|By Business Wire||
|June 19, 2014 04:24 PM EDT||
Sonomax Technologies Inc. (CSE:SHH) is providing this bi-weekly default status report in accordance with National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults. On May 6, 2014, Sonomax announced by way of press release that for the reasons disclosed therein, the filing of Sonomax’s audited financial statements for the fiscal year ended December 31, 2013 and the related management’s discussion and analysis (collectively, the “2013 Annual Financial Statements”) would not be completed by the legal deadline of April 30, 2014.
As a result of the delay in filing the 2013 Annual Financial Statements, Sonomax’s principal regulator, the Autorité des marchés financiers, granted a management cease-trade order (“MCTO”) to Sonomax. The MCTO restricts all trading in securities of Sonomax, whether direct or indirect, by Sonomax’s six directors and senior officers until such time as the 2013 Annual Financial Statements are filed by Sonomax. The MCTO does not affect the ability of other shareholders of Sonomax to trade their securities.
As previously reported, Sonomax’s failure to file the 2013 Annual Financial Statements by the prescribed deadline is due to Sonomax making the necessary arrangements to complete its 2013 annual audit. In particular, in light of its difficult financial situation, Sonomax must make satisfactory arrangements to pay its auditors. Sonomax again confirms that is actively seeking the necessary funding and is confident that it will be able to make such satisfactory financial arrangements with its auditors shortly.
Pursuant to the provisions of the alternative information guidelines specified by National Policy 12-203, Sonomax reports that since May 6, 2014, except as stated in this default status report, there have not been any material changes to the information contained therein; nor any failure by Sonomax to fulfill its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines, and there are no additional defaults or anticipated defaults subsequent to the disclosure therein, other than the delay in filing the 2013 Annual Financial Statements and a default in filing Sonomax’s interim financial statements and related management discussion and analysis for the quarter ended March 31, 2014 by the prescribed deadline of May 30, 2014. Further, Sonomax confirms that, at the date hereof, there are no insolvency proceedings against it and no other material information concerning the affairs of Sonomax that has not been generally disclosed.
Until the 2013 Annual Financial Statements are filed, Sonomax intends to continue to satisfy the provisions of the alternative information guidelines specified by National Policy 12-203 by issuing bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR. Sonomax would file, to the extent applicable, its next default status report on or about July 4, 2014.
Sonomax also announces the resignations of Mr. Peter Malouf, Chairman, and Mr. Peter Brennan, Vice-Chairman of the Board of Directors of Sonomax. Management would like to thank these gentlemen for many years of service and dedication to Sonomax. As Sonomax starts down a path to attempt to reorganize the company, it is no longer possible for them to stay on the Board. As a result, the Board of Directors of Sonomax consists of Nick Laperle, Adam Schwartz and Kevin Veenstra.
About Sonomax Technologies Inc.
Sonomax is a leader in the product development, research, and licensing of in-ear technologies. With more than 21 patents and 10 trademarks worldwide, Sonomax’s pioneering innovation includes instant custom-fitting earpieces that deliver the most comfortable, protective and sound-enhancing experience in the world. Learn more at http://sonomax.com
This news release contains certain forward-looking statements that reflect the current views and/or expectations of Sonomax Technologies Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
Apr. 26, 2017 10:00 AM EDT Reads: 404
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
Apr. 26, 2017 10:00 AM EDT Reads: 462
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Apr. 26, 2017 09:45 AM EDT Reads: 2,308
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Apr. 26, 2017 09:45 AM EDT Reads: 1,851
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
Apr. 26, 2017 09:26 AM EDT Reads: 191
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Apr. 26, 2017 09:00 AM EDT Reads: 272
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
Apr. 26, 2017 08:45 AM EDT Reads: 1,900
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Apr. 26, 2017 08:45 AM EDT Reads: 137
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Apr. 26, 2017 07:45 AM EDT Reads: 739
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
Apr. 26, 2017 07:45 AM EDT Reads: 1,271
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyor belt between the Software Factory and production stages. Artifacts are ...
Apr. 26, 2017 07:45 AM EDT Reads: 1,158
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Apr. 26, 2017 07:45 AM EDT Reads: 653
Apr. 26, 2017 07:30 AM EDT Reads: 8,905
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Apr. 26, 2017 07:00 AM EDT Reads: 813
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 26, 2017 06:00 AM EDT Reads: 800