Cypher Metaverse Inc. Provides Update on Default Status

Cypher Metaverse Inc. (CSE:CODE), a Vancouver-based company, has issued its fifth Default Status Report concerning its delayed financial filings. Initially announced in April 2025, the company confirmed delays in submitting annual audited financial statements for 2024 due to pending audits. Consequently, the filing of its interim unaudited financial statements for Q1 2025 was also postponed. The delay follows Canadian securities regulations requiring these filings by May 30, 2025.

To address the backlog, Cypher is actively working with a new auditor and plans to submit all required documents promptly. As an interim measure, Cypher will continue issuing bi-weekly Default Status Reports. The company faces potential regulatory actions, including a cease trade order, should filings remain overdue.