StageZero Life Sciences Announces Update on Filing of Full Year 2023 Financials under the Failure to File Cease Trade Order

Rhea-AI Summary

StageZero Life Sciences has provided an update on the filing of its full-year 2023 financials amid a Failure to File Cease Trade Order (FFCTO) imposed by the Ontario Securities Commission (OSC). The company cited financial constraints as a reason for the delayed audit in April. With the OSC's deadline fast approaching on July 8, 2024, StageZero has nearly completed the audit and is in the process of settling auditor fees. The FFCTO restricts any trading of the company's securities in Canada until the financial documents are filed and the order is revoked.

Positive

• StageZero has nearly completed the 2023 audit.
• The company is in the process of finalizing payment to auditors.

Negative

• StageZero is under a Failure to File Cease Trade Order (FFCTO).
• The delay in filing financials was due to a lack of financial resources.
• Trading of StageZero securities is prohibited in Canada until filings are completed and the FFCTO is revoked.

TORONTO, ON / ACCESSWIRE / July 3, 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 and May 23, 2024, an update regarding its progress toward filing the full year 2023 financials and associated documents. 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 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. The Ontario Securities Commission has advised StageZero that the Company has until July 8th to file its year end financials and associated documents to meet these criteria The Company has essentially completed the audit. Full payment of the fees is in process and must be done before the filing can be made by or before July 8, 2024.

The FFCTO 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 have 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 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 impact of the Failure to File Cease Trade Order on StageZero Life Sciences (SZLSF)?

The FFCTO prohibits any trading of StageZero's securities in Canada until the financial documents are filed and the order is revoked.

Why did StageZero Life Sciences (SZLSF) delay filing its 2023 financials?

The delay was due to StageZero not having sufficient financial resources to pay auditors and complete the audit.

What is the deadline for StageZero Life Sciences (SZLSF) to file its 2023 financials?

StageZero must file its year-end financials and associated documents by July 8, 2024, to comply with the Ontario Securities Commission's requirements.

What happens if StageZero Life Sciences (SZLSF) does not file its 2023 financials by July 8, 2024?

If StageZero fails to file by the deadline, the Failure to File Cease Trade Order will remain in effect, prohibiting trading of its securities in Canada.

Has StageZero Life Sciences (SZLSF) completed the audit for its 2023 financials?

StageZero has nearly completed the audit and is in the process of finalizing payment to the auditors.