Facilitates Completion of the Company's Annual
Filings
TORONTO, June 30,
2024 /CNW/ - Payfare Inc. ("Payfare" or the
"Company") (TSX: PAY) (OTCQX: PYFRF) today announces the
receipt of the System and Organization Controls ("SOC 1")
auditor's report from its material vendor which is required in
order for the Company's independent auditors to complete their
required audit procedures to issue their opinion on the Company's
annual financial statements.
The SOC 1 report has since been sent to the Company's auditors
to complete their remaining audit procedures so that they may issue
their audit opinion in respect of the Company's audited annual
financial statements for the year ended December 31, 2023. In addition, the Company will
complete its management's discussion and analysis, annual
information form and related certifications, all for the year ended
December 31, 2023 (collectively, the
"Annual Filings").
With the SOC 1 report now in hand, the Company expects that it
will be on track to complete its Annual Filings this week, and the
Company will issue a news release at such time as they are
completed and filed. Based on the Company's review of the vendor's
unqualified (clean) SOC 1 report, there should not be any impact to
the unaudited and summarized fourth quarter and year ended
December 31, 2023 financial results
that were previously reported and disclosed on April 25, 2024.
About Payfare (TSX:PAY, OTCQX: PYFRF)
Payfare is a leading, international Earned Wage Access ("EWA")
company powering instant access to earnings through an
award-winning digital banking platform for today's workforce.
Payfare partners with leading e-commerce marketplaces, payroll
platforms, and employers to provide financial security and
inclusion for all workers.
Cautionary Statement Regarding Forward Looking
Information
Information and statements contained in this news release that
are not historical facts are "forward-looking information" within
the meaning of applicable securities legislation that involve risks
and uncertainties relating, but not limited, to Payfare's current
expectations, intentions, plans, and beliefs. Forward-looking
information can often be identified by forward-looking words such
as "anticipate", "believe", "expect", "goal", "plan", "target",
"intend", "estimate", "could", "should", "may" and "will" or the
negative of these terms or similar words suggesting future
outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions or statements about future events or
performance. Examples of forward-looking information in this news
release include, without limitation: the timing of filing of
Payfare's Annual Filings. This forward-looking information is
based, in part, on assumptions and factors that may change or prove
to be incorrect, thus causing actual results, performance or
achievements to be materially different from those expressed or
implied by forward-looking information.
Security holders, potential security holders and other
prospective investors should be aware that these statements are
subject to known and unknown risks, uncertainties and other factors
that could cause actual results to differ materially from those
suggested by the forward-looking statements. Such risks include the
factors discussed from time to time in Payfare's filings with the
Canadian Securities Authorities, copies of which can be found under
Payfare's profile on the SEDAR+ website at www.sedarplus.ca.
Security holders, potential security holders and other prospective
investors are cautioned not to place undue reliance on
forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and
various future events will not occur. Payfare undertakes no
obligation to update publicly or otherwise revise any
forward-looking information whether as a result of new information,
future events or other such factors which affect this information,
except as required by law.
SOURCE Payfare Inc.