Cenit Corporation: Filing of Interim Financial Statements to Be Delayed
January 29 2008 - 4:30PM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: CNT)(PINK SHEETS: CNTGF)
announced today that unaudited interim financial statements for the
six months ended November 30, 2007 (the "statements") due to be
filed as of the date hereof will instead be filed on or before
February 15, 2008. The delay is a result of difficulties
encountered in a recent change of accounting staff. In connection
with the above, Cenit has made application to the Ontario
Securities Commission for a Management Cease Trade Order for the
period of time the statements are outstanding.
Cenit also announced that an agent formerly retained by Cenit
subsidiary; Health Promotions Strategies Inc. ("HPSI") is currently
under investigation for failing to remit funds generated by the
sale of Break-Open Tickets. Cenit sold the HPSI customer list as of
May 31, 2007 but is responsible for any funds generated from the
sale of Tickets prior to that date and not remitted to the
sponsoring Charity which amount may total approximately $30,000. A
similar amount has been determined to have not been remitted by the
former agent pursuant to his association with the purchaser of the
HPSI customer list, as such the purchaser is witholding residual
payments due pursuant to the sale of the customer list. Cenit will
seek restitution from the former agent and hopes to reach an
agreement with the purchaser of its customer list regarding
residual payments.
About Cenit Corp.
Cenit Corporation is a Canadian holding company with three
subsidiary operating companies: Blue Port Technologies Inc. (BP),
Continental Asset Management Inc. (CAM) and Health Promotions
Strategies Inc. (HPSI). BP is a software development and recruiting
services company. CAM is a vendor of point of sale systems. HPSI is
a registered gaming supplier.
Shares Outstanding: 23,876,327
"The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release"
Contacts: Cenit Corporation J. Birks Bovaird (416) 214-9152
Cenit Corporation Tim Campbell (416) 214-9152 Website:
www.cenitcorp.com
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