Business
MedX Health Corp. Provides Default Status Report
MedX Health Corp. Provides Default Status Report
About this update from Medx Health Corp.
[{"type":"text","content":"\n\n\n\n Jun. 18, 2010 (Canada NewsWire Group) -- MedX Health Corp., (TSXV.MDX) is providing its third bi-weekly Default Status Report in accordance with National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). As outlined in the company's June 4 press release, the Ontario Securities Commission has held a hearing and determined that the Management Cease Trade Order shall continue until two full business days following the receipt by the Commission of all filings MedX Health Corp. is required to make under Ontario securities law.\nAs previously announced, the company under NP 12-203 requested that a management cease trade order be imposed as a result of this late filing. As announced by the company on May 18, 2010, the Ontario Securities Commission, being the Principal Regulator, issued a management cease trade order to the Company's Chief Executive Officer and Acting Chief Financial Officer, thereby temporarily prohibiting them from trading in the securities of the Company. MedX is required provide bi-weekly status reports in the form of news releases as long as it remains in default of the requirements to file its Annual Filings within the prescribed period of time. The issuance of the management cease trade order does not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in MedX securities.\nSince our June 4 press release, MedX has made significant progress in obtaining our audit of the year end statements, and completion of the audit is imminent. The Company now expects to file its Annual Filings within the next week. As a result of this delay in the Annual Filings, the Company shall delay the filing of its financial statements for the quarter ended March 31, 2010, CEO and CFO certifications and management's discussion and analysis for the quarter ended March 31, 2010 until such time that it files the Annual Filings.\nOther than as set out herein, MedX reports that since the Default Notice: (i) there is no material change to the information set out in the Default Notice that has not been generally disclosed; (ii) 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 NP 12-203; (iii) there has not been any other s...