CoinAnalyst Corp.: Default Announcement

CoinAnalyst Corp.: Default Announcement

CoinAnalyst Corp. (CSE: COYX) (FSE: 1EO) (the "Corporation") provides this default announcement indicating the Corporation's anticipated failure to file its annual financial statements for the year ended December 31, 2021, related management discussion and analysis and certifications (collectively, the "Financial Statements") before the prescribed filing deadlines.

The reasons for the default in filing of the Financial Statements prior to the required date is due to a combination of factors, including that the Corporation became aware that prior auditor will not able to take on mandate late following which the Corporation initiated immediate search for a new auditor, which took longer than expected as auditors are increasingly hesitant to take on crypto mandates, the hiring and onboarding of new auditor, and delays in audit of the new auditor as it needed to undergo additional procedures.

Considering the foregoing factors, it is the Corporation's submission that the present circumstances warrant the imposition of a management cease trade order ("Management CTO"), rather than a cease trade order ("CTO"), as contemplated under National Policy 12-203 - Cease Trade Order Orders for Continuous Disclosure Defaults ("NP 12-203"). The Corporation has applied for a Management CTO, however there is no assurance that it will be granted.

The Corporation's Financial Statements are required to be filed within 60 days of the prescribed deadline which is July 2, 2022 ("Extended Deadline"). The Corporation's failure to file such within this period may result in the securities commissions or regulators imposing an Issuer Cease Trade Order.

The Corporation has confirmed that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 for so long as it remains in default for failure to file the Financial Statements.

The Corporation proposes to remedy the default by diligently working with its auditor to ensure the filing of its Financial Statements by the prescribed timeline herein. The timeframe is ultimately dependent upon the auditor's response and delivery, which the Corporation was expecting to be completed by May 2, 2022, but is now expecting to complete this by the Extended Deadline.

Further, the Corporation confirms that it intends to satisfy the requirements to provide Default Status Reports as prescribed by NP 12-203 so long as it remains in default of its requirements to file its Financial Statements within the prescribed period of time. Should the Corporation fail to file the appropriate Default Status Reports as prescribed by NP 12-203, the securities commissions or regulators may, as a result of such failure, impose an Issuer Cease Trade Order.

The Corporation confirms that it is not subject to any insolvency proceeding as of the date hereof. The Corporation also confirms that there is no other material information concerning the affairs of the Corporation that have not been generally disclosed as of the date herein.

For more information, please contact:

Andrew Sazama
Chief Operating Officer and Director
Email: contact@coinanalyst.tech
Phone: + 49 69 2648485 - 20

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121783

News Provided by Newsfile via QuoteMedia

COYX:CC
The Conversation (0)
QuantGate and CoinAnalyst Announce LOI to Merge, Creating One of the Leading Providers of Artificial Intelligence and Machine Learning Solutions for the Financial Services Industry

QuantGate and CoinAnalyst Announce LOI to Merge, Creating One of the Leading Providers of Artificial Intelligence and Machine Learning Solutions for the Financial Services Industry

QuantGate Systems Inc. (OTCQB: QGSI) (the "QuantGate" or "Company"), an Artificial Intelligence ("AI"), Machine Learning ("ML") SaaS-based Fintech solutions provider is pleased to announce that it has entered into a non-binding letter of intent dated October 14, 2022 (the "LOI") with CoinAnalyst... Keep Reading...
CoinAnalyst and QuantGate Announce LOI to Merge, Creating One of the Leading Providers of Artificial Intelligence and Machine Learning Solutions for the Financial Services Industry

CoinAnalyst and QuantGate Announce LOI to Merge, Creating One of the Leading Providers of Artificial Intelligence and Machine Learning Solutions for the Financial Services Industry

CoinAnalyst Corp (CSE: COYX) (FSE: 1EO) ("CoinAnalyst" or the "Company"), is pleased to announce that it has entered into a non-binding letter of intent dated October 14, 2022 (the "LOI") with QuantGate Systems Inc. (OTCQB: QGSI) ("QuantGate") pursuant to which the Company and QuantGate will... Keep Reading...
CoinAnalyst Rolls Out New Data/AI Engine for Insights

CoinAnalyst Rolls Out New Data/AI Engine for Insights

CoinAnalyst provides a detailed update on their Insight platform's backend architectureCoinAnalyst Corp. (CSE: COYX) (FSE: 1EO) ("CoinAnalyst" or the "Company"), a company that provides an artificial intelligence-based big data analytics platform which delivers detailed AI-powered analysis of... Keep Reading...
CoinAnalyst Corp. Announces Revocation of Management Cease Trade Order

CoinAnalyst Corp. Announces Revocation of Management Cease Trade Order

CoinAnalyst Corp. (CSE: COYX) (FSE: 1EO) (the "Corporation") is pleased to announce that, as a result of the filing of its annual financial statements and management's discussion and analysis for the financial year ended December 31, 2021, and the CEO and CFO certificates, on July 14, 2022, the... Keep Reading...
CoinAnalyst Corp. Announces Intent to File an Amended and Restated Q1 Financial Statements

CoinAnalyst Corp. Announces Intent to File an Amended and Restated Q1 Financial Statements

CoinAnalyst Corp. (CSE: COYX) (FSE: 1EO) (the "Company") announces that the previously issued financial statements for the three months period ended March 31, 2022 and the corresponding management's discussion and analysis will be amended and restated. The amendments made to the December 31,... Keep Reading...
Bitcoi on a circuit board with a US$100 bill and stock market graphs overlay.

Crypto Market Update: Bitcoin Takes Back Losses, Analysts Predict Price Rally Will Continue

Here's a quick recap of the crypto landscape for Wednesday (October 8) as of 9:00 p.m. UTC. Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.Don't forget to follow us @INN_Technology for real-time news updates!Securities Disclosure:... Keep Reading...
Bitcoin and Australian flags waving against a sunset sky.

Australian Treasury Releases Draft Bill on Cryptocurrency Exchange Regulation

Australia has published a draft bill to regulate cryptocurrency exchanges, proposing to bring crypto platforms under the Australian Financial Services Licence (AFSL) regime.The bill forms part of Australia’s broader digital asset strategy, which was unveiled in March and is aimed at delivering... Keep Reading...
Bright lights form radiating patterns in a dark room, creating an illusion of endlessness.

Sid Powell on Maple Finance's Evolution and the Future of DeFi Lending

In the evolving world of decentralized finance (DeFi), institutional lending has emerged as a crucial frontier bridging traditional finance and blockchain innovation. Maple Finance, a DeFi lending platform managing over US$4 billion in assets, stands out as a leader. It takes a unique approach... Keep Reading...
Nasdaq building display promoting blockchain for safer, faster transactions.

XION and Fireblocks Partner to Accelerate Mass Market Blockchain Adoption

In a major step toward mainstream blockchain adoption, XION, a consumer-centric Layer-1 blockchain, has announced a strategic integration with Fireblocks, a digital asset infrastructure provider trusted by over 2,000 institutions, including BNY Mellon (NYSE:BK), Galaxy Digital (NASDAQ:GLXY) and... Keep Reading...
Bitcoin symbol overlaid on colorful financial graphs and candlestick charts.

2025 Crypto Market: Q3 Review and Forecast

The third quarter of the year was pivotal for the cryptocurrency market, which saw notable price movements, regulatory progress and growing institutional adoption. Bitcoin started the period near US$100,000 and periodically rose above US$120,000; it pulled back below US$110,000 in late September... Keep Reading...
Gold Bitcoin standing among other coins on a reflective surface.

Crypto Market Update: Bitcoin Price Hits New All-time High

Here's a quick recap of the crypto landscape for Monday (October 6) as of 9:00 p.m. UTC. Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.Don't forget to follow us @INN_Technology for real-time news updates!Securities Disclosure: I,... Keep Reading...

Latest Press Releases

Related News