Business
CardioComm Solutions Provides Update Including Trading Reinstatement
Toronto, Ontario--(Newsfile Corp. - October 3, 2023) - CardioComm Solutions, Inc. (TSXV: EKG) (...
About this update from Cardiocomm Solutions, Inc.
[{"type":"text","content":"CardioComm Solutions Provides Update Including Trading ReinstatementToronto, Ontario--(Newsfile Corp. - October 3, 2023) - CardioComm Solutions, Inc. (TSXV: EKG) (\"CardioComm\" or the \"Company\"), a global medical provider of consumer heart monitoring and medical electrocardiogram (\"ECG\") software solutions, is pleased to provide an update respecting the reinstatement to trading of its common shares on the TSX Venture Exchange (the \"Exchange\") under the trading symbol \"EKG\". The Exchange has confirmed that trading of the Company's shares will be reinstated on or about Friday, October 6, 2023.The Company announced on May 1, 2023, the initial cause for the trading suspension, which was due to the Company not filing its annual financial statements for the financial year ended December 31, 2022 and its management's discussion and analysis relating to the Financial Statements (\"Financial Documents\") by the May 2, 2023 deadline. The delay was due in part to the March 22, 2023, resignation of Josee Bertrand as the Chief Financial Officer (\"CFO\") during the time the 2022 year-end independent audit was underway and also to the implementation of a new financial accounting software system. On May 5, 2023, the Ontario Securities Commission issued the Company a failure to file cease trade order (\"FFCTO\"). The Company filed the Financial Documents on August 3, 2023, and the FFCTO was revoked on August 4, 2023. In order to file the Company's 2022 year-end financial statements as well as the first and second quarter 2023 financial statements, CardioComm's Chief Executive Officer (\"CEO\"), Etienne Grima, assumed the role of the Company's interim Chief Financial Officer effective August 3, 2023, a role he originally held between 2007 and 2010. While permitted for an interim period, holding such a dual role is in breach of Exchange Policy 3.1, Section 5.9. Accordingly, the TSX Venture Exchange has now permitted trading in the shares of CardioComm to resume while Mr. Grima serves as interim CFO. However, the Company will be placed on a 90-day Notice by the Exchange for non-separation of the CEO / CFO positions during which time the Company will be required to replace Mr. Grima as interim CFO with a dedicated CFO or have its listing transferred to the NEX board of the TSX Venture Exchange. The Company confirms it is in the process of ...