NEWS & INFO
News » ASC Imposes Cease Trade Order on RTY Mon Aug 10 2:46:38 UTC 2009
Real Time Measurements Inc. (RTY on TSX.V, the “Company”) Terry Matthews, President of RTY announces that, pursuant to a “Cease Trade Order” (“CTO”) issued by the Alberta Securities Commission (the “ASC”) at 13:40 PM Calgary time, trading of the securities of the Company shall cease, and the Management Cease Trade order which was granted on June 2 2009 has been revoked.
Pursuant to subsection 17(2) of the Alberta Securities Act the CTO has been imposed by the Executive Director of the ASC because the Company is in default of its obligation to file annual audited financial statements, annual management discussion and analysis and certification of its annual filings for the year ended January 31 2009, and for its obligation to file interim financial statements, management discussion and analysis and certification of interim filings for the three month period ended April 30 2009.
Management of the Company is continuing to take all necessary and prudent steps to ensure the annual and interim disclosure materials are filed as soon as possible. Once all the necessary disclosure is filed, under ASC Policy 12-601 the Company will be making application to the ASC for a revocation order to have the CTO lifted.
RTY is further announces that, contrary to previous updates pursuant to this matter, there is a material change to the information set out in its news release issued in Stockwatch dated May 15, 2009, in that, RTY now intends to file its annual financial statements within the next week, not on July 31 2009 as previously expected.
Real Time Measurements is a Canadian oil and gas technology development company that designs, builds and sells equipment and provides services to oil and gas companies in various parts of the world. The company uses innovative applications of recent technological developments to solve selected oil and gas upstream measurement problems in more efficient ways. The Company’s primary business activity revolves around the commercial development of premium quality sensors and data gathering systems which are used primarily in oil and gas wells.
For further information please contact
President, CEO, Director
Real Time Measurements Inc.
4500 50th Avenue SE Calgary AB T2P 3R4
Certain statements included in this news release constitute “forward-looking information” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. However, we disclaim any intention and assume no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release represents the expectations of Real Time as at April 20 2009, and, accordingly, is subject to change after such date. However, Real Time expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.