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No. of Recommendations: 1
SEC Filing:

Actrade Reference:!OpenForm

Doesn't sound very helpful in guessing what will happen next.



As previously disclosed, the Board of Directors of Actrade Financial Technologies Ltd. (the “Company”) has directed the Audit Committee of the Board of Directors of the Company (the “Audit Committee”) to conduct an evaluation of, and make a recommendation to the Board of Directors with respect to, anonymous allegations relating to possible irregularities and other alleged improprieties in the operations conducted by the Company and its subsidiaries. The Audit Committee's work is ongoing.

Further, Deloitte & Touche LLP, the Company's independent auditors, has notified the Company that it has suspended its audit of the Company's financial statements for the fiscal year ended June 30, 2002. The Company has been unable to complete the disclosure required to be included in its Annual Report on Form 10-K for the fiscal year ended June 30, 2002 (the “Form 10-K”) and is currently unable to file the Form 10-K. At this time, it is not possible to provide any further guidance as to when the Form 10-K will be filed.
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