Ascalade Communications Inc. (TSX:ACG) reported that it won't be able to provide its shareholders with its fiscal 2007 financial statements because of its Companies' Creditors Arrangement Act (CCAA) application.
The Richmond-based maker of wireless communication devices filed for creditor protection last month after announcing that it wouldn't be able to fund operations to meet consumer demand.
The company expects that its annual reports will not be completed until after CCAA protection is lifted or expires.
Ascalade's share price range during the past week: between $0.06 and $0.14; 52-week high: $2.90; 52-week low: $0.05.