Business
Sprylogics International Corp. - Thirteenth Default Status Report
Sprylogics International Corp. - Thirteenth Default Status Report
About this update from Bragg Gaming Group Inc.
[{"type":"text","content":"\n\n\n\nJan. 4, 2010 (Canada NewsWire Group) -- TORONTO, Jan. 4 /CNW/ -- Sprylogics International Corp. (\"Sprylogics\" or the \"Company\") is providing this thirteenth bi-weekly default status report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults (\"NP 12-203\"). In its initial default announcement of May 28, 2009 (the \"Default Notice\"), the Company announced that it will not be filing its audited financial statements for its fiscal year ended January 31, 2009 (the \"Annual Financial Statements\") and its management's discussion and analysis relating thereto (collectively, the \"Annual Required Filings\") before the prescribed deadline of June 1, 2009. As previously announced, with respect to this late filing, the Company is currently subject to a permanent management cease trade order (pursuant to an order of the Ontario Securities Commission dated June 15, 2009).As a result of the delay in filing the Annual Required Filings, the Company has been unable to or does not expect to file, before the prescribed deadline, its interim quarterly financial statements for the three month periods ended April 30, 2009, July 31, 2009 and October 31, 2009, as well as its management discussion and analysis related thereto (collectively, the \"Interim Required Filings\").The Company completed a debenture financing (see the press release of the Company dated October 16, 2009), which has provided the Company with sufficient working capital to engage the auditors to complete the Annual Financial Statements. As previously announced, the Company continues to expect to file the Annual Required Filings and Interim Required Filings by January 15, 2010.Other than as set out herein, the Company reports that since the Default Notice and the twelve subsequent bi-weekly default status reports (collectively, the \"Default Status Reports\"): (i) there is no material change to the information set out in the Default Notice or the Default Status Reports that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no other material information co...