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NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Frankfurt: O83) has provided a bi-weekly status update regarding its Management Cease Trade Order (MCTO). The company is delaying the filing of its required financial documents for the fiscal year ended April 30, 2024, and the first quarter of 2024. Initially expected to file by August 31, 2024, the company has revised its filing date multiple times, with the latest expectation set for October 11, 2024.
The MCTO, issued on July 30, 2024, restricts the CEO and CFO from trading company securities until the required documents are filed and the British Columbia Securities Commission revokes the order. The company affirms its commitment to satisfying alternative information guidelines and states that no material information remains undisclosed.
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Francoforte: O83) ha fornito un aggiornamento sugli stati di avanzamento ogni due settimane riguardo al suo Ordine di Sospensione della Gestione (MCTO). L’azienda sta ritardando la presentazione dei documenti finanziari richiesti per l’anno fiscale chiuso il 30 aprile 2024 e il primo trimestre del 2024. Inizialmente prevista per il 31 agosto 2024, l’azienda ha rivisto più volte la data di filing, con l’ultima previsione fissata per l’11 ottobre 2024.
L’MCTO, emesso il 30 luglio 2024, limita il CEO e il CFO dal commercio di titoli aziendali fino a quando i documenti richiesti non sono presentati e la Commissione di Valori della British Columbia revoca l’ordine. L’azienda conferma il proprio impegno a soddisfare le linee guida alternative per le informazioni e afferma che non ci sono informazioni materiali non divulgate.
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Frankfurt: O83) ha proporcionado una actualización quincenal sobre su Orden de Detención de Gestión (MCTO). La empresa está retrasando la presentación de los documentos financieros requeridos para el año fiscal que terminó el 30 de abril de 2024 y el primer trimestre de 2024. Inicialmente se esperaba que presentara los documentos antes del 31 de agosto de 2024, pero la empresa ha revisado varias veces la fecha de presentación, con la última expectativa fijada para el 11 de octubre de 2024.
El MCTO, emitido el 30 de julio de 2024, restringe al CEO y al CFO de negociar valores de la compañía hasta que se presenten los documentos requeridos y la Comisión de Valores de Columbia Británica revoque la orden. La empresa afirma su compromiso de satisfacer las pautas alternativas de información y declara que no queda información material sin divulgar.
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; 프랑크푸르트: O83)는 관리 중지 거래 명령(MCTO)과 관련하여 격주로 상태 업데이트를 제공했습니다. 이 회사는 2024년 4월 30일에 종료된 회계 연도 및 2024년 첫 분기의 재무 문서 제출을 지연하고 있습니다. 2024년 8월 31일까지 제출할 것으로 예상되었던 회사는 여러 번 제출 날짜를 수정했으며, 최신 예상일은 2024년 10월 11일로 설정되었습니다.
2024년 7월 30일에 발행된 MCTO는 CEO와 CFO가 필수 문서가 제출되고 브리티시컬럼비아 증권 위원회가 명령을 철회할 때까지 회사 증권을 거래하는 것을 제한합니다. 이 회사는 대체 정보 지침을 준수하겠다는 약속을 재확인하며, 공개되지 않은 중요 정보는 없다고 밝혔습니다.
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Francfort: O83) a fourni une mise à jour bimensuelle concernant son Ordre de Suspendre le Commerce de Gestion (MCTO). L’entreprise retarde le dépôt de ses documents financiers requis pour l’exercice clos le 30 avril 2024 et le premier trimestre de 2024. Initialement prévu pour le 31 août 2024, l’entreprise a révisé plusieurs fois sa date de dépôt, la dernière prévision étant fixée au 11 octobre 2024.
Le MCTO, émis le 30 juillet 2024, restreint le PDG et le CFO de trader des titres de la société jusqu’à ce que les documents requis soient déposés et que la British Columbia Securities Commission lève l’ordre. L’entreprise affirme son engagement à respecter les lignes directrices d’information alternatives et déclare qu’aucune information importante n’est restée non divulguée.
NextGen Food Robotics Corp. (CBOE: NGRB; OTC Pink: NGRBF; Frankfurt: O83) hat ein zweiwöchentliches Statusupdate zu seiner Management Cease Trade Order (MCTO) bereitgestellt. Das Unternehmen verzögert die Einreichung der erforderlichen Finanzdokumente für das zum 30. April 2024 endende Geschäftsjahr und das erste Quartal 2024. Ursprünglich war eine Einreichung bis zum 31. August 2024 geplant, doch das Unternehmen hat das Einreichdatum mehrfach geändert, wobei die letzte Erwartung auf den 11. Oktober 2024 festgelegt wurde.
Die MCTO, die am 30. Juli 2024 erlassen wurde, beschränkt den CEO und CFO daran, Wertpapiere des Unternehmens zu handeln, bis die erforderlichen Dokumente eingereicht und die British Columbia Securities Commission den Befehl zurücknimmt. Das Unternehmen bekräftigt sein Engagement zur Erfüllung alternativer Informationsrichtlinien und erklärt, dass keine wesentlichen Informationen unoffenbart bleiben.
Negative
- Repeated delays in filing required financial documents
- Management Cease Trade Order (MCTO) restricting CEO and CFO from trading company securities
- Failure to file Q1 Interim Report by the September 16, 2024 deadline
VANCOUVER, BC, Sept. 24, 2024 (GLOBE NEWSWIRE) — NextGen Food Robotics Corp. (the “Company”) (CBOE: NGRB; OTC Pink: NGRBF; Frankfurt: O83) is providing an update in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“).
On August 13, 2024, the Company announced that it applied for a management cease trade order (“MCTO“) with the British Columbia Securities Commission (“BCSC“) in connection with the delay in filing of its audited annual financial statements for the year ended April 30, 2024, related management discussion and analysis, CEO and CFO certificates and annual information form for the fiscal year ended April 30, 2024 (collectively, the “Required Documents“) by the prescribed filing deadline (the “Original Announcement“). At that time, based on information then-available, the Company expected to file the Required Documents by August 31, 2024. The MCTO was issued on July 30, 2024 and restricts its Chief Executive Officer and Chief Financial Officer from trading in securities of the Company, whether direct or indirect, until the Company files the Required Documents and the BCSC revokes the MCTO. On August 27, 2024, in its first bi-weekly status update, the Company announced that it expected to file the Required Documents by September 16, 2024. On September 12, 2024, the Company announced that it expected to file the Required Documents by September 27, 2024.
As of today’s date, the Company expects that the Required Documents will be filed by October 11, 2024. In addition, the Company’s interim financial report, related management discussion and analysis and certificates of the Chief Executive Officer and Chief Financial Officer for the first quarter of 2024 ended July 31, 2024 (the “Q1 Interim Report“) which was required to be filed by September 16, 2024, is now expected to be filed by October 11, 2024. The Company will file the Q1 Interim Report in conjunction with, and immediately following, the filing of the Required Documents.
The Company confirms that since the date of the Original Announcement: (i) other than as described above and in its first and second bi-weekly status update, there have been no changes to the information set out in the Original Announcement that would be expected to be material to an investor; (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) other than the failure to file the Q1 Interim Report, there has not been any other specified default by the Company under NP 12-203, and, no such other default is anticipated; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms it will continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 so long as it remains in default of the requirement to file the Required Documents and the Q1 Interim Report.
About NextGen Food Robotics
Nextgen Food Robotics operates commissary and ghost kitchens from its two locations in Vancouver, BC. Additionally, the Company is developing the “Lily app”, which is an AI-powered mobile application designed to provide personalized food recommendations and automated meal-planning.
ON BEHALF OF THE BOARD OF DIRECTORS
Paul Francisco Rivas, Chief Executive Officer
1 (236) 471-1357
privas@nextgenai.ca
Cautionary Note on Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions and in this news release include statements respecting the timing of filing of the Company’s Required Filings and Q1 Interim Report, and Company’s compliance with the MCTO and NP 12-203. In particular, this news release contains forward-looking information relating to the anticipated date for filing the annual financial statements for the year ended April 30, 2024, related management’s discussion and analysis, related certifications for the financial year ended April 30, 2024, the Company’s annual information form for the fiscal year ended April 30, 2024 and the Q1 Interim Report. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this news release. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
Neither the Cboe Canada nor its Market Regulator (as that term is defined in the Listing Manual of Cboe Canada) accepts responsibility for the adequacy or accuracy of this news release.
FAQ
When does NextGen Food Robotics Corp. (NGRBF) expect to file its delayed financial documents?
NextGen Food Robotics Corp. expects to file its delayed financial documents, including the Required Documents and Q1 Interim Report, by October 11, 2024.
What is the current status of the Management Cease Trade Order (MCTO) for NextGen Food Robotics Corp. (NGRBF)?
The MCTO, issued on July 30, 2024, remains in effect, restricting the CEO and CFO from trading company securities until the required documents are filed and the British Columbia Securities Commission revokes the order.
How many times has NextGen Food Robotics Corp. (NGRBF) revised its filing date for the delayed financial documents?
NextGen Food Robotics Corp. has revised its filing date multiple times. Initially expected to file by August 31, 2024, it was then pushed to September 16, then September 27, and now to October 11, 2024.
What financial periods are affected by NextGen Food Robotics Corp.’s (NGRBF) filing delay?
The filing delay affects the audited annual financial statements for the year ended April 30, 2024, and the first quarter interim report for the period ended July 31, 2024.
