American Aires Inc. Announces Updates on Annual Filings, Litigation and Listing Matters, Cease Trade Order, and 2024 Financial Statements

On May 8, 2026, American Aires announced that a Cease Trade Order (CTO) was issued by the Ontario Securities Commission on May 6, halting all trading of its shares on the Canadian Securities Exchange. The immediate trigger was the resignation of auditor AGT Partners LLP on April 6, which prevented the company from filing its audited 2025 annual financial statements within the prescribed deadline. Compounding the crisis, the Canadian Public Accountability Board (CPAB) advised that the company’s 2024 audited financial statements should no longer be relied upon, citing non‑compliance with US sales tax laws. Concurrently, the OTC Markets Group moved the stock from the OTCQB to the OTC Pink market under the ticker “AAIRF,” significantly reducing trading visibility and liquidity. Management disclosed “tight liquidity,” multiple supplier demand letters, and an active review of strategic alternatives—including potential financing, partnerships, or asset dispositions.

This announcement culminates a series of rapidly deteriorating disclosures: - Nov 2025: Record Q3 revenue ($7.4 M) but also a $5.54 M working‑capital deficiency, cash of just $0.23 M, and a formal going‑concern warning. - Mar 2026: A lawsuit was filed against former President Dimitry Serov for >$3 M in damages over alleged fiduciary breaches, IP misappropriation, and unauthorized fund diversions. - Apr 2026: The auditor resigned, the 2025 audit was delayed, and the company reported supply‑chain disruptions, inability to fully meet demand, and constrained liquidity.

Thus, the most recent release confirms that the situation has escalated from a going‑concern warning to an actual regulatory trading suspension, with prior financials now formally deemed unreliable.

The Cease Trade Order and the CPAB’s repudiation of the 2024 financials constitute a material‑negative event of the highest order. The immediate impact is a trading freeze on the primary exchange, freezing out existing shareholders and blocking any capital‑raising. The move to OTC Pink—a market tier historically associated with distressed or non‑reporting companies—destroys institutional interest and severely curtails liquidity. The admission that the 2024 statements cannot be relied upon suggests either significant accounting failures or potential misrepresentations, which could invite further regulatory sanctions or tax liabilities. In parallel, the liquidity crisis (cash likely exhausted by May 2026) and supplier demands place the company’s very existence in question. All prior publicly released information was presented in the best light; this news strips away any remaining gloss. The negative trajectory is now fully manifest. The rating is unequivocally Material – Negative.

American Aires Inc. markets devices (e.g., Aires Lifetune) that purport to harmonize or neutralize electromagnetic radiation. The company grew revenue rapidly via direct‑to‑consumer digital advertising, but it failed to achieve profitability. Its flagship products have lost momentum amid management turmoil, supply‑chain interruptions, and now a regulatory suspension that will likely destroy customer confidence.