BIGG Digital Assets Inc. Provides Bi-Weekly Status Update
BIGG Digital Assets Inc. announced a delay in filing its annual financial statements for the year ended December 31, 2020, now expected by May 28, 2021. The delay is attributed to the extensive audit testing related to the company's significant growth in 2020. No material changes have occurred since the initial delay announcement. The company will continue to comply with alternative information guidelines and provide bi-weekly updates until its filing obligations are met. CEO Mark Binns emphasizes the proactive measures taken to fulfill these obligations.
- Significant growth in 2020 indicating strong business performance.
- Commitment to transparency with bi-weekly status reports during the filing delay.
- Delay in filing annual financial statements could raise concerns among investors.
- Ongoing Management Cease Trade Order may affect trading and investor confidence.
VANCOUVER, British Columbia, May 14, 2021 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company") (CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), further to its news release of May 3, 2021, the Company expects to file its annual financial statements and related MD&A for the year ended December 31, 2020 (collectively, the "Annual Filings") on or about May 28, 2021. The filing delay is directly related to the volume of audit testing required given the significant growth experienced by the Company in 2020, are unique to the emerging cryptocurrency industry and are not expected to continue in the future.
BIGG confirms that since it announced a delay of its Annual Filings (the “Filings Notice”) there is no material change to the information set out in the Filings Notice that has not been generally disclosed and there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provision of the alternative information guidelines set out in NP 12-203. Management is working diligently with the Company’s auditors to meet the Company’s obligations related to its Annual Filings and that, while subject to the Management Cease Trade Order (“MCTO”), the Company will continue to comply with the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly status reports until it has satisfied the necessary filing requirements.
On behalf of the Board
Mark Binns
CEO
mark@biggdigitalassets.com
T:+1.844.515.2646
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Blockchain Intelligence Group (blockchaingroup.io) and Netcoins (netcoins.ca).
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUETM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
For more information and to register to BIGG’s mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR at www.sedar.com.
Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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