Banxa Holdings Inc V.BNXA

Alternate Symbol(s): BNXAF

Financial Services

Banxa Holdings Inc. is a Canada-based company, which provides a financial technology platform. The Company’s principal business activity is being a payment service provider to global cryptocurrency exchanges. The Company’s products include On & Off Ramps, NFT Checkout, OpenRamp and Token Listings. It offers extensive global and local payment options resulting in conversion rates up to three times higher than credit card-only solutions. Its fiat-to-crypto On & Off Ramp solutions enable users to conveniently and securely convert traditional fiat currencies into cryptocurrencies. Its product is a full-stack solution, including UI, Identity know your customer (KYC), Payments, Crypto Liquidity Management and Customer Support. Its NFT checkout solution is offered both in the primary and secondary markets. OpenRamp offers a streamlined solution for on & off ramping, enabling users to effortlessly transition between traditional financial systems and the decentralized blockchain world.

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Banxa Holdings Inc

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Post by FirstClasson Nov 08, 2022 9:09am

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Post# 35081478

Banxa misses fiscal 2022 filing deadline, receives CTO , .

Banxa misses fiscal 2022 filing deadline, receives CTO

2022-11-04 13:57 ET - News Release

Mr. Domenic Carosa reports

BANXA CTO UPDATE

Banxa Holdings Inc. is delayed in filing its audited annual financial statements for the fiscal year ended June 30, 2022, with a filing deadline of Oct. 28, 2022.

The company has received a cease trade order (CTO) from the British Columbia Securities Commission (BCSC). The annual audit is taking longer than expected and the company's auditor, RSM Canada, will require more time to complete the audit.

Domenic Carosa, founder and chairman of the company, stated: "The business is continuing to trade as normal, and the business is well financed to support its operations with approximately $12-million (Australian) in cash and cash equivalents on the balance sheet. Our finance teams in Australia and Canada are working hard and fully co-operating with the auditors to ensure we file the highest-quality set of financial statements."

The company expects to update shareholders in the coming five to 10 business days.

We seek Safe Harbor.