Hire Technologies Inc. (TSXV.HIRE.V), a Toronto-based staffing provider, announced Friday that the Ontario Securities Commission would be issuing a “failure-to-file cease trade order” after the company reported it would not be able to file audited financial statements for the year ended Dec. 31, 2022 by the May 1 deadline.

The company said it was unable to file by the deadline due to unforeseen challenges in completing its 2022 financial audit. It reported internal resource constraints due to the recent resignation of its CFO and search for a replacement have caused delays. CFO Charlie Cooper had resigned effective Feb. 10. Also, complexities associated with its recently completed divestiture of The Headhunters business are adding time to the audit.

Hire Technologies said it will continue to work with its auditor to complete the audit, but there is no assurance it will be able to remedy the filing default and have the failure-to-file case trade order revoked in a timely manner or at all.

The company also said it had applied with the Ontario Securities Commission for a temporary management cease trade order that would have prohibited the CEO from trading in the stock until reporting requirements were up to date but would have allowed the public who are not insiders to continue trading in the stock.