Regenx Tech Faces Audit Delays and Seeks Management Cease Order

Regenx Tech Corporation Faces Filing Delays

Regenx Tech Corp, known for pioneering technology in the recycling of end-of-life diesel catalytic converters, is currently navigating through challenges with its annual financial filings. The company, which operates under the ticker symbols CSE: RGX, OTCQB: RGXT, and Frankfurt: YRS, announced that due to delays in completing its audit, it will not meet the filing deadline for its Annual Filings.

Details of the Filing Delays

The Annual Filings, which are crucial for providing stakeholders with insights into the company's financial performance, include the Annual Audited Financial Statements and the Management Discussion & Analysis for the year ending March 31, 2025. The audit delays stem primarily from payment issues with the external auditor, which halted the timely completion of necessary financial statements.

Plan to Address Financial Obligations

Regenx is actively seeking to resolve this issue by securing a non-convertible short-term unsecured loan, aimed at covering outstanding payments to the auditor. The company aims to ensure that the annual financial statements get back on track and meet the new deadline set for September 29, 2025.

Application for Management Cease Trade Order

As a precautionary measure, Regenx has also applied for a Management Cease Trade Order (MCTO) through the Alberta Securities Commission. This order will prevent the management from trading in the company’s securities during the period of non-compliance with the filing requirements. The decision regarding this application is pending, with the possibility that the Alberta Securities Commission may grant the MCTO or could escalate the situation by imposing an issuer cease trade order.

Continued Compliance Efforts

In the interim, the company is committed to transparency and will issue bi-weekly reports detailing its compliance status until the Annual Filings are submitted. Regeneration Tech has pledged to utilize all available resources towards ensuring the timely completion of the required documents and has initiated a structured plan for stakeholder communication throughout this process.

Impact of Filing Delays on Company Operations

Despite these challenges, Regenx declares through its management that there have been no significant business developments since its last interim reports were issued, emphasizing its focus on completing the necessary paperwork. They reaffirm that there are currently no insolvency proceedings against the company.

About Regenx Tech

Regenx Tech Corporation is recognized for its commitment to sustainable practices in the cleantech sector. The company’s innovative processes focus on urban mining techniques to recycle and recover precious metals such as platinum and palladium from used catalytic converters, highlighting its environmental stewardship. For more information about the company's operations and outlook, visit www.regenx.tech.

Contact Information

For further inquiries, please reach out to:
Don Weatherbee, CEO
1 866 498 4213
Email: Investors@Regenx.Tech

Frequently Asked Questions

What is the reason for the delays in Regenx's annual filings?

The delays are due to payment issues with the external auditor, hindering the completion of the audit of the Annual Financial Statements.

What is a Management Cease Trade Order?

An MCTO is a regulatory order that restricts a company’s management from trading its securities until certain compliance issues are resolved.

How does Regenx plan to handle the audit delays?

Regenx plans to secure a short-term loan to cover outstanding auditor payments and complete the annual filings by the end of September.

What financial documents are included in the Annual Filings?

The Annual Filings consist of the Audited Financial Statements and Management Discussion & Analysis for the financial year.

Are there any notable business developments in Regenx?

Aside from the filing delays, there have been no significant business developments reported since March.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

Contact Evelyn Baker privately here. Or send an email with ATTN: Evelyn Baker as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.