Stardust Solar Updates Status of Filing Annual Financial Statements
Stardust Solar Energy Inc. (TSXV: SUN) has received a management cease trade order (MCTO) from the British Columbia Securities Commission on May 1, 2025. The MCTO restricts the company's CEO and CFO from trading company securities until they file the required audited annual financial statements for 2024, along with management's discussion, analysis, and related certifications.
The trading restriction does not affect other shareholders' ability to trade. The company's management team is actively working to complete and file the required documents and will continue providing bi-weekly status updates in accordance with National Policy 12-203.
Stardust Solar Energy Inc. (TSXV: SUN) ha ricevuto un ordine di sospensione temporanea dalle negoziazioni (MCTO) dalla British Columbia Securities Commission il 1° maggio 2025. Il MCTO impedisce al CEO e al CFO della società di negoziare titoli dell'azienda fino alla presentazione dei bilanci annuali certificati per il 2024, insieme alla discussione e analisi della direzione e alle relative certificazioni.
La restrizione sulle negoziazioni non influisce sulla capacità degli altri azionisti di operare sul mercato. Il team di gestione dell'azienda sta lavorando attivamente per completare e presentare i documenti richiesti e continuerà a fornire aggiornamenti sullo stato ogni due settimane, in conformità con la National Policy 12-203.
Stardust Solar Energy Inc. (TSXV: SUN) ha recibido una orden de suspensión temporal de negociación (MCTO) por parte de la Comisión de Valores de Columbia Británica el 1 de mayo de 2025. La MCTO restringe al CEO y CFO de la empresa de negociar valores de la compañía hasta que presenten los estados financieros anuales auditados correspondientes a 2024, junto con el análisis y discusión de la gerencia y las certificaciones relacionadas.
La restricción de negociación no afecta la capacidad de otros accionistas para negociar. El equipo directivo de la empresa está trabajando activamente para completar y presentar los documentos requeridos y continuará proporcionando actualizaciones quincenales conforme a la Política Nacional 12-203.
Stardust Solar Energy Inc. (TSXV: SUN)는 2025년 5월 1일 브리티시컬럼비아 증권위원회로부터 경영자 거래중지명령(MCTO)을 받았습니다. 이 명령은 2024년 감사 완료 연간 재무제표와 경영진 토론 및 분석, 관련 인증서 제출 전까지 회사의 CEO와 CFO가 회사 증권을 거래하는 것을 제한합니다.
거래 제한은 다른 주주들의 거래 능력에는 영향을 미치지 않습니다. 회사 경영진은 필요한 서류를 완성하여 제출하기 위해 적극적으로 노력 중이며, 국가 정책 12-203에 따라 2주마다 진행 상황을 계속해서 업데이트할 예정입니다.
Stardust Solar Energy Inc. (TSXV : SUN) a reçu une ordonnance de cessation temporaire de négociation (MCTO) de la Commission des valeurs mobilières de la Colombie-Britannique le 1er mai 2025. Cette ordonnance interdit au PDG et au directeur financier de la société de négocier les titres de l'entreprise jusqu'à ce qu'ils déposent les états financiers annuels audités requis pour 2024, ainsi que la discussion et l'analyse de la direction et les certifications associées.
La restriction de négociation n'affecte pas la capacité des autres actionnaires à négocier. L'équipe de direction de la société travaille activement à la finalisation et au dépôt des documents requis et continuera à fournir des mises à jour bimensuelles conformément à la Politique nationale 12-203.
Stardust Solar Energy Inc. (TSXV: SUN) hat am 1. Mai 2025 von der British Columbia Securities Commission eine Management-Handelsaussetzung (MCTO) erhalten. Die MCTO untersagt dem CEO und CFO des Unternehmens den Handel mit Unternehmenswertpapieren, bis die erforderlichen geprüften Jahresabschlüsse für 2024 zusammen mit der Managementdiskussion, Analyse und den zugehörigen Zertifizierungen eingereicht wurden.
Die Handelsbeschränkung betrifft nicht die Handelsfähigkeit anderer Aktionäre. Das Managementteam des Unternehmens arbeitet aktiv daran, die erforderlichen Unterlagen fertigzustellen und einzureichen und wird weiterhin alle zwei Wochen Statusberichte gemäß der National Policy 12-203 bereitstellen.
- None.
- Company failed to file its 2024 annual financial statements on time
- CEO and CFO are prohibited from trading company securities under MCTO
- Potential regulatory compliance issues indicated by delayed financial reporting
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2025) - Stardust Solar Energy Inc. (TSXV: SUN) ("Stardust Solar" or the "Company"), a leading provider of residential solar energy solutions, announces, further to its news release of May 1, 2025, that the Company's principal regulator, the British Columbia Securities Commission (the "Commission"), granted a management cease trade order (the "MCTO") on May 1, 2025, under National Policy 12-203 Management Cease Trade Orders ("NP 12-203").
The MCTO prohibits the Company's Chief Executive Officer and the Chief Financial Officer from trading in the Company's securities until the Company files its audited annual financial statements for the year ended December 31, 2024, management's discussion and analysis together with the related certifications (collectively the "Required Documents") and the Commission revokes the MCTO. The MCTO does not affect the ability of other shareholders to trade their securities.
The Company's Board of Directors and management continue to work diligently to complete and file the Required Documents. The Company also confirms that since its press release dated May 1, 2025, there is no material information concerning its affairs that has not been generally disclosed.
Until the Required Documents are filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as it remains in default of its financial statement filing requirements.
About Stardust Solar
Stardust is a North American franchisor of renewable energy installation services, including solar panels (PV), energy storage systems, and electric vehicle supply equipment. Stardust lends its brand and business management services to entrepreneurs looking to enter the renewable energy industry. Stardust franchisees install and maintain clean energy systems for residential and commercial purposes. As a franchisor, Stardust supplies its franchisees with the following products: solar PV equipment, energy storage equipment, and electric vehicle supply equipment. In addition, Stardust supports its franchisees with many services from corporate headquarters, including marketing, sales, engineering, plan sets, customer service, and project management.
Media and Investor Contacts:
Mark Tadros
Chief Executive Officer, Chairman and Director
For further information or media requests, please contact:
Glen Nelson,
Investor Relations and Communications:
glen@stardustsolar.com
t: (403) 763-9797
Email: investors@stardustsolar.com
Website: www.stardustsolar.com
Neither 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.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward-looking statements made in this news release include the anticipated filing date of the Annual Financial Filings. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct the business activities of the Company. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252229
FAQ
Why did Stardust Solar (SUNXF) receive a management cease trade order in May 2025?
Who is affected by Stardust Solar's MCTO issued on May 1, 2025?
What must Stardust Solar do to lift the management cease trade order?
How often will Stardust Solar provide updates about its MCTO status?
