Business
Mindready Solutions requests from the regulatory authorities to be subjected to a cease of trade limited to the management (Notice 57-301)
Mindready Solutions requests from the regulatory authorities to be subjected to a cease of trade limited to the management (Notice 57-301).
About this update from Fidelity Minerals Corp.
[{"type":"text","content":"\n\n\n\n\nMONTREAL, April 3 /CNW Telbec/ - Mindready Solutions Inc. (TSX: MNY)\nreports that the annual report, the annual financial statements along with its\nmanagement's discussion and analysis (MD&A) for the fiscal year ended\nDecember 31, 2005 could not be filed on or before March 31, 2006, as\nprescribed by law, for the reasons described below. Consequently, the annual\nshareholders' meeting will be postponed accordingly.\nMindready has obtained an injunction seeking to prevent the former\nshareholders of UTTC United Tri-Tech Corporation (\"UTTC\") from trading their\nMindready shares and has filed legal procedures to cancel the acquisition of\nUTTC completed on November 30, 2005.\nNegotiations are currently underway which will allow Mindready's auditors\nto determine in the coming days how to account for this transaction.\nAs of now, because of the uncertainty as to the inclusion of the UTTC\nbalance sheet in Mindready's 2005 consolidated annual financial statements, it\nis impossible for Mindready's auditors to prepare and audit the consolidated\nannual financial statements in conformity with Canadian generally accepted\naccounting principles.\nMindready expects to be able to file its annual report, annual financial\nstatements and annual MD&A for the year ended December 31, 2005 by May 31,\n2006 and has asked regulatory authorities to issue a temporary cease trade\norder applicable to its management.\nMindready is aware that regulatory authorities may issue a cease trade\norder in the event that its financial statements, annual report and annual\nMD&A are not filed before May 31, 2006.\nA cease trade order may also be issued prior to May 31, 2006 if this\nnotice of default is materially deficient or if Mindready fails to file its\nDefault Status Reports on time as prescribed by law. Mindready is confident\nthat these conditions will be met.\n\nMindready Solutions Inc. (TSX: MNY) is a leading supplier of innovative\nend-to-end solutions for new electronic product introduction, from design to\nmanufacturing and test systems, serving the aerospace & defense, wireless\ntelecommunication and automotive & transportation markets. Mindready serves\nclients such as Lockheed Martin, Raytheon, Northrop Grumman, Boeing, Visteon,\nRockwell Collins, NASA, Ford, Nissan, Motorola, Panasonic, Renault, Harris,\nFlextr...