| Home : December 27 2016 Computer News : Versatile Systems Provides Default Status Report |
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Versatile Systems Provides Default Status Report |
December 27, 2016
SEATTLE, WASHINGTON--(Marketwired - Dec. 26, 2016) - Versatile Systems Inc. (TSX VENTURE:VV) ( the "Company") is providing this bi-weekly default status report in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203") for the Management Cease Trade Order ("MCTO") issued by the British Columbia Securities Commission on October 31, 2016. On November 1st, 2016, the Company announced by way of press release that the filings of the Company's annual financial statements for the fiscal year ended June 30, 2016 and the related management's discussion and analysis (collectively, the "2016 Annual Financial Statements") were not completed by the legal deadline of October 28, 2016. The Company made an application to the provincial securities commissions under NP 12-203 and on October 31, 2016, received the MCTO in respect of the late filing. The MCTO does not affect the ability of other shareholders of the Company to trade their securities, however, Bertrande des Pallieres, the Executive Chairman, Chief Executive Officer and acting Chief Financial Officer of the Company and Andrew Lynch, the President of the Company, will not be able to trade the Company's shares.
Link: http://www.marketwired.com/mw/release.do?id=2185433&sourceType=3
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