StageZero Life Sciences Announces Update on Filing of Full Year 2023 Financials Under the Failure To File Cease Trade Order
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TORONTO, ON / ACCESSWIRE / July 9, 2024 / StageZero Life Sciences, Ltd. (TSX:SZLS)(OTC PINK:SZLSF) ("StageZero" or the "Company"), an integrated healthcare company with the first and only mRNA gene expression multi-cancer diagnostic for screening for multiple, key cancers from a single sample of blood - Aristotle, and an oncologist-led adjunctive metabolic treatment protocol with early data - METRICS study - showing an improvement in outcome in cancer patients, today announced further to its press releases of April 2, 2024, April 4, 2024, April 9, 2024, May 23, 2024 and July 3, 2024, an update regarding its progress toward filing the full year 2023 financials and associated documents. The Company is under a Failure to File Cease Trade Order ("FFCTO").
On April 2, 2024 the Company put out a press release announcing a delay in the filing of the 2023 year end financials and explained that due to the Company not having the financial resources to fully pay the auditors to complete the 2023 audit, and thus establish an independent opinion, the financials would be delayed. The Ontario Securities Commission grants a company 90 days to complete the filing once a failure to file cease trade order has been enacted with automatic revocation of the FFCTO. Filing after 90 days requires an application, with fees, to be made to revoke the FFCTO. The Ontario Securities Commission advised StageZero that the Company had until July 8th to file its year end financials and associated documents to meet the 90 day automatic revocation criteria. The Company has essentially completed the audit as well as MD&A, AIF and associated documents. Full payment of the fees is in process but has not yet been completed. Full payment must be done before the filing can be made. Additionally, the Company is in compliance with filing of its interim Q1 2024 financials and associated documents, as per regulation.
The Company is working diligently on completing payment to the auditors and will advise when complete and application is being made to revoke the FFCTO.
The FFCTO prohibits any trading of securities, whether direct or indirect, in respect of each security of the Company in each jurisdiction in Canada until such time as the Company is able to complete the filing of the Annual Filings and successfully have a revocation of the FFCTO.
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.