1933 Industries Provides Update on Status of Filing Delay for 4th Quarterly Report
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF), a Nevada-focused cannabis company, announced it will not meet the January 27, 2025 deadline for filing its audited financial statements for the year ended July 31, 2024, and expects to receive a Cease Trade Order. The company had previously obtained a Management Cease Trade Order (MCTO) on November 29, 2024, restricting trading by key executives including CEO Paul Rosen, CFO Brian Farrell, and Director Curtis Floyd.
The company anticipates completing the required Audited Filings in February 2025, after which the Cease Trade Order should be lifted. Additionally, the Q1 2025 financial report for the period ended October 31, 2024, will be delayed until after the completion of the Audited Filings. The company confirms no material changes or insolvency proceedings since their previous announcement.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF), una società di cannabis focalizzata sul Nevada, ha annunciato che non sarà in grado di rispettare la scadenza del 27 gennaio 2025 per la presentazione dei suoi bilanci finanziari certificati per l'anno chiuso il 31 luglio 2024, e si aspetta di ricevere un Cease Trade Order. In precedenza, la società aveva ottenuto un Management Cease Trade Order (MCTO) il 29 novembre 2024, che limitava le operazioni di trading da parte di dirigenti chiave, tra cui il CEO Paul Rosen, il CFO Brian Farrell e il Direttore Curtis Floyd.
La società prevede di completare le Filings Audit necessarie entro febbraio 2025, dopodiché il Cease Trade Order dovrebbe essere revocato. Inoltre, il rapporto finanziario del Q1 2025 per il periodo conclusosi il 31 ottobre 2024, sarà rinviato fino al completamento delle Filings Audit. La società conferma che non ci sono state modifiche sostanziali o procedure di insolvenza dalla loro precedente comunicazione.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF), una empresa de cannabis enfocada en Nevada, anunció que no cumplirá con la fecha límite del 27 de enero de 2025 para presentar sus estados financieros auditados para el año que terminó el 31 de julio de 2024, y espera recibir una Cease Trade Order. La empresa había obtenido previamente una Orden de Cese de Comercio de Administración (MCTO) el 29 de noviembre de 2024, que restringía el comercio por parte de ejecutivos clave, incluidos el CEO Paul Rosen, el CFO Brian Farrell y el Director Curtis Floyd.
La empresa anticipa completar los Archivos Auditados requeridos en febrero de 2025, después de lo cual la Cease Trade Order debería ser levantada. Además, el informe financiero del Q1 2025 para el período que finalizó el 31 de octubre de 2024, se retrasará hasta después de la finalización de los Archivos Auditados. La empresa confirma que no ha habido cambios materiales ni procedimientos de insolvencia desde su anuncio anterior.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF)는 네바다에 본사를 둔 대마초 회사로, 2024년 7월 31일 종료된 회계연도에 대한 감사 재무제표 제출 마감일인 2025년 1월 27일을 지키지 못할 것이라고 발표했으며, Cease Trade Order를 받을 것으로 예상하고 있습니다. 이 회사는 2024년 11월 29일에 CEO Paul Rosen, CFO Brian Farrell 및 이사 Curtis Floyd를 포함한 주요 경영진의 거래를 제한하는 경영 거래 중지 명령(MCTO)을 이전에 획득했습니다.
회사는 2025년 2월에 필요한 감사 제출을 완료할 계획이며, 이후 Cease Trade Order가 해제될 것으로 예상합니다. 또한 2024년 10월 31일 종료된 기간에 대한 2025년 1분기 재무 보고서는 감사 제출 완료 후까지 지연될 것입니다. 회사는 이전 공지 이후 중대한 변경 사항이나 파산 절차가 없었다고 확인합니다.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF), une entreprise de cannabis concentrée sur le Nevada, a annoncé qu'elle ne respecterait pas le délai du 27 janvier 2025 pour le dépôt de ses états financiers audités pour l'année se terminant le 31 juillet 2024 et s'attend à recevoir un Cease Trade Order. L'entreprise avait précédemment obtenu un ordre de cessation des opérations (MCTO) le 29 novembre 2024, qui limitait le trading par des dirigeants clés, y compris le PDG Paul Rosen, le CFO Brian Farrell et le Directeur Curtis Floyd.
L'entreprise anticipe de finaliser les dépôts nécessaires en février 2025, après quoi le Cease Trade Order devrait être levé. De plus, le rapport financier du T1 2025 pour la période se terminant le 31 octobre 2024 sera retardé jusqu'après l'achèvement des dépôts audités. L'entreprise confirme qu'il n'y a eu aucun changement substantiel ou procédure d'insolvabilité depuis leur précédente annonce.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF), ein auf Nevada fokussiertes Cannabisunternehmen, gab bekannt, dass es die Frist für die Einreichung seiner geprüften Finanzberichte zum 31. Juli 2024 am 27. Januar 2025 nicht einhalten wird und erwartet, eine Cease Trade Order zu erhalten. Das Unternehmen hatte zuvor am 29. November 2024 eine Management Cease Trade Order (MCTO) erhalten, die den Handel durch wichtige Führungskräfte, darunter CEO Paul Rosen, CFO Brian Farrell und Direktor Curtis Floyd, einschränkte.
Das Unternehmen rechnet damit, die erforderlichen geprüften Einreichungen im Februar 2025 abzuschließen, wonach die Cease Trade Order aufgehoben werden sollte. Darüber hinaus wird der Finanzbericht für das Q1 2025 für den Zeitraum bis zum 31. Oktober 2024 bis nach dem Abschluss der geprüften Einreichungen verschoben. Das Unternehmen bestätigt, dass es seit der letzten Ankündigung keine wesentlichen Änderungen oder Insolvenzverfahren gegeben hat.
- None.
- Company will miss January 27, 2025 filing deadline for audited financial statements
- Expected to receive a Cease Trade Order
- Q1 2025 financial report will also be delayed
- Management currently restricted from trading company securities under MCTO
VANCOUVER, BC / ACCESS Newswire / January 24, 2025 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF)(OTC PINK:TGIFF), a Nevada-focused cannabis cultivator and producer, provides an update to its news release dated November 29, 2024 (the "Announcement") announcing its request for a management cease trade order (the "MCTO") relating to the late filing of the Company's audited financial statements, management discussion & analysis and applicable CEO and CFO certifications for the year ended July 31, 2024 (the "Audited Filings").
The Company's principal regulator, the British Columbia Securities Commission (the "Commission"), granted the MCTO on November 29, 2024, under National Policy 12-203 - Management Cease Trader Orders ("NP 12-203"). Pursuant to the MCTO, Paul Rosen, Chairman and Chief Executive Officer, Brian Farrell, Chief Financial Officer, and Curtis Floyd, Director, may not trade in the securities of the Company until such time as the Company files the Audited Filings and the Commission revokes the MCTO. The Company further announces that it will not meet the filing deadline of January 27, 2025 as per mandated by the Commission and expects to receive a Cease Trade Order. The Company's Board of Directors and management are continuing to work with its accounting team and other stakeholders to prepare the Audited Filings and it is the Company's expectation that the Audited Filings will be completed during the month of February 2025, upon which the Cease Trade Order will be lifted.
The Company confirms that, since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) the Company is not subject to any insolvency proceedings as of the date of this news release and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
In addition, the Company's Q1 2025 financial report, including financial statements, management discussion & analysis and applicable CEO and CFO certifications for the year ended Oct. 31, 2024, will not be filed until the Audited Filings are filed.
About 1933 Industries Inc.
1933 Industries is a Nevada-based licensed producer, focused on the cultivation and extraction of a large portfolio of cannabis consumer products in a variety of formats under its flagship brands, Alternative Medicine Association (AMA) and Level X. Its product offerings are cultivated at the Company's 68,000 sq. ft. indoor facility and marketed directly to retail dispensaries. AMA branded flower, infused pre-rolls, and in-house boutique concentrates consistently rank as the top products sold in Nevada. For more information, please visit www.1933industries.com
For further information please contact:
Alexia Helgason, VP, Investor Relations
604-728-4407
alexia@1933industries.com
Paul Rosen, CEO
paul@1933industries.com
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.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
MA has shown a notable upward trend in its market position over the last few months. From September to December 2024, AMA climbed from the 5th to the 3rd rank, demonstrating a strong performance against its competitors. This ascent is particularly significant when considering the consistent dominance of STIIIZY and Medizin, which have maintained their 1st and 2nd ranks, respectively. Despite the fierce competition, AMA's sales have shown a positive trajectory, with December sales surpassing those in October and November, MA has shown a notable upward trend in its market position over the last few months. From September to December 2024, AMA climbed from the 5th to the 3rd rank, demonstrating a strong performance against its competitors. This ascent is particularly significant when considering the consistent dominance of STIIIZY and Medizin, which have maintained their 1st and 2nd ranks, respectively. Despite the fierce competition, AMA's sales have shown a positive trajectory, with December sales surpassing those in October and November.
SOURCE: 1933 Industries Inc.
View the original press release on ACCESS Newswire
FAQ
When will 1933 Industries (TGIFF) complete its delayed audited financial statements?
What trading restrictions are currently in place for TGIFF executives?
Why is TGIFF expecting to receive a Cease Trade Order?
When will TGIFF release its Q1 2025 financial report?
