Business
Sprylogics International Corp. - Second Default Status Report
TORONTO, June 25 /CNW/ - Sprylogics International Corp. ("Sprylogics" or the "Company") is provid...
About this update from Bragg Gaming Group Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, June 25 /CNW/ - Sprylogics International Corp. ("Sprylogics" or\nthe "Company") is providing this second bi-weekly default status report in\naccordance with National Policy 12-203 - Cease Trade Orders for Continuous\nDisclosure Defaults ("NP 12-203"). In its initial default announcement of May\n28, 2009 (the "Default Notice"), the Company announced that it will not be\nfiling its audited financial statements for its fiscal year ended January 31,\n2009 (the "2008 Financial Statements") and its management's discussion and\nanalysis relating to the 2008 Financial Statements (collectively, the\n"Required Filings") before the prescribed deadline of June 1, 2009. The\nCompany provided its first bi-weekly default status report on June 12, 2009\n(the "First Default Status Report").\n\n\nAs previously announced, the Company made an application to the\napplicable securities regulators under NP 12-203, requesting that a management\ncease trade order be imposed in respect of this late filing. On June 2, 2009,\nthe Ontario Securities Commission issued a temporary management cease trade\norder, which imposed restrictions on all trading in and all acquisitions of\nthe securities of the Company by the Chief Executive Officer and the Chief\nFinancial Officer of the Company for a period of 15 days from the date of such\norder. On June 15, 2009, the Ontario Securities Commission issued a permanent\nmanagement cease trade order.\n\n\nThe Company continues to work on closing its previously announced private\nplacement in order to provide sufficient working capital to engage the\nauditors to complete the 2008 Financial Statements. In the Default Notice and\nFirst Default Status Report, the Company announced that it anticipated that it\nwould file the Required Filings by July 15, 2009. However, since the Company\nhas not yet completed the previously announced private placement within the\ntimeframe originally contemplated, the Company now anticipates that it will\nfile the Required Filings by August 31, 2009.\n\n\nOther than the information set out above, the Company reports that since\nthe Default Notice and First Default Status Report: (i) there is no material\nchange to the information set out in the Default Notice or the First Default\nStatus Report; (ii) there ...