Stardust Solar Updates Status of Filing Annual Financial Statements
Stardust Solar Energy Inc. (TSXV: SUN) has 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 documents. The MCTO was issued due to the company's delay in filing its audited annual financial statements for the year ended December 31, 2024, along with management's discussion, analysis, and related certifications.
The company's management continues to work on completing these required documents and confirms no undisclosed material information exists since its May 15 update. Regular bi-weekly status updates will be provided until the situation is resolved. Importantly, the MCTO does not affect other shareholders' ability to trade their securities.
Stardust Solar Energy Inc. (TSXV: SUN) ha fornito un aggiornamento riguardo alla situazione del suo Management Cease Trade Order (MCTO). La British Columbia Securities Commission ha concesso il MCTO il 1° maggio 2025, vietando al CEO e al CFO dell'azienda di negoziare titoli della società fino alla presentazione dei documenti finanziari annuali richiesti per il 2024. Il MCTO è stato emesso a causa del ritardo della società nella presentazione dei bilanci annuali certificati per l'anno chiuso al 31 dicembre 2024, insieme alla discussione e analisi della gestione e alle relative certificazioni.
La direzione dell'azienda continua a lavorare per completare questi documenti richiesti e conferma che non esistono informazioni materiali non divulgate dalla sua comunicazione del 15 maggio. Verranno forniti aggiornamenti regolari ogni due settimane fino alla risoluzione della situazione. È importante sottolineare che il MCTO non influisce sulla capacità degli altri azionisti di negoziare i propri titoli.
Stardust Solar Energy Inc. (TSXV: SUN) ha proporcionado una actualización sobre su situación de Management Cease Trade Order (MCTO). La Comisión de Valores de Columbia Británica concedió el MCTO el 1 de mayo de 2025, prohibiendo al CEO y CFO de la empresa negociar valores de la compañía hasta la presentación de los documentos financieros anuales requeridos de 2024. El MCTO fue emitido debido al retraso de la empresa en presentar los estados financieros anuales auditados para el año terminado el 31 de diciembre de 2024, junto con el análisis y discusión de la gerencia y las certificaciones relacionadas.
La gerencia continúa trabajando para completar estos documentos requeridos y confirma que no existe información material no divulgada desde su actualización del 15 de mayo. Se proporcionarán actualizaciones regulares cada dos semanas hasta que la situación se resuelva. Es importante destacar que el MCTO no afecta la capacidad de otros accionistas para negociar sus valores.
Stardust Solar Energy Inc. (TSXV: SUN)는 경영진 거래중지명령(MCTO) 상황에 대한 업데이트를 제공했습니다. 브리티시컬럼비아 증권위원회는 2025년 5월 1일 MCTO를 승인했으며, 이 명령은 회사의 CEO와 CFO가 2024년 연간 재무제표 제출 전까지 회사 증권 거래를 금지합니다. MCTO는 2024년 12월 31일 종료된 연도에 대한 감사받은 연간 재무제표와 경영진의 토론, 분석 및 관련 인증서 제출 지연으로 인해 발행되었습니다.
회사는 해당 서류를 완성하기 위해 계속 노력 중이며 5월 15일 이후 미공개 중요 정보가 없음을 확인했습니다. 상황이 해결될 때까지 매 2주마다 정기 상태 업데이트를 제공할 예정입니다. 중요한 점은 MCTO가 다른 주주들의 증권 거래 능력에는 영향을 미치지 않는다는 것입니다.
Stardust Solar Energy Inc. (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 des titres de l’entreprise jusqu’au dépôt des documents financiers annuels requis pour 2024. Le MCTO a été émis en raison du retard de la société dans le dépôt des états financiers annuels audités pour l’exercice clos le 31 décembre 2024, ainsi que de la discussion de gestion, de l’analyse et des certifications associées.
La direction continue de travailler à la finalisation de ces documents requis et confirme qu’aucune information matérielle non divulguée n’existe depuis sa mise à jour du 15 mai. Des mises à jour régulières seront fournies toutes les deux semaines jusqu’à la résolution de la situation. Il est important de noter que le MCTO n’affecte pas la capacité des autres actionnaires à négocier leurs titres.
Stardust Solar Energy Inc. (TSXV: SUN) hat ein Update zu seiner Management Cease Trade Order (MCTO)-Situation veröffentlicht. Die British Columbia Securities Commission erteilte die MCTO am 1. Mai 2025, die es dem CEO und CFO des Unternehmens untersagt, Unternehmenswerte zu handeln, bis die erforderlichen Jahresfinanzberichte für 2024 eingereicht sind. Die MCTO wurde aufgrund der Verzögerung bei der Einreichung der geprüften Jahresabschlüsse für das zum 31. Dezember 2024 endende Geschäftsjahr sowie der Management-Diskussion, Analyse und zugehörigen Zertifizierungen erlassen.
Das Management arbeitet weiterhin an der Fertigstellung dieser erforderlichen Unterlagen und bestätigt, dass seit dem Update vom 15. Mai keine nicht offengelegten wesentlichen Informationen vorliegen. Es werden regelmäßig alle zwei Wochen Status-Updates bereitgestellt, bis die Situation geklärt ist. Wichtig ist, dass die MCTO die Handelsfähigkeit anderer Aktionäre nicht beeinträchtigt.
- None.
- Delayed filing of 2024 annual financial statements and related documents
- Management Cease Trade Order (MCTO) restricting CEO and CFO from trading company securities
- Ongoing regulatory compliance issues with securities commission
Vancouver, British Columbia--(Newsfile Corp. - May 29, 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 and 15, 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 15, 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/253850
FAQ
What is the current status of Stardust Solar's (SUNXF) financial statements filing?
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