Perk Labs Inc. Provides Update on Status of MCTO
Perk Labs has updated the status of its Management Cease Trade Order (MCTO) granted by the British Columbia Securities Commission on April 3, 2024. The company has applied for an extension due to delays in preparing audited financial statements for the year ending November 30, 2023. This affects the CEO and CFO's trading abilities but not other shareholders. Since the last announcement, there have been no material changes or failures in fulfilling obligations. Perk Labs will continue issuing bi-weekly updates until compliance is achieved.
- The MCTO does not affect other shareholders' ability to trade.
- The company is actively working with auditors to complete the financial statements.
- Perk Labs continues to comply with regulatory requirements and keeps shareholders informed.
- Delays in preparing audited financial statements for the year ended November 30, 2023.
- The need for an extension of the MCTO indicates ongoing operational challenges.
- Restricted trading for the CEO and CFO due to the MCTO could affect company leadership dynamics.
VANCOUVER, BC / ACCESSWIRE / May 29, 2024 / Perk Labs Inc. (CSE:PERK)(OTC PINK:PKLBF)(FKT:PKLB) ("Perk" or the "Company"), is providing a further update on the status of the management cease trade order (the "MCTO") that was granted by the British Columbia Securities Commission (the "BCSC") on April 3, 2024.
The Company has applied to the BCSC for an extension of the MCTO due to unexpected delays with the preparation of its audited annual financial statements and the related management's discussion and analysis for the year ended November 30, 2023,(the "Annual Filings"), which were due on April 1, 2024. The Company and its auditors continue to work diligently toward completing the Annual Filings as soon as possible.
The MCTO prohibits all trading in the capital of the Company, whether directly or indirectly, by the Company's CEO and CFO. The MCTO does not affect the ability of other shareholders to trade in the securities of the Company.
The Company confirms that since the date of the earlier announcement: (i) other than as described above, there has been no material change to the information set out in the announcement that has not been generally disclosed; (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 (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the above-noted filing requirements
About Perk Labs Inc.
Perk Labs Inc., (CSE:PERK)(OTC PINK:PKLBF)(FKT:PKLB), the owner of Getit Technologies Inc. and Perk Hero Software Inc. ("Perk Labs"), provides innovative mobile ordering and payment systems, allowing customers the ability to scan a QR code or NFC sticker to order and pay for their purchases directly from their phone. Perk Labs specializes in providing a single unified payment interface for complex purchase environments - environments that have multiple retailers processing an array of different transactions, including food and beverage purchases, merchandise sales, ticketing, registrations, donations, parking fees, and service payments. Perk Labs provides a custom-branded solution that is ideal for multi-transaction brands such as stadiums and arenas, university and college campuses, conference centers, hotels and resorts, festivals and events, and professional service companies.
For more information, contact:
Ryan Hardy
CEO
(833) 338-0299
investors@getittechnologies.io
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company's business strategies and its expectations concerning future operations, and expectations of future revenues for the Company. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
SOURCE: Perk Labs Inc.
View the original press release on accesswire.com
FAQ
What is the status of Perk Labs' MCTO as of May 29, 2024?
Why did Perk Labs request an extension for the MCTO?
Does the MCTO affect the ability of all shareholders to trade?
When were the audited financial statements for Perk Labs due?
How is Perk Labs keeping shareholders informed during the MCTO?
