Please allow me to clarify the situation with regard to the filings and the CTO.
First of all the company is small and runs on a low overhead. There is only one CFO and person in accounting. There is no other way to replace a person in this position in such a short time frame.
Our companies CFO has a close family member who was killed in a mining accident in Vale's Stobe mine in Sudbury 3 weeks ago. This tragic family emergency coupled with the conversion to the new IFRS statements has put the company behind. The company appealed to the OSC to allow a one week extension and we were declined, as they will no longer grant extensions. This seems a bit arbitrary and the company Lawyer is appealing the ruling. That said, we should be caught up and filed this week.
The CEO expects the Q1 filings to be deposited tomorrow morning and then it will be up to the OSC when they resume trading.
Given the circumstance a little patience would be prudent rather than over-reacting.
Carry
