Generative AI Solutions Corp. Updates on Annual Financial Statements Status

Generative AI Solutions Corp. Financial Statement Update



On July 18, 2025, Generative AI Solutions Corp. (hereafter referred to as "GenAI" or "the Company") shared an important communication regarding its financial reporting status. Registered on both the Canadian Securities Exchange (CSE: AICO) and the OTCQB (AICOF), GenAI has encountered challenges in filing its annual audited financial statements for the fiscal year ending January 31, 2025.

The British Columbia Securities Commission (BCSC) has issued a management cease trade order (MCTO). This measure restricts CEO Patrick Gray and CFO Paul Ciullo from trading GenAI securities until the necessary financial documents are filed and the MCTO is lifted. It is essential to note that this order does not impede other shareholders from trading their shares.

As previously announced by the Company, there have been delays in filing the required documents, which include the annual audited financial statements and the management's discussion and analysis. Initially, GenAI expected to submit these documents by June 30, 2025. However, the requirement for a thorough quality review of audit procedures and financial statements has extended this timeline. This situation is primarily attributable to the complex nature of certain acquisitions and their subsequent treatment in financial disclosures.

GenAI is committed to rectifying this situation and has pledged compliance with NP 12-203 provisions. The Company will provide updates through bi-weekly default status reports while it remains in default regarding its financial statement requirements. These reports will include any significant changes in circumstances, any remedial actions taken, and updates on additional defaults, maintaining transparency with shareholders and stakeholders alike.

In addition to addressing current issues, GenAI has a forward-looking outlook as a pioneer in the artificial intelligence sector. The Company is investing in the development of its proprietary MAI Cloud™ platform, aimed at delivering a variety of AI-powered tools and solutions that cater to different industries. The dedicated GenAI team, comprised of skilled AI professionals and engineers, is advancing these innovations with a focus on creating transformative services that enhance productivity and user experience.

As it stands, the ability of GenAI to continue as a functioning entity depends on several factors, including regulatory approvals and the successful rollout of applications that generate revenue. While this delay poses a challenge, the Company remains optimistic about navigating through these circumstances and is actively working on meeting all financial obligations as outlined by governing laws.

In conclusion, while GenAI faces delays in financial reporting, its commitment to accountability and transparency remains strong. The enterprise's emphasis on developing cutting-edge AI technology promises a bright future as it works through the current hurdles. Stakeholders can learn more about the Company's initiatives and developments by visiting their official website at www.genai-solutions.com.

For any inquiries, Patrick Gray, CEO, and Chairman of the Board is available via phone at +1-833-879-7632 for North America and +1-406-879-7632 for international calls, or through email at [email protected]

Note: This update includes forward-looking statements that may involve risks. Readers should exercise caution when interpreting these projections. The Canadian Securities Exchange has not reviewed this news release and does not assume responsibility for its content.

Topics General Business)

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