StageZero Life Sciences Announces Update on Filing of Full Year 2023 Financials Under the Failure To File Cease Trade Order
StageZero Life Sciences, an integrated healthcare company specializing in mRNA gene expression multi-cancer diagnostics, announced updates on its 2023 financial filings under a Failure to File Cease Trade Order (FFCTO). The company had previously delayed filing due to insufficient funds to pay auditors. The Ontario Securities Commission granted StageZero until July 8, 2024, to file its year-end financials for automatic revocation of the FFCTO. Although the audit and associated documents, including MD&A and AIF, are nearly complete, final payment to auditors is still pending. The company is also compliant with its Q1 2024 financials. The FFCTO bans trading of StageZero's securities in Canada until the filing is completed and the FFCTO is revoked.
- The company has nearly completed the audit and associated documents.
- StageZero is compliant with its interim Q1 2024 financial filings.
- StageZero is under a Failure to File Cease Trade Order (FFCTO).
- Insufficient funds delayed the completion of the 2023 financial audit.
- Full payment to auditors is not yet completed, delaying final filing.
TORONTO, ON / ACCESSWIRE / July 9, 2024 / StageZero Life Sciences, Ltd. (TSX:SZLS)(OTC PINK:SZLSF) ("StageZero" or the "Company"), an integrated healthcare company with the first and only mRNA gene expression multi-cancer diagnostic for screening for multiple, key cancers from a single sample of blood - Aristotle, and an oncologist-led adjunctive metabolic 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, April 9, 2024, May 23, 2024 and July 3, 2024, an update regarding its progress toward filing the full year 2023 financials and associated documents. The Company is 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 Ontario Securities Commission grants a company 90 days to complete the filing once a failure to file cease trade order has been enacted with automatic revocation of the FFCTO. Filing after 90 days requires an application, with fees, to be made to revoke the FFCTO. The Ontario Securities Commission advised StageZero that the Company had until July 8th to file its year end financials and associated documents to meet the 90 day automatic revocation criteria. The Company has essentially completed the audit as well as MD&A, AIF and associated documents. Full payment of the fees is in process but has not yet been completed. Full payment must be done before the filing can be made. Additionally, the Company is in compliance with filing of its interim Q1 2024 financials and associated documents, as per regulation.
The Company is working diligently on completing payment to the auditors and will advise when complete and application is being made to revoke the FFCTO.
The FFCTO prohibits any trading of securities, 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 have a revocation of the FFCTO.
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 or that the Company will have the financial resources to meet its obligations with the auditors prior to that deadline. 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 Ltd
View the original press release on accesswire.com
FAQ
What is the current status of StageZero Life Sciences' 2023 financial filings?
Why is StageZero Life Sciences under a Failure to File Cease Trade Order (FFCTO)?
When was the deadline for StageZero Life Sciences to file its 2023 financials for automatic revocation of the FFCTO?
Is StageZero Life Sciences compliant with its Q1 2024 financial filings?
What are the implications of the Failure to File Cease Trade Order (FFCTO) for StageZero Life Sciences?
