- HIVE Blockchain (HIVE) experiences delays in the completion of its annual filings
- Due to a combination of factors, the company has been late to file the above financial statement
- One challenge it faces is the shorter filing deadline for non-venture issuers because of its recent listing on the NASDAQ
- The second challenge is the rapid increase in its growth and the accompanying increase in the number of transactions
- In the future, HIVE is looking to give updates on the National Policy 12-203 –Management Cease Trade Orders
- HIVE Blockchain Stock is down 2.74 per cent, trading at C$3.90 at 12:35 pm EST
HIVE Blockchain Technologies (HIVE) does not expect its audited financial statements and management discussion and analysis to be released as scheduled.
The new scheduled date is July 15.
One challenge the company faces is the shorter filing deadline for non-venture issuers because of its recent listing on the NASDAQ.
Another challenge is the rapid increase in its growth and the accompanying increase in the number of transactions.
HIVE does not anticipate issues with future filings. HIVE has also made arrangements to satisfy the shorter filing periods for future year-ends, including hiring additional finance staff.
As a result of the delay, HIVE has voluntarily requested a temporary cease-trade order that prohibits certain current directors, officers and insiders of the company from trading in securities of HIVE for so long as the annual filings are not filed.
In the future, HIVE is looking to give updates on the National Policy 12-203 –Management Cease Trade Orders.
This includes issuing bi-weekly status update reports until annual filings are completed.
HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with green energy and ESG strategy. It mines Bitcoin and Ethereum using primarily clean, cheap hydroelectric power in Canada, Sweden, and Iceland.
HIVE is a growth-oriented technology stock in the emergent blockchain industry.
It owns green energy-powered data centre facilities in Canada, Sweden, and Iceland, where it prides itself on sourcing green energy to mine on the cloud.
HIVE Blockchain Technologies Ltd. (HIVE) is down 2.74 per cent, trading at C$3.90 at 12:35 pm EST.