Aion Therapeutic Provides Bi-Weekly MCTO Status Update
Aion Therapeutic (CSE: AION) provides a bi-weekly update regarding its management cease trade order (MCTO) issued by the British Columbia Securities Commission on August 29, 2024. The company has delayed filing its annual financial statements for the year ended April 30, 2024, and subsequent interim financial statements for the period ended July 31, 2024. The delay is attributed to complexities in the accounting process following the acquisition of Toppen Health, Inc. on December 15, 2023. The BCSC has extended the filing deadline to October 28, 2024, which the company expects to meet. The interim filings are expected to be completed within five business days after the annual filings.
Aion Therapeutic (CSE: AION) fornisce un aggiornamento bisettimanale riguardante l'ordine di sospensione del commercio da parte della British Columbia Securities Commission emesso il 29 agosto 2024. L'azienda ha ritardato la presentazione dei suoi bilanci finanziari annuali per l'anno concluso il 30 aprile 2024, e dei bilanci finanziari intermedi per il periodo concluso il 31 luglio 2024. Il ritardo è attribuito alle complessità nel processo contabile a seguito dell'acquisizione di Toppen Health, Inc. avvenuta il 15 dicembre 2023. La BCSC ha prorogato la scadenza per la presentazione dei documenti al 28 ottobre 2024, termine che l'azienda prevede di rispettare. Si prevede che le presentazioni intermedie vengano completate entro cinque giorni lavorativi dopo le presentazioni annuali.
Aion Therapeutic (CSE: AION) proporciona una actualización quincenal sobre su orden de cese de comercio (MCTO) emitido por la Comisión de Valores de British Columbia el 29 de agosto de 2024. La empresa ha retrasado la presentación de sus estados financieros anuales para el año finalizado el 30 de abril de 2024, y los subsiguientes estados financieros interinos para el período terminado el 31 de julio de 2024. El retraso se atribuye a las complejidades en el proceso contable tras la adquisición de Toppen Health, Inc. el 15 de diciembre de 2023. La BCSC ha ampliado la fecha límite de presentación hasta el 28 de octubre de 2024, que la empresa espera cumplir. Se espera que las presentaciones interinas se completen dentro de cinco días hábiles después de las presentaciones anuales.
Aion Therapeutic (CSE: AION)는 2024년 8월 29일 브리티시컬럼비아 증권 위원회에서 발행한 거래 중지 명령(MCTO)에 대한 격주 업데이트를 제공합니다. 이 회사는 2024년 4월 30일 종료된 연간 재무제표와 2024년 7월 31일 종료된 중간 재무제표 제출을 지연했습니다. 지연은 2023년 12월 15일 Toppen Health, Inc. 인수 이후 회계 처리의 복잡성 때문입니다. BCSC는 제출 기한을 2024년 10월 28일로 연장했으며, 회사는 이를 준수할 것으로 예상하고 있습니다. 중간 제출물은 연간 제출 후 5영업일 이내에 완료될 것으로 예상됩니다.
Aion Therapeutic (CSE: AION) fournit une mise à jour bihebdomadaire concernant son ordre de cessation de négociation (MCTO) émis par la Commission des valeurs mobilières de la Colombie-Britannique le 29 août 2024. La société a retardé le dépôt de ses états financiers annuels pour l'exercice clos le 30 avril 2024, ainsi que les états financiers intermédiaires pour la période close le 31 juillet 2024. Ce retard est attribué à des complexités dans le processus comptable suite à l'acquisition de Toppen Health, Inc. le 15 décembre 2023. La BCSC a prolongé la date limite de dépôt au 28 octobre 2024, date que la société prévoit de respecter. Les dépôts intermédiaires devraient être achevés dans les cinq jours ouvrables suivant les dépôts annuels.
Aion Therapeutic (CSE: AION) gibt ein zweiwöchentliches Update zu seiner Handelsstopp-Anordnung (MCTO), die von der British Columbia Securities Commission am 29. August 2024 ausgesprochen wurde. Das Unternehmen hat die Einreichung seiner Jahresabschlüsse für das am 30. April 2024 endende Geschäftsjahr sowie die nachfolgenden Zwischenabschlüsse für den Zeitraum bis zum 31. Juli 2024 verzögert. Die Verzögerung wird auf die Komplexität des Rechnungswesens nach der Übernahme von Toppen Health, Inc. am 15. Dezember 2023 zurückgeführt. Die BCSC hat die Frist für die Einreichung auf den 28. Oktober 2024 verlängert, die das Unternehmen voraussichtlich einhalten kann. Die Zwischenberichte werden voraussichtlich innerhalb von fünf Werktagen nach den Jahresabschlüssen fertiggestellt.
- None.
- Company failed to file annual financial statements by required deadline
- Additional delay in filing quarterly financial statements
- Management Cease Trade Order (MCTO) remains in effect
- Ongoing accounting complexities affecting timely financial reporting
Toronto, Ontario--(Newsfile Corp. - October 24, 2024) - Aion Therapeutic Inc. (CSE: AION) ("Aion Therapeutic" or the "Company") is providing this bi-weekly update on the status of its management cease trade order issued on August 29, 2024 (the "MCTO"), by its principal regulator, the British Columbia Securities Commission (the "BCSC"), under National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company announced on August 14, 2024 (the "Default Announcement"), that it expected to be unable to file its annual audited consolidated financial statements for the financial year ended April 30, 2024, the related annual management's discussion and analysis and the related CEO and CFO certifications (collectively, the "Annual Filings") by the filing deadline of August 28, 2024 (the "Filing Deadline") and last provided an update on the status of the MCTO on October 10, 2024.
As a result of the delay in filing the Annual Filings, the Company was unable to file its unaudited interim financial statements, related management's discussion and analysis and CEO and CFO certifications for the three months ended July 31, 2024 (the "Interim Filings", and together with the Annual Filings, the "Required Documents"). Under National Instrument 51-102 - Continuous Disclosure Obligations, the Interim Filings were required to be made no later than September 30, 2024.
As a result of certain complexities associated with the acquisition of Toppen Health, Inc. on December 15, 2023, the accounting and audit process remains ongoing at this time. The BCSC has given the Company until October 28, 2024 to complete its Annual Filings, which the Company anticipates being in a position to meet, barring any unforeseen delays. The Company anticipates completing the Interim Filings within five business days after the Annual Filings are filed.
The Company confirms that, other than as set out above, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default with respect to the Required Documents; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Documents; (iii) the Company confirms as of the date of this news release, that there is no insolvency proceeding against it; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Aion Therapeutic Inc.
Aion Therapeutic is a forward-thinking business within the health and wellness sector with a diverse portfolio of intellectual property. With a commitment to innovation and transformative solutions, the Company is poised to drive positive change to redefine the boundaries of health and wellness.
Toppen, a wholly-owned subsidiary of Aion Therapeutic, is a US-based health and wellness company dedicated to delivering state-of-the-art water filtration solutions. With a focus on innovation, affordability, and sustainability, Toppen's water filtration solutions are designed to meet the diverse needs of consumers, businesses, and industries around the world as they strive to provide access to clean and safe water.
For further information, please contact:
Aion Therapeutic Inc.
Graham Simmonds
Executive Chair & CEO
(416) 843-2881
DISCLAIMER & READER ADVISORY
This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking statements in this press release include statements regarding: Aion Therapeutic and Toppen's business, business goals and management's expectation on the growth and performance of its business; the preparation and timing of filing the Required Documents. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information, such as, without limitation, the risk that the parties will be unable to complete, in a timely manner, the Required Documents.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227715
FAQ
When will Aion Therapeutic (ANTCF) file its 2024 annual financial statements?
Why is Aion Therapeutic (ANTCF) delayed in filing its financial statements?
When will Aion Therapeutic (ANTCF) file its Q1 2024 interim financial statements?
