PowerTap Hydrogen Capital (NEO: MOVE) (OTC: MOTNF), a leading provider of onsite hydrogen production technology, is sharing a status update regarding the management cease trade order (“MCTO”) granted on Sept. 29, 2023, by the British Columbia Securities Commission. The update noted that last month the company had announced that there would be a delay in the filing of its financial statements and accompanying management discussion and analysis for the fiscal year ended June 30, 2023; as a result, the MCTO had been issued. According to the status update, during the MCTO, while the company’s CEO and CFO will not be able to trade in the company’s common shares, the general investing public may do so.
PowerTap is also reporting that SHIM & Associates LLP has notified the company that it is no longer in a position to continue the audit of the consolidated financial statements of the company due to scheduling conflicts. The announcement noted that there are no disagreements, consultations or unresolved issues in connection with the resignation of SHIM, which has been approved by PowerTap’s board of directors. The company is now in the process of identifying a successor auditor and will provide a further update on or before Oct. 27, 2023.
To view the full press release, visit https://ibn.fm/T55yC
About PowerTap Hydrogen Capital Corp.
PowerTap Hydrogen, through its wholly owned subsidiary PowerTap Hydrogen Fueling Corp., is focused on installing hydrogen production and dispensing fueling infrastructure in the United States. PowerTap’s patented solution has been developed over 20 years. PowerTap is now commercializing its third-generation blue hydrogen product that will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure. For more information about the company, please visit www.PowerTapCapital.com.
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at https://ibn.fm/MOTNF
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