Business
Eddy Smart Home Solutions Ltd. Provides Bi-Weekly Status Report on Management Cease Trade Order
Toronto, Ontario--(Newsfile Corp. - June 13, 2023) - Eddy Smart Home Solutions Ltd. (TSXV: EDY) (...
About this update from Eddy Smart Home Solutions Ltd.
[{"type":"text","content":"Eddy Smart Home Solutions Ltd. Provides Bi-Weekly Status Report on Management Cease Trade OrderToronto, Ontario--(Newsfile Corp. - June 13, 2023) - Eddy Smart Home Solutions Ltd. (TSXV: EDY) (\"Eddy\" or the \"Company\"), is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders (\"NP 12-203\"). As previously announced on April 18, 2023 and as further updated on May 3, 2023, May 16, 2023 (the \"May 16 News Release\"), and May 30, 2023 (the \"May 30 News Release\") the Company applied for a management cease trade order (\"MCTO\") from the Ontario Securities Commission (\"OSC\") due to an expected delay in filing the Company's annual financial statements (the \"Financial Statements\"), management's discussion and analysis relating to the Financial Statements and related officer certifications for the financial year ended December 31, 2022 (collectively, the \"Annual Filing Documents\"). The MCTO was granted by the OSC on May 2, 2023 and the Company continues to work closely with its auditor and expects to file the Annual Filing Documents as soon as possible, and in any event no later than July 7, 2023.As a result of the above-referenced delay, in the May 16 News Release, the Company announced the delay in the filing of its interim financial statements for the period ended March 31, 2023, the related management's discussion and analysis relating to the interim financial statements, and the related officer certifications of the Company (collectively, the \"Q1 2023 Filings\"). The Company believes it will be able to file the Q1 2023 Filings by August 15, 2023. Further information regarding the Q1 2023 Filings can be found in the May 16 News Release.The MCTO prohibits the Company's Chief Executive Officer, Chief Financial Officer, and such other directors, officers and persons as determined by the applicable regulatory authorities, from trading, directly or indirectly, in the securities of the Company. The Company will also not be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company until such time as the Annual Filing Documents and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted. The MCTO does not affect the ability o...