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VANCOUVER, British Columbia, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI:TSXV) (FOBIF: OTCQB) (the “Company” or “Fobi”), an industry leader in harnessing AI and data intelligence to enable digital transformation, is committed to maintaining transparency and continuous communication with its stakeholders regarding the recent cease trade order (“CTO”) issued by the British Columbia Securities Commission.
The Company, in collaboration with its auditors, is actively working to finalize the audit and filing of its financial statements for the fiscal year ended June 30, 2024, as well as the related management discussion and analysis (“2024 Annual Filings”). These filings were due on October 28, 2024, and the Company is dedicated to ensuring compliance with all applicable standards and regulatory requirements (“Standards”). Fobi acknowledges the significance of adhering to these Standards and is making every effort to complete the 2024 Annual Filings promptly.
Rob Anson, CEO of Fobi AI, states: “We understand the concerns of our investors and stakeholders, and we are fully committed to addressing this situation with the utmost diligence. Our team is working hard to finalize the audit, and we greatly appreciate the ongoing support and understanding from our shareholders during this process."
Fobi is focused on upholding the highest standards of governance and transparency. The Company is confident that, once the audit is completed, it will be well-positioned to apply for the lifting of the CTO and continue its mission to deliver cutting-edge solutions to its clients while providing value to its shareholders.
The Company will provide further updates as developments occur and encourages all stakeholders to stay informed through its official communications.
This press release is available on the Fobi website.
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About Fobi AI
Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste at scale.
Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe, and is the largest data aggregator in Canada's hospitality & tourism industry.