Cybeats Provides Required Biweekly MCTO Update
Cybeats Technologies Corp. (CSE: CYBT, OTCQB: CYBCF) has issued a bi-weekly default status update regarding its failure to file annual financial statements and related disclosures for the year ending December 31, 2023, by the April 29, 2024, deadline. This update follows previous press releases on April 18, April 30, and May 15, 2024. The company anticipates completing these filings by June 30, 2024. If this deadline is not met, Canadian Securities Regulatory Authorities may impose a cease trade order on Cybeats' outstanding securities. The company commits to providing bi-weekly updates as required under National Policy 12-203 until compliance is achieved.
- The company is transparent and committed to regular bi-weekly updates.
- Cybeats anticipates filing the required documents by June 30, 2024.
- The company is adhering to National Policy 12-203 guidelines during this period of non-compliance.
- Cybeats failed to file its annual financial statements and related disclosures by the prescribed April 29, 2024, deadline.
- Potential for an issuer cease trade order if the documents are not filed by June 30, 2024.
- Extended period of non-compliance may affect investor confidence.
Toronto, Ontario--(Newsfile Corp. - May 28, 2024) - Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) ("Cybeats'' or the "Company") announces that, further to its press releases of April 18, 2024, April 30, 2024, and May 15, 2024, the Company is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").
On April 30, 2024, the Company announced (the "Default Announcement") that it had not filed its annual financial statements and management discussion and analysis for the year ended December 31, 2023, together with the related certification of filings under National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the "Continuous Disclosure Documents") by the prescribed deadline of April 29, 2024.
Except as discussed below, there have been no material changes to the information contained in the Default Announcement or any other changes required to be disclosed under NP 12-203.
The Company anticipates that the Continuous Disclosure Documents will be filed prior to June 30, 2024. The Company will continue to provide bi-weekly updates, as contemplated by NP 12-203, until the Continuous Disclosure Documents have been filed. In the event that the Company does not file the Continuous Disclosure Documents by June 30, 2024 the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the Company. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements.
About Cybeats
Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Our platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com
SUBSCRIBE: For more information, or to subscribe to the Company's mail list, visit: https://www.cybeats.com/investors.
Contact:
James Van Staveren
Corporate Development
Phone: 1-888-713-SBOM (7266)
Email: ir@cybeats.com
Forward-Looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-Looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the products described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210882
FAQ
What is the latest update about Cybeats' default status report?
When does Cybeats anticipate filing its overdue financial statements?
What could happen if Cybeats does not file the documents by June 30, 2024?
What is National Policy 12-203?
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