TGS ESports Inc (TSXV: TGS) has found itself in some hot water this morning. The firm has seen the trading in its securities halted by the British Columbia Securities Commission.
The halt is related to the firms failure to file its audited financial results for the period ended June 30, 2021. Due on October 28, the company has yet to file the documents, with the firm saying that the cause of the delay is “not material.”
The firm primarily blamed the delay on the “accounting treatment of the previously announced acquisitions.” it appears that having conducted the acquisition of three separate firms as well as a a strategic investment in another over the course of the year has slowed down the firms auditors.
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While the company stated that the revocation is expected to occur “shortly” following the filing of its annual results, a more specific timeline wasn’t provided by the company, leaving shareholders in the dark.
TGS Esports last traded at $0.10 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
