RE:RE:RE:MontalvaDenial of Acceptance 3.12 The Exchange may deny acceptance of any Shares for Debt transaction if:
(a) the amount of debt is unsubstantiated by the financial statements or any other satisfactory evidence;
(b) the debt is alleged to be an accrued account but is not accounted for in the historical financial statements;
(c) the Issuer has conducted a series of Shares for Debt transactions and appears to use this procedure to raise funds rather than using other conventional methods available to it;
(d) the proposed agreement calls for the settlement of future debts by an issuance of securities at the Discounted Market Price in effect on the Agreement Date. The issuance of Shares for Debt must not be a pre-determined arrangement except in accord with section 5 of this Policy;
(e) Warrants are proposed to be issued to a Non-Arm’s Length Party as part of a Shares for Debt transaction;
(f) the debt relates to management fees of more than $2,500 per month; or
(g) the debt arises from an Investor Relations services contract.
Seems there could be a few related items here.
Possibly reasons behind the amendment of the financial disclosures, in order to comply.
https://www.tsx.com/en/resource/437#:~:text=Filing%20Requirements%20%2D%20Shares%20for%20Debt,days%20of%20the%20Agreement%20Date.