Ecoation Innovative Solutions Inc.

Ecoation Innovative Solutions Inc. filed a notice of intention to make a proposal under section 50.4 of the Bankruptcy and Insolvency Act on April 8, 2025, and the proceeding remains active. The company's most recent unaudited financial statements, as at August 31, 2024, showed total assets of $4,389,107 against total liabilities of $17,398,440, of which approximately $13.5 million consists of simple agreements for future equity contractually junior to outstanding indebtedness and creditor claims. The creditor list filed with the notice of intention put estimated liabilities at approximately $3.4 million, owed primarily to His Majesty the King in Right of Canada, represented by the Minister of Agriculture and Agri-Food, under an unsecured loan. Ecoation reports no material secured creditors other than a general security agreement in favour of Royal Bank of Canada, registered in the British Columbia Personal Property Registry as 440418L over credit card balances, with $30,394 outstanding as at April 9, 2025. An order was made in the proceeding on June 12, 2025.