Memex Inc. Strives to Resolve Financial Reporting Issues Amid Regulatory Challenges

BURLINGTON, ON, May 6, 2024 – Memex Inc., noted for its innovations in the Industrial Internet of Things (IIoT) and manufacturing productivity software, announced efforts to finalize their annual financial statements for the fiscal year ending September 30, 2023. These statements include associated management discussions and required certifications by the CEO and CFO, aiming for completion by the end of May 2024.

This announcement follows a Failure-to-file Cease Trade Order (FFCTO) issued by the Ontario Securities Commission effective February 2, 2024, due to the company's missed January 28, 2024 filing deadline. Memex attributed the delay to financial issues that hampered the commencement of necessary audit processes. This FFCTO has also led to the suspension of trading of Memex's shares on the TSX Venture Exchange.

The company has committed to providing bi-weekly updates until the financial reports are submitted. They affirmed that no other significant undisclosed information exists concerning their operations.