Tenet Sets Revised Timeline for Filing of Year-End 2024 Financial Results

Rhea-AI Summary

Tenet Fintech Group (OTCQB: PKKFF), operator of the Cubeler business development platform, has announced a further delay in filing its 2024 year-end financial statements. The delay is attributed to the need to align the company's annual financial audit with the mandatory tax audit of its Chinese subsidiaries.

The company has set a revised timeline for August 2025 to file the financial statements, with the exact filing date to be announced by the end of July 2025. The delay stems from the inability to synchronize the Chinese tax audit with the Canadian operations audit, which typically occur simultaneously due to their reliance on similar financial information.

Positive

• None.

Negative

• Further delay in filing 2024 year-end financial statements
• Misalignment between Chinese tax audit and Canadian operations audit causing operational inefficiencies

News Market Reaction

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+21.08% News Effect

On the day this news was published, PKKFF gained 21.08%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Toronto, Ontario--(Newsfile Corp. - July 23, 2025) - Tenet Fintech Group Inc. (CSE: PKK) (OTCQB: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider, owner and operator of the Cubeler® business development platform, today announced that the completion of the audit of the Company's year-end 2024 financial statements (the "Financial Statements") would be further delayed to align with the annual tax audit of the Company's Chinese subsidiaries. The subsidiaries' tax audit is an annual requirement for Tenet's Chinese operating entities. It is typically conducted alongside the audit of the Company's year-end financial statements, as both audits rely on similar financial information. This year, however, Tenet was unable to synchronize the two audits because of the delay in the start of the audit of its Canadian operations, resulting in additional delays to file the Financial Statements. Tenet has revised the timeline for filing the Financial Statements to August 2025, with a precise filing date to be communicated by the end of this month.

About Tenet Fintech Group Inc.:

Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet in this news release, unless explicitly specified, include Tenet and all its subsidiaries. Tenet's subsidiaries offer various analytics and AI-based products and services to businesses, capital markets professionals, government agencies and financial institutions either through or leveraging data gathered by Cubeler®, a business development platform where analytics and AI are used to create opportunities and facilitate B2B transactions among its members. Please visit our website at: https://www.tenetfintech.com/.

For more information, please contact:

Tenet Fintech Group Inc.

Mayco Quiroz, Chief Operating Officer
514-340-7775 ext.: 510
investors@tenetfintech.com

CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 251
cathy@chfir.com

Follow Tenet Fintech Group Inc. on social media:
X: @Tenet_Fintech
Facebook: @Tenet
LinkedIn: Tenet
YouTube: Tenet Fintech

Forward-looking information

Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of Tenet to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, holding company with significant operations in China; general economic and business conditions, including factors impacting the Company's business in China such as pandemics and COVID-19; legislative and/or regulatory developments; Global Financial conditions, repatriation of profits or transfer of funds from China to Canada, operations in foreign jurisdictions and possible exposure to corruption, bribery or civil unrest; actions by regulators; uncertainties of investigations, proceedings or other types of claims and litigation; timing and completion of capital programs; liquidity and capital resources, negative operating cash flow and additional funding, dilution from further financing; financial performance and timing of capital; and other risks detailed from time to time in reports filed by Tenet with securities regulators in Canada. Reference should also be made to Management's Discussion and Analysis (MD&A) in Tenet's annual and interim reports, Annual Information Form, filed with Canadian securities regulators and available via the System for Electronic Document Analysis and Retrieval (SEDAR+) under Tenet's profile at www.sedarplus.ca, for a description of major risk factors relating to Tenet. Although Tenet has attempted to identify certain factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements reflect information as of the date on which they are made. The Company assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event the Company does update any forward-looking statement, no inference should be made that the Company will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities 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/259872

FAQ

When will Tenet Fintech (PKKFF) file its 2024 year-end financial statements?

Tenet plans to file its 2024 financial statements in August 2025, with the exact filing date to be announced by the end of July 2025.

Why is Tenet Fintech (PKKFF) delaying its 2024 financial statements filing?

The delay is due to the need to align the company's annual financial audit with the mandatory tax audit of its Chinese subsidiaries, complicated by a delay in starting the Canadian operations audit.

What is causing the audit synchronization issues for Tenet Fintech?

The company was unable to synchronize its Chinese subsidiaries' tax audit with the Canadian operations audit, which typically occur simultaneously as they rely on similar financial information.

How does the audit process work for Tenet's Chinese subsidiaries?

Tenet's Chinese operating entities undergo a mandatory annual tax audit that is typically conducted alongside the company's year-end financial statements audit, as both processes use similar financial information.