Cicer One Technologies Inc.

Cicer One Technologies Inc., an Ontario company, became bankrupt on April 11, 2023 under estate number 35-2931581, with BDO Canada Limited acting as Licensed Insolvency Trustee. The proceeding rests on section 49 of the Bankruptcy and Insolvency Act, with subsection 102(1) of the Act also cited. The Form 78 Statement of Affairs, sworn as at April 6, 2023 by officer Bob Embleton, shows total assets of $10,671.00 against total liabilities of $2,329,945.26, a deficiency of $2,319,274.26. Export Development Canada holds the only secured claim, with a balance of $589,329.00 on a $600,000.00 line of credit secured over inventory, furniture and the company's patent and IP, valued at $8,500.00, $2,170.00 and $1.00 respectively. Unsecured claims of $1,729,945.26 are listed, the largest being Wayne Kemick at $200,000.00, China Canada Angel Alliance Ltd. at $180,000.00, and Linkco Investments Inc. at $125,000.00. Several claims are listed as related-party, including $66,315.00 owed to Embleton and three claims by Perigee Convergent Solutions Inc. The estate remains active.