Vaultose Digital Asset Services Inc.

Vaultose Digital Asset Services Inc. is in bankruptcy in Ontario under the BIA, with MNP Ltd. as Licensed Insolvency Trustee under court file 31 - 3009324. The estate commenced on 10 November 2023. The Statement of Affairs, as stated and estimated by the officer as at that date, puts assets at $500,000.00 against liabilities of $1,093,758.29, with a reported deficiency of $593,758.29 and preferred creditors and contingent or trust liabilities each at nil. Eight secured claims, all given on 9 November 2023 over license costs, custom software and computer equipment, are listed, the largest being Babine Bessner Spry LLP's $500,000.00 claim against security estimated at $285,685.23. Several secured creditors are related parties, including Michael Caruso, the bankrupt's affiant and officer, and each secured creditor also appears on List A for the balance of its claim. The proceeding is active.