Fobi AI Responds To CTO (Cease Trade Order) Commitment To Financial Transparency and Audit Completion
Fobi AI has received a Cease Trade Order from regulatory authorities due to not filing their annual 2024 financial documents. CEO Rob Anson acknowledged the disappointing delay, explaining they didn't proactively file for a Management Cease Trade Order (MCTO) as they were confident in meeting the filing deadline. The company assures shareholders that management and auditors are working to complete the audit efficiently and maintain transparent communication. Updates will be provided as progress is made.
Fobi AI ha ricevuto un Ordine di Sospensione del Commercio da parte delle autorità di regolamentazione a causa della mancata presentazione dei documenti finanziari annuali del 2024. Il CEO Rob Anson ha riconosciuto il deludente ritardo, spiegando che non hanno presentato proattivamente una richiesta per un Ordine di Sospensione del Commercio per la Direzione (MCTO) poiché erano fiduciosi di rispettare la scadenza per la presentazione. L'azienda assicura agli azionisti che la direzione e i revisori stanno lavorando per completare l'audit in modo efficiente e mantenere una comunicazione trasparente. Aggiornamenti saranno forniti man mano che si registrano progressi.
Fobi AI ha recibido una Orden de Cese de Comercio por parte de las autoridades regulatorias debido a no haber presentado sus documentos financieros anuales de 2024. El CEO Rob Anson reconoció el decepcionante retraso, explicando que no solicitaron proactivamente una Orden de Cese de Comercio de Gestión (MCTO) ya que estaban confiados en cumplir con la fecha límite de presentación. La compañía asegura a los accionistas que la dirección y los auditores están trabajando para completar la auditoría de manera eficiente y mantener una comunicación transparente. Se proporcionarán actualizaciones a medida que se avance.
Fobi AI는 2024년 연간 재무 문서를 제출하지 않아 규제 당국으로부터 거래 중지 명령을 받았습니다. CEO 로브 안슨은 실망스러운 지연을 인정하며, 제출 마감일을 준수할 수 있다고 확신했기 때문에 관리 거래 중지 명령(MCTO)을 적극적으로 신청하지 않았다고 설명했습니다. 회사는 주주들에게 경영진과 감사인이 효율적으로 감사 작업을 수행하고 투명한 소통을 유지하기 위해 노력하고 있음을 알리고 있습니다. 진행 상황에 따라 업데이트가 제공될 예정입니다.
Fobi AI a reçu un Arrêt de Commerce de la part des autorités de régulation en raison de son incapacité à déposer ses documents financiers annuels 2024. Le PDG Rob Anson a reconnu ce retard décevant, expliquant qu'ils n'ont pas déposé proactivement une demande d'Arrêt de Commerce de Gestion (MCTO) car ils étaient confiants de respecter la date limite de dépôt. L'entreprise assure aux actionnaires que la direction et les auditeurs travaillent pour finaliser l'audit de manière efficace et maintenir une communication transparente. Des mises à jour seront fournies au fur et à mesure des avancées.
Fobi AI hat von den Regulierungsbehörden eine Handelsstopp-Anordnung erhalten, da sie ihre jährlichen Finanzunterlagen für 2024 nicht eingereicht haben. CEO Rob Anson räumte die enttäuschende Verzögerung ein und erklärte, dass sie keinen Antrag auf eine Management-Handelsstopp-Anordnung (MCTO) gestellt haben, da sie zuversichtlich waren, die Frist einhalten zu können. Das Unternehmen versichert den Aktionären, dass die Geschäftsführung und die Prüfer daran arbeiten, die Prüfung effizient abzuschließen und eine transparente Kommunikation aufrechtzuerhalten. Aktualisierungen werden bereitgestellt, sobald Fortschritte gemacht werden.
- None.
- Received Cease Trade Order from regulators
- Failed to file 2024 annual financial documents on time
- Failed to proactively file for MCTO protection
VANCOUVER, BC, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI:TSXV)(FOBIF: OTCQB) (the “Company” or “Fobi”), an industry leader in harnessing AI and data intelligence to enable digital transformation, acknowledges the recent issuance of a Cease Trade Order by regulatory authorities due to the non-filing of the annual 2024 financial documents.
"We want to assure our shareholders, stakeholders, and the public that the Company is fully committed to resolving this situation and completing the financial audit as quickly as possible.
Rob Anson, CEO of Fobi AI, states: “The delay in completing our 2024 annual filing is certainly disappointing. Unlike last year, we chose not to proactively file for an MCTO because we were confident in meeting our filing deadline. I want to assure you that our team and auditors are fully committed to finalizing this year’s audit as efficiently as possible. I look forward to sharing our results during the upcoming shareholder earnings call.
We understand that these developments may raise concerns among our shareholders. The Company’s management is dedicated to maintaining open lines of communication and will provide timely updates as we make progress. We appreciate the support and understanding of our shareholders during this time."
This press release is available on the Fobi website.
To download the Fobi Investor Experience Wallet Pass to get enhanced access to investor information about Fobi, please visit our Investor Experience page.
About Fobi AI
Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste at scale.
Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe, and is the largest data aggregator in Canada's hospitality & tourism industry.
For more information, please contact:
| Fobi AI Inc. | Fobi Website: www.fobi.ai | |
| Rob Anson, CEO | Facebook: @Fobiinc | |
| T: +1 877-754-5336 Ext. 3 | X: @Fobi_inc | |
| E: ir@fobi.ai | LinkedIn: @Fobiinc |
This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi's business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi's technology; and the viability of Fobi's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FAQ
Why did Fobi AI (FOBIF) receive a Cease Trade Order in 2024?
What actions is Fobi AI (FOBIF) taking to address the Cease Trade Order?
Why didn't Fobi AI (FOBIF) file for an MCTO in 2024?
