FOBI AI Inc. Announces Reinstatement to Trading on TSX Venture Exchange and Other Corporate Updates
Rhea-AI Summary
Fobi AI (TSXV: FOBI, Pink: FOBIF) announced that the TSX Venture Exchange has accepted the reinstatement to trading of its common shares under the symbol “FOBI”, with trading expected to resume following a TSXV bulletin.
The company disclosed current non-compliance with TSXV and securities law requirements for board/audit committee composition and timing of its annual general meeting, which it plans to address by adding directors and holding an AGM by October 8, 2026. As of March 31, 2026, Fobi reported a working capital deficiency of $4,630,223, later reduced to $3,380,023 after correcting a $1,250,200 financial statement classification error from liabilities to equity. Fobi outlined a new financial control and reporting plan and detailed the prior termination of market making and social media marketing agreements.
Positive
- Reinstatement to TSXV trading accepted, with shares to trade under symbol “FOBI”
- Working capital deficiency reduced by $1,250,200 due to error correction reclassifying liability to equity
- New financial control and reporting plan implemented to enhance compliance and reduce risk of reporting errors
Negative
- Working capital deficiency of $3,380,023 as of March 31, 2026 after correction
- Current non-compliance with TSXV and securities law requirements for board and audit committee composition
- Current non-compliance with TSXV and legal requirements on timing of annual general meeting; next AGM targeted by October 8, 2026
- Company exploring additional equity-based offerings or other financings to address working capital deficiency, which may affect existing shareholders
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, BC, Aug. 10, 2026 (GLOBE NEWSWIRE) -- FOBI AI Inc. (FOBI:TSXV) (Pink:FOBIF) (“Fobi” or the “Company”), a company that harnesses AI and data intelligence to enable digital transformation, is pleased to announce that the TSX Venture Exchange (the “TSXV”) has accepted the reinstatement to trading in respect of the Company’s common shares (“Shares”) on the TSXV under the symbol “FOBI”. Trading in respect of the Company’s Shares is expected to recommence shortly following issuance of a TSXV bulletin in connection therewith.
The board of directors and the audit committee of the Company currently comprises of three (3) members, being, Rob Anson, Chief Executive Officer of the Company, Jeffrey Hyman, the Chief Financial Officer of the Company, and Peter Green, an independent director of the Company. Accordingly, the Company is not currently in compliance with applicable securities law and TSXV requirements on board and audit committee composition. The Company is actively seeking additional directors to facilitate compliance with applicable securities law and TSXV requirements on board of directors and audit committee composition.
The Company is not currently in compliance with TSXV and applicable legal requirements on the holding of its annual general meeting as its last annual general meeting was held on June 6, 2024. The Company intends to hold its next annual general meeting by no later than October 8, 2026.
As of March 31, 2026, the date of its most recently available financial statements, the Company had a working capital deficiency of
The Company inadvertently recorded a subscription liability of
The Company has also implemented a new financial control and reporting plan to ensure enhanced compliance with financial reporting requirements which includes structured preparation and review protocols for its financial reports including specified review procedures by management and board, and improved organization and communication protocols to ensure all members of its financial reporting team are kept informed on all material transactions. The Company believes that the implementation of this new plan will reduce the risk of future errors in financial reporting. The Company also intends to seek to add additional members to its financial reporting team and audit committee following resumption of trading when appropriate candidates are identified.
Additionally, the Company previously engaged Independent Trading Group (ITG), Inc. (“ITG”) to provide market making services in accordance with TSXV policies pursuant to a market making services agreement dated April 24, 2020 (the “ITG Agreement”). ITG traded securities of the Company on the TSXV with the objective of maintaining an orderly market of the Company’s securities. In consideration of the services provided by ITG, the Company paid ITG a monthly fee of
ITG is a Toronto based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
The Company also previously engaged DS Market Solutions Inc. (“DSMS”) to provide market making services in accordance with TSXV policies to the Company pursuant to an agreement dated July 2, 2024 (the “DSMS Agreement”). DSMS traded securities of the Company on the TSXV with the objective of providing liquidity and stability and enhancing market depth with respect to the Company’s securities. In consideration of the services provided by DSMS, the Company paid DSMS a monthly fee of
DSMS is an equity trading advisor to issuers seeking to enhance liquidity in their publicly traded securities. DSMS is based in Mississauga, Ontario and can be contacted at davidsears@dsmarketsolutions.com and via its website at https://www.dsmarketsolutions.com/. David Sears in the sole owner of DSMS and provided the services on behalf of DSMS.
The Company also previously engaged Outside the Box Capital Inc. (“OTB”) to provide social media marketing services in accordance with TSXV policies to the Company pursuant to an agreement dated April 13, 2023 (the “OTB Agreement”). Pursuant to the OTB Agreement, OTB provided certain social media marketing services to the Company including, without limitation, planning content to be posted to the Company’s social media channels, assisting in social media and other community driving mediums, and distributing Company insights and announcements. The OTB Agreement was terminated effective June 22, 2023, following which all services provided by OTB ceased. In consideration of the services provided by OTB, the Company paid OTB a fee of
OTB is a marketing services firm with an address at 2202 Green Orchard Place, Oakville, ON, L6H 4V4 (phone: (289) 259-4455, email: jason@outsidethebox.capital).
About Fobi
Fobi AI Inc. (TSXV: FOBI, Pink: FOBIF) is a data and AI technology company that enables digital transformation through real-time data, mobile-wallet engagement, and Web3-ready solutions. By integrating strategy, technical architecture, and execution, Fobi helps clients across retail, sports, healthcare, and regulated industries translate digital initiatives into measurable business results.
For more information, please contact:
| Fobi AI Inc. | Fobi Website: www.fobi.ai | |
| Rob Anson, CEO | Facebook: @ Fobiinc | |
| T : +1 877-754-5336 Ext. 3 | Twitter: @ Fobi_inc | |
| E: ir@fobi.ai | LinkedIn: @ Fobiinc |
Forward Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information, including statements regarding the Company’s annual general meeting, the Company’s ability to attract and retain additional directors to facilitate compliance with applicable securities laws and TSXV policies on board of directors and audit committee composition matters, the Company’s ability to improve its financial reporting and enhance its financial reporting team, the Company’s ability to reduce its working capital deficiency, and other statements characterized by words such as “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be”, “potential” and other similar words, or statements that certain events or conditions “may”, “should” or “will” occur. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company’s control, including, without limitation, market competition, the impact of general economic and industry conditions, competition, stock market volatility, ability to attract and retain talent on economically viable terms, TSX Venture Exchange approval conditions, and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes to volatile exchange rates, market conditions, market competition and other economic and market factors. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, and results, levels of activity or achievements.
The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
