Clear Blue Technologies Provides Second Bi-Weekly MCTO Default Status Report
Rhea-AI Summary
Clear Blue Technologies (OTCQB: CBUTF) issued its second bi-weekly default status report under NP 12-203 regarding delayed 2025 audited annual filings. A management cease trade order applies only to the CEO and CFO, with other shareholders unaffected.
The audit by Kreston GTA LLP is ongoing and Annual Filings are now expected on or about June 23, 2026, later than the prior May 28 target. Clear Blue reports no new defaults, no insolvency proceedings, and no undisclosed material information, and intends to keep issuing bi-weekly updates until filings are completed.
AI-generated analysis. Not financial advice.
Positive
- Revised target date of on or about June 23, 2026 for Annual Filings
- Management cease trade order applies only to CEO and CFO, not other shareholders
- Auditors continuing remaining procedures for 2025 audit, with progress reported
- Company reports no additional specified defaults beyond the original filing delay
- Company confirms it is not subject to any insolvency proceedings
Negative
- Audited 2025 Annual Filings delayed past April 30, 2026 statutory deadline
- Filing timeline extended beyond previously communicated May 28, 2026 target
- Management cease trade order currently in place against CEO and CFO
Toronto, Ontario--(Newsfile Corp. - May 29, 2026) - Clear Blue Technologies International Inc. (TSXV: CBLU) (FSE: 0YA0) ("Clear Blue"), the Smart Off-Grid™ Company, is providing this bi-weekly default status report in accordance with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders ("NP 12-203").
As previously announced on May 4, 2026, the Company applied for, and the British Columbia Securities Commission (the "BCSC"), as principal regulator, issued a management cease trade order (the "MCTO") against the Chief Executive Officer and the Chief Financial Officer of the Company. The MCTO was issued in connection with the delay in the filing of the Company's audited annual consolidated financial statements, related management's discussion and analysis, and related CEO and CFO certifications for the financial year ended December 31, 2025 (collectively, the "Annual Filings"), which were required to be filed on or before April 30, 2026.
The MCTO does not affect the ability of shareholders who are not insiders of the Company to trade their securities.
Status Update
The Company's auditors, Kreston GTA LLP, are continuing to complete the remaining audit procedures for the fiscal year ended December 31, 2025. The audit process is progressing and the Company now expects to file the Annual Filings on or about June 23, 2026. The delay beyond the previously communicated target of May 28, 2026, is attributable to the additional time required by the auditors to complete certain remaining procedures. There are no other material changes to the information contained in the Company's default announcement dated May 4, 2026, or the first bi-weekly default status report dated May 18, 2026.
The Company continues to work diligently with its auditors to complete the audit and finalize all required filings. The CEO, CFO, Board of Directors, and Audit Committee continue to monitor progress and do not foresee any barriers to successful completion of the Annual Filings within the revised timeline.
The Company has not failed to fulfill any of its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203.
The Company has not identified any subsequent specified default beyond the default which is the subject of the default announcement dated May 4, 2026.
The Company is not subject to any insolvency proceedings. There is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and will issue further bi-weekly default status reports as required until the Annual Filings have been filed. The Company will issue a news release once the Annual Filings have been completed and filed.
About Clear Blue Technologies International
Clear Blue Technologies provides Smart Off-Grid™ power solutions and services for mission-critical infrastructure such as telecommunications, Internet of Things (IoT), and street lighting. The Company's technology enables cost savings, predictive maintenance, and reliable power in remote or challenging environments.
For Further Information:
Clear Blue Technologies International Inc.
Miriam Tuerk
Co-Founder and CEO
Phone: +1 (416) 433-3952
Email: investors@clearbluetechnologies.com
Website: www.clearbluetechnologies.com
Panolia Investor Relations Inc.
Brandon Chow
Principal & Founder
Phone: +1 (647) 598-8815
Email: brandon@panoliair.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299309