TORONTO, ONTARIO – CardioComm Solutions, Inc. (TSX VENTURE: EKG) (“CardioComm” or the “Company”), a global medical provider of consumer heart monitoring and medical electrocardiogram (“ECG”) software solutions, announced today that it will not file its annual financial statements for the financial year ended December 31, 2022 (the “Financial Statements”) and its management’s discussion and analysis relating to the Financial Statements (collectively, the “Required Filings”) before the prescribed deadline of May 1, 2023 (the “Filing Deadline”).
The reason for the default is that the Company requires additional time for completion of the external independent audit of their financial records. The delay is a consequence of the Company’s migration to a new financial accounting system in late 2022. As of the end of April, the Company confirms the audit was underway and the Required Filings are anticipated to be filed by May 30, 2023 or sooner. The Company will provide updates as warranted.
The Company applied to the Ontario Securities Commission (the “OSC”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) for the issuance of a management cease trade order (“MCTO”). Following their review, the OSC advised that they would not issue an MCTO and that they would instead issue a failure-to-file cease trade order.
To learn more about CardioComm’s products and for further updates regarding HeartCheck™ ECG device integrations, please visit the Company’s websites at www.cardiocommsolutions.com and www.theheartcheck.com.
