BURNABY, BC, Jan. 31, 2012 /CNW/ - ESI Entertainment Systems Inc. ("ESI" or the "Company") (CNSX: ESY). As previously announced in a Press Release dated January 18, 2012, the Company applied to the BC Securities Commission, its principal regulator, for a Management Cease Trade Order in light of its anticipated delay in filing its Third Quarter Financial Results for the period ended November 30, 2011. The BC Securities Commission has today issued a Notice confirming that a Management Cease Trade Order has been issued pursuant to the Company's application.
It is anticipated that the Third Quarter Financial Results, Management's Discussion and Analysis and required Certificates for the period ended November 30, 2011,will be filed by February 10, 2011. Once those documents have been filed it is anticipated that the MCTO will be lifted. The Company will comply with its obligations to satisfy the provisions of the alternative information guidelines as set out in National Policy 12-203 for so long as it remains in default.
ESI is not the subject of any insolvency proceeding.
There is no other material information that has not been generally disclosed.
About ESI Entertainment Systems Inc.
ESI Entertainment Systems Inc (CNSX: ESY) is an idea generation and software development company. We develop concepts, create prototypes, establish partnerships and validate potential markets. When we have proven a product and its opportunities we create subsidiaries with a dedicated team, infrastructure, and resources to allow it to focus on building and selling the product to its market niche. Our team of experienced and dedicated people have led us to be revolutionary market leaders in many industries, including e-commerce payment technologies, hardware based input devices, real time auditing systems, transaction processing systems, graphical 3D displays, ecommerce web services, and payment fraud and risk mitigation.
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