RYU Apparel Inc. announced that it has been delayed in filing its audited annual financial statements for the year ended December 31, 2018.

The deadline with Canadian securities regulators had been April 30, 2019.

RYU said in a statement, “The company is working diligently with its auditors to make the filings as soon as possible. Subject to the completion of remaining customary audit procedures, the company expects to complete the required filings on or before Thursday, May 9, 2019.”

In connection with the delay, the company expects that the British Columbia Securities Commission (BCSC) will be issuing a failure-to-file cease trade order (FFCTO) against the company. When issued, the company expects the FFCTO to affect trading in all securities of the company until RYU makes its filings Once the filings are made, such filings will constitute the company’s application to have the FFCTO revoked.