22:50:20 EDT Fri 07 Jun 2024
Enter Symbol
or Name
USA
CA



Integrated Cyber Solutions Inc
Symbol ICS
Shares Issued 61,495,676
Close 2023-10-25 C$ 0.30
Market Cap C$ 18,448,703
Recent Sedar Documents

Integrated to miss deadline for fiscal 2023 results

2023-10-25 20:06 ET - News Release

Mr. Alan Guibord reports

INTEGRATED CYBER SOLUTIONS INC. ANNOUNCES LATE FILING OF ANNUAL FINANCIAL STATEMENTS AND MD&A

As a result of delays to Integrated Cyber Solutions Inc.'s audit, the company's annual audited financial statements and accompanying management's discussion and analysis for the fiscal year ended June 30, 2023, are not expected to be finalized by Oct. 30, 2023, being the date that such filings are due under applicable Canadian securities law requirements. The company has applied for a management cease trade order (the MCTO) with the British Columbia Securities Commission, the company's principal securities regulator. Reasons for the anticipated delay are due to the change in the auditors of the Company's wholly-owned subsidiary, Integrated Cyber Solutions LLC, following the Company's reverse takeover transaction that closed on May 12, 2023, as more particularly described in the Company's long form prospectus dated July 7, 2023, available on the Company's SEDAR+ profile page. Additionally, due to delays in closing the Company's initial public offering, which closed on October 6, 2023, funding to pay for the audit was delayed until the week of October 10, 2023. The Company is working diligently with Davidson & Company LLP to complete the audit in a timely manner.

The Company currently expects to file the Annual Filings on or before November 15, 2023 and will issue a news release announcing completion of such filings at such time. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Annual Filings have not been filed.

During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's Chief Executive Officer and Chief Financial Officer will not be able to trade in the Company's common shares.

ABOUT Integrated Cyber

Integrated Cyber is a managed security service provider (MSSP) that humanizes cybersecurity managed services to the Small-to-Medium Business (SMB) and Small-to-Medium Enterprise (SME) sectors. The Company integrates capabilities from third-party cybersecurity providers, allowing companies to continuously adapt their services to evolving technologies and providers - ensuring customers have access to the latest cybersecurity solutions. Apart from providing essential cybersecurity services, Integrated Cyber's managed services and IC360 technology platform consolidate vast amounts of information to generate actionable intelligence from the numerous software point solutions within their customer's environments. The results enable simple, understandable, and actionable insights to help customers comprehend and better secure their organization. Integrated Cyber greatly emphasizes the human aspect of cybersecurity management, simplifying complex concepts, and highlighting the crucial role that employee behavior plays in a company's cyber defenses.

We seek Safe Harbor.

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