Business
Delphx Provides Status Update to Management Cease Trade Order
Toronto, Ontario--(Newsfile Corp. - June 30, 2020) - DelphX Capital Markets Inc. (TSXV: D...
About this update from Delphx Capital Markets, Inc.
[{"type":"text","content":"Delphx Provides Status Update to Management Cease Trade OrderToronto, Ontario--(Newsfile Corp. - June 30, 2020) - DelphX Capital Markets Inc. (TSXV: DELX) (\"DelphX\" or the \"Company\") announced today further to its news release dated June 17, 2020 with respect to the issuance by the Ontario Securities Commission of a Management Cease Trade Order (\"MCTO\") ceasing trading in securities of the Company by the Chief Executive Officer and the Chief Financial Officer until filing of DelphX's audited annual financial statements for the year ended December 31, 2019, its management's discussion and analysis (\"MD&A\"), and certifications of the foregoing filings as required by National Instrument 52-109 (the \"Annual Filings\"), the Company is providing a bi-weekly status update on the delay in filing of its Annual Filings.There has been no material change to the information contained in the default announcement of June 17, 2020 that has not been generally disclosed and 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 under National Policy 12-203 - Management Cease Trade Orders. The Company confirms that it will continue to satisfy the provisions of the alternative information guidelines for so long as it is delayed in filing the Annual Filings. The Company continues to work with its auditor to complete its audited annual financial statements and MD&A, and anticipates filing of same together with its unaudited interim financial statements for the three months ended March 31, 2020 and 2019 (\"Q1/20 FS\"), its management's discussion and analysis related to the Q1/20 FS (together, the \"Q1/20 Interim Filings\"), and the certifications of the Q1/20 Interim Filings on or before July 14, 2020.About DelphX: DelphX is a technology and financial services company focused on optimizing credit markets. Its Cloud-based technology, actuarial science and reinsurance protocols enable fixed income dealers to offer new Rule 144A securities that optimally transfer and diffuse credit risk. The new DelphX platform will be regulated by the SEC and enable dealers to competitively structure, sell and make markets in: Covered Put Options (CPOs) that provide secured default protection for underlying corporate, municipal and sover...