DMG Blockchain Solutions Inc. (OTCMKTS:DMGGF) (TSX-V:DMGI) Stock Sees Selling Pressure At Higher Level
DMG Blockchain Solutions Inc. (OTCMKTS:DMGGF) (TSX-V:DMGI) is down 9% in a week. The company has announced that external auditors have informed it that they need more time to finalize internal audit procedures and review for the financial year ending 30, 2021.
Market Stats
On Wednesday, DMGGF stock jumped 0.46% to $0.5106 with more than 226K shares, compared to its average volume of 719K shares. The stock has moved within a range of $0.4987 – 0.5534 after opening trading at $0.5089.
DMG Blockchain Solutions Announces Delay of Annual Filings and Application for a Management Cease Trade Order
As a consequence, the firm will be unable to submit its audited consolidated financial report for the fiscal year ending September 30, 2021, as well as the associated management’s analysis and discussion and the CFO and CFEO accreditations to be conveyed regard of the 2021 yearly Financial Statements (the “Certifications”) by the submission deadline of January 28, 2022, as required by relevant Canadian securities laws.
The company has also revealed that it will submit an application to the main securities regulator in Canada, British Columbia Securities Commission, under National Policy 12-203 for a management cease trade order to be issued in connection to the delayed filing of the results. However, there is no guarantee that the regulator will grant the MCTO. So DMGGF is worth watching.
Traders Corner
DMGGF stock is trading below the 20-Day and 50-Day Moving averages of $0.2082 and $0.3057 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.6062.
