StageZero Life Sciences Announces Update on Failure to File Cease Trade Order
StageZero Life Sciences announced that it remains under a Failure to File Cease Trade Order (FFCTO) due to a delay in filing its 2023 year-end financials. The company cited insufficient financial resources to pay auditors as the cause of the delay. The Ontario Securities Commission has granted StageZero 90 days to rectify the situation, giving them a deadline of July 3, 2024. Despite efforts to file ahead of the deadline, StageZero will not meet the originally referenced May 31, 2024, filing date. The FFCTO prohibits any trading of the company's securities in Canada until the filings are completed and the order is revoked. StageZero confirms no other undisclosed material information about its affairs.
- The Ontario Securities Commission has granted a 90-day extension to file financials, providing more time to resolve the issue.
- StageZero is actively working to meet the new deadline ahead of July 3, 2024.
- StageZero remains under a Failure to File Cease Trade Order, halting all trading of its securities in Canada.
- The filing delay is attributed to insufficient financial resources to pay auditors, indicating potential financial instability.
- The company won't meet the originally promised May 31, 2024, filing deadline.
TORONTO, ON / ACCESSWIRE / May 23, 2024 / StageZero Life Sciences, Ltd. (TSX:SZLS)(OTCQB:SZLSF) ("StageZero" or the "Company"), an integrated healthcare company with the first and only mRNA multi-cancer diagnostic for screening for multiple, key cancers from a single sample of blood - Aristotle, and an oncologist-led adjunctive treatment protocol with early data - METRICS study - showing an improvement in outcome in cancer patients, today announced further to its press releases of April 2, 2024, April 4, 2024, and April 9, 2024 that the Company remains under a Failure to File Cease Trade Order ("FFCTO").
On April 2, 2024 the Company put out a press release announcing a delay in the filing of the 2023 year end financials and explained that due to the Company not having the financial resources to fully pay the auditors to complete the 2023 audit and thus establish an independent opinion, the financials would be delayed. The Company is working on rectifying this. The Ontario Securities Commission grants a company 90 days to complete the filing once a failure to file cease trade order has been enacted. Therefore StageZero has until July 3rd to file its year end financials and associated documents. The Company is working to file ahead of that deadline. However, the Company will not make a May 31, 2024 filing deadline as originally referenced in the press release of April 2, 2024.
The FFTCO prohibits any trading, whether direct or indirect, in respect of each security of the Company in each jurisdiction in Canada until such time as the Company is able to complete the filing of the Annual Filings and successfully apply for a revocation of the FFCTO. If the Annual Filings are made within 90 days of the date of the FFCTO, such filings will constitute the Company's application to have the FFCTO revoked.
The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.
About StageZero Life Sciences, Ltd.
StageZero Life Sciences, Ltd. is a vertically integrated healthcare company dedicated to improving the early detection and management of cancer and other chronic diseases through next-generation diagnostics and unique telehealth programs that provide clinical interventions to assist patients who currently have cancer (COC Protocol) as well as help patients reduce the risk of developing late-stage disease (AVRT™).
The Company's next generation test, Aristotle®, is the first ever mRNA multi-cancer panel for simultaneously screening for multiple cancers from a single sample of blood with high sensitivity and specificity for each cancer. Aristotle® uses mRNA technology to identify the molecular signatures of multiple cancer types and is built on the Company's patented technology platform, the Sentinel Principle. The Sentinel Principle has been validated in more than 9,000 patients and used by more than 100,000 patients in North America.
The Care Oncology Clinic offers a supervised treatment regimen (the COC Protocol) for people diagnosed with cancer of any type or stage. Developed by scientists and oncologists, the COC Protocol is intended for adjunctive administration alongside standard-of-care cancer therapy.
Aristotle®, as well as additional cancer diagnostics are processed at the Company's clinical laboratory, StageZero Life Sciences, Inc., a CAP accredited and CLIA certified high-complexity reference laboratory in Richmond, Virginia.
StageZero Life Sciences trades on the Toronto Stock exchange under the symbol SZLS and on the OTCQB under the symbol SZLSF.
Forward-Looking Statements
This press release contains forward-looking statements identified by words such as "expects", "will" and similar expressions, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties that could cause the Company's actual events to differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. There can be no assurance that the FFCTO will be revoked on the timeline contemplated by the Company. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, except as required by law.
For further information please contact:
Investor Relations
Rebecca Greco
1-855-420-7140 ext. 1838
rgreco@stagezerols.com
SOURCE: StageZero Life Sciences
View the original press release on accesswire.com
FAQ
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