Alset AI Provides Bi-Weekly MCTO Status Report
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) has provided a bi-weekly status update regarding its Management Cease Trade Order (MCTO) granted by the British Columbia Securities Commission on January 29, 2025. The MCTO restricts the CEO and CFO from trading company securities until the company files its required annual financial documents for the year ended September 30, 2024.
The company expects to file the required documents, including audited financial statements, management discussion and analysis, and executive certifications, by March 11, 2025. The MCTO does not affect shareholders' ability to trade securities. Management confirms there have been no material changes or defaults beyond those previously disclosed, and they continue to work with auditors to complete the necessary filings.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) ha fornito un aggiornamento bi-settimanale riguardo il suo Ordine di Sospensione della Negoziazione da parte della Direzione (MCTO) concesso dalla British Columbia Securities Commission il 29 gennaio 2025. L'MCTO limita il CEO e il CFO dal commercio di titoli aziendali fino a quando l'azienda non presenterà i documenti finanziari annuali richiesti per l'anno conclusosi il 30 settembre 2024.
L'azienda prevede di presentare i documenti richiesti, inclusi i bilanci auditati, la discussione e analisi della direzione e le certificazioni esecutive, entro il 11 marzo 2025. L'MCTO non influisce sulla capacità degli azionisti di negoziare titoli. La direzione conferma che non ci sono state modifiche materiali o inadempienze oltre a quelle già divulgate in precedenza, e continuano a collaborare con i revisori per completare le necessarie presentazioni.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) ha proporcionado una actualización quincenal sobre su Orden de Suspensión de Negociación por parte de la Dirección (MCTO) otorgada por la Comisión de Valores de Columbia Británica el 29 de enero de 2025. El MCTO restringe al CEO y al CFO de negociar valores de la empresa hasta que la compañía presente los documentos financieros anuales requeridos para el año que terminó el 30 de septiembre de 2024.
La empresa espera presentar los documentos requeridos, incluidos los estados financieros auditados, la discusión y análisis de la dirección, y las certificaciones ejecutivas, para el 11 de marzo de 2025. El MCTO no afecta la capacidad de los accionistas para negociar valores. La dirección confirma que no ha habido cambios materiales o incumplimientos más allá de los ya divulgados anteriormente, y continúan trabajando con los auditores para completar las presentaciones necesarias.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF)는 2025년 1월 29일 브리티시컬럼비아 증권위원회에서 승인한 경영 중단 거래 명령(MCTO)에 대한 격주 상태 업데이트를 제공했습니다. MCTO는 CEO와 CFO가 2024년 9월 30일에 종료된 회계연도에 대한 필수 연간 재무 문서를 제출할 때까지 회사 증권 거래를 제한합니다.
회사는 감사된 재무제표, 경영진 논의 및 분석, 임원 인증서를 포함한 필수 문서를 2025년 3월 11일까지 제출할 것으로 예상하고 있습니다. MCTO는 주주가 증권을 거래하는 능력에 영향을 미치지 않습니다. 경영진은 이전에 공개된 사항 외에 중요한 변경 사항이나 기본적인 위반이 없다고 확인하며, 필요한 제출을 완료하기 위해 감사인과 계속 협력하고 있습니다.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) a fourni une mise à jour bi-hebdomadaire concernant son Ordre de Suspension de Négociation de Direction (MCTO) accordé par la Commission des Valeurs Mobilières de la Colombie-Britannique le 29 janvier 2025. Le MCTO restreint le PDG et le DAF de négocier des titres de l'entreprise jusqu'à ce que celle-ci dépose les documents financiers annuels requis pour l'exercice clos le 30 septembre 2024.
L'entreprise s'attend à déposer les documents requis, y compris les états financiers audités, la discussion et l'analyse de la direction, et les certifications exécutives, d'ici le 11 mars 2025. Le MCTO n'affecte pas la capacité des actionnaires à négocier des titres. La direction confirme qu'il n'y a eu aucun changement matériel ou défaut au-delà de ceux déjà divulgués, et elle continue à travailler avec les auditeurs pour finaliser les dépôts nécessaires.
Alset AI Ventures (TSXV:GPUS)(OTC:ALSCF) hat ein zweiwöchiges Statusupdate bezüglich seiner Management-Handelsverbotanordnung (MCTO) bereitgestellt, die von der British Columbia Securities Commission am 29. Januar 2025 erteilt wurde. Das MCTO beschränkt den CEO und CFO daran, Unternehmenswerte zu handeln, bis das Unternehmen die erforderlichen jährlichen Finanzdokumente für das am 30. September 2024 endende Jahr einreicht.
Das Unternehmen erwartet, die erforderlichen Dokumente, einschließlich geprüfter Finanzberichte, Managementdiskussion und -analyse sowie Geschäftsführerzertifikate, bis zum 11. März 2025 einzureichen. Das MCTO hat keinen Einfluss auf die Fähigkeit der Aktionäre, Werte zu handeln. Das Management bestätigt, dass es keine wesentlichen Änderungen oder Verstöße über die zuvor offengelegten hinaus gegeben hat und weiterhin mit den Prüfern zusammenarbeitet, um die notwendigen Einreichungen abzuschließen.
- Expected completion of required financial filings ahead of deadline (March 11 vs March 31)
- No additional defaults or material changes reported
- Regular shareholders maintain ability to trade shares
- Company under Management Cease Trade Order (MCTO) due to delayed financial filings
- CEO and CFO restricted from trading company securities
VANCOUVER, BC / ACCESS Newswire / February 26, 2025 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC PINK: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
When will Alset AI (ALSCF) file its 2024 annual financial statements?
Does the MCTO affect ALSCF shareholders' ability to trade their shares?
What is the deadline given to ALSCF by the BCSC for filing the required documents?
What documents does ALSCF need to file to lift the MCTO?
