CanPR is cease traded and restating last year's accounts over $345,000 of receivables

CanPR Technology (TSXV: WPR), which runs a platform that helps immigrants apply for Canadian permanent residency, said on October 5 that it will restate its fiscal 2025 financial statements. Its shares have been under a cease trade order since October 2.

The restatement

The company and its auditor, Bassi & Karimjee LLP, decided an "additional provision for doubtful accounts of $345,000" is needed. The adjustment raises bad debt expense and lowers accounts receivable, net income and shareholders' equity, each by $345,000.

The reason given is "recent turnaround times on processing immigration files" at Immigration, Refugees and Citizenship Canada, which the company says affected how old its receivables are. In other words, clients are taking longer to pay, or may not pay, because their files are taking longer to process.

The clean opinion

Bassi & Karimjee issued an unmodified audit opinion on the original fiscal 2025 statements on September 26, 2025. The restatement means those statements overstated receivables and profit by $345,000.

The release does not give the original receivables balance or net income, so readers cannot tell from the release alone how large the correction is relative to the business.

The trading halt

The cease trade order took effect October 2. The release says management expects to finish the fiscal 2026 audit and file audited statements "no later than the end of October 2026" so the order can be revoked. It says the company has "cooperated with its Auditors and the OSC throughout this process."

Until the order is revoked, shareholders cannot trade the stock.

What to watch

The fiscal 2026 filing, and whether the receivables problem shows up again in the new year's numbers.

Source: CanPR Technology news release, October 5, 2026.