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Regulatory

Digital Asset Technologies Inc. Clarifying News Release

DATT Admits Misleading Disclosures as Regulatory Compliance Collapses

By The Northwire Desk — AI Analysis Apr 10, 2026 · 22:35 DATT · 0.015 Digital Asset Technologies Inc.
Executive Summary
  • The most recent release (April 10, 2026) is a clarifying retraction where the company admits prior disclosures regarding its LiquidLink AI Corp. acquisition, Xrpfy platform capabilities, and MSB registration were inaccurate or overly promotional.
  • The company confirms it did not obtain Money Services Business (MSB) registration with FINTRAC, prohibiting regulated payment activities in Canada.
  • Development of cross-chain liquidity bridge remains in non-commercial testing; no commercial launch has occurred.
  • Previous news items indicate a pattern of instability: former CEO and Director Marcus Ingram resigned in November 2025, followed by an auditor change from Manning Elliott LLP to Horizon Assurance LLP.
  • Legal settlements were reached with the former CEO (January/February 2026) for $125,000 cash plus shares, and with the former Auditor (March 2026) for $65,000 cash plus shares.
  • The company acknowledges that prior growth projections for investee companies (Moo Inc., Goldbloom Inc., Mylk Brands Inc.) should not be relied upon as they are no longer active.
Material Impact
  • Fundamental Business Model: The retraction of MSB registration status and commercial launch claims fundamentally undermines the company's stated value proposition. Without regulatory approval, the core business cannot operate legally in Canada.
  • Investor Trust: Explicit admission that prior statements were "inaccurate, incomplete, unbalanced, or overly promotional" creates significant reputational damage and potential liability for investors who relied on those claims.
  • Governance Risk: The sequence of events (CEO resignation, Auditor change, Legal settlements with both CEO and Auditor) suggests severe internal governance failures and potential financial irregularities that triggered the auditor's civil claim.
  • Financial Impact: Settlements totaling $190,000 in cash plus significant share dilution (8+ million shares issued for settlements) drain limited resources and increase float without generating revenue.
  • Regulatory Risk: The failure to meet MSB registration deadlines and the retraction of claims invite scrutiny from securities regulators regarding disclosure compliance.
DATT · Price
Company Overview
  • Company: Digital Asset Technologies Inc. (DATT).
  • Flagship Project: LiquidLink AI Corp. acquisition and Xrpfy platform intended to provide cross-chain liquidity and Ripple (XRP) access via a node infrastructure.
  • Current Status: The project is in "non-commercial testing phase." No commercial launch or customer onboarding has occurred.
  • Regulatory Status: Failed to obtain MSB registration with FINTRAC by the required deadline (Oct 23, 2025). Not authorized for regulated payment activities in Canada.
  • Investee Companies: Prior growth projections for Moo Inc., Goldbloom Inc., and Mylk Brands Inc. are withdrawn as they are no longer active businesses.
Read the original news release →

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