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Alset AI Announces Delay in Filing Audited Annual Financial Statements
VANCOUVER, BC / ACCESS Newswire / January 29, 2025 / Alset AI Ventures Inc.(TSXV:GPUS)(OTC:AL...
About this update from Alset Ai Ventures Inc
[{"type":"text","content":"Alset AI Announces Delay in Filing Audited Annual Financial StatementsVANCOUVER, BC / ACCESS Newswire / January 29, 2025 / Alset AI Ventures Inc.(TSXV:GPUS)(OTC:ALSCF)(FSE:1R60, WKN:A3ESVQ)(\"Alset AI\" or the \"Company\") an artificial intelligence (AI) venture company advancing innovation through strategic investment and cloud computing solutions, announces that the filing of its audited annual financial statements for the year ended September 30, 2024, including the related management discussion and analysis, and Chief Executive Officer and Chief Financial certifications (collectively, the \"Annual Financial Filings\") were not filed by the required filing deadline of January 28, 2025 (the \"Filing Deadline\").The Annual Financial Filings will not be filed before the Filing Deadline due to various unforeseen delays in the completion of the Company's audit of the Annual Financial Filings. The unforeseen delays are due to the fact that the Company recently changed its bookkeeper, and the file transition has caused delays in completing its audit in advance of the deadline. Consequently, the auditors require additional time to complete its audit.The Company is working diligently with its auditors and anticipates that it will be in a position to file the Annual Financial Filings by March 11, 2025.Pursuant to National Policy 12-203 Management Cease Trade Orders (\"NP 12-203\") the Company has voluntarily applied to the applicable securities regulatory authorities and received a management cease trade order related to the Company's securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company (the \"MCTO\"). The MCTO will be in effect until the Annual Financial Filings are filed.All other securityholders will still be able to trade in the securities of the Company in accordance with applicable securities laws. Until the Annual Financial Filings are filed and the MCTO has been revoked, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing default status reports in the form of further press releases every two weeks.On behalf of Alset AI Ventures Inc.\"Adam Ingrao\"Adam IngraoChief Executive OfficerAbout Alset AI Ventures Inc.Alset AI is a pioneering AI and cloud computing investme...