TUT Fitness applies for MCTO
posted on
Feb 01, 2023 11:38PM
Retail Distribution Agreement With Best Buy Stores in Canada
TUT FITNESS GROUP APPLIES FOR MANAGEMENT CEASE TRADE ORDER
TUT Fitness Group Inc. has requested a temporary management cease trade order (MCTO) from the British Columbia Securities Commission (BCSC) in connection with the company's filing of its audited annual financial statements and management's discussion and analysis (MD&A) for the financial year ended Sept. 30, 2022.
The company is requesting the MCTO in order to secure additional time to finalize its audited financial statements, the related MD&A, and the applicable chief executive officer and chief financial officer certifications. The delay in filing the annual filings is a result of unexpected delays experienced by the company and its auditor. The company is working with its auditor and accounting team to draft financial statements and respond to all queries. It is the company's reasonable expectation that the annual filings will be finalized on or before Feb. 28, 2023.
By way of background and as required by the BCSC, the company notes the following: