BioNxt Solutions Announces Delay In Filing 2024 Annual Financial Statements

Rhea-AI Summary

BioNxt Solutions (OTC:BNXTF) has announced a delay in filing its 2024 annual financial statements, management discussion and analysis, and CEO/CFO certifications. The company missed the April 30, 2025 deadline due to delays in receiving required financial information. BioNxt expects to complete the Annual Filings by June 28, 2025. As a result, a management cease trade order (MCTO) has been imposed against the CEO and CFO, restricting them from trading company securities until the filings are completed, with a deadline of June 30, 2025. The company will follow Alternative Information Guidelines and confirms no other undisclosed material information.

Positive

• None.

Negative

• Delayed filing of 2024 annual financial statements beyond the required deadline
• Management cease trade order (MCTO) imposed against CEO and CFO
• Potential compliance issues indicated by the delay in financial reporting

VANCOUVER, BC / ACCESS Newswire / May 1, 2025 / BioNxt Solutions Inc. ("BioNxt" or the "Company") (CSE:BNXT)(OTC:BNXTF)(FSE:BXT), announces that its annual financial statements for the year ended December 31, 2024, the related management discussion and analysis, and certifications of the Chief Executive Officer (the "CEO") and the Chief Financial Officer (the "CFO") (collectively, the "Annual Filings"), were not filed by the required filing deadline of April 30, 2025 due to delays in receiving certain financial information required for the Annual Filings. The Company is working diligently with its auditors to complete the Annual Filings and expects to be able to file the Annual Filings on or before June 28, 2025.

The Company has applied to the applicable securities regulatory authorities and received a management cease trade order ("MCTO") imposed against the CEO and CFO of the Company precluding them from trading securities of the Company. The MCTO will be in effect until the Annual Filings are filed, and requires that they be filed on or before June 30, 2025.

Until the Annual Filings are filed, the Company intends to satisfy the provisions of the Alternative Information Guidelines set out in National Policy 12-203 - Management Cease Trade Orders. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

About BioNxt Solutions Inc.

BioNxt Solutions Inc. is a bioscience innovator focused on next‐generation drug delivery technologies, diagnostic screening systems, and active pharmaceutical ingredient development. The Company's proprietary platforms-Sublingual (Thin‐Film), Transdermal (Skin Patch), and Oral (Enteric‐Coated Tablets)-target key therapeutic areas, including autoimmune diseases, neurological disorders, and longevity.

With research and development operations in North America and Europe, BioNxt is advancing regulatory approvals and commercialization efforts, primarily focused on European markets. BioNxt is committed to improving healthcare by delivering precise, patient‐centric solutions that enhance treatment outcomes worldwide.

BioNxt is listed on the Canadian Securities Exchange: BNXT, OTC Markets: BNXTF and trades in Germany under WKN: A3D1K3. To learn more about BioNxt, please visit www.bionxt.com.

Investor Relations & Media Contact

Wolfgang Probst, CFO and Director
Email: investor.relations@bionxt.com
Phone: +1 778.598.2698

Cautionary Statement Regarding "Forward‐Looking" Information

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking information in this news release includes the anticipated filing date of the Annual Filings. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: BioNxt Solutions Inc.

View the original press release on ACCESS Newswire

FAQ

Why did BioNxt Solutions (BNXTF) delay filing its 2024 annual financial statements?

BioNxt Solutions delayed filing due to delays in receiving certain financial information required for the Annual Filings. The company is working with auditors to complete the filings by June 28, 2025.

What is the impact of the MCTO on BioNxt Solutions (BNXTF) executives?

The MCTO prevents BioNxt's CEO and CFO from trading company securities until the Annual Filings are completed, which must be done by June 30, 2025.

When will BioNxt Solutions (BNXTF) file its delayed 2024 annual financial statements?

BioNxt Solutions expects to file its 2024 annual financial statements and related documents by June 28, 2025.

What happens if BioNxt Solutions (BNXTF) fails to file by June 30, 2025?

The press release does not specify consequences of missing the June 30 deadline, but it could result in additional regulatory actions or trading restrictions.