JointCraft Inc.

JointCraft Inc. filed a notice of intention to make a proposal under section 50.4 of the BIA on January 9, 2026 in Ontario, and the proceeding remains active. Management estimates total liabilities of approximately $10.2 million, with no total assets figure stated: approximately $3.5 million on a secured First Promissory Note and $650,000 on a secured Second Promissory Note, both owing to related-party lender 1158667 Ontario Inc., and approximately $6.1 million unsecured, of which approximately $4.7 million is owed to shareholders on unsecured loans. The Second Promissory Note matured March 31, 2025 and was in default; 115 Ontario delivered a demand for repayment of the entire secured indebtedness and a section 244(1) notice on December 30, 2025. The Proposal Trustee had not obtained an independent security opinion as of its First Report. Motif Labs Ltd., holding a PPSA registration limited to input materials, has given notice it will not renew and will send no further input materials, and none are held at the Vaughan facility.