Business
FuelPositive Provides Update on Filing of Annual Financial Statements and Cease Trade Order
FuelPositive Provides Update on Filing of Annual Financial Statements and Cease Trade Order ...
About this update from Fuelpositive Corp.
[{"type":"text","content":"\n\n\n\n FuelPositive Provides Update on Filing of Annual Financial Statements and Cease Trade Order\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Feb. 4, 2025\n \n\n /CNW/ - FuelPositive Corporation (TSXV: NHHH) (OTCQB: NHHHF) (\"FuelPositive\" or the \"Company\") provides an update on its financial reporting and regulatory status. The Company is actively working with its auditors to complete the required annual financial statements and accompanying management's discussion and analysis for the fiscal year of\n \n September 30, 2024\n \n .\n \n\n\n\n\n\n\n\n\n The filing deadline of\n \n January 28, 2025\n \n , was not met due to the restructuring of FuelPositive's financial team and Board of Directors, which required additional time to transition financial reporting responsibilities and associated analysis. Additionally, unforeseen delays from a third-party accounting firm, engaged before the restructuring to assist the auditors, further extended the timeline. While this caused a temporary delay, it does not reflect any operational concerns—FuelPositive remains fully operational and focused on its core business objectives.\n \n\n As a result of the missed deadline, the Ontario Securities Commission (OSC) issued a Cease Trade Order (CTO) on\n \n February 3, 2025\n \n . However, FuelPositive's auditors expect to finalize the audit and the Company will submit the necessary filings on or before\n \n February 21, 2025\n \n . The Company is committed to working closely with regulatory authorities, including the OSC and TSX Venture Exchange, to have the CTO lifted as quickly as possible once the filings are complete.\n \n\n Despite this administrative delay, FuelPositive remains steadfast in advancing toward commercialization. The Company is making significant progress toward activating its first on-farm Green Ammonia system in\n \n Sperling, Manitoba\n \n . This milestone will demonstrate the commercial viability and real-world impact of its technology. Regulatory and system readiness are on track, ensuring...