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AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has announced a delay in filing its annual financial disclosure for the year ended April 30, 2024. The company has applied for a management cease trade order (MCTO) from the British Columbia Securities Commission to avoid a general cease trade order. The delay is due to the inability of bookkeepers from its investee, Tech2Heal, to provide necessary financial information for audit completion.
The company expects to file the required documents by September 15, 2024, missing the original August 28, 2024 deadline. During the MCTO period, if granted, only insiders will be restricted from trading the company’s securities. AI/ML Innovations focuses on artificial intelligence and machine learning in digital health and wellbeing, with investments in Health Gauge, Tech2Heal, and AI Rx Inc.
AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) ha annunciato un ritardo nella presentazione della sua dichiarazione finanziaria annuale per l’anno conclusosi il 30 aprile 2024. L’azienda ha richiesto un ordine di cessazione delle negoziazioni (MCTO) alla Commissione dei valori mobiliari della Columbia Britannica per evitare un’ordinanza generale di cessazione delle negoziazioni. Il ritardo è dovuto all’incapacità dei contabili della sua partecipata, Tech2Heal, di fornire le informazioni finanziarie necessarie per completare l’audit.
L’azienda prevede di presentare i documenti richiesti entro il 15 settembre 2024, superando la scadenza originale del 28 agosto 2024. Durante il periodo del MCTO, se concessa, solo i soggetti interni saranno limitati nel negoziare i titoli dell’azienda. AI/ML Innovations si concentra su intelligenza artificiale e apprendimento automatico nella salute digitale e nel benessere, con investimenti in Health Gauge, Tech2Heal e AI Rx Inc.
AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) ha anunciado un retraso en la presentación de su divulgación financiera anual para el año que concluyó el 30 de abril de 2024. La empresa ha solicitado una orden de cese de negociaciones (MCTO) a la Comisión de Valores de Columbia Británica para evitar una orden general de cese de negociaciones. El retraso se debe a la incapacidad de los contadores de su participada, Tech2Heal, de proporcionar la información financiera necesaria para completar la auditoría.
La empresa espera presentar la documentación requerida antes del 15 de septiembre de 2024, superando el plazo original del 28 de agosto de 2024. Durante el período del MCTO, si se concede, solo los internos estarán restringidos de negociar los valores de la compañía. AI/ML Innovations se centra en inteligencia artificial y aprendizaje automático en la salud digital y el bienestar, con inversiones en Health Gauge, Tech2Heal y AI Rx Inc.
AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB)는 2024년 4월 30일 종료된 회계연도에 대한 연례 재무 공시 제출이 지연되었다고 발표했습니다. 이 회사는 일반 거래 중단 명령을 피하기 위해 브리티시컬럼비아 증권 위원회에 경영 중단 거래 명령(MCTO)을 신청했습니다. 지연은 자회사인 Tech2Heal의 회계 담당자들이 감사 완료를 위한 재무 정보를 제공하지 못했기 때문에 발생했습니다.
회사는 원래 2024년 8월 28일 마감일을 넘어 2024년 9월 15일까지 필요한 서류를 제출할 것으로 예상하고 있습니다. MCTO 기간 동안, 만약 승인된다면, 임원들만 회사 증권 거래가 제한됩니다. AI/ML Innovations는 디지털 건강 및 웰빙 분야에서 인공지능 및 기계 학습에 중점을 두고 있으며, Health Gauge, Tech2Heal 및 AI Rx Inc.에 투자하고 있습니다.
AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) a annoncé un retard dans le dépôt de sa divulgation financière annuelle pour l’exercice clos le 30 avril 2024. L’entreprise a demandé un ordre d’arrêt de gestion (MCTO) à la Commission des valeurs mobilières de la Colombie-Britannique pour éviter un ordre général d’arrêt des transactions. Le retard est dû à l’incapacité des comptables de sa société investie, Tech2Heal, de fournir les informations financières nécessaires à l’achèvement de l’audit.
L’entreprise s’attend à soumettre les documents requis d’ici le 15 septembre 2024, dépassant ainsi le délai initial du 28 août 2024. Pendant la période du MCTO, s’il est accordé, seuls les initiés seront restreints dans le commerce des valeurs mobilières de l’entreprise. AI/ML Innovations se concentre sur l’intelligence artificielle et l’apprentissage automatique dans le domaine de la santé numérique et du bien-être, avec des investissements dans Health Gauge, Tech2Heal et AI Rx Inc.
AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) hat eine Verzögerung bei der Einreichung ihres Jahresfinanzberichts für das am 30. April 2024 endende Geschäftsjahr angekündigt. Das Unternehmen hat einen Management-Cease-Trade-Order (MCTO) bei der Wertpapierkommission British Columbia beantragt, um eine allgemeine Handelsstoppanordnung zu vermeiden. Die Verzögerung ist auf die Unfähigkeit der Buchhalter ihrer Beteiligung Tech2Heal zurückzuführen, die erforderlichen finanziellen Informationen für den Abschluss der Prüfung bereitzustellen.
Das Unternehmen erwartet, die erforderlichen Unterlagen bis zum 15. September 2024 einzureichen, und verpasst damit die ursprüngliche Frist vom 28. August 2024. Während der MCTO-Periode, wenn genehmigt, wird nur Insidern der Handel mit den Wertpapieren des Unternehmens eingeschränkt. AI/ML Innovations konzentriert sich auf künstliche Intelligenz und maschinelles Lernen im Bereich digitale Gesundheit und Wohlbefinden mit Investitionen in Health Gauge, Tech2Heal und AI Rx Inc.
Positive
- The company has proactively applied for an MCTO to maintain trading for non-insiders
- AI/ML Innovations has a diverse portfolio in AI and ML-driven digital health companies
Negative
- Delay in filing annual financial statements and related documents
- Potential for a general cease trade order if MCTO is not granted
- Dependence on external entity (Tech2Heal) for important financial information
VICTORIA, BC / ACCESSWIRE / August 23, 2024 / AI/ML Innovations Inc. (the “Company“) (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) announces that it has made an application to the British Columbia Securities Commission (“BCSC“) to approve a management case trade order (“MCTO“) under National Policy 12-203 Management Cease Trade Orders (“NP 12-203“), which, if granted, will prohibit trading in the securities of the Company by the Chief Executive Officer and Chief Financial Officer of the Company until such time as the Required Filings (defined below) and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted. During the period in which the MCTO is effective, the general public, who are not insiders of the Company, will continue to be able to trade in the Company’s listed securities. The MCTO application has been made but there is no guarantee or assurance that the MCTO will be granted. If the MCTO is not issued by the BCSC, the applicable Canadian securities regulatory authorities could issue a general cease trade order against the Company for failure to file the Required Filings within the prescribed time period.
The Company expects that it will be unable to file its audited financial statements for the financial year ended April 30, 2024, and the related management’s discussion and analysis and Chief Executive Officer and Chief Financial Officer certificates for this period (collectively, the “Required Filings“) before the filing deadline of August 28, 2024 (the “Filing Deadline“).
The Company will be late in the preparation of the Annual Filings as a result of the bookkeepers for one of its investee entities (Tech2Heal) being unable to provide the Company with certain financial information that the Company’s auditors need to complete their audit. Due to the Company’s material investment in Tech2Heal, Tech2Heal was required to supply documentation to be audited by the Company’s auditors to support incorporation into the Company’s consolidated financial statements by way of equity accounting. The bookkeepers for Tech2Heal are located in France and due to extended holidays in that country over the summer the Company is not expected to receive the information that it needs until approximately September 1, 2024.
The Company anticipates that it will be in a position to remedy the default by filing the Required Filings on or before September 15, 2024. The MCTO will be in effect until the Required Filings are filed. The Company intends to satisfy the provisions of the alternative information guidelines set out in sections 9 and 10 of NP 12-203 so long as the Required Filings are outstanding.
The Company confirms that there are no insolvency proceedings against it as of the date of this press release. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.
For more information about AI/ML Innovations:
For detailed information please see AI/ML’s website or the Company’s filed documents at www.sedar.com.
For further information, contact: Blake Fallis at (778) 405-0882 or info@aiml-innovations.com.
About AI/ML Innovations Inc. https://aiml-innovations.com/
AI/ML Innovations Inc. has realigned its business operations to capitalize on the burgeoning fields of artificial intelligence (AI) and machine learning (ML), with an initial investment focus on emerging digital health and wellbeing companies that leverage AI, ML, cloud computing and digital platforms to drive transformative healthcare management solutions and precision support delivery across the health continuum. Through strategic partnerships with Health Gauge (70% owned by AIML), Tech2Heal (22% ownership commitment by AIML), AI Rx Inc. (70% owned by AIML) and other planned accretive investments, the Company continues to capitalize on expanding growth areas, to the benefit of all the Company’s stakeholders. AI/ML’s shares are traded on the Canadian Securities Exchange under the symbol “AIML”, the OTCQB Venture Market under “AIMLF”, and the Frankfurt Stock Exchange under “42FB”.
Certain statements in this news release are “forward-looking statements”, which reflect management’s expectations regarding the issuance of the MCTO and timing of the filing of the Required Filings. All statements other than statements of historical fact contained in this news release are forward-looking statements. Such forward-looking statements involve risks and uncertainties, as they reflect management’s current beliefs and are based on information currently available to management. Actual results may differ materially from those anticipated in the statements made. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update or revise them to reflect new events or circumstances except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by the Company with the securities regulatory authorities, available at www.sedar.com.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: AI/ML Innovations, Inc.
View the original press release on accesswire.com
FAQ
Why is AI/ML Innovations (AIMLF) delaying its annual financial filing?
AI/ML Innovations is delaying its annual financial filing due to the inability of bookkeepers from its investee, Tech2Heal, to provide necessary financial information for audit completion. This delay is caused by extended summer holidays in France, where Tech2Heal’s bookkeepers are located.
When does AI/ML Innovations (AIMLF) expect to file its delayed annual financial statements?
AI/ML Innovations anticipates filing its delayed annual financial statements and related documents by September 15, 2024, missing the original deadline of August 28, 2024.
What is the impact of the MCTO on AI/ML Innovations (AIMLF) stock trading?
If granted, the MCTO will only restrict insiders from trading AI/ML Innovations securities. The general public will still be able to trade the company’s listed securities during the MCTO period.
What are the main business areas of AI/ML Innovations (AIMLF)?
AI/ML Innovations focuses on artificial intelligence (AI) and machine learning (ML) in digital health and wellbeing. The company has investments in Health Gauge, Tech2Heal, and AI Rx Inc., capitalizing on AI and ML applications in healthcare management solutions.
