Beyond Medical Technologies Announces Filing of Application for Management Cease Trade Order
Rhea-AI Summary
Beyond Medical Technologies (CSE: DOCT, OTC: DOCKF) has announced it will likely miss the April 30, 2025 deadline for filing its annual financial statements and related documents for the fiscal year ended December 31, 2024. The company has applied for a Management Cease Trade Order (MCTO) with the British Columbia Securities Commission due to delays caused by a recent management team transition.
The company expects to complete the Annual Filings by June 30, 2025. During the MCTO period, public trading of shares will continue, but company executives and certain insiders will be restricted from trading. Beyond Medical will issue bi-weekly status updates and comply with alternative information guidelines under National Policy 12-203.
Positive
- Public trading of shares continues unaffected
- Company not subject to insolvency proceedings
Negative
- Delayed filing of 2024 annual financial statements and related documents
- Management team transition causing operational delays
- Trading restrictions imposed on company insiders and executives
News Market Reaction – DOCKF
On the day this news was published, DOCKF gained 257.14%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2025) - Beyond Medical Technologies Inc. (CSE: DOCT) (FSE: 7FM) (OTC Pink: DOCKF) ("Beyond Medical" or the "Company") announced today that it will likely miss its filing deadline of April 30, 2025 to file audited annual financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the financial year ended December 31, 2024 (collectively, the "Annual Filings"), as required under applicable Canadian securities laws.
In connection with the Company's inability to file the Annual Filings on time, the Company has applied for a Management Cease Trade Order ("MCTO") under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") and is waiting for the British Columbia Securities Commission approval.
The Company is applying for a MCTO as a result of delays caused by the recent transition to a new management team.
The Company expects to file the Annual Filings as soon as they are available and by no later than June 30, 2025. The Company will issue a news release once the Annual Filings have been filed. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the Company to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.
During the MCTO, the general investing public will continue to be able to trade in the Company's common shares listed on the Canadian Securities Exchange. However, the Company's Chief Executive Officer, Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities will not be able to trade in the Company's common shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company except in accordance with legally binding obligations to do so existing as of April 30, 2025, being the date of the Company's anticipated continuous disclosure default.
The Company is not subject to any insolvency proceedings. If the Company provides any information to any of its creditors during the period in which it is in default of filing the Annual Filings, the Company
About Beyond Medical Technologies Inc.
Beyond Medical Technologies Inc. is a healthcare technology company integrating blockchain infrastructure to enhance patient outcomes and operational efficiency across the medical ecosystem.
On behalf of the Board of Directors
Daniel Liu, Chief Executive Officer
Email: danzliu94@gmail.com
https://beyond-md.ca/
Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the accuracy or adequacy of this release.
Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "expects", "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, management expectations that it will miss the filing deadline for the Annual Filings and the ability of the Company to file the Annual Filings within the time period described herein.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the Company being unable file the Annual Filings in the proposed timeframe; recent market volatility; and the state of the financial markets for the Company's securities.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Company will be able to file the Annual Filings in the proposed time frame.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248858
FAQ
Why did Beyond Medical Technologies (DOCKF) request a Management Cease Trade Order in April 2025?
Can investors trade Beyond Medical (DOCKF) shares during the Management Cease Trade Order?
When will Beyond Medical Technologies (DOCKF) file its 2024 annual financial statements?
What are the reporting requirements for Beyond Medical during the MCTO period?
