Ontario · NOI
Second Report of the Proposal Trustee
Court officer report · 2 August 2024
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What we verified from this filing8 verified
- cash on handnote: Ending cash balance as at end of Reporting Period per actuals column · as at: 2024-07-26 · amount: 31146 · currency: CAD
- disbursementsnote: Total outflows for the Reporting Period May 24, 2024 to July 26, 2024 · since: May 24, 2024 (NOI Filing Date) · amount: 1301607 · currency: CAD
- financial positionnote: Assets: 'the book value of the assets of Shiny Bud after depreciation and amortization, is approximately $2,250,223'; Liabilities: 'Shiny Bud owes to its creditors, in the aggregate, approximately $14.1 million'; both as at the NOI Filing Date (May 24, 2024). This data is from the First Kipp Affidavit (Appendix B), not the Second Report itself. · basis: book value (assets, after depreciation and amortization); books and records (liabilities) · scope: entity - Shiny Bud Inc. · currency: CAD · total assets: 2250223 · total liabilities: 14100000
- operational summaryThe proposal trustee ran a Sale Process that received no satisfactory bids and was terminated; the company is now negotiating a share subscription/credit bid agreement with its secured DIP lender Evergreen, contemplating a reverse vesting order, while continuing store-level operations under the extended proposal period.
- professional feesnote: Reported as a cash flow outflow category (actuals), not broken out by specific professional; forecast for same period was $169,500 · party: Professional fees (unspecified professionals, cash outflow line item, actuals) · amount: 116275 · period: May 24, 2024 to July 26, 2024 · currency: CAD
- receipts cumulativenote: Total inflows for the Reporting Period May 24, 2024 to July 26, 2024 · since: May 24, 2024 (NOI Filing Date) · amount: 865711 · currency: CAD
- report date2 August 2024
- report noSecond Report