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Cathedral Announces Delay in Filing its 2022 Annual Financial Statements
Cathedral Announces Delay in Filing its 2022 Annual Financial Statements Canada NewsWir...
About this update from Act Energy Technologies Ltd.
[{"type":"text","content":"\n \n \n \n Cathedral Announces Delay in Filing its 2022 Annual Financial Statements\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n March 30, 2023\n \n \n /CNW/ - CATHEDRAL ENERGY SERVICES LTD. (TSX: CET) (\"Cathedral\" or the \"Company\") announced today that it will not be filing its annual financial statements, accompanying management's discussion and analysis and related chief executive officer (\"\n \n CEO\n \n \") and chief financial officer (\"\n \n CFO\n \n \") certifications and annual information form for the financial year ended\n \n December 31, 2022\n \n (collectively, the \"Annual Filings\"), within the period prescribed for the filing of such documents under Parts 4, 5 and 6 of National Instrument 51-102\n \n Continuous Disclosure Obligations\n \n and pursuant to National Instrument 52-109\n \n Certification of Disclosure in Issuers' Annual and Interim Filings\n \n , namely within 90 days of year-end, being\n \n March 31, 2023\n \n (the \"Filing Deadline\").\n \n \n Due to the volume of auditing work related to the significant acquisition activity, related financing activities, growth and transformation of the Company during the 2022 year, Cathedral's audit remains ongoing at this time. Cathedral does not anticipate any material change from the operational results and financial performance previously reported on\n \n January 13, 2023\n \n . Cathedral is working closely with its auditor and is making every effort to file the Annual Filings in a timely fashion and expects to file the Annual Filings by\n \n April 14, 2023\n \n .\n \n \n Following a record third quarter, Cathedral once again anticipates reporting record results for the 25-year history of the Company in both the fourth quarter and the complete year of 2022. Consolidated revenues for the fourth quarter will increase greater than 18% over the third quarter as a result of pricing increases, increased RSS activity in the US, and new mud motor technology introduced in the Canadian market. This increased Q4 revenue sh...