Calgary-based VIP Entertainment Technologies Inc. (TSXV: VIP OTC:VETIF) has provided an update on the status of its annual financial statements for the fiscal year ended March 31, 2024. The company had previously announced that it would not be able to finalize the filings by the July 29, 2024 deadline due to the resignation of its auditors and subsequent appointment of new auditors, as well as a change in its chief financial officer.
However, VIP is pleased to report that the Alberta Securities Commission (ASC) has granted the company a temporary management cease trade order (MCTO) under National Policy 12-203 Management Cease Trade Orders. This order prohibits the company’s CEO and CFO from trading in the company’s securities until the annual filings and all continuous disclosure requirements have been filed and the MCTO has been lifted. The general public, excluding insiders, will still be able to trade in the company’s listed securities during this period.
VIP’s new auditors are diligently working to complete the audit of the financial statements, and the company remains committed to completing the annual filings as soon as possible. It is anticipated that the filings will be completed on or about September 28, 2024.
In compliance with the alternative information guidelines set out in NP 12-203, VIP will issue bi-weekly default status reports in the form of news releases until the default is remedied. The company confirms that, other than what has been disclosed, it is up to date in its filing obligations and is not currently subject to any insolvency proceedings.
VIP Entertainment Technologies Inc. is a leading provider of innovative entertainment solutions, dedicated to delivering unparalleled experiences to customers worldwide. With a focus on leveraging emerging technologies and trends, VIP is committed to shaping the future of the entertainment industry.