Phenomenome Discoveries Inc. & Phenomenome Laboratory Services Inc.

Phenomenome Discoveries Inc. and Phenomenome Laboratory Services Inc. were placed in court-appointed receivership on 26 November 2015 by order of Mr. Justice B. J. Scherman, sitting in the Court of Queen's Bench for Saskatchewan in Bankruptcy and Insolvency, under s. 243 of the BIA and provincial Judicature Act authority. PDI's unaudited consolidated statements as at 30 November 2015 showed assets of $4,042,000 against liabilities of $20,880,000, shareholders' equity of $(16,838,000), and operating losses of $3.2 million for the eight months then ended. Of those liabilities, $12,913,000 was deferred revenue tied to a sale of certain of PDI's revenue streams to a third party. Golden Opportunities Fund Inc., which holds security, was owed $833,000 in principal plus $263,552.16 in accrued interest as at 10 November 2015, and advanced interim financing of $250,000 against an authorized $650,000. The proceedings are closed.