Due to the previously disclosed cash flow issues that the Company is experiencing in 2024, due to the lack of payment for goods and services by its largest customer, Divergent has not yet been able to complete the audit of its 2023 financial statements. As such, the Company will not meet the continuous disclosure requirement of making the Filings by
In connection with this delay, the Company expects that the
Should the Company receive sufficient funds from its largest customer, or engage in an alternative restructuring initiative, it will complete the audit process and complete and release the Filings in the future.
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FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements, including, without limitation, statements pertaining to the estimated timing of the Company making the Filings, and related expectations regarding the issuance of, and the requirements for the revocation of, the FFCTO. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Forward-looking statements are based on estimates and opinions of management of the Company at the time the information is presented, including expectations provided to Divergent by its customers. The Company may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.
Neither the
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2024 GlobeNewswire, Inc., source