XTM Provides Update on Status of Financial Statements
31 Mai 2024 - 6:41AM
Business Wire
XTM Inc. ("XTM" or the "Corporation") (QB: XTMIF / CSE: PAID
/ FSE: 7XT) is providing an update to its previously announced
management cease trade order (the "MCTO") granted by the
Ontario Securities Commission (the “OSC”) under National
Policy 12-203 - Management Cease Trade Orders ("NP
12-203").
Pursuant to the MCTO, the Corporation’s CEO, Marilyn Schaffer,
and the Corporation’s CFO, Swapan Kakuman, may not trade in
securities of the Corporation until such time as the Corporation
files its annual audited financial statements, annual management's
discussion and analysis and related certifications for the year
ended December 31, 2023 (collectively, the "Required
Documents"), and the OSC revokes the MCTO.
The MCTO does not affect the ability of other shareholders to
trade their securities.
The Corporation has not yet filed the Required Documents,
however XTM is working diligently with its auditors and expects
that the Required Documents will be filed as soon as possible.
As previously reported, the delay is related to audit procedures
and a quality review to support reliance on third party service
organizations.
XTM also confirms that it intends to satisfy the provisions of
NP 12-203 and issue bi-weekly default status reports for so long as
they remain in default of the financial statement filing
requirement, containing any material changes to the information in
this release, all actions taken by XTM to remedy the default,
particulars of any failure by the Corporation to fulfill these
provisions, any subsequent defaults of XTM requiring a default
announcement and any other material information concerning the
affairs of the Corporation not previously disclosed.
About XTM
XTM, www.xtminc.com, is a Miami and Toronto-based fintech
innovator in the neo-banking space, helping businesses and service
workers in the hospitality and personal care space disseminate and
access earned wages and gratuities. XTM's Today™ Solution,
comprised of a free mobile app and a Visa or Mastercard debit card
with free banking features, is used by thousands of restaurants,
salons and staff across Canada and the United States. XTM is a
global card issuer and real-time payment specialist. Our technology
is used by Restaurants, Salons and service staff at no charge to
automate and expedite Earned Wage and Gratuity Access, increasing
time and attendance and eliminating cash from ecosystems. XTM's
Today solution drives operational efficiencies and delivers a
bespoke user experience designed specifically for service
workers.
The CSE has not approved nor disapproved the contents of this
press release, and the CSE does not accept responsibility for the
adequacy or accuracy of this release.
Disclaimer for Forward-Looking Statements
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities laws. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect", "likely" and "intend" and statements that an event or
result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. Forward-looking information
in this press release includes, without limitation, statements
relating to the date of filing of the Required Documents and the
satisfaction of the provisions of NP 12- 203.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on
circumstances that will occur in the future and there are many
factors that could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking
statements.
The forward-looking information contained herein is made as of
the date of this press release and is based on the beliefs,
estimates, expectations and opinions of management on the date such
forward looking information is made. The Corporation undertakes no
obligation to update or revise any forward looking information,
whether as a result of new information, estimates or opinions,
future events or results or otherwise or to explain any material
difference between subsequent actual events and such forward
looking information, except as required by applicable law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240530839333/en/
Marilyn Schaffer E: finance@xtminc.com T: 416.260.1641
XTM (TG:7XT)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
XTM (TG:7XT)
Historical Stock Chart
Von Dez 2023 bis Dez 2024