LevelJump Announces Anticipated Delay in Filing Year-End Reporting Documents
LevelJump Healthcare has announced a delay in filing its annual audited financial statements for the fiscal year ending December 31, 2024. The company expects a cease trade order from the Ontario Securities Commission due to missing the April 30, 2025 deadline.
The delay stems from the company's significant growth, with gross revenues increasing over 30% between September 2023 and September 2024, primarily due to Alberta acquisitions. To address these challenges, LevelJump has:
- Implemented new accounting software and controls
- Engaged Ernst & Young as external consultants
- Made improvements following OSC's disclosure review
LevelJump expects to file the required documents within 30 days after the deadline and plans to apply for reinstating its TSX Venture Exchange listing afterward.
LevelJump Healthcare ha annunciato un ritardo nella presentazione del bilancio annuale certificato per l'esercizio chiuso al 31 dicembre 2024. La società si aspetta un ordine di sospensione delle negoziazioni da parte della Ontario Securities Commission a causa del mancato rispetto della scadenza del 30 aprile 2025.
Il ritardo è dovuto alla significativa crescita dell'azienda, con ricavi lordi aumentati di oltre il 30% tra settembre 2023 e settembre 2024, principalmente grazie alle acquisizioni in Alberta. Per affrontare queste difficoltà, LevelJump ha:
- Implementato nuovi software e controlli contabili
- Coinvolto Ernst & Young come consulenti esterni
- Apportato miglioramenti a seguito della revisione delle comunicazioni della OSC
LevelJump prevede di presentare i documenti richiesti entro 30 giorni dalla scadenza e intende richiedere successivamente la reintegrazione nella quotazione alla TSX Venture Exchange.
LevelJump Healthcare ha anunciado un retraso en la presentación de sus estados financieros auditados anuales correspondientes al ejercicio fiscal que finaliza el 31 de diciembre de 2024. La empresa espera una orden de suspensión de negociación por parte de la Ontario Securities Commission debido a no cumplir con la fecha límite del 30 de abril de 2025.
El retraso se debe al crecimiento significativo de la compañía, con ingresos brutos que aumentaron más del 30% entre septiembre de 2023 y septiembre de 2024, principalmente por adquisiciones en Alberta. Para abordar estos desafíos, LevelJump ha:
- Implementado nuevo software y controles contables
- Contratado a Ernst & Young como consultores externos
- Realizado mejoras tras la revisión de divulgación de la OSC
LevelJump espera presentar los documentos requeridos dentro de los 30 días posteriores a la fecha límite y planea solicitar la reinstalación en la lista de la TSX Venture Exchange posteriormente.
LevelJump Healthcare는 2024년 12월 31일 종료되는 회계연도에 대한 연례 감사 재무제표 제출이 지연될 것이라고 발표했습니다. 이 회사는 2025년 4월 30일 마감일을 놓쳐 Ontario Securities Commission으로부터 거래정지 명령을 받을 것으로 예상하고 있습니다.
지연의 원인은 회사의 급격한 성장에 있으며, 2023년 9월부터 2024년 9월까지 총수익이 30% 이상 증가했는데, 주로 앨버타 지역 인수 때문입니다. 이 문제를 해결하기 위해 LevelJump는 다음과 같은 조치를 취했습니다:
- 새로운 회계 소프트웨어 및 통제 시스템 도입
- Ernst & Young을 외부 컨설턴트로 고용
- OSC의 공시 검토 후 개선 사항 반영
LevelJump는 마감일 이후 30일 이내에 필요한 서류를 제출할 계획이며, 이후 TSX 벤처 거래소 상장 재개를 신청할 예정입니다.
LevelJump Healthcare a annoncé un retard dans le dépôt de ses états financiers annuels audités pour l'exercice clos au 31 décembre 2024. La société s'attend à une ordonnance de suspension de négociation de la part de la Ontario Securities Commission en raison du non-respect de la date limite du 30 avril 2025.
Ce retard est dû à la croissance significative de l'entreprise, avec une augmentation des revenus bruts de plus de 30% entre septembre 2023 et septembre 2024, principalement grâce à des acquisitions en Alberta. Pour faire face à ces défis, LevelJump a :
- Mis en place un nouveau logiciel comptable et des contrôles
- Fait appel à Ernst & Young en tant que consultants externes
- Apporté des améliorations suite à la révision des divulgations par l'OSC
LevelJump prévoit de déposer les documents requis dans les 30 jours suivant la date limite et envisage de demander la réintégration de sa cotation à la TSX Venture Exchange par la suite.
LevelJump Healthcare hat eine Verzögerung bei der Einreichung seiner jährlichen geprüften Finanzberichte für das am 31. Dezember 2024 endende Geschäftsjahr angekündigt. Das Unternehmen erwartet aufgrund der verpassten Frist zum 30. April 2025 eine Handelsaussetzung von der Ontario Securities Commission.
Die Verzögerung resultiert aus dem erheblichen Wachstum des Unternehmens, wobei die Bruttoerlöse zwischen September 2023 und September 2024 um über 30% gestiegen sind, hauptsächlich aufgrund von Akquisitionen in Alberta. Um diese Herausforderungen zu bewältigen, hat LevelJump:
- Neue Buchhaltungssoftware und Kontrollen implementiert
- Ernst & Young als externe Berater engagiert
- Verbesserungen nach der Offenlegungsprüfung der OSC vorgenommen
LevelJump plant, die erforderlichen Unterlagen innerhalb von 30 Tagen nach der Frist einzureichen und anschließend die Wiedereinsetzung in die TSX Venture Exchange zu beantragen.
- 30% increase in gross revenues between Sep 2023-2024 due to Alberta acquisitions
- Retained Ernst & Young LLP as external consultant to improve financial reporting
- Implementation of new accounting software and controls to streamline future acquisitions
- Failure to file annual audited financial statements by April 30, 2025 deadline
- Anticipated cease trade order from Ontario Securities Commission
- Integration challenges with multiple acquisitions affecting timely reporting
- Trading suspension on TSX Venture Exchange pending required filings
Toronto, Ontario--(Newsfile Corp. - April 30, 2025) - LevelJump Healthcare Corp. (TSXV: JUMP) ("LevelJump" or the "Company") wishes to advise shareholders that its annual audited financial statements for the fiscal year ending December 31, 2024, will not be completed by the filing deadline of April 30, 2025 (the "Filing Deadline"). As a result, the Company anticipates that a cease trade order will be issued shortly after the Filing Deadline by the Ontario Securities Commission ("OSC") for failure to file the annual financial statements, accompanying management discussion and analysis and officer certifications for the fiscal year ending December 31, 2024 (the "Required Filings").
Reasons for the Anticipated Delay
As the financial statements of LevelJump show, the Company has experienced unprecedented growth over the last 2 to 3 years, primarily due to acquisitions. Between September 30, 2023, and September 30, 2024, for example, gross revenues increased by over
To create a more streamlined process to support this type of growth into the future, a decision was made to implement important changes to the Company's accounting software and controls during fiscal 2024 which have taken time to implement. Additionally, during a continuous disclosure review by the Ontario Securities Commission (the "OSC") in connection with the issuance of a revocation order issued on April 23, 2024, several other accounting reporting improvements have been made.
The Company has drawn upon several different resources to increase the robustness and accuracy of its financial reporting. It has, for example, retained Ernst & Young LLP as an external consultant to review the financial reporting of the Company.
The Company is confident that its upgraded accounting reporting will enable it to integrate new acquisitions on a much more timely basis and help to control the costs in meeting the Company's continuous disclosure obligations.
Based on the foregoing and indications from its auditors, Ziefmans LLP, the Company is confident that it will be able to file the Required Filings within 30 days after the Filing Deadline.
Once the Required Filings have been made, the Company intends to proceed with an application to the TSX Venture Exchange to reinstate its listing. A further news release will be issued at that time.
About LevelJump Healthcare
LevelJump Healthcare Corp., (TSXV: JUMP) provides telehealth solutions to client hospitals and imaging centers through its Teleradiology division, as well as in person radiology services through its Diagnostic Centres. JUMP focuses primarily on critical care for urgent and emergency patients, establishing integral relationships in the communities we serve.
ON BEHALF OF THE BOARD OF DIRECTORS OF
LEVELJUMP HEALTHCARE CORP.
Mitchell Geisler
Chief Executive Officer
Email: info@leveljumphealthcare.com
Tel.: 647-670-1106
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, Canadian Teleradiology Services, Inc., their securities, or their respective financial or operating results (as applicable).
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250257
FAQ
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