GameOn Announces Late Filing of Annual Financial Statements and MD&A
GameOn Entertainment Technologies Inc. (CSE: GET, OTCQB: GMETF) announced a delay in finalizing its annual financial statements for the fiscal year ended December 31, 2022, due to ongoing audit complications. The company expects the annual filings to be completed by May 30, 2023, and has applied for a Management Cease Trade Order (MCTO) from the British Columbia Securities Commission. The delays are attributed to additional reporting requirements related to web3 revenue and a change in auditors. During the MCTO, the company’s CEO and CFO will be prohibited from trading shares, but public trading can continue. GameOn will issue bi-weekly status updates until the filings are complete, complying with alternative information guidelines outlined by securities laws.
- Expected to file annual financial statements by May 30, 2023.
- Compliant with alternative information guidelines during the MCTO period.
- Delays in filing annual financial statements raise concerns about regulatory compliance.
- Change in auditors may indicate underlying issues within the company.
Reasons for the anticipated delay include additional efforts being made with respect to the reporting of the Company's web3 related revenue and blockchain grants, as well as an upcoming change in the auditors of the Company, which is currently in progress. The Company is working diligently with its current and incoming auditors to complete the audit in a timely manner. Upon completion of the change of auditor, the Company will file the applicable materials in compliance with section 4.11 of National Instrument 51-102 – Continuous Disclosure Obligations.
The Company currently expects to file the Annual Filings on or before
During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's Chief Executive Officer and Chief Financial Officer will not be able to trade in the Company's common shares.
On Behalf of the Board of Directors:
matt@gameon.app
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