Cryptocurrency mining company HIVE Blockchain Technologies Ltd announced earlier today the delay of the interim financial statement filing due to “unforeseen tax notice.”
Interim financial statements are condensed reports issued for a short period of time. It gives detailed information about the company’s performance at the end of the reporting year and can be shown to either investors or accountants.
Hive Blockchain Discloses Late Interim Financial Statement Filing
Citing unforeseen tax notice, Hive Blockchain noted in a press release expressing more of what was unable to be done due to the reason, the company stated,
“We will be unable to file the interim financial statements and accompanying management’s discussion and analysis for the three and nine months ended December 31, 2022 (collectively, the “Interim Filings”) by February 14, 2023, being the date that such filings are due under applicable Canadian securities law requirements.”
According to the company, the delayed filing is as a result of the company given ‘adequate time’ to review the potential impact. Though the delayed filing may be advantageous to the company giving it more time for assessment, it stated it will file the Interim statement on or before February 28, 2023 and will publish a press release disclosing the completion of the filings.
Following the late filing, Hive noted that it has applied to the British Columbia Securities Commission for a management cease trade order in order impose limits on its executives such as the Company’s chief executive officer and chief financial officer from trading the Company’s shares before Interim Filings have been done and the MCTO is revoked.
Currently, since the company hasn’t filed the interim report yet, there are guidelines which it has to follow which include issuing biweekly default status reports by way of a news release.
