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Alset AI Ventures (OTC: ALSCF) has announced a delay in filing its audited annual financial statements for the year ended September 30, 2024. The company missed the required filing deadline of January 28, 2025, due to unforeseen delays following a recent change in bookkeeper, which has caused complications in the file transition and audit completion process.
The company expects to file the Annual Financial Filings by March 11, 2025. In response, Alset AI has voluntarily obtained a management cease trade order (MCTO) affecting only the CEO and CFO’s ability to trade company securities. Other shareholders can continue trading normally.
Until the financial statements are filed and the MCTO is lifted, Alset AI will issue bi-weekly default status reports in accordance with National Policy 12-203.
Alset AI Ventures (OTC: ALSCF) ha annunciato un ritardo nella presentazione dei suoi bilanci annuali auditati per l’anno conclusosi il 30 settembre 2024. L’azienda non ha rispettato la scadenza di deposito richiesta del 28 gennaio 2025, a causa di ritardi imprevisti seguiti a un recente cambiamento di contabile, il che ha causato complicazioni nella transizione dei documenti e nel completamento dell’audit.
L’azienda prevede di presentare i Bilanci Annuali entro il 11 marzo 2025. In risposta, Alset AI ha ottenuto volontariamente un’ordinanza di sospensione della negoziazione gestionale (MCTO) che riguarda solo la capacità del CEO e del CFO di negoziare titoli della società. Gli altri azionisti possono continuare a negoziare normalmente.
Fino a quando i bilanci non saranno presentati e l’MCTO non sarà revocata, Alset AI emetterà rapporti sullo stato di default ogni due settimane in conformità alla Politica Nazionale 12-203.
Alset AI Ventures (OTC: ALSCF) ha anunciado un atraso en la presentación de sus estados financieros auditados anuales para el año que finalizó el 30 de septiembre de 2024. La empresa no cumplió con el plazo de presentación requerido del 28 de enero de 2025, debido a retrasos imprevistos tras un cambio reciente de contable, lo que ha causado complicaciones en la transición de archivos y en el proceso de finalización de la auditoría.
La empresa espera presentar los Estados Financieros Anuales antes del 11 de marzo de 2025. En respuesta, Alset AI ha obtenido voluntariamente una orden de cese de operaciones de gestión (MCTO) que afecta solo a la capacidad del CEO y del CFO para negociar valores de la empresa. Otros accionistas pueden continuar negociando normalmente.
Hasta que se presenten los estados financieros y se levante la MCTO, Alset AI emitirá informes quincenales sobre el estado de incumplimiento de acuerdo con la Política Nacional 12-203.
Alset AI Ventures (OTC: ALSCF)는 2024년 9월 30일 종료 연도의 감사 연간 재무 제표 제출이 지연되었음을 발표했습니다. 회사는 최근 회계 담당자가 변경되면서 예기치 않은 지연이 발생하여 2025년 1월 28일로 예정된 제출 마감일을 놓쳤습니다. 이로 인해 파일 전환 및 감사 완료 과정에서 복잡성이 발생했습니다.
회사는 2025년 3월 11일까지 연간 재무제표를 제출할 것으로 예상합니다. 이에 따라 Alset AI는 CEO와 CFO의 회사 유가증권 거래 능력에만 영향을 미치는 관리 중단 거래 명령(MCTO)을 자발적으로 확보했습니다. 다른 주주는 정상적으로 거래를 계속할 수 있습니다.
재무제표가 제출될 때까지 그리고 MCTO가 해제될 때까지 Alset AI는 국가 정책 12-203에 따라 매주 기본 상태 보고서를 발행할 것입니다.
Alset AI Ventures (OTC: ALSCF) a annoncé un retard dans le dépôt de ses états financiers annuels audités pour l’exercice clos le 30 septembre 2024. L’entreprise n’a pas respecté la date limite de dépôt requise du 28 janvier 2025, en raison de retards imprévus suite à un récent changement de comptable, ce qui a entraîné des complications dans le processus de transition des fichiers et d’achèvement de l’audit.
L’entreprise prévoit de déposer les états financiers annuels d’ici le 11 mars 2025. En réponse, Alset AI a volontairement obtenu une ordonnance de cessation de négociation de gestion (MCTO) affectant uniquement la capacité de négocier des valeurs mobilières de l’entreprise par le PDG et le CFO. Les autres actionnaires peuvent continuer à négocier normalement.
Tant que les états financiers ne seront pas déposés et que la MCTO ne sera pas levée, Alset AI publiera tous les deux semaines des rapports sur l’état de défaut conformément à la Politique nationale 12-203.
Alset AI Ventures (OTC: ALSCF) hat eine Verzögerung bei der Einreichung seiner geprüften Jahresfinanzberichte für das am 30. September 2024 endende Geschäftsjahr angekündigt. Das Unternehmen hat die erforderliche Einreichungsfrist vom 28. Januar 2025 aufgrund unvorhergesehener Verzögerungen nach einem kürzlichen Wechsel des Buchhalters verpasst, was zu Komplikationen beim Dateitransfer und beim Abschluss der Prüfung geführt hat.
Das Unternehmen erwartet, die Jahresfinanzberichte bis zum 11. März 2025 einzureichen. In Reaktion darauf hat Alset AI freiwillig eine Management-Einstellungsverordnung (MCTO) erhalten, die nur die Handelbarkeit der Unternehmenswerte für den CEO und den CFO betrifft. Andere Aktionäre können weiterhin normal traden.
Bis die Finanzberichte eingereicht und die MCTO aufgehoben wird, wird Alset AI alle zwei Wochen Statusberichte über die Defaults gemäß der Nationalen Richtlinie 12-203 veröffentlichen.
Positive
- Regular shareholders maintain ability to trade company securities during MCTO period
Negative
- Missed deadline for filing annual financial statements
- Management cease trade order imposed on CEO and CFO
- Audit completion delayed due to bookkeeper transition issues
- Extended delay with new filing date set for March 11, 2025 (approximately 6 weeks late)
VANCOUVER, BC / ACCESS Newswire / January 29, 2025 / Alset AI Ventures Inc.(TSXV:GPUS)(OTC:ALSCF)(FSE:1R60, WKN:A3ESVQ)(“Alset AI” or the “Company”) an artificial intelligence (AI) venture company advancing innovation through strategic investment and cloud computing solutions, announces that the filing of its audited annual financial statements for the year ended September 30, 2024, including the related management discussion and analysis, and Chief Executive Officer and Chief Financial certifications (collectively, the “Annual Financial Filings“) were not filed by the required filing deadline of January 28, 2025 (the “Filing Deadline“).
The Annual Financial Filings will not be filed before the Filing Deadline due to various unforeseen delays in the completion of the Company’s audit of the Annual Financial Filings. The unforeseen delays are due to the fact that the Company recently changed its bookkeeper, and the file transition has caused delays in completing its audit in advance of the deadline. Consequently, the auditors require additional time to complete its audit.
The Company is working diligently with its auditors and anticipates that it will be in a position to file the Annual Financial Filings by March 11, 2025.
Pursuant to National Policy 12-203 Management Cease Trade Orders (“NP 12-203“) the Company has voluntarily applied to the applicable securities regulatory authorities and received a management cease trade order related to the Company’s securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company (the “MCTO“). The MCTO will be in effect until the Annual Financial Filings are filed.
All other securityholders will still be able to trade in the securities of the Company in accordance with applicable securities laws. Until the Annual Financial Filings are filed and the MCTO has been revoked, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing default status reports in the form of further press releases every two weeks.
On behalf of Alset AI Ventures Inc.
“Adam Ingrao“
Adam Ingrao
Chief Executive Officer
About Alset AI Ventures Inc.
Alset AI is a pioneering AI and cloud computing investment firm, committed to nurturing high-potential technology companies. Through a combination of capital, strategic advisory, and cloud computing alliances, Alset AI is shaping the future of artificial intelligence and building an AI-focused venture capital platform poised for substantial growth.
For further information about Alset AI Ventures Inc., please contact:
Adam Ingrao, Chief Executive Officer
T: 1-236-312-6744
E: ir@alsetai.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements in this release relate to, among other things, the expected timing for the filing of the Company’s audited annual financial statements for the year ended September 30, 2024, and related documents (the “Annual Financial Filings”), the anticipated duration of the management cease trade order (“MCTO”), the Company’s efforts to complete its audit, and its intention to provide bi-weekly default status reports in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). Forward-looking statements are based on management’s current expectations, estimates, projections, assumptions, and beliefs, including, but not limited to, assumptions regarding the completion of the audit in a timely manner, the availability of necessary financial and accounting resources, the ability of the Company’s auditors to complete their review without further delays, and the Company’s ability to satisfy the conditions for lifting the MCTO. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied in such statements. Such risks and uncertainties include, but are not limited to, unforeseen delays in the audit process, the risk that the Annual Financial Filings may not be filed within the anticipated timeframe, regulatory risks related to the MCTO and its potential impact on the Company, changes in accounting or regulatory requirements, and general business, economic, and competitive uncertainties. Readers are cautioned that the forward-looking statements contained in this news release should not be unduly relied upon. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are provided in reliance on safe harbor provisions of applicable securities laws and should be read with the cautionary statements and risk factors disclosed in the Company’s continuous disclosure filings available on SEDAR+ at www.sedarplus.ca.
SOURCE: Alset AI Ventures Inc.
View the original press release on ACCESS Newswire
FAQ
When will Alset AI (ALSCF) file its delayed 2024 annual financial statements?
Alset AI expects to file its delayed annual financial statements by March 11, 2025.
Why did Alset AI (ALSCF) miss its financial filing deadline?
The company missed the January 28, 2025 deadline due to unforeseen delays caused by a recent bookkeeper change and subsequent file transition complications.
Can shareholders still trade Alset AI (ALSCF) stock during the management cease trade order?
Yes, regular shareholders can continue trading ALSCF stock. The management cease trade order only affects the CEO and CFO’s ability to trade company securities.
How often will Alset AI (ALSCF) provide updates during the filing delay period?
Alset AI will issue default status reports every two weeks until the annual financial filings are completed and the MCTO is revoked.
