board of directors is in place;
• the company is generating revenue from its principal business or, if it is in the development stage, the company is actively pursuing the development of its products or properties;
• the company’s securities are listed on a Canadian stock exchange and there is an active, liquid market for those securities;
• the company is not on the defaulting reporting issuer list of any commission for any reason other than the failure to file the financial statements.

We will consider a company’s history of complying with its reporting obligations including, in particular, the filing of its financial statements on time during the past year, in deciding whether the company’s request for a management CTO should be granted.