Nerd Block Inc

Nerd Block Inc filed a notice of intention to make a proposal on August 2, 2017 under subsection 50.4(1) of the Bankruptcy and Insolvency Act, with Rosen Goldberg Inc. as licensed insolvency trustee, file number 31-2279215 in Ontario. The Statement of Affairs as at August 30, 2017 puts total assets at $800,000.00 against total liabilities of $7,840,242.82 and states a deficiency of $7,040,242.82, with $6,762,435.81 of unsecured claims on List A and preferred claims of $27,807.01. The Toronto Dominion Bank holds the $800,000.00 secured claim, and the Business Development Bank of Canada is also listed as secured. The largest unsecured claims are $587,331.67 to Metro Customs Brokers Inc., $384,456.71 to By George!, $348,199.56 to A Crowded Coop, LLC and $259,747.76 to 24-7 Intouch.