Deepspatial Announces Cease Trade Order
Deepspatial Inc. (CSE: DSAI) (OTCQB: DSAIF) has received a failure-to-file cease trade order (FFCTO) from the Ontario Securities Commission on November 1, 2024. The order stems from the company's failure to file its audited annual financial statements, MD&A, and officer certificates for the year ended June 30, 2024. The FFCTO prohibits trading of company securities in Canada through the CSE, with exceptions for certain beneficial securityholders selling through foreign regulated markets. The company cited additional complexities in preparing the annual documents and stated its intention to file them as soon as possible.
Deepspatial Inc. (CSE: DSAI) (OTCQB: DSAIF) ha ricevuto un'ordinanza di divieto di negoziazione per inadempimento di deposito (FFCTO) dalla Commissione dei valori mobiliari dell'Ontario il 1° novembre 2024. L'ordinanza deriva dal mancato deposito da parte dell'azienda dei propri bilanci annuali auditati, MD&A e certificati degli ufficiali per l'anno concluso il 30 giugno 2024. Il FFCTO proibisce la negoziazione dei titoli dell'azienda in Canada tramite il CSE, con eccezioni per alcuni detentori di titoli benefici che vendono attraverso mercati regolamentati esteri. L'azienda ha citato complessità aggiuntive nella preparazione dei documenti annuali e ha dichiarato la propria intenzione di presentarli il prima possibile.
Deepspatial Inc. (CSE: DSAI) (OTCQB: DSAIF) ha recibido una orden de cese de comercio por falta de presentación (FFCTO) de la Comisión de Valores de Ontario el 1 de noviembre de 2024. La orden se deriva de la falta de la empresa de presentar sus estados financieros anuales auditados, MD&A y certificados de funcionarios para el año que finalizó el 30 de junio de 2024. El FFCTO prohíbe el comercio de valores de la empresa en Canadá a través de la CSE, con excepciones para ciertos tenedores de valores beneficiarios que venden a través de mercados regulados en el extranjero. La empresa citó complejidades adicionales en la preparación de los documentos anuales y declaró su intención de presentarlos lo antes posible.
Deepspatial Inc. (CSE: DSAI) (OTCQB: DSAIF)는 2024년 11월 1일 온타리오 증권 위원회로부터 신고 불이행에 따른 거래 중지 명령(FFCTO)을 받았습니다. 이 명령은 회사가 2024년 6월 30일 종료 연도의 감사된 연간 재무제표, MD&A 및 임원 인증서를 제출하지 않은 것에서 비롯됩니다. FFCTO는 CSE를 통해 캐나다에서 회사 증권 거래를 금지하며, 외국 규제 시장을 통해 판매하는 특정 혜택 보유자에 대해서는 예외가 있습니다. 회사는 연간 문서를 준비하는 데 추가적인 복잡성이 있음을 언급하며 가능한 한 빨리 이를 제출하겠다는 의사를 밝혔습니다.
Deepspatial Inc. (CSE: DSAI) (OTCQB: DSAIF) a reçu un ordre de cessation de négociation pour défaut de dépôt (FFCTO) de la Commission des valeurs mobilières de l'Ontario le 1er novembre 2024. Cet ordre découle de l'incapacité de l'entreprise à déposer ses états financiers annuels audités, son MD&A et les certificats des dirigeants pour l'exercice clos le 30 juin 2024. Le FFCTO interdit la négociation des titres de l'entreprise au Canada par le biais de la CSE, avec des exceptions pour certains détenteurs de titres bénéficiaires vendant sur des marchés réglementés étrangers. L'entreprise a cité des complexités supplémentaires dans la préparation des documents annuels et a déclaré son intention de les déposer dès que possible.
Deepspatial Inc. (CSE: DSAI) (OTCQB: DSAIF) hat am 1. November 2024 eine Handelsverbot wegen Nichtmeldung (FFCTO) von der Wertpapierkommission von Ontario erhalten. Die Anordnung resultiert aus dem Versäumnis des Unternehmens, die geprüften Jahresabschlüsse, MD&A und die Unterschriftenzertifikate der Führungskräfte für das am 30. Juni 2024 endende Jahr einzureichen. Das FFCTO verbietet den Handel mit Unternehmenswertpapieren in Kanada über die CSE, mit Ausnahmen für bestimmte begünstigte Wertpapierinhaber, die über ausländisch regulierte Märkte verkaufen. Das Unternehmen nannte zusätzliche Komplikationen bei der Erstellung der Jahresunterlagen und erklärte seine Absicht, sie so schnell wie möglich einzureichen.
- None.
- Failure to file required annual financial documents on time
- Trading of company securities prohibited in Canada
- Cease trade order issued by Ontario Securities Commission
- Delays in completing annual audit
Toronto, Ontario--(Newsfile Corp. - November 4, 2024) - Deepspatial Inc. (CSE: DSAI) (OTCQB: DSAIF) ("Deepspatial" or the "Company"), an impact-driven leader inGeospatial Artificial Intelligence ("GeoAI") technology, today announced that the Ontario Securities Commission (the "OSC") issued a failure-to-file cease trade order (the "FFCTO") to the Company on November 1, 2024.
The FFCTO is a result of the Company's failure to file its audited annual financial statements (the "Annual Financial Statements"), management discussion and analysis ("MD&A") and certificates of the Chief Executive Officer and Chief Financial Officer (collectively, the "Annual Documents") for the year ended June 30, 2024.
The FFCTO prohibits the trading by any person of any securities of the Company in each jurisdiction in Canada in which the Company is a reporting issuer, including trades in the Company's securities made through the Canadian Securities Exchange (CSE), for as long as the FFCTO remains in effect.
The FFCTO provides an exception for beneficial securityholders of the Company who are not currently (and who were not as of November 1, 2024) insiders or control persons of the Company and who sell securities of the Company acquired before November 1, 2024 if both of the following criteria are met: (i) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.
Additional time is needed to complete the audit due to the additional complexities associated with filing the Annual Documents this year. The Company intends to file the Annual Documents as soon as possible and will provide updates as further information becomes available.
About Deepspatial Inc.
Deepspatial Inc. (CSE: DSAI) (OTCQB: DSAIF ) is a leading GeoAI technology company dedicated to creating socially impactful, data-driven solutions. Committed to driving positive change, Deepspatial harnesses advanced AI insights to empower communities and support sustainable development. As an impact-driven, outcome-based AI company, Deepspatial enables organizations to enhance decisionmaking capabilities through data and AI. From optimizing supply chain routes to guiding strategic development locations, Deepspatial's AI-powered platform provides clients with tools to visualize current trends, forecast future developments, analyze data, and streamline processes-ultimately enabling smarter decisions for a more sustainable future.
For more information, visit www.Deepspatial.ai and follow us on Twitter, Instagram, or LinkedIn.
For more information, please contact:
Investor Relations
Saurabh Tyagi (Investors@deepspatial.ai)
Chief Executive Officer
Dr. Rahul Kushwah
Rahul@deepspatial.ai
Tel: +1 (877) 475 1538
Caution regarding Forward Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.
Media Contact Organization:
Deepspatial Inc.
Name: Saurabh Tyagi
Website: https://www.deepspatial.ai/
Email: saurabh@deepspatial.ai
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228728
FAQ
Why did Deepspatial (DSAIF) receive a cease trade order in November 2024?
What are the restrictions under Deepspatial's (DSAIF) cease trade order?
When will Deepspatial (DSAIF) file its delayed annual financial documents?
