Cypher Metaverse Inc. (CODE) Issues Fifth Default Status Update
Cypher metaverse Inc. Issues Bi-Weekly Default Status Update
Overview of Default Status Report
Vancouver, BC – Cypher metaverse Inc. (CSE:CODE) (“Cypher” or “the Company”) has released its fifth bi-weekly Default Status Report in compliance with National Policy 12-203 concerning Management Cease Trade Orders. This report follows the Company’s initial announcement regarding the delay in filing its annual audited financial statements, management’s discussion and analysis, and related certifications for the fiscal year ending December 31, 2024. The original deadline for these filings was April 30, 2025.
Update on Filing Delays
Since the previous updates issued on May 1, May 15, May 29, and June 12, 2025, Cypher confirms that there have been no significant changes to the previously disclosed information, nor has there been any failure to meet the intentions outlined in those communications, except for the updates provided herein.
Due to circumstances related to the delay in the Required Filings, the Company also failed to submit its interim unaudited financial statements and management’s discussion and analysis for the three-month period ending March 31, 2025. These Interim Filings were due by May 30, 2025, but could not be completed in accordance with Canadian securities regulations.
Ongoing Audit and Future Filings
The Board of Directors and management of Cypher assure stakeholders that the audit process is currently underway, and they are collaborating closely with a new auditor to fulfill the obligations associated with both the Required Filings and the Interim Filings. The Company plans to submit the Interim Filings within five business days following the completion of the Required Filings.
To comply with the alternative information guidelines set forth in NP 12-203, Cypher will continue to issue bi-weekly Default Status Reports until all required filings are submitted. Should the Company fail to file the Required Filings and Interim Filings promptly, it may face a cease trade order from Canadian Securities Regulatory Authorities.
About Cypher metaverse Inc.
Cypher metaverse Inc. is dedicated to exploring and investing in early-stage opportunities within the digital realm. The Company is actively involved in blockchain initiatives, including proof of work mining, proof of stake cryptocurrencies, and decentralized finance. Cypher also engages in various digital experiences collectively referred to as “the metaverse,” which encompasses non-fungible token-based gaming.
By leveraging strategic partnerships, Cypher aims to foster innovation and growth, creating new opportunities in the digital landscape. More information about the Company can be found on its official website at www.cypher-meta.com and its SEDAR+ profile at www.sedarplus.ca.
Cautionary Note on Forward-Looking Statements
This news release includes forward-looking information intended to inform shareholders and potential investors about management’s current expectations and plans. Readers are advised that reliance on such information may not be suitable for all purposes. Forward-looking statements may be identified by terms such as “anticipate,” “expect,” “intend,” and similar expressions.
Specifically, the forward-looking information in this release includes expectations regarding the Company’s business operations, the Management Cease Trade Order (MCTO), and the anticipated timing for filing the Required Filings and Interim Filings. These statements are based on various assumptions that may not hold true. While Cypher believes these expectations are reasonable, there is no guarantee that they will be realized.
Actual results may differ significantly from those anticipated due to various risks and uncertainties, including challenges within the digital currency sector, regulatory changes, and shifts in consumer sentiment towards blockchain technology.
Forward-looking information is valid only as of the date it is made, and the Company disclaims any obligation to update such information unless required by applicable securities laws.
Contact Information
For additional inquiries, please reach out to:
George Tsafalas
President & CEO
1 (778) 373-8578
[email protected]
www.cypher-meta.com
Neither the Canadian Securities Exchange nor its Market Regulator assumes responsibility for the adequacy of this release.
