- Jack Nathan Health (JNH) missed the May 31, 2025 filing deadline for its FY 2024-25 financial statements due to complexities in its asset transfer to Well Health Technologies.
- The Ontario Securities Commission has issued a Failure-to-File Cease Trade Order on JNH's shares, halting trading in Canada until compliance is achieved.
- The company is actively working with auditors to complete the filings within a 90-day revocation period.
Jack Nathan Health (TSXV: JNH; OTCQB: JNHMF) announced its inability to meet the May 31, 2025, deadline for filing its audited consolidated financial statements, management's discussion and analysis (MD&A), and related certifications for the fiscal year ending January 31, 2025. The delay stems primarily from the complexity surrounding the December 1, 2024, Asset Purchase Agreement with Well Health Technologies Corp, where JNH transferred its Canadian medical clinic business.
The asset transfer, which included electronic medical records and clinical documents, has significantly extended the timeline for data retrieval and audit testing. Additionally, a change in external auditors and the transition of numerous employees to Well Health further contributed to the audit delay.
Consequently, the Ontario Securities Commission issued a Failure-to-File Cease Trade Order (CTO) on June 6, 2025, prohibiting the trading of JNH's securities across Canadian jurisdictions until the filings are complete and the order is revoked. Jack Nathan Health expects to file within the 90-day period necessary for the automatic revocation of the CTO.
CEO Mike Marchelletta emphasized the company's commitment to transparency and diligent efforts to finalize the audit. The company continues to operate its Canadian MedSpa clinics and evaluates strategic opportunities for its future business ventures in Canada, Mexico, and the USA.
