Cyper West Technology Inc.

Cyper West Technology Inc. has been bankrupt since June 12, 2023, with MNP Ltd. acting as Licensed Insolvency Trustee under the Bankruptcy and Insolvency Act in the Supreme Court of British Columbia, court file 11-2953963. The Statement of Affairs filed in the bankruptcy shows assets of $106,001.00, almost entirely a $105,000.00 receivable from related company Enterprise Cyper Inc. on which no realization is expected, alongside $100.00 in cash and machinery and equipment carried at $1.00. Liabilities are stated at $88,610.01, comprising $40,598.00 secured, nil preferred and $47,910.01 unsecured. Claims filed total $55,363.68, all unsecured. Toronto Dominion Bank, which a BC PPR search as of June 6, 2023 showed holds a registered general security agreement over all personal property and proceeds, submitted an unsecured proof of claim of $44,223.99. The Canada Revenue Agency's deemed trust claim for unremitted payroll source deductions, approximately $700.00 per the company's internal balance sheet, ranks ahead of all other creditors.