Moss Genomics Inc. Provides Default Status Disclosure and Update on Continuous Disclosure Review
Rhea-AI Summary
Moss Genomics (OTCQB: MSSGF) reported that, following a British Columbia Securities Commission review, it was added on July 14, 2026 to the BCSC Issuers in Default list due to its March 31, 2026 interim MD&A not fully complying with Canadian continuous disclosure requirements.
The company has agreed to amend and restate its MD&A and interim financial statements, including reducing the recorded value of a 10 Ethereum share-subscription from $65,556 to about $41,303, correcting related-party balance descriptions, and adding required MD&A disclosure. Moss Genomics is working with its external auditor and expects to refile after BCSC review. It continues developing its genomics platform, now in a staging environment, and holds remaining digital assets to fund operations, aiming to cure the default and be removed from the list.
Positive
- MD&A and financial statements to be restated to address BCSC review comments
- Subscription valuation adjusted to approximately $41,303 based on fair value of 10 Ethereum
- External auditor engaged to finalize the amended and restated filings
- Genomics platform has an initial version functioning in a staging environment
Negative
- Added to BCSC Issuers in Default list on July 14, 2026 for MD&A non-compliance
- Share subscription value reduced from $65,556 to approximately $41,303 on restatement
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - August 25, 2026) - As a result of a review by the British Columbia Securities Commission (the "BCSC"), Moss Genomics Inc. (CSE: MOSS) (FSE: F73) (OTCQB: MSSGF) (the "Company") is issuing the following news release to clarify its disclosure.
The Company advises that, on July 14, 2026, it was added to the BCSC's Issuers in Default list under Canadian Securities Administrators Notice 51-322 - Reporting Issuer Defaults. The default arises from comments raised by BCSC staff in the course of a continuous disclosure review indicating that the Company's management's discussion and analysis (the "MD&A") for the interim period ended March 31, 2026 did not comply in full with the requirements of Form 51-102F1 under National Instrument 51-102 - Continuous Disclosure Obligations
Amendment and restatement of interim disclosure
The Company has agreed to amend and restate its MD&A and interim financial statements for the period ended March 31, 2026 to address the matters raised by BCSC staff. The material revisions the Company expects to make include:
- adjusting the recorded value of a subscription in which the Company received 10 Ethereum against a commitment to issue 327,778 common shares, from
$65,556 t o approximately$41,303 , to reflect the fair value of the Ethereum received; - correcting the description and composition of related-party balances, which had been described as owing to current and former officers and directors; and
- including the additional MD&A disclosure required by Form 51-102F1.
These adjustments are being finalized in consultation with the Company's external auditor as part of the restatement. The Company is working with its external auditor and accountants to complete the amended and restated filings and expects to file them under the Company's profile on SEDAR+ following the BCSC's review of the revised documents.
Business update
The Company advises that it is focused on the development of its genomics platform, an initial version of which is currently functioning in a staging environment. The Company holds its remaining digital assets to fund its operations.
The Company intends to take all reasonable steps to remedy its filing default and to be removed from the Issuers in Default list upon completion of the re-filing.
About Moss Genomics Inc.
Moss Genomics is focused on developing a genomics platform that provides secure, user-controlled storage of genomic data and a permissioned interface through which users can grant approved applications access to their information. An initial version of the platform is currently in development in a staging environment. The Company holds digital assets which it uses to fund its operations.
CONTACT INFORMATION
Moss Genomics Inc.
Jack Liu, Chief Executive Officer and Director
Email: invest@mossgenomics.com
Telephone: 604-710-0124
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news 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 "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 the Company's development plans, its genomics platform, and the anticipated amendment and re-filing of its continuous disclosure.
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 risk that the Company will be unable to successfully re-file its MD&A and interim financial statements for the period ended March 31, 2026 in a form which adequately addresses the matters raised by BCSC staff and the risk that the Company will be unsuccessful in removing itself from the Issuers in Default list.
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 or forward-looking information that are contained in this news release, except as required by applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311399