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Xtm Inc (XTMIF) delivers innovative translation management and localization solutions for global enterprises through its cloud-based platform. This news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and technological advancements.
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XTM Inc. (XTMIF) announces a delay in filing its annual audited financial statements and related documents for the year ended December 31, 2023. The Ontario Securities Commission (OSC) has granted a Management Cease Trade Order (MCTO) under National Policy 12-203, impacting the trading activities of XTM's CEO and CFO until the required documents are filed. Other shareholders are not affected. The delay is attributed to audit procedures and a quality review for third-party service organizations. XTM is collaborating with auditors and aims to file the documents promptly. The company will issue bi-weekly status reports until compliance is achieved, detailing any material changes and actions taken to resolve the default.
XTM provides an update on its management cease trade order (MCTO), issued by the Ontario Securities Commission (OSC) under National Policy 12-203.
The MCTO restricts CEO Marilyn Schaffer and CFO Swapan Kakuman from trading in XTM securities until the company files its annual audited financial statements, management's discussion, and related certifications for the year ended December 31, 2023.
Other shareholders are not impacted. The delay in filing is attributed to ongoing audit procedures and a quality review relying on third-party service organizations.
XTM is working with auditors to file the documents as soon as possible and plans to issue bi-weekly status reports until compliance is achieved.
XTM Inc. (XTMIF) provides an update on its management cease trade order (MCTO) issued by the Ontario Securities Commission (OSC) under National Policy 12-203. The MCTO restricts the CEO and CFO from trading XTM securities until the company files its audited financial statements, management's discussion, analysis, and related certifications for the year ending December 31, 2023. Other shareholders remain unaffected. XTM attributes the delay to audit procedures and quality reviews related to third-party service organizations. The company commits to issuing bi-weekly status reports until the required documents are filed.
XTM Inc. announced the receipt of a Management Cease Trade Order (MCTO) from the Ontario Securities Commission due to a delay in filing its annual financial statements. The MCTO restricts trading by management until the required filings are complete. The company expects to complete the audit by May 31, 2024, and will issue bi-weekly default status reports until then.
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