19:47:18 EDT Wed 24 Jul 2024
Enter Symbol
or Name

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Vext Science Inc
Symbol VEXT
Shares Issued 178,175,866
Close 2024-06-24 C$ 0.205
Market Cap C$ 36,526,053
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Vext claims former auditor not professional, competent

2024-06-24 20:00 ET - Street Wire

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by Mike Caswell

Vext Science Inc., a cannabis listing on the Canadian Securities Exchange, has filed a lawsuit in the Supreme Court of British Columbia against its auditor. The company claims that the auditor, BF Borgers CPA PC of Colorado, was incapable of providing services in a "professional and competent manner" and that the firm's owner was not a qualified and skilled public accountant. Vext says that BF Borgers is liable for fraudulent misrepresentation.

The allegations are contained in a notice of claim that Vext filed at the Vancouver courthouse on June 17, 2024. The defendants are BF Borgers and its owner, Benjamin Borgers. The case arises from audits that BF Borgers performed for the years ended Dec. 31, 2022, and Dec. 31, 2023.

In performing the work, BF Borgers held itself out as being skilled, professional and competent, Vext says. In reality, however, the firm and Mr. Borgers were none of those things, the suit states. Vext complains that the firm had been targeted by the Canadian Public Accountability Board. (The CPAB is a regulator for auditing firms.) On Dec. 7, 2023, the CPAB banned BF Borgers from performing audit work in Canada.

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