Sprout AI Updates On Cease Trade Order On Canadian Stock Exchange

Sprout AI

Sprout AI Inc. (CSE: BYFM) reports that it has resubmitted its interim management’s discussion and analysis for the quarter ending July 31, 2022. (“MD&A”). Additionally, in accordance with section 4.3(3) of NI 51-102, the business is reporting the Q1 April 2022 and Q2 July 2022 FS again to include the notification of no auditor’s review. Due to failed reporting deadlines, the Company shares have been subject to a Cease Trade Order since April 5, 2022. Sprout is still coordinating with the Ontario Securities Commission and the BC Commission in order to lift the CTO and start trading on the CSE.

The British Columbia Securities Commission asked that Sprout AI Inc. (CSE: BYFM) (OTCQB: BYFMF) resubmit its July 31, 2022, Q2 interim management’s discussion and analysis, April 30, 2022, Q1 interim financial statements, and July 31, 2022, Q2 interim financial statements. As a consequence of the Commission’s requirement to evaluate the Company’s disclosures for the procedure to lift the existing Cease Trade Order on the Company shares, the filings have been resubmitted at its request. On SEDAR, these filings may be found on the company page for Sprout AI.

The company is refiling the July 31, 2022, interim MD&A to remove all forward-looking information relating to its revenue projections. The company is also re-filing the Q1 April 2022 and Q2 July 2022 FS to insert notice of no auditor’s review as required by section 4.3(3) of NI 51-102. The Company shares have been under a CTO since April 5, 2022, due to missed filing requirements. Sprout continues to work with the BC Commission in unison with the Ontario Securities Commission to lift the CTO and commence trading of the shares on the CSE in due course.

Image provided by Sprout AI

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