FRX Innovations Faces Filing Delays and Negotiations

FRX Innovations Inc (TSE:FRXI) has released an update.

FRX Innovations Inc. has revealed a delay in filing its annual financial statements for 2023 due to an extended audit process, resulting in the Ontario Securities Commission granting a management cease trade order (MCTO) and a subsequent two-week extension. The company’s standstill agreement with its major lender has expired amidst ongoing strategic negotiations, though operations continue under the presumption of the agreement’s effect. Regular updates will be issued as the company complies with alternative information guidelines and issues bi-weekly status reports during the MCTO period.

For further insights into TSE:FRXI stock, check out TipRanks’ Stock Analysis page.