Ontario · Winding-up (provincial)
First Report of the Liquidator
Court officer report · 21 January 2026
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What we verified from this filing4 verified
- financial positionnote: Document reports components rather than totals. Assets: cash of approximately $10.5 million (transferred to Liquidator's trust account) and potential tax refunds of approximately $5.3 million (HST and corporate income tax), plus nominal prepaid expenses and fully depreciated IT assets; not summed by the document. Liabilities: trade creditors approximately $203,000, Liquidator's anticipated total liabilities in the order of magnitude of approximately $4.9 million, and contingent claims with maximum potential exposure of approximately $3.3 million; not summed by the document. The Liquidator concluded the Company is solvent and has sufficient assets to satisfy all of its liabilities. · page: 10 · as at: 2025-12-31 · basis: Unaudited, draft and/or internal financial information of the Company; Liquidator's review of books and records and estimates; no GAAS-level audit or review performed · scope: ONxpress Operations Inc. (single entity, non-consolidated) · currency: CAD
- unsecured creditorsnote: Aggregate figure only; document names no individual creditors. · page: 11 · as of: 2025-12-31 · basis: Based on the Company's books and records - amount owing to trade creditors · amount: 203000 · debtor: ONxpress Operations Inc. · creditor: Trade creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Stated as an 'order of magnitude' estimate encompassing normal course operating liabilities, amounts owing to consultants, and professional fees associated with the liquidation; broader than the $203,000 trade creditor figure and not additive to it per the document. Estimate/forecast, not a precise balance. · page: 11 · as of: 2025-12-31 · basis: Liquidator's review of the Company's financial statements, cash flow forecasts and preliminary review of ongoing contracts · amount: 4900000 · debtor: ONxpress Operations Inc. · creditor: Unsecured creditors (Liquidator's anticipated total liabilities, aggregate as reported) · currency: CAD
- unsecured creditorsnote: Contingent/unliquidated claims, including potential employee claims arising from terminations and a claim advanced by a former employee under the Human Rights Tribunal of Ontario (Oycelyn (Nicole) Williams, HRTO File No. 2024-55448-I); figure is a maximum-exposure forecast estimate, not a liquidated liability. · page: 11 · as of: 2025-12-31 · basis: Liquidator's estimate of maximum potential exposure to contingent claims identified in the affidavit of Shaw sworn January 13, 2026 · amount: 3300000 · debtor: ONxpress Operations Inc. · creditor: Contingent claims (employee termination claims and HRTO claim) · currency: CAD