- LevelJump Healthcare (TSXV: JUMP) anticipates a delay in filing its 2024 year-end financial statements.
- The Ontario Securities Commission is expected to issue a cease trade order due to missed April 30, 2025 deadline.
- The company experienced over 30% revenue growth, primarily from Alberta acquisitions, complicating timely financial integration.
LevelJump Healthcare Corp. (TSXV: JUMP) has announced a delay in filing its annual audited financial statements for the fiscal year ending December 31, 2024. The company attributes this delay to significant growth, which saw gross revenues increase by more than 30% between September 2023 and September 2024, largely driven by acquisitions in Alberta.
Due to missing the April 30, 2025, filing deadline, LevelJump expects the Ontario Securities Commission to issue a cease trade order. This delay stems from challenges in integrating historical and current records of multiple acquisitions into the company's existing accounting platform.
To mitigate these challenges and improve financial reporting, LevelJump has implemented new accounting software and enhanced controls. The company has also engaged Ernst & Young LLP as external consultants and made several improvements following a disclosure review by the OSC. These measures aim to ensure more timely integration of future acquisitions and improve the robustness and accuracy of financial reporting.
LevelJump anticipates being able to file the required documents within 30 days after the missed deadline. Once filed, the company intends to apply for the reinstatement of its TSX Venture Exchange listing, with a further announcement expected upon completion.
LevelJump Healthcare Corp. provides telehealth solutions to client hospitals and imaging centers via its Teleradiology division, in addition to offering in-person radiology services through its Diagnostic Centres. The company's operations are primarily focused on critical care for urgent and emergency patients, reinforcing essential community relationships.
