Starrex International Announces Inability To File Q2 Financials on Time
Starrex International (CSE:STX)(OTCQB:STXMF) has announced its inability to file Q2 financials for the period ended June 30, 2024, by the August 29, 2024 deadline. The company expects a cease trade order to be issued and its stock to remain halted until the financial statements are filed. Starrex is also involved in ongoing litigation that has materially adversely impacted its financial position. The company cannot provide assurance on the timing of filing compliance or litigation developments. Starrex will update the market when it has a better understanding of when it can meet filing requirements and on further litigation developments.
Starrex International (CSE:STX)(OTCQB:STXMF) ha annunciato la sua impossibilità di presentare i bilanci del secondo trimestre per il periodo terminato il 30 giugno 2024, entro la scadenza del 29 agosto 2024. L'azienda si aspetta che venga emesso un ordine di cessazione delle negoziazioni e che il suo stock rimanga sospeso fino alla presentazione dei bilanci. Starrex è anche coinvolta in una litigazione in corso che ha impattato materialmente in modo negativo la sua posizione finanziaria. L'azienda non può fornire garanzie sui tempi di conformità per la presentazione o sugli sviluppi della litigazione. Starrex aggiornerà il mercato non appena avrà una comprensione migliore di quando potrà soddisfare i requisiti di presentazione e sui futuri sviluppi della litigazione.
Starrex International (CSE:STX)(OTCQB:STXMF) ha anunciado su imposibilidad de presentar los estados financieros del segundo trimestre para el período que finalizó el 30 de junio de 2024, antes de la fecha límite del 29 de agosto de 2024. La compañía espera que se emita una orden de cese de operaciones y que su acción permanezca detenida hasta que se presenten los estados financieros. Starrex también está involucrada en una litigio en curso que ha impactado materialmente de manera negativa su situación financiera. La compañía no puede garantizar el momento del cumplimiento de la presentación o los desarrollos del litigio. Starrex actualizará al mercado cuando tenga una mejor comprensión de cuándo podrá cumplir con los requisitos de presentación y sobre los desarrollos adicionales del litigio.
Starrex International (CSE:STX)(OTCQB:STXMF)는 2024년 6월 30일에 종료된 기간의 2분기 재무 보고서를 제출할 수 없음을 발표했습니다. 제출 기한인 2024년 8월 29일까지입니다. 회사는 거래 중단 명령이 발행될 것으로 예상하고 있으며, 재무 보고서가 제출될 때까지 주식 거래가 중단될 것이라고 합니다. Starrex는 법적 분쟁에도 연루되어 있으며, 이는 재무 상태에 중대한 부정적 영향을 미쳤습니다. 회사는 제출 준수 및 법적 분쟁의 발전에 대한 타이밍을 보장할 수 없습니다. Starrex는 제출 요건을 충족할 수 있는 시점과 추가 법적 발전에 대한 이해가 더 깊어지면 시장에 업데이트할 것입니다.
Starrex International (CSE:STX)(OTCQB:STXMF) a annoncé son incapacité à déposer les états financiers du deuxième trimestre pour la période se terminant le 30 juin 2024, avant la date limite du 29 août 2024. La société s'attend à ce qu'un ordre d'arrêt des transactions soit émis et que son action reste suspendue jusqu'à ce que les états financiers soient déposés. Starrex est également impliquée dans un litige en cours qui a matériellement affecté de manière négative sa position financière. La société ne peut garantir le délai de conformité des dépôts ou les évolutions litigieuses. Starrex mettra à jour le marché dès qu'elle aura une meilleure compréhension du moment où elle pourra répondre aux exigences de dépôt et des développements complémentaires dans le cadre des litiges.
Starrex International (CSE:STX)(OTCQB:STXMF) hat seine Unfähigkeit zur Einreichung der Q2-Finanzen für den Zeitraum zum 30. Juni 2024 bekannt gegeben, bis zur Frist am 29. August 2024. Das Unternehmen erwartet, dass eine Handelsstopp-Anordnung erlassen wird und dass seine Aktie weiterhin ausgesetzt bleibt, bis die Finanzberichte eingereicht werden. Starrex ist auch in laufende Rechtsstreitigkeiten verwickelt, die sich wesentlich nachteilig auf die finanzielle Lage ausgewirkt haben. Das Unternehmen kann keine Zusicherung über den Zeitpunkt der Einhaltung der Einreichung oder der Entwicklungen in den Rechtsstreitigkeiten geben. Starrex wird den Markt informieren, sobald es ein besseres Verständnis dafür hat, wann es die Einreichungsanforderungen erfüllen kann und über weitere Entwicklungen in den Rechtsstreitigkeiten.
- None.
- Failure to file Q2 financials on time
- Expected cease trade order
- Stock trading to remain halted
- Ongoing litigation materially adversely impacting financial position
- Uncertainty regarding timing of financial statement filing compliance
CALGARY, AB / ACCESSWIRE / August 28, 2024 / Starrex International, Ltd. ("Starrex" or the "Company") (CSE:STX)(OTCQB:STXMF) announces that it will not be in a position to file its quarterly financial statements and MD&A as for the three and six months ended June 30, 2024, by August 29, 2024, as required in accordance with Canadian securities laws.
The Company anticipates a cease trade order will be issued in due course following its failure to file the financial statements. The Company will update the market as it gains a better sense of when it will be able to comply with the financial statement filing requirements, however, it expects that its stock will remain halted.
In addition, the Company advises that it continues to pursue litigation as disclosed in its Interim Consolidated Condensed Financial Statements for the period ended March 31, 2024, and previous press releases, and that this activity has had a material adverse impact on the financial position of the Company.
The Company will update the market as it gains a better sense of when it will be able to comply with the financial statement filing requirements and further developments in the litigation, however, it expects that its stock will remain halted until such time as its financial statements have been filed and the anticipated cease trade order has been lifted. The Company does not provide any assurance as to the timing or certainty of such matters.
For further information please contact:
Charles Burns, Interim CEO: cburns@bayshore.ca or Debbie Merritt, Chief Financial Officer of Starrex, at (281) 406-8621, email address: dmerritt@starrexintl.com
Additional Information
Additional information relating to Starrex and other public filings, is available on SEDAR at www.sedarplus.ca.
Forward Looking Statements
This news release contains forward-looking statements relating to operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release.
Forward-looking information reflects current expectations of management regarding future as of the date of this news release. Such information involves significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information, including, without limitation: the risk that Starrex may not file its Q2 financial statements or be able to have an anticipated cease trade order lifted. Should any of the foregoing risks materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance, activities or achievements could vary materially from those expressed or implied by any forward-looking information contained in this news release. Readers are cautioned that the foregoing list of risks is not exhaustive.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Starrex. The forward-looking information is made as of the date of this news release and Starrex assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Starrex International, Ltd
View the original press release on accesswire.com
FAQ
Why is Starrex International (STXMF) unable to file its Q2 2024 financials on time?
What are the consequences of Starrex International (STXMF) not filing its Q2 2024 financials on time?
How is the ongoing litigation affecting Starrex International (STXMF)?
When will Starrex International (STXMF) be able to file its Q2 2024 financials?
