Quebec · CCAA
Third Report to the Court Submitted by Samson Bélair/Deloitte & Touche Inc. in its Capacity as Monitor
Court officer report · 16 December 2014
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- cash on handnote: Actual ending bank balance for the 9-week period ended December 14, 2014 (budget: $173,614); the projected balance falls to $2,690 by week ending January 18, 2015. · as at: 2014-12-14 · amount: 178111 · currency: CAD · qualifier: actual bank balance
- disbursementsnote: Total actual disbursements vs. budget of $526,386. · since: Initial Order (October 15, 2014) through December 14, 2014 (9-week period) · amount: 525981 · currency: CAD
- operational summaryThe Companies are continuing testing programs and discussions with potential clients toward a commercial agreement, are preparing materials to solicit investors, and have not yet secured additional DIP financing; operations are running at a lower level than anticipated and management has deferred pay to preserve liquidity.
- professional feesnote: Actual professional fees disbursed vs. budget of $175,000, an unfavorable variance of $93,498, attributed to timing and to fees for preparing investor-solicitation documents. Whether the figure includes tax is not stated. · party: Professional fees (party not specified in the report's cash flow statement) · amount: 268498 · period: 9-week period ended December 14, 2014 · currency: CAD
- receipts cumulativenote: Consists of DIP financing of $700,000 and other inflows of $4,092. · since: Initial Order (October 15, 2014) through December 14, 2014 (9-week period) · amount: 704092 · currency: CAD
- report date16 December 2014
- report noThird Report