NIKE(US:NKE) Thenewswire·2025-12-19 03:00Core Viewpoint - Universal Ibogaine Inc. is currently under a Management Cease Trade Order (MCTO) due to delays in filing its annual audited financial statements and is providing bi-weekly default status reports as required by regulatory authorities [1][3][5]. Financial Reporting - The company announced a delay in filing its annual audited financial statements for the year ended July 31, 2025, which were due by November 28, 2025 [2]. - A management cease trade order was granted by the Alberta Securities Commission on December 4, 2025, necessitating ongoing bi-weekly default status reports [3]. Audit and Restructuring - The company plans to complete the audit of its consolidated financial statements and file the required documents once the audit is finalized, which may depend on the outcome of its current restructuring process [4]. - There have been no material changes in the restructuring process since the last update, and the company continues to comply with alternative information guidelines [6]. Operational Updates - The Kelburn Recovery Centre, an addiction treatment operation, has been temporarily closed, and the company is exploring various financing options, including the potential sale of the Kelburn property [7]. - A Letter of Intent (LOI) for the planned sale is in progress, with further details to be disclosed once finalized [7]. Future Plans - Following the potential sale, the company intends to focus on its medical research business, specifically the effort to have ibogaine approved for use under its Clinical Trial Application to be submitted to Health Canada [11].