- Eguana Technologies (EGTYF, Financial) has received an MCTO extension until June 30, 2025, due to delays in filing FY2024 financial statements.
- The company faces auditing complexities related to its German subsidiary liquidation and inventory discrepancies.
- Eguana is actively working to hire an interim CFO and plans to file Q1 2025 financials post the annual filings.
Eguana Technologies Inc. (OTC Pink: EGTYF) has announced that the Alberta Securities Commission has extended its Management Cease Trade Order (MCTO) until June 30, 2025. The extension is necessary due to delays in filing the company's annual financial statements for the fiscal year 2024, initially anticipated by May 6, 2025.
The delay has been attributed to auditing complexities associated with the liquidation of Eguana's German subsidiary and inventory discrepancies with a third-party vendor. Additionally, resource constraints have further complicated the matter.
During the period of the MCTO, Eguana's CEO and CFO are prohibited from trading the company's securities, and Eguana cannot conduct share buybacks or issue securities to insiders or employees. However, this order does not restrict shareholders from trading their shares.
Eguana Technologies is making efforts to resolve these issues, including the recruitment of an interim CFO, and plans to file its first quarter 2025 financials soon after completing the annual filings. The company remains compliant with alternative information guidelines under NP 12-203 and confirms it is not under any insolvency proceedings.
Eguana's focus remains on building a more sustainable energy grid through its advanced energy storage systems, maintaining transparency with stakeholders during this regulatory period.
