Business
Stardust Solar Announces Delay in Filing Annual Financial Statements
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2025) - Stardust Solar Energy Inc. (TSXV:...
About this update from Stardust Solar Energy Inc.
[{"type":"text","content":"Stardust Solar Announces Delay in Filing Annual Financial StatementsVancouver, British Columbia--(Newsfile Corp. - May 1, 2025) - Stardust Solar Energy Inc. (TSXV: SUN) (\"Stardust Solar\" or the \"Company\"), a leading provider of residential solar energy solutions, announces that its audited annual financial statements for the year ended December 31, 2024, including the related management discussion and analysis, and Chief Executive Officer and Chief Financial Officer certifications (collectively, the \"Annual Financial Filings\") were not filed by the required filing deadline of April 30, 2025 (the \"Filing Deadline\").The Annual Financial Filings were not filed on or before the Filing Deadline as the Company has had a new management team since late 2024 following the closing of the qualifying transaction. The Company's auditors have advised that they require additional time to complete the audit.The Company is working on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings by June 30, 2025. The Company will provide updates as further information relating to the Annual Financial Filings becomes available.The Company has voluntarily applied to the applicable securities regulatory authorities and received a management cease trade order (\"MCTO\") imposed against the Chief Executive Officer and Chief Financial Officer of the Company precluding them from trading securities of the Company. The MCTO will be in effect until the Annual Financial Filings are filed and requires that the Annual Financial Filings be filed on or before June 30, 2025.Until the Annual Financial Filings are filed, the Company intends to issue bi-weekly default status reports in accordance with National Policy 12-203 - Management Cease Trade Orders. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.About Stardust SolarStardust is a North American franchisor of renewable energy installation services, including solar panels (PV), energy storage systems, and electric vehicle supply equipment. Stardust lends its brand and business management services to entrepreneurs l...