Gratomic Inc.: Late Filing of Audited Financial Statements and MD&A for Fiscal Year 2024
On April 11, 2025, Gratomic Inc. (GRAT) made an announcement regarding the delay in filing its audited financial statements and Management, Discussion and Analysis (MD&A) for the year ended December 31, 2024. The Company is currently in default of filing these documents as required by the relevant securities laws, which had a deadline of April 30, 2025.
Impact on Gratomic Inc.
The delay in filing the Financial Disclosure is a material event for Gratomic Inc., as it may create uncertainty among investors and impact the Company’s trading activities. The National Policy 12-203 Management Cease Trade Orders (the “Policy”) will be invoked, which will result in a cease trade order being issued by the securities regulatory authorities in Canada. This means that the trading of Gratomic’s common shares will be halted until the Financial Disclosure is filed.
Impact on Shareholders
The delay in filing the Financial Disclosure could potentially impact shareholders in several ways. Firstly, the trading of Gratomic’s common shares will be halted, which means that shareholders will not be able to buy or sell their shares until the Financial Disclosure is filed. Secondly, the uncertainty created by the delay could potentially impact the share price negatively. Lastly, the delay in filing the Financial Disclosure could also result in increased regulatory scrutiny and potential fines or penalties for the Company.
Impact on the Market
The delay in filing the Financial Disclosure by Gratomic Inc. could potentially impact the overall market sentiment. The Company is involved in the graphene market, which has been gaining significant attention due to its potential applications in various industries, including technology, automotive, and energy. A delay in filing the Financial Disclosure by a company in this sector could potentially create uncertainty and negatively impact investor confidence in the sector as a whole.
Company’s Explanation
Gratomic Inc. has not provided any information regarding the reason for the delay in filing the Financial Disclosure. However, the Company has stated that it is working diligently with its auditors to complete the audit process as soon as possible.
Conclusion
Gratomic Inc.’s delay in filing its audited financial statements and MD&A for the year ended December 31, 2024, will result in a cease trade order being issued, halting the trading of the Company’s common shares. This delay could potentially impact the Company’s shareholders negatively, as well as create uncertainty in the graphene market. Gratomic Inc. has stated that it is working with its auditors to complete the audit process as soon as possible.
- Gratomic Inc. to be in default of filing audited financial statements and MD&A for FY2024
- Trading of common shares halted
- Potential negative impact on shareholders and market sentiment
- Company working with auditors to complete audit process
