Universal IbogaineTSXV: IBO

Actual: Apr 1, 2024

Engaged Changemark Research + Evaluation Ltd as CRO to compile Health Canada Clinical Trial Application (CTA); 4-6 month expected timeline

Why it matters: CRO engagement for CTA preparation was the first concrete step toward clinical development. GMP ibogaine supply confirmed secured.

Actual: Jan 22, 2025

Sold Belize island property (subsidiary) for USD $300,000 (~CAD $416,000 net); proceeds to fund audit completion and re-engage R&D consultants for CTA

Why it matters: Asset sale to fund basic operations and CTA work indicates severe cash shortage. Selling physical assets to fund regulatory filings is a distress signal.

Actual: Jul 16, 2025

CFO departure; CEO debt settlement via share issuance; board member resignation; two new board members appointed September

Why it matters: Executive turnover and debt-for-equity swaps are hallmarks of corporate distress.

Actual: Sep 4, 2025

Announced intent to file CTA with Health Canada within 90 days; confirmed GMP ibogaine supply secured; selected Intrinsik Corp for regulatory strategy

Why it matters: The 90-day CTA commitment (deadline ~Dec 2025) was NOT met. Despite engaging a regulatory consultant (Intrinsik) and confirming drug supply, the company could not execute the filing.

Actual: Dec 4, 2025

Alberta Securities Commission issued Management Cease Trade Order (MCTO) for failure to file annual audited financial statements

Why it matters: MCTO prevents management from trading securities and signals regulatory non-compliance. Combined with $726,500 in matured convertible debt and the temporary closure of Kelburn Recovery Centre (Winnipeg), the company faces existential risk.

Actual: Jan 3, 2026

Bi-weekly default status report: CTA filing postponed until "after restructuring completion"; exploring sale of Kelburn Recovery Centre property; restructuring ongoing

Why it matters: CTA filing indefinitely postponed. The ibogaine clinical programme cannot proceed until the company's financial and regulatory situation stabilizes. High risk of delisting or dissolution.

Watch next: Restructuring completion; MCTO lifting; CTA filing; any acquisition or partnership announcement