Aion Therapeutic Reports Delay in Filing 2024 Annual Financial Statements
Aion Therapeutic Inc. (CSE: AION) has announced a delay in filing its 2024 annual financial statements due by August 28, 2024. The delay is attributed to the recent acquisition of Toppen Health, Inc. on December 15, 2023, which requires additional valuations and impairment testing. The company expects to file the 2024 Financial Disclosure by the end of September 2024.
As a result, Aion Therapeutic has applied for a management cease trade order (MCTO) effective August 14, 2024, preventing management from trading company securities until the documentation is filed. The company will adhere to the Alternative Information Guidelines outlined in National Policy 12-203 during this period.
Aion Therapeutic Inc. (CSE: AION) ha annunciato un ritardo nella presentazione dei suoi bilanci finanziari annuali 2024 che scadeva il 28 agosto 2024. Il ritardo è attribuito all'acquisizione recente di Toppen Health, Inc. avvenuta il 15 dicembre 2023, che richiede ulteriori valutazioni e test di impairment. La compagnia prevede di presentare la Disclosure Finanziaria 2024 entro la fine di settembre 2024.
Di conseguenza, Aion Therapeutic ha richiesto un ordine di cessazione dell’attività di gestione (MCTO) che entrerà in vigore il 14 agosto 2024, impedendo alla direzione di scambiare le sicurezze aziendali fino alla presentazione della documentazione. L'azienda rispetterà le Linee Guida sulle Informazioni Alternative delineate nella Politica Nazionale 12-203 durante questo periodo.
Aion Therapeutic Inc. (CSE: AION) ha anunciado un retraso en la presentación de sus estados financieros anuales 2024, que debía ser entregada antes del 28 de agosto de 2024. Este retraso se atribuye a la reciente adquisición de Toppen Health, Inc. el 15 de diciembre de 2023, que requiere valoraciones adicionales y pruebas de deterioro. La compañía espera presentar la Divulgación Financiera 2024 a más tardar en septiembre de 2024.
Como resultado, Aion Therapeutic ha solicitado una orden de cese de comercio de gestión (MCTO) efectiva desde el 14 de agosto de 2024, lo que impide a la dirección comerciar con los valores de la empresa hasta que se presente la documentación. La empresa cumplirá con las Directrices de Información Alternativa establecidas en la Política Nacional 12-203 durante este período.
Aion Therapeutic Inc. (CSE: AION)은 2024년 연간 재무재표 제출이 2024년 8월 28일까지로 예정되어 있었으나 지연되었다고 발표했습니다. 이 지연은 2023년 12월 15일 Toppen Health, Inc.를 인수하면서 발생했으며, 이는 추가적인 평가 및 손상 테스트가 필요합니다. 회사는 2024년 재무 공시를 2024년 9월 말까지 제출할 것으로 예상하고 있습니다.
그 결과, Aion Therapeutic은 2024년 8월 14일부터 경영 중지 거래 명령(MCTO)를 신청하여, 이 문서가 제출될 때까지 경영진이 회사 유가증권을 거래하지 못하도록 하고 있습니다. 이 기간 동안 회사는 국가 정책 12-203에서 설명된 대체 정보 지침을 준수할 것입니다.
Aion Therapeutic Inc. (CSE: AION) a annoncé un retard dans le dépôt de ses états financiers annuels 2024, qui devaient être soumis au plus tard le 28 août 2024. Ce retard est attribué à l'acquisition récente de Toppen Health, Inc. le 15 décembre 2023, ce qui nécessite des évaluations supplémentaires et des tests de dépréciation. La société prévoit de déposer la divulgation financière 2024 d'ici fin septembre 2024.
En conséquence, Aion Therapeutic a demandé un arrêt de négociation de gestion (MCTO) entrant en vigueur le 14 août 2024, interdisant à la direction de négocier les valeurs mobilières de l'entreprise jusqu'à ce que la documentation soit déposée. L'entreprise se conformera aux Lignes directrices sur l'information alternative énoncées dans la Politique Nationale 12-203 pendant cette période.
Aion Therapeutic Inc. (CSE: AION) hat eine Verzögerung bei der Einreichung seiner Jahresabschlüsse 2024, die bis zum 28. August 2024 fällig sind, bekannt gegeben. Die Verzögerung wird auf die kürzliche Übernahme von Toppen Health, Inc. am 15. Dezember 2023 zurückgeführt, die zusätzliche Bewertungen und Wertminderungstests erfordert. Das Unternehmen erwartet, die Finanzoffenlegung 2024 bis Ende September 2024 einzureichen.
Infolgedessen hat Aion Therapeutic einen Management-Cease-Trade-Order (MCTO) beantragt, der am 14. August 2024 in Kraft tritt und das Management daran hindert, Unternehmenswerte zu handeln, bis die Dokumentation eingereicht ist. Das Unternehmen wird während dieses Zeitraums die Alternativen Informationsrichtlinien befolgen, die in der National Policy 12-203 festgelegt sind.
- None.
- Delay in filing 2024 annual financial statements
- Management cease trade order (MCTO) applied, restricting management from trading company securities
- Potential impact on investor confidence due to delayed financial disclosure
Toronto, Ontario--(Newsfile Corp. - August 14, 2024) - Aion Therapeutic Inc. (CSE: AION) ("Aion Therapeutic" or the "Company") announced today that the Company will 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 "2024 Financial Disclosure") by August 28, 2024 (the "Filing Deadline") in accordance with the requirements of National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102") and National Instrument 52-109 - Certification of Disclosure in Issuer's Annual and Interim Filings, as applicable.
On December 15, 2023 (the "Acquisition Date"), the Company completed its acquisition of Toppen Health, Inc. ("Toppen"), a limited liability company organized under the laws of the State of Wisconsin. As a result of this recent acquisition, the Company's independent auditor requires (i) a valuation of Toppen as at the Acquisition Date; (ii) a valuation of Toppen as at April 30, 2024; and (iii) an impairment testing of intangibles and goodwill of the Company as at April 30, 2024. The Company's management has been diligently working on providing its independent auditor with the necessary valuations and impairment testing. This process, which has taken a considerable amount of time, is required for the independent auditor to complete their audit report for the year ended April 30, 2024, as part of the 2024 Financial Disclosure. Consequently, the Company requires additional time to finalize and complete the 2024 Financial Disclosure.
The Company anticipates having its 2024 Financial Disclosure completed and filed as soon as possible and anticipates, in any event, filing its 2024 Financial Disclosure by the end of September, 2024.
Accordingly, the Company has applied for a management cease trade order ("MCTO") effective August 14, 2024 preventing management of the Company from trading, directly or indirectly, in the securities of the Company (except as otherwise authorized by applicable securities regulators), which will remain in place until the above-noted documentation has been filed, in accordance with the provisions of National Policy 12-203 - Management Cease Trade Orders ("NP-12-203"). Until the Company's 2024 Financial Disclosure is filed, the Company intends to satisfy the provisions of the Alternative Information Guidelines set out in NP-12-203. Furthermore, the Company's directors and officers will remain subject to a trading black-out pursuant to which such persons are prohibited from trading any securities of the Company until the end of the second full trading day following the day on which the 2024 Financial Disclosure is filed on SEDAR and a corresponding new release is issued by the Company.
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 timing of filing the 2024 Financial Disclosure; and the grant of the MCTO. 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 receive, in a timely manner, the necessary, regulatory approval of the MCTO or complete the 2024 Financial Disclosure.
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/220000
FAQ
Why is Aion Therapeutic (CSE: AION) delaying its 2024 annual financial statements?
When does Aion Therapeutic (CSE: AION) expect to file its delayed 2024 financial disclosure?
What measures has Aion Therapeutic (CSE: AION) taken due to the delay in filing financial statements?
