- Else Nutrition (TSX: BABY, OTCQX: BABYF) issues a bi-weekly default status report due to audit delays.
- The Management Cease Trade Order (MCTO) restricts trading for CEO and CFO only.
- Annual financial filings expected by April 23, 2025, with a final deadline of May 30, 2025.
Else Nutrition Holdings Inc. (TSX: BABY, OTCQX: BABYF) has provided an update through a bi-weekly default status report following the British Columbia Securities Commission's issuance of a Management Cease Trade Order (MCTO). The order was implemented due to delays in completing the audit procedures for the company's annual financial statements, Management's Discussion and Analysis (MD&A), and Annual Information Form (AIF) for the year ending December 31, 2024.
The MCTO imposes trading restrictions exclusively on Else Nutrition's CEO and CFO, while allowing other shareholders to continue trading without restrictions. The company is actively working with its auditors to finalize the audits and plans to submit the necessary documents by April 23, 2025. However, they have set a final deadline of May 30, 2025, if needed.
The company remains committed to meeting the requirements set forth by the National Policy 12-203 and assures that there are no material changes in their operations since the last update. Else Nutrition is in continuous collaboration with its auditors to resolve any outstanding issues, with an expectation to lift the MCTO once the filings are completed.
