Business
MedX Health Corp. Announces Management Cease Trading Order
MedX Health Corp. Announces Management Cease Trading Order
About this update from Medx Health Corp.
[{"type":"text","content":"\n\n\n\n May 18, 2010 (Canada NewsWire Group) -- MedX Health Corp., (TSXV.MDX) a global leader in drug free, non-invasive low level laser and light therapy for tissue repair and pain relief, announced that the Ontario Securities Commission has issued a temporary management cease trade order ("MCTO") as requested by the Company as it did not file its annual financial statements and management, discussion and analysis ("MD&A") for the year ending December 31, 2009 on or before the prescribed deadline of April 30, 2010.\nAs announced on May 6, 2010, MedX had requested that a MCTO be imposed, due to the late filings, in an application to securities regulators submitted under National Policy 12-203 ("NP 12-203"). Pursuant to NP 12-203, the MCTO was issued to the Company's Chief Executive Officer and Acting Chief Financial Officer, thereby temporarily prohibiting them from trading in the securities of the Company. Under the terms of the MCTO, MedX shall provide bi-weekly status reports in the form of news releases and will otherwise satisfy the provisions of the alternative information guidelines as outlined by the Ontario Securities Commission as long as it remains in default of the requirements to file its financial statements and MD&A within the prescribed period of time.\nMedX anticipates requiring several weeks to complete the audit and file the year-end audited numbers.\n\nAbout MedX Health Corp.\n\nMedX is a leading North American developer and manufacturer of low level laser and light medical devices for the drug free and non-invasive treatment of tissue damage and pain in numerous medical settings including dental, rehabilitation and wound care. MedX is the world's only company focusing on developing and delivering a broad cross-section of technologies and products involved in healing using light therapy. MedX is committed to advocating for, the bringing of non-invasive, drug-free healing nature of light to people seeking relief from pain and other physical ailments.\nMedX's strategy is to build upon its success in bringing relief of conditions in a non-pharmacologic manner in the rehabilitation market through key partnerships, acquisitions, strong patent protection as well as developing and commercializing advanced products in the dental and wound-care markets that will position the company to i...