Unfortunately, the request was denied.
On Friday, Hire Technologies Inc. (TSXV.HIRE.V) informed the public of an unfortunate turn of events. A Toronto staffing provider is facing a “failure-to-file cease trade order” as they are unable to file audited financial statements by the May 1 deadline. The delay is a result of several unfortunate circumstances, including the resignation of their CFO and complexities from a recent divestiture.
Management had applied for a temporary management cease trade order, an action which would have allowed the public to continue trading but prohibited the CEO from selling stock until reporting requirements were up to date. Unfortunately, the request was denied by the Ontario Securities Commission.
Hire Technologies is continuing to work with their audit to remedy the filing default but there is no guarantee it will be able to do so in a timely manner, or at all. The company advises the public to stay up-to-date with all developments.