NextGen Food Robotics Corp. Provides Second Bi-Weekly MCTO Status Update
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Frankfurt: O83) has provided its second bi-weekly status update regarding the Management Cease Trade Order (MCTO) issued on July 30, 2024. The company is delaying the filing of its annual financial documents for the fiscal year ended April 30, 2024. Initially expecting to file by August 31, 2024, then by September 16, 2024, the company now anticipates filing by September 27, 2024.
The delay is due to the auditors requiring detailed financial information from a third-party service provider, which the company cannot access or compel the third party to provide. The MCTO restricts the CEO and CFO from trading company securities until the required documents are filed and the British Columbia Securities Commission revokes the order.
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Francoforte: O83) ha fornito il suo secondo aggiornamento bi-settimanale riguardo all'Ordine di Sospensione della Negoziazione da parte della Direzione (MCTO) emesso il 30 luglio 2024. L'azienda sta rinviando la presentazione dei propri documenti finanziari annuali per l'anno fiscale chiuso il 30 aprile 2024. Inizialmente si prevedeva di presentare entro il 31 agosto 2024, poi entro il 16 settembre 2024, ma ora l'azienda si aspetta di presentare entro il 27 settembre 2024.
Il ritardo è dovuto al fatto che i revisori richiedono informazioni finanziarie dettagliate da un fornitore di servizi terzo, a cui l'azienda non ha accesso né può obbligare il terzo a fornire. L'MCTO vieta al CEO e al CFO di scambiare titoli dell'azienda fino a quando i documenti richiesti non vengono presentati e la Commissione per i Valori Mobiliari della Columbia Britannica non revoca l'ordine.
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Frankfurt: O83) ha proporcionado su segunda actualización de estado quincenal con respecto a la Orden de Suspensión de Negociación para la Dirección (MCTO) emitida el 30 de julio de 2024. La compañía está retrasando la presentación de sus documentos financieros anuales para el año fiscal que terminó el 30 de abril de 2024. Inicialmente se esperaba presentar antes del 31 de agosto de 2024, luego antes del 16 de septiembre de 2024, pero ahora la compañía anticipa presentar antes del 27 de septiembre de 2024.
El retraso se debe a que los auditores requieren información financiera detallada de un proveedor de servicios externo, al que la empresa no puede acceder ni obligar a que proporcione. El MCTO restringe al CEO y al CFO de negociar valores de la empresa hasta que se presenten los documentos requeridos y la Comisión de Valores de Columbia Británica revoque la orden.
넥스트젠 푸드 로보틱스 주식회사 (CBOE: NGRB; OTC Pink: NGRBF; 프랑크푸르트: O83)는 2024년 7월 30일에 발행된 경영 거래 중지 명령(MCTO)에 대한 두 번째 격주 상태 업데이트를 제공했습니다. 이 회사는 2024년 4월 30일 종료된 회계연도에 대한 연례 재무 문서 제출을 연기하고 있습니다. 처음에는 2024년 8월 31일까지 제출할 것으로 예상했으나, 2024년 9월 16일까지로 연기되었고, 이제 이 회사는 2024년 9월 27일까지 제출할 것으로 예상하고 있습니다.
지연은 감사인이 제3자 서비스 공급자로부터 자세한 재무 정보를 요구하기 때문이며, 이 회사는 이러한 정보에 접근할 수 없거나 제3자에게 제공하도록 강제할 수 없습니다. MCTO는 CEO 및 CFO가 필요한 문서가 제출되고 브리티시컬럼비아 증권위원회가 명령을 철회할 때까지 회사의 증권을 거래하는 것을 제한합니다.
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Francfort: O83) a fourni sa deuxième mise à jour d'état bimensuelle concernant l'Ordre d'Interdiction de Négociation de Direction (MCTO) émis le 30 juillet 2024. L'entreprise retarde la soumission de ses documents financiers annuels pour l'exercice clos le 30 avril 2024. Initialement, il était prévu de soumettre d'ici le 31 août 2024, puis d'ici le 16 septembre 2024, mais l'entreprise prévoit maintenant de soumettre d'ici le 27 septembre 2024.
Ce retard est dû au fait que les auditeurs demandent des informations financières détaillées d'un prestataire de services tiers, que l'entreprise ne peut ni accéder ni obliger à fournir. Le MCTO interdit au PDG et au CFO de négocier des titres de l'entreprise jusqu'à ce que les documents requis soient soumis et que la Commission des Valeurs Mobilières de Colombie-Britannique révoque l'ordre.
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Frankfurt: O83) hat sein zweites zweiwöchiges Statusupdate bezüglich der Management-Handelsaussetzung (MCTO), die am 30. Juli 2024 erlassen wurde, zur Verfügung gestellt. Das Unternehmen verzögert die Einreichung seiner jährlichen Finanzdokumente für das Geschäftsjahr, das am 30. April 2024 endete. Zunächst wurde erwartet, dass die Einreichung bis zum 31. August 2024 erfolgt, dann bis zum 16. September 2024; nun rechnet das Unternehmen mit einer Einreichung bis zum 27. September 2024.
Die Verzögerung ist darauf zurückzuführen, dass die Prüfer detaillierte Finanzinformationen von einem Drittanbieter verlangen, auf die das Unternehmen keinen Zugriff hat und den Drittanbieter nicht zwingen kann, sie bereitzustellen. Die MCTO beschränkt den CEO und CFO, die Wertpapiere des Unternehmens zu handeln, bis die erforderlichen Dokumente eingereicht und die British Columbia Securities Commission die Anordnung widerruft.
- None.
- Delay in filing annual financial documents
- Extended deadline for filing from September 16 to September 27, 2024
- Inability to access or obtain required financial information from third-party service provider
- Management Cease Trade Order (MCTO) restricting CEO and CFO from trading company securities
VANCOUVER, BC, Sept. 12, 2024 (GLOBE NEWSWIRE) -- NextGen Food Robotics Corp. (the “Company”) (CBOE: NGRB; OTC Pink: NGRBF; Frankfurt: O83) is providing the second bi-weekly default status report in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
On August 13, 2024, the Company announced that it applied for a management cease trade order ("MCTO") with the British Columbia Securities Commission ("BCSC") in connection with the delay in filing of its audited annual financial statements for the year ended April 30, 2024, related management discussion and analysis, CEO and CFO certificates and annual information form for the fiscal year ended April 30, 2024 (collectively, the "Required Documents") by the prescribed filing deadline (the "Original Announcement"). At that time, based on information then-available, the Company expected to file the Required Documents by August 31, 2024. The MCTO was issued on July 30, 2024 and restricts its Chief Executive Officer and Chief Financial Officer from trading in securities of the Company, whether direct or indirect, until the Company files the Required Documents and the BCSC revokes the MCTO. On August 27, 2024, in its first bi-weekly status update, the Company announced that it expected to file the Required Documents by September 16, 2024.
As of today’s date, the Company now expects that the Required Documents will be filed by September 27, 2024. The additional delay is a result of the Company’s auditors’ requirement that they be provided with certain financial information by a third-party service provider to the Company. Specifically, the Company’s auditor wishes to receive a detailed report of expenditures incurred directly by the third party in connection with services it rendered to the Company. The Company does not have access to such information, nor is it able to compel the third party to provide such information to its auditor. The Company continues to work through this issue.
The Company confirms that since the date of the Original Announcement: (i) other than as described above and in its first bi-weekly status update, there have been no changes to the information set out in the Original Announcement that would be expected to be material to an investor; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203, and, no such other default is anticipated; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms it will continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 so long as it remains in default of the requirement to file the Required Documents.
About NextGen Food Robotics
Nextgen Food Robotics operates commissary and ghost kitchens from its two locations in Vancouver, BC. Additionally, the Company is developing the “Lily app”, which is an AI-powered mobile application designed to provide personalized food recommendations and automated meal-planning.
ON BEHALF OF THE BOARD OF DIRECTORS
Paul Francisco Rivas, Chief Executive Officer
1 (236) 471-1357
privas@nextgenai.ca
Cautionary Note on Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions and in this news release include statements respecting the timing of filing of the Company’s Required Filings, and Company’s compliance with the MCTO and NP 12-203. In particular, this news release contains forward-looking information relating to the anticipated date for filing the annual financial statements for the year ended April 30, 2024, related management's discussion and analysis, related certifications for the financial year ended April 30, 2024, and the Company’s annual information form for the fiscal year ended April 30, 2024. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this news release. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
Neither the Cboe Canada nor its Market Regulator (as that term is defined in the Listing Manual of Cboe Canada) accepts responsibility for the adequacy or accuracy of this news release.
FAQ
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