MOVE:CC - InvestorNewsBreaks - PowerTap Hydrogen Capital Corp. (NEO: MOVE) (OTC: MOTNF) Reports Status Update
PowerTap Hydrogen Capital (NEO: MOVE) (OTC: MOTNF), a leading provider of onsite hydrogen production technology, has released an update on the status of the management cease trade order (“MCTO”) issued last month. According to the announcement, the British Columbia Securities Commission (“BCSC”) granted the MCTO in September when PowerTap noted a delay in filing financial statements and accompanying management’s discussion and analysis for the fiscal year ended June 30, 2023. Under the MCTO, the general investing public may continue to trade in the company's listed common shares while PowerTap CEO and CFO may not trade in the company's common shares.
The update also noted that PowerTap is searching for an auditor, following the resignation of SHIM & Associates LLP. In addition, the company announced that two board members — John Martin and John Zorbas — have resigned, while Lance McIntosh has been appointed to the board. McIntosh brings 40-plus years of experience in the senior management, corporate finance and accounting spaces, serving in senior financial positions with both private and public companies. Currently serving as principal at LEM Consulting and chief financial officer of Previcare Group, McIntosh has invaluable expertise in financial operations, corporate development and the “going-public” process as well as financial operations management, financial administration and control, M&A, and project and acquisition financing.
To view the full press release, visit https://ibn.fm/AIFr3
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.
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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