Core Viewpoint - Reeflex Solutions Inc. is unable to meet the December 29, 2025 filing deadline for its audited annual financial statements due to the complexity of transitioning to an IFRS-compliant public company following a reverse takeover and acquisition [1][2] Group 1: Filing Delays and Restatements - The company intends to restate its interim financial statements for the quarter ended May 31, 2025, to reflect results only from the acquisition date of May 15, 2025, in accordance with IFRS [2] - The timeline for completing the audit and preparing the annual filings has been extended due to first-time public company audit requirements [2][3] Group 2: Management Cease Trade Order (MCTO) - The company has applied for a Management Cease Trade Order (MCTO) from the Alberta Securities Commission, which would restrict the CEO and CFO from trading in the company's securities until the required filings are made [4] - The MCTO will not affect the general investing public's ability to trade in the company's common shares [4] Group 3: Operational Performance - The restatement of the Q3 filings is technical and does not impact the company's core operations, customer relationships, or business momentum [6] - The company continues to execute on manufacturing and international growth initiatives, including receiving $2.6 million in purchase orders for products in Saudi Arabia and a $3.4 million contract for product design and manufacturing [6]
CORRECTION – Reeflex Solutions Inc. Announces Delay in Filing Annual Financial Statements, Intent to Restate Quarterly Financial Statements and Application for Management Cease Trade Order
Globenewswire·2025-12-18 01:39