Business
Zonetail Announces Late Filing of Annual Financial Statements and Related Documents
(TheNewswire) Toronto, Ontario – TheNewswire - May 2, 2024 Zonetail Inc. (&#...
About this update from Zonetail, Inc.
[{"type":"text","content":"Zonetail Announces Late Filing of Annual Financial Statements and Related Documents\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto, Ontario –\n \n \n TheNewswire\n-\n \n \n May 2, 2024 Zonetail Inc. (“Zonetail” or\nthe “Company”) (TSXV: ZONE) (OTC Pinks: ZTLLF) is announcing the\nCompany's delay in filing its annual financial statements for the year\nended December 31, 2023 and related management discussion and\nanalysis (collectively, the \"Financial Statements\"), and the\nCEO and CFO certificates relating to the Financial Statements (the\n\"Required Filings\"), beyond the prescribed filing deadline\nof April 29, 2024 (the \"Filing Deadline\").\n \n \n \n \n The Company's delay in filing its Required Filings by\nthe Filing Deadline is due to unexpected delays in commencing the\naudit of the Company, which is being carried out by MNP LLP, the\nCompany's auditor (the \"Auditor\"). The audit is fully\nunderway, and the Company is focused on its completion.\n \n \n \n \n Considering the foregoing factors, it is the Company's\nview that should the present circumstances warrant the imposition of a\nmanagement cease trade order (\"Management CTO\"), rather than\nan issuer cease trade order, as contemplated under National Policy\n12-203 – Management Cease Trade Orders (\"NP 12-203\").\nThe Company has applied for a Management CTO, however there is no\nassurance that it will be granted.\n \n \n \n \n The Company proposes to remedy the default by\ndiligently working with the Auditor to ensure the filing of its\nRequired Filings as soon as possible. The Company expects to be in a\nposition to issue and file the Required Filings by May 17, 2024, and\nin any event within two months after the Filing Deadline.\n \n \n \n \n The Company therefore fully expects to file its\nRequired Filings prior to the expiration of the two month period after\nthe Filing Deadline as prescribed by NP 12-203. Further, the Company\nhas confirmed that it intends to satisfy the provisions of the\nalternative information guidelines described in Sections 9 and 10 of\nNP 12-203 for so long as it remains in default for failure to file the\nRequired Filings. Should the Company fail to fi...