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Share Name | Share Symbol | Market | Type |
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TSXV:CY | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Cybersurf Corp. (TSX VENTURE:CY) (the "Corporation"), was unable to file its audited financial statements and other material for the fiscal year ended June 30, 2008 (the "Financial Statements") by the October 28, 2008 deadline set forth in National Instrument 51-102-Continuous Disclosure Obligations. A Management Cease Trade Order was issued by the Alberta Securities Commission (the "Commission") on November 5, 2008. The Corporation represented to the Commission that it could not agree on audit fees with its current auditor and was seeking new auditors. Also, the Corporation expected to engage new auditors and file its Financial Statements by December 27, 2008. The Corporation remains in default of its obligation to file the Financial Statements. On December 30, 2008, the Commission issued a Cease Trade Order against the Corporation, whereby it revoked its November 2008 Order and ordered that trading cease in respect of the securities of the Corporation until further order of the Commission or until the Cease Trade Order is revoked or varied. The Corporation is continuing to take measures to complete the audit of its Financial Statements, including hiring new auditors. On December 24, 2008 the Corporation had engaged DNTW Chartered Accountants, LLP a national Chartered Accounting firm with local offices in Calgary and Ottawa. The Corporation expects to complete its audit by January 31, 2009 at which time the Corporation will apply to the Commission to revoke the Cease Trade Order and take other steps to reinstate trading in the securities of the Corporation. About Cybersurf Corp. Cybersurf is an independent Internet and communications company providing consumers in the United States and Canada with a value-driven alternative to large incumbent carriers. Cybersurf prides itself on providing the highest possible quality of services at the lowest possible prices and is one of Canada's largest independent Internet service providers. Cybersurf believes consumers want 'The Freedom of Choice' that comes with having a truly independent provider as an alternative to larger incumbent telephone companies or cable carriers -- a choice that allows users to connect to the Internet how they want and with an independent provider that focuses on the needs of today's average user by providing quality service at the best possible price. Cybersurf is that choice. Cybersurf's common shares trade on the TSX Venture Exchange under the trading symbol "CY". Forward Looking Statements This news release may contain certain forward-looking statements. All statements, other than statements of historical fact, included herein, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Cybersurf does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.
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