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GameOn Entertainment Technologies Inc. (OTCQB: GMETF) provided an update regarding a management cease trade order (MCTO) application with the British Columbia Securities Commission. Due to delays in finalizing the audit following an auditor change and ongoing efforts related to web3 revenue and grants, the company’s Annual Filings for the fiscal year ended December 31, 2022, are not expected by the May 1, 2023, deadline. The company aims to submit these filings by May 30, 2023, and will provide updates accordingly. During the MCTO, the CEO and CFO will not be able to trade the company's shares; however, the general public can still trade. The company also plans to issue 7,260,080 warrants priced at $0.06, expiring in two years.
GameOn Entertainment Technologies Inc. (CSE: GET, OTCQB: GMETF) announced a delay in finalizing its annual financial statements for the fiscal year ended December 31, 2022, due to ongoing audit complications. The company expects the annual filings to be completed by May 30, 2023, and has applied for a Management Cease Trade Order (MCTO) from the British Columbia Securities Commission. The delays are attributed to additional reporting requirements related to web3 revenue and a change in auditors. During the MCTO, the company’s CEO and CFO will be prohibited from trading shares, but public trading can continue. GameOn will issue bi-weekly status updates until the filings are complete, complying with alternative information guidelines outlined by securities laws.
GameOn (CSE: GET) (OTCQB: GMETF) announced a non-dilutive grant from The HBAR Foundation to support the launch of its web3 game, Karateka, on the Hedera network. The funding will bolster GameOn's PLAYN3XT platform, aimed at enhancing brand engagement through NFT-powered games. The partnership with Hedera positions GameOn to leverage a network backed by notable organizations and further validates its strategic focus on web3 consumer engagement.