Ontario · Receivership (court-appointed)
Pre-Filing Report of the Proposed Receiver dated May 4, 2026
Pre-filing report · 4 May 2026
Also filed as: Pre-Filing Report of the Proposed Receiver dated May 4, 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing15 verified
- secured creditorsnote: Amount stated in prose as $22.3 million; balance sheet as at Feb 28, 2026 shows $22,982,000 (in thousands) net of Companies' cash, per footnote 2 · page: 3 · as of: 2026-04-17 · amount: 22300000 · debtor: Mara Technologies Inc. and Mara Technologies USA Inc. (guaranteed by Invotek Group Inc. and Invotek Group USA Inc.) · creditor: Frontwell Capital Partners · currency: CAD · security: First ranking security interest in substantially all assets (excluding equipment) of the Mara Companies; second ranking interest in equipment subject to XOB and EDC prior ranking security interests; revolving loan limit of $45 million (facility limit, not a balance)
- financial positionnote: Total equity is negative $8,301,000 (deficit); figures presented in thousands ($000s) per table header; Frontwell debt presented net of Companies' cash per footnote · page: 7 · as at: 2026-02-28 · basis: Unaudited consolidated balance sheet, book value · scope: Consolidated - Mara Technologies Inc., Mara Technologies USA Inc., Invotek Group Inc., and Invotek Group USA Inc. · currency: CAD · total assets: 109088000 · total liabilities: 117389000
- secured creditorsnote: Related party: XOB is non-arm's length to management of the Companies; balance sheet shows current portion $539,000 and long-term $690,000 (in thousands) as at Feb 28, 2026, but document does not state a consolidated total balance in prose · page: 10 · debtor: Mara Technologies Inc. · creditor: XOBPGC Holdings Inc. (XOB) · currency: CAD · security: First ranking security interest in Companies' equipment in Canada; third ranking security interest over collateral in which Frontwell has first ranking security; no security interest over US equipment; underlying BMO Facilities comprise Master Equipment Leasing Facility of $2.1M and corporate credit card facility of $100,000 (facility limits, not balances)
- secured creditorspage: 10 · as of: 2026-02-28 · amount: 36700000 · debtor: Mara Technologies USA Inc. · creditor: Export Development Canada (EDC) · currency: CAD · security: First ranking security in all equipment of Mara US; second ranking security interest in substantially all other assets of the Mara Companies; maximum borrowing limit of US$21 million plus US$8.6 million equipment financing addition (facility limits, not balances)
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 2200000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: Arrow Electronics Inc. · currency: CAD
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 1881000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: TTI, Inc. · currency: CAD
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 1721000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: Fu Chia Electronic Co., Ltd. · currency: CAD
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 1288000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: Minntronix, Inc. · currency: CAD
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 948000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: Sunshine PCB (HK) Co., Limited · currency: CAD
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 764000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: Dig-Key · currency: CAD
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 662000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: MACOM Technology Solutions Limited · currency: CAD
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 650000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: AVNET Electronics Marketing · currency: CAD
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 638000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: Telit IoT Products Inc. · currency: CAD
- unsecured creditorsnote: Document states total of ten largest plus all others is $25,635,000; individual vendors beyond the top ten are not named · page: 11 · basis: Aggregate of remaining vendors not individually named, as reported · amount: 12443000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: All others (representing approximately 250 vendors) · currency: CAD
- unsecured creditorspage: 11 · basis: Ten largest vendors by outstanding balance, as reported · amount: 2440000 · debtor: Mara Technologies Inc. / Mara Technologies USA Inc. · creditor: RFMW Ltd. · currency: CAD