Alberta · Receivership (court-appointed)
Affidavit of Brian Moskowitz
Affidavit · 12 March 2023
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 filing4 verified
- financial positionnote: Net and comprehensive losses for 2022 reported at ($12,929,980) compared to total revenue of $3,621,781; figures as summarized in Second Affidavit of Brian Moskowitz · page: 3 · as at: 2022-03-31 · basis: Radient Technology's most recent publicly available financial statements for fiscal year ended March 31, 2022, as described in affidavit · scope: Radient Technologies Inc. (consolidated) · currency: CAD · total assets: 27734541 · total liabilities: 37860320
- secured creditorsnote: Original facility was $5,500,000.00 term sheet dated May 2, 2018; interest accruing at per diem rate of $3,952.59; also holds Redemption Order Listing on the Lands with prescribed listing price of $11,340,000 and a Preservation Order via agent Avison Young · page: 3 · as of: 2023-03-08 · amount: 12067093.27 · debtor: 1631807 Alberta Ltd. and Radient Technologies Inc. · creditor: Moskowitz Capital Mortgage Fund II Inc. · currency: CAD · security: Mortgage on production facility and adjacent lands; General Security Agreements over present and after-acquired personal property (excluding consumer goods) of both debtors; unlimited guarantee of 1631807 (later Radient) under Term Sheet Amendment; second-ranking security in Radient's personal property (behind AFSC), first-ranking security in 1631807's personal property
- secured creditorsnote: 13 registrations against Radient's personal property registered subsequent to MCMF's; original loans of $750,000 (2011) and $250,000 (2012) per FS; loans in enforcement · page: 3 · debtor: Radient Technologies Inc. · creditor: Agricultural Financial Services Corporation (AFSC) · currency: CAD · security: First registered security interest in present and after-acquired personal property of Radient Technologies (May 16, 2011 registration); enforcement action/seizure registered January 10, 2022
- secured creditorsnote: Number and priority stated but no names or amounts given in this affidavit · page: 3 · debtor: 1631807 Alberta Ltd. and Radient Technologies Inc. · creditor: Various PPR registrants subsequent to MCMF (13 against Radient Technologies; 3 against 1631807 Alberta Ltd.) · currency: CAD · security: Subordinate PPR registrations