Eguana Announces Anticipated Late Filing of Annual Financial Statements
Eguana Technologies (OTCQB: EGTYF) has announced an anticipated delay in filing its annual financial statements for the year ended December 31, 2024. The company will miss the April 29, 2025 filing deadline due to recent personnel changes, specifically the departure of their CFO announced on March 11, 2025.
The company is working with reduced staff and has added additional accounting resources to support the finalization of year-end reporting. Eguana expects to complete all required filings by May 31, 2025 and has applied to the Alberta Securities Commission for a voluntary management cease trade order (MCTO). If granted, the MCTO will only restrict trading for the CEO and CFO while remaining in effect until the Annual Filings are completed.
The company commits to providing bi-weekly status updates and confirms it is not subject to any insolvency proceedings.
Eguana Technologies (OTCQB: EGTYF) ha annunciato un previsto ritardo nella presentazione del bilancio annuale relativo all'anno chiuso al 31 dicembre 2024. La società non rispetterà la scadenza del 29 aprile 2025 a causa di recenti cambiamenti nel personale, in particolare l'uscita del CFO annunciata l'11 marzo 2025.
L'azienda sta operando con personale ridotto e ha aggiunto risorse contabili supplementari per supportare la finalizzazione del rendiconto di fine anno. Eguana prevede di completare tutte le presentazioni richieste entro il 31 maggio 2025 e ha richiesto alla Alberta Securities Commission un ordine volontario di sospensione delle negoziazioni per la direzione (MCTO). Se approvato, il MCTO limiterà le negoziazioni solamente per il CEO e il CFO e resterà in vigore fino al completamento delle presentazioni annuali.
La società si impegna a fornire aggiornamenti sullo stato ogni due settimane e conferma di non essere soggetta a procedure di insolvenza.
Eguana Technologies (OTCQB: EGTYF) ha anunciado un retraso previsto en la presentación de sus estados financieros anuales correspondientes al año terminado el 31 de diciembre de 2024. La compañía no cumplirá con la fecha límite del 29 de abril de 2025 debido a recientes cambios en el personal, específicamente la salida de su CFO anunciada el 11 de marzo de 2025.
La empresa está operando con un equipo reducido y ha incorporado recursos contables adicionales para apoyar la finalización del informe de fin de año. Eguana espera completar todas las presentaciones requeridas para el 31 de mayo de 2025 y ha solicitado a la Comisión de Valores de Alberta una orden voluntaria de suspensión de operaciones para la gerencia (MCTO). Si se concede, el MCTO solo restringirá las operaciones del CEO y CFO y permanecerá vigente hasta que se completen las presentaciones anuales.
La compañía se compromete a proporcionar actualizaciones de estado quincenales y confirma que no está sujeta a ningún procedimiento de insolvencia.
Eguana Technologies (OTCQB: EGTYF)는 2024년 12월 31일 종료된 연도에 대한 연간 재무제표 제출이 지연될 예정임을 발표했습니다. 2025년 4월 29일 제출 마감일을 맞추지 못하는 이유는 최근 인사 변동, 특히 2025년 3월 11일 발표된 CFO의 퇴임 때문입니다.
회사는 인원이 감소한 상태로 운영 중이며, 연말 보고서 마무리를 지원하기 위해 추가 회계 인력을 투입했습니다. Eguana는 모든 필수 제출을 2025년 5월 31일까지 완료할 계획이며, Alberta 증권위원회에 자발적 경영진 거래중지명령(MCTO)을 신청했습니다. 승인될 경우 MCTO는 CEO와 CFO의 거래만 제한하며, 연례 제출 완료 시까지 유효합니다.
회사는 2주마다 진행 상황을 업데이트할 것을 약속하며, 현재 파산 절차 대상이 아님을 확인했습니다.
Eguana Technologies (OTCQB : EGTYF) a annoncé un retard prévu dans le dépôt de ses états financiers annuels pour l'exercice clos le 31 décembre 2024. La société ne respectera pas la date limite du 29 avril 2025 en raison de récents changements de personnel, notamment le départ de son directeur financier annoncé le 11 mars 2025.
L'entreprise fonctionne avec un effectif réduit et a ajouté des ressources comptables supplémentaires pour soutenir la finalisation du rapport de fin d'année. Eguana prévoit de compléter tous les dépôts requis d'ici le 31 mai 2025 et a demandé à la Commission des valeurs mobilières de l'Alberta une ordonnance volontaire de suspension des transactions pour la direction (MCTO). Si elle est accordée, la MCTO ne limitera les transactions que pour le PDG et le directeur financier, et restera en vigueur jusqu'à la finalisation des dépôts annuels.
La société s'engage à fournir des mises à jour bihebdomadaires sur l'état d'avancement et confirme qu'elle n'est soumise à aucune procédure d'insolvabilité.
Eguana Technologies (OTCQB: EGTYF) hat eine erwartete Verzögerung bei der Einreichung des Jahresabschlusses für das am 31. Dezember 2024 endende Geschäftsjahr bekannt gegeben. Das Unternehmen wird die Frist am 29. April 2025 aufgrund kürzlicher personeller Veränderungen, insbesondere des am 11. März 2025 angekündigten Ausscheidens des CFO, nicht einhalten.
Das Unternehmen arbeitet mit reduziertem Personal und hat zusätzliche Buchhaltungskräfte hinzugezogen, um die Fertigstellung des Jahresabschlusses zu unterstützen. Eguana erwartet, alle erforderlichen Einreichungen bis zum 31. Mai 2025 abzuschließen und hat bei der Alberta Securities Commission eine freiwillige Handelsaussetzung für das Management (MCTO) beantragt. Wird diese genehmigt, beschränkt sich die MCTO nur auf den Handel des CEO und CFO und bleibt bis zum Abschluss der Jahresberichte in Kraft.
Das Unternehmen verpflichtet sich, alle zwei Wochen Statusupdates bereitzustellen und bestätigt, dass keine Insolvenzverfahren gegen es laufen.
- Company actively recruiting for CFO position
- Additional accounting resources added to support financial reporting
- Company remains solvent and operational
- CFO departure causing operational disruption and filing delays
- Risk of potential cease trade order if MCTO application is unsuccessful
- Finance team operating with reduced staff capacity
Calgary, Alberta--(Newsfile Corp. - April 23, 2025) - Eguana Technologies Inc. (TSXV: EGT) (OTCQB: EGTYF) ("Eguana" or the "Company"), a leading developer and manufacturer of high-performance energy storage systems, announces today that the Company is anticipating a delay in filing its annual financial statements for the year ended December 31, 2024 (the "Financial Statements"), the management's discussion and analysis relating to the Financial Statements, and CEO and CFO certifications relating to the Financial Statements (collectively, the "Annual Filings"), by the filing deadline on April 29, 2025 (the "Filing Deadline"), as required by National Instrument 51-102 Continuous Disclosure Obligations.
The reason for the anticipated delay is due to recent personnel changes within the Company's finance team, causing delays with the completion of the audit. The Company's finance team has been working with reduced staff, related to the departure of the CFO, which was announced in the Company's news released dated March 11, 2025. Management has been working to fill the vacancy for the CFO role and additional accounting and financial reporting resources have been added to support the finalization of the necessary year end accounting and reporting. The Company is working diligently to complete all year end working papers, any accounting entries and the financial statements and management discussion and analysis documents, by May 31, 2025. The Company will issue bi-weekly updates on the progress to completion of the Annual Filings.
Accordingly, the Company has applied to the Alberta Securities Commission, as its principal regulator and other applicable securities regulators, for a voluntary management cease trade order (the "MCTO"). If granted, the MCTO will stay in effect until the Annual Filings are filed. The issuance of the MCTO, if issued, does not affect the ability of persons other than the CEO and the CFO of the Company to trade in the Company's securities. The application for the MCTO remains subject to the risk factors described in "Forward Looking Information" below, including the risk that the MCTO application may not be successful or may not be completed prior to a securities commission issuing a failure-to-file cease trade order against the Company following the Filing Deadline.
With respect to late filing (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under National Policy 12-203 Management Cease Trade Orders and issue bi-weekly default status reports for so long as the delay in filing the Annual Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Annual Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About Eguana Technologies Inc.
Eguana's vision is to build the grid of the future by delivering flexible, modular, and cost-effective alternatives to traditional grid upgrades. Our technology provides value to all key stakeholders - from the consumer, to the electricity retailer, the distribution utility, and the system operator. Since 1998, Eguana Technologies has connected utilities with consumers through its high-performance commercial and residential energy storage solutions. The Eguana product suite has been designed from the ground up with both the end user and the utility in mind to transition the power grid seamlessly. Manufactured in local facilities across the globe to ensure compliance and quality, Eguana's standardized platform allows the flexibility to ensure each product solution is optimized for use in major grid modernization markets.
To learn more, visit www.EguanaTech.com or follow us on LinkedIn and @EguanaTech on X.
Company Inquiries
Justin Holland, CEO
Eguana Technologies Inc.
+1.416.728.7635
Justin.Holland@EguanaTech.com
Forward Looking Statements
The reader is advised that all information herein, other than statements of historical fact, may constitute forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning assigned by National Instrument 51-102 - Continuous Disclosure Obligations and other relevant securities legislation. In particular, forward-looking statements include, among other things, the risk that the Annual Filings are filed later than anticipated, the risk that the Company's application for an MCTO is not completed shortly or is not successful for any reason, in which case there is a risk that trading in the Company's securities may halted by the TSX Venture Exchange (the "TSXV") and/or cease traded temporarily by the Canadian securities commissions after the Filing Deadline until such time as the Annual Filings are filed on SEDAR+.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties. Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by forward-looking statements. Such factors include, but are not limited to, the factors set out in the "Risk Factors" section of the Company's management's discussion and analysis for the three and nine months ended September 30, 2024 and Company's management's discussion and analysis for the year ended December 31, 2023, which may be found on its website or at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249457
FAQ
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