Alberta · NOI
Report of the Proposal Trustee
Court officer report · 18 September 2026
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: Ending cash per the variance analysis for the six-week Reporting Period ending September 11, 2026 (shown in $CAD 000's as 220); opening cash was 952. Interim financing of US$550,000 advanced by the Interim Lender is held by the Proposal Trustee in trust and has not been released to the Companies. · as at: 2026-09-11 · amount: 220000 · currency: CAD
- disbursementsnote: Actual total cash disbursements for the Reporting Period (shown as (833) in $CAD 000's), against a forecast of (1,394). · since: August 1, 2026 (start of the six-week Reporting Period ending September 11, 2026) · amount: 833000 · currency: CAD
- operational summaryThe Companies remain in possession of their specialized manufacturing assets under the NOI proceedings but are cash-constrained, since the interim financing is held in trust pending the appeal. On the current scenario they are forecast to run out of funds in the week ending September 25, 2026. Without funding or a stay extension, they would be deemed bankrupt on October 4, 2026.
- professional feesnote: Actual fees paid in the Reporting Period (CAD 000's): Debtor's Counsels' Fees 216, Proposal Trustee's Fees 143, Proposal Trustee's Counsels' Fees 58. The report states no combined total. The Updated CF Forecast projects a further 330 (CAD 000's) of professional fees over the next three weeks. Whether the figures exclude tax is not stated. · party: Debtor's counsel, Proposal Trustee, and Proposal Trustee's counsel · period: August 1, 2026 to September 11, 2026 · currency: CAD
- receipts cumulativenote: Actual total cash receipts for the Reporting Period (shown as 101 in $CAD 000's), consisting entirely of GST refunds; the forecast SR&ED receipt of 590 was not received due to a delay in the application submission. · since: August 1, 2026 (start of the six-week Reporting Period ending September 11, 2026) · amount: 101000 · currency: CAD
- report date18 September 2026
- sale outcometext: the Proposal Trustee expects greater recoveries could be achieved if an appropriate marketing, sale and restructuring process is implemented (through the proposed SISP or a version thereof) · scope: whole_business · status: process_approved