Hive Blockchain (HIVE), a Bitcoin (BTC) mining company, has announced that it will delay the release of its interim financial statements for the three and nine month periods ending December 31, 2022. Hive has applied for a management cease trade order (MCTO) from the British Columbia Securities Commission, which will restrict its CEO and CFO from trading shares until the filing is completed. The MCTO will remain in effect until the filing is completed or Hive provides the BCSC with satisfactory evidence that the delay is due to circumstances beyond its control. Hive has stated that it is working diligently to complete the filing and will provide updates as soon as possible.
Hive Technologies Inc. has announced that it will be filing its financial statements late due to an unforeseen tax notice related to one of its European subsidiaries. The filings were due by February 14th under Canadian securities law requirements, but Hive now expects to file by February 28th, with a possibility of filing by February 21st. The company has apologized for the delay and is working to resolve the issue as soon as possible.
The British Columbia Securities Commission (BCSC) has imposed a penalty of 200 Canadian dollars ($149) on companies filing their interim statements late. The penalty is applicable without further notice and may lead to a cease trade order. At the time of writing, HIVE shares on the Toronto Stock Exchange Venture exchange (TSXV) have seen an 8.9% increase and are currently trading at 4.40 Canadian dollars. Investors should be aware of the BCSC’s penalty for late filings and the potential for a cease trade order.
