Nuvoola Inc.

Nuvoola Inc. has been in bankruptcy since February 20, 2025, following an application by Royal Bank of Canada under section 16(1) of the Bankruptcy and Insolvency Act in the Ontario Superior Court of Justice (in Bankruptcy and Insolvency), court file BK-24-000227-0033. MNP Ltd. is trustee, and the proceeding remains active. The Statement of Affairs sworn by director Martin Reniere, as at March 10, 2025, reports total assets of $560,002.00 against total liabilities of $3,752,287.00 and a deficiency of $3,192,285.00. The largest claims listed are R&D Capital Inc. at $944,051.00 in total, Royal Bank of Canada's secured claim of $797,936.00 with security valued at nil, FIT Ventures Lending Inc. at $360,000.00, Revenu Québec's $321,024.00 deemed trust claim for employee source deductions, and Agence du revenu du Québec at $320,203.00.