Stardust Solar Updates Status of Filing Annual Financial Statements
Stardust Solar Energy (TSXV: SUN) provided an update regarding its Management Cease Trade Order (MCTO) situation. The British Columbia Securities Commission granted the MCTO on May 1, 2025, which prohibits the company's CEO and CFO from trading company securities until the filing of required 2024 annual financial statements and related documents.
The company's management continues working to complete the required documentation and confirms no undisclosed material information since its last update on June 12, 2025. Stardust Solar will continue issuing bi-weekly status updates in accordance with NP 12-203 guidelines until the situation is resolved.
Stardust Solar Energy (TSXV: SUN) ha fornito un aggiornamento riguardo alla situazione del suo Management Cease Trade Order (MCTO). La British Columbia Securities Commission ha emesso il MCTO il 1 maggio 2025, che vieta al CEO e al CFO della società di negoziare titoli aziendali fino alla presentazione dei richiesti bilanci annuali 2024 e dei documenti correlati.
La direzione continua a lavorare per completare la documentazione necessaria e conferma l'assenza di informazioni materiali non divulgate dalla sua ultima comunicazione del 12 giugno 2025. Stardust Solar continuerà a fornire aggiornamenti sullo stato della situazione ogni due settimane, in conformità alle linee guida NP 12-203, fino alla sua risoluzione.
Stardust Solar Energy (TSXV: SUN) proporcionó una actualización sobre la situación de su Management Cease Trade Order (MCTO). La Comisión de Valores de Columbia Británica otorgó el MCTO el 1 de mayo de 2025, que prohíbe al CEO y al CFO de la empresa negociar valores de la compañía hasta la presentación de los requeridos estados financieros anuales de 2024 y documentos relacionados.
La gerencia continúa trabajando para completar la documentación necesaria y confirma que no hay información material no divulgada desde su última actualización del 12 de junio de 2025. Stardust Solar seguirá emitiendo actualizaciones quincenales de estado conforme a las directrices NP 12-203 hasta que la situación se resuelva.
Stardust Solar Energy (TSXV: SUN)는 경영진 거래중지명령(MCTO) 상황에 대한 업데이트를 제공했습니다. 브리티시컬럼비아 증권위원회는 2025년 5월 1일에 MCTO를 부여했으며, 이는 회사의 CEO와 CFO가 2024년 연간 재무제표 및 관련 서류가 제출될 때까지 회사 증권을 거래하는 것을 금지합니다.
회사는 필요한 문서 작성을 계속 진행 중이며, 2025년 6월 12일 이후 미공개 중요 정보가 없음을 확인했습니다. Stardust Solar는 상황이 해결될 때까지 NP 12-203 지침에 따라 2주마다 상태 업데이트를 계속 제공할 예정입니다.
Stardust Solar Energy (TSXV : SUN) a fourni une mise à jour concernant sa situation de Management Cease Trade Order (MCTO). La British Columbia Securities Commission a accordé le MCTO le 1er mai 2025, interdisant au PDG et au directeur financier de la société de négocier les titres de l'entreprise jusqu'au dépôt des états financiers annuels 2024 et des documents connexes requis.
La direction continue de travailler à la finalisation des documents nécessaires et confirme qu'aucune information matérielle non divulguée n'a été identifiée depuis sa dernière mise à jour du 12 juin 2025. Stardust Solar continuera de publier des mises à jour bihebdomadaires conformément aux directives NP 12-203 jusqu'à la résolution de la situation.
Stardust Solar Energy (TSXV: SUN) gab ein Update zu seiner Management Cease Trade Order (MCTO)-Situation bekannt. Die British Columbia Securities Commission erteilte die MCTO am 1. Mai 2025, die dem CEO und CFO des Unternehmens untersagt, Unternehmenswerte zu handeln, bis die erforderlichen Jahresfinanzberichte 2024 und zugehörigen Dokumente eingereicht sind.
Das Management arbeitet weiterhin an der Fertigstellung der erforderlichen Unterlagen und bestätigt, dass seit dem letzten Update am 12. Juni 2025 keine nicht offengelegten wesentlichen Informationen vorliegen. Stardust Solar wird gemäß den Richtlinien NP 12-203 weiterhin alle zwei Wochen Statusupdates veröffentlichen, bis die Situation gelöst ist.
- None.
- Company failed to file 2024 annual financial statements on time
- CEO and CFO are prohibited from trading company securities under MCTO
- Ongoing regulatory compliance issues with financial reporting requirements
Vancouver, British Columbia--(Newsfile Corp. - June 26, 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 releases of May 1, May 15, May 29 and June 12, 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 June 12, 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:
Steve Rickaby
Director of Communications and Investor Relations
Stardust Solar Energy Inc.
Cell: 1-672-472-1345
Steve@StardustSolar.com
www.stardustsolar.com
https://www.linkedin.com/company/stardustsolar/
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/256879
FAQ
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