Alset AI Provides Bi-Weekly MCTO Status Report
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) has provided an update regarding its Management Cease Trade Order (MCTO) status. The British Columbia Securities Commission granted the MCTO on January 29, 2025, restricting the CEO and CFO from trading company securities until required financial documents are filed.
The company must submit its annual audited financial statements for the year ended September 30, 2024, along with related management discussion, analysis, and certifications by March 31, 2025. Alset AI expects to file these documents by March 11, 2025. The MCTO does not affect regular shareholders' ability to trade securities.
The company confirms no material changes since the Default Announcement, maintaining compliance with alternative information reporting guidelines under NP 12-203. Bi-weekly status reports will continue until the required documents are filed.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) ha fornito un aggiornamento riguardo allo stato del suo Ordine di Sospensione della Negoziazione da parte della Direzione (MCTO). La Commissione per i Titoli della Columbia Britannica ha concesso l'MCTO il 29 gennaio 2025, limitando il CEO e il CFO dalla negoziazione di titoli della società fino a quando i documenti finanziari richiesti non saranno presentati.
La società deve presentare i propri bilanci annuali auditati per l'anno conclusosi il 30 settembre 2024, insieme alla relativa discussione e analisi della gestione e alle certificazioni, entro il 31 marzo 2025. Alset AI prevede di presentare questi documenti entro il 11 marzo 2025. L'MCTO non influisce sulla capacità degli azionisti ordinari di negoziare titoli.
La società conferma che non ci sono cambiamenti materiali dall'Annuncio di Default, mantenendo la conformità con le linee guida alternative per la segnalazione delle informazioni ai sensi della NP 12-203. I rapporti di stato bisettimanali continueranno fino a quando i documenti richiesti non saranno presentati.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) ha proporcionado una actualización sobre el estado de su Orden de Suspensión de Comercio por parte de la Dirección (MCTO). La Comisión de Valores de Columbia Británica otorgó el MCTO el 29 de enero de 2025, restringiendo al CEO y al CFO de negociar valores de la empresa hasta que se presenten los documentos financieros requeridos.
La empresa debe presentar sus estados financieros auditados anuales para el año que finalizó el 30 de septiembre de 2024, junto con el análisis y discusión de la gestión relacionados, y certificaciones antes del 31 de marzo de 2025. Alset AI espera presentar estos documentos para el 11 de marzo de 2025. El MCTO no afecta la capacidad de los accionistas regulares para negociar valores.
La empresa confirma que no ha habido cambios materiales desde el Anuncio de Incumplimiento, manteniendo el cumplimiento de las pautas de informes alternativos de información bajo la NP 12-203. Los informes de estado quincenales continuarán hasta que se presenten los documentos requeridos.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF)는 경영 중단 거래 명령(MCTO) 상태에 대한 업데이트를 제공했습니다. 브리티시컬럼비아 증권 위원회는 2025년 1월 29일 MCTO를 승인하여 CEO와 CFO가 필요한 재무 문서가 제출될 때까지 회사 증권 거래를 제한했습니다.
회사는 2024년 9월 30일 종료 연도의 연간 감사 재무제표와 관련된 경영 논의, 분석 및 인증서를 2025년 3월 31일까지 제출해야 합니다. Alset AI는 이러한 문서를 2025년 3월 11일까지 제출할 것으로 예상하고 있습니다. MCTO는 일반 주주가 증권을 거래하는 능력에는 영향을 미치지 않습니다.
회사는 기본 발표 이후로 중대한 변화가 없음을 확인하며, NP 12-203에 따른 대체 정보 보고 지침을 준수하고 있습니다. 필요한 문서가 제출될 때까지 격주 상태 보고서는 계속될 것입니다.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) a fourni une mise à jour concernant son statut d'Ordre de Suspension de Négociation par la Direction (MCTO). La Commission des Valeurs de la Colombie-Britannique a accordé le MCTO le 29 janvier 2025, interdisant au PDG et au directeur financier de négocier des titres de la société jusqu'à ce que les documents financiers requis soient déposés.
L'entreprise doit soumettre ses états financiers annuels audités pour l'année se terminant le 30 septembre 2024, ainsi que les discussions, analyses et certifications de gestion associées, d'ici le 31 mars 2025. Alset AI s'attend à soumettre ces documents d'ici le 11 mars 2025. Le MCTO n'affecte pas la capacité des actionnaires ordinaires à négocier des titres.
L'entreprise confirme qu'il n'y a eu aucun changement matériel depuis l'Annonce de Défaillance, maintenant la conformité avec les directives de rapport d'information alternatives selon la NP 12-203. Des rapports de statut bi-hebdomadaires continueront jusqu'à ce que les documents requis soient déposés.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) hat ein Update zu seinem Status der Management-Handelsstopps (MCTO) bereitgestellt. Die Wertpapierkommission von British Columbia hat das MCTO am 29. Januar 2025 erteilt, das den CEO und CFO daran hindert, Unternehmenswerte zu handeln, bis die erforderlichen finanziellen Dokumente eingereicht sind.
Das Unternehmen muss seine jährlichen geprüften Finanzberichte für das am 30. September 2024 endende Jahr zusammen mit den entsprechenden Managementdiskussionen, Analysen und Zertifizierungen bis zum 31. März 2025 einreichen. Alset AI erwartet, diese Dokumente bis zum 11. März 2025 einzureichen. Das MCTO hat keinen Einfluss auf die Fähigkeit der regulären Aktionäre, Wertpapiere zu handeln.
Das Unternehmen bestätigt, dass es seit der Bekanntgabe des Defaults keine wesentlichen Änderungen gegeben hat und die Einhaltung der alternativen Informationsberichterstattung gemäß NP 12-203 aufrechterhält. Die zweiwöchentlichen Statusberichte werden fortgesetzt, bis die erforderlichen Dokumente eingereicht sind.
- Company expects to file required documents ahead of deadline (March 11 vs March 31)
- MCTO does not restrict regular shareholder trading
- Company failed to file annual financial statements on time
- CEO and CFO currently restricted from trading company securities
VANCOUVER, BC / ACCESS Newswire / February 12, 2025 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC:ALSCF)(FSE:1R60, WKN:A3ESVQ) ("Alset AI" or the "Company") an artificial intelligence (AI) venture company advancing innovation through strategic investment and cloud computing solutions, announces that further to its news release dated January 29, 2025 (the "Default Announcement"), the Company's principal regulator, the British Columbia Securities Commission (the "BCSC") granted a management cease trade order (the "MCTO") on January 29, 2025, under National Policy 12-203 Management Cease Trade Orders ("NP 12-203").
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 September 30, 2024, including the related management's discussion and analysis, and CEO and CFO certifications on or before March 31, 2025 (collectively the "Required Documents") 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 staff are working diligently with its auditors and the Company anticipates that it will be in a position to file the Required Documents by March 11, 2025.
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 Default Announcement:
There have been no material changes to the information contained in the Default Announcement that would reasonably be expected to be material to an investor;
There have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative information reporting guidelines under NP 12-203;
There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and
There have been no material changes in respect of the Company's affairs that have 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 these bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the Required Documents filing requirement.
On behalf of Alset AI Ventures Inc.
"Adam Ingrao"
Adam Ingrao
Chief Executive Officer
About Alset AI Ventures Inc.
Alset AI is a pioneering AI and cloud computing investment firm, committed to nurturing high-potential technology companies. Through a combination of capital, strategic advisory, and cloud computing alliances, Alset AI is shaping the future of artificial intelligence and building an AI-focused venture capital platform poised for substantial growth.
For further information about Alset AI Ventures Inc., please contact:
Adam Ingrao, Chief Executive Officer
T: 1-236-312-6744
E: ir@alsetai.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements are often identified by words such as "expects," "intends," "anticipates," "believes," "estimates," "may," "could," "will," "plans," and similar expressions. These statements relate to future events or future performance, including, but not limited to, statements regarding the anticipated timing for filing the Required Documents, the Company's ability to remedy its filing default, the expected revocation of the MCTO, and the Company's continued compliance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). Forward-looking statements are based on the Company's current expectations, beliefs, and assumptions, including assumptions regarding the timely completion of the audit process, the ability of the Company and its auditors to meet required filing deadlines, the accuracy of management's estimates and expectations, regulatory approvals, and market conditions. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied in such statements. Factors that could cause actual results to differ materially include, but are not limited to: delays in the audit process; the Company's inability to file the Required Documents within the anticipated timeframe; regulatory or compliance issues; changes in financial reporting or disclosure standards; unanticipated requests for additional information from auditors or regulators; and other unforeseen financial, operational, or regulatory developments. Additional risk factors are outlined in the Company's public filings available on SEDAR+ (www.sedarplus.ca). The Company undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events, or otherwise, except as required by law. Investors are cautioned not to place undue reliance on forward-looking statements, as actual results may differ materially from expectations.
SOURCE: Alset AI Ventures Inc.
View the original press release on ACCESS Newswire
FAQ
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