British Columbia · CCAA
Affidavit #1 of Reid Ogdon sworn November 22, 2022
Affidavit · 22 November 2022
A plain-language read of this filing opens with a subscription.
What we verified from this filing8 verified
- financial positionnote: Lightbox has not prepared any audited or unaudited financial statements in the last 12 months; figures taken from draft Balance Sheet (Exhibit D) · page: 6 · as at: 2022-07-31 · basis: draft balance sheet, unaudited, subject to further fiscal year-end adjustments and closing entries · scope: Lightbox Enterprises Ltd. entity-level (not stated as consolidated with subsidiary LLH) · currency: CAD · total assets: 9492821.65 · total liabilities: 12477870.91
- secured creditorsnote: Debenture matured July 13, 2022; ranks pari passu with Sundial per Intercreditor Agreement; Melville issued default notice in May 2022; combined Sundial+Melville debt described in prose as 'approximately $9,000,000' (para 12) - not summed here · page: 9 · as of: 2022-07-31 · amount: 5650000 · debtor: Lightbox Enterprises Ltd. · creditor: George Melville Holdings Limited · currency: CAD · security: General security agreement and share pledge agreement dated July 13, 2020; secured convertible debenture, principal $5,650,000
- secured creditorsnote: Related party security (mortgage is on property owned by a party related to Lightbox, not Lightbox's own asset) · page: 9 · as of: 2022-07-31 · amount: 2000000 · debtor: Lightbox Enterprises Ltd. · creditor: Milan Trpin · currency: CAD · security: Mortgage against real property owned by a related party to Lightbox, securing a $2,000,000 line of credit
- secured creditorsnote: Secures amounts due under a corporate credit card; balance not stated · page: 9 · debtor: Lightbox Enterprises Ltd. · creditor: Bank of Montreal (BMO) · currency: CAD · security: Security interest in cash collateral in a Lightbox bank account
- secured creditorsnote: Debenture matured October 26, 2021; ranks pari passu with Melville per Intercreditor Agreement dated April 26, 2021; Sundial issued default notice (May 2022) and BIA s.244(1) demand/notice of intent to enforce security on October 17, 2022; combined Sundial+Melville debt described in prose as 'approximately $9,000,000' (para 12) - not summed here per component reporting · page: 9 · as of: 2022-07-31 · amount: 3000000 · debtor: Lightbox Enterprises Ltd. · creditor: Sundial Growers Inc. · currency: CAD · security: General security agreement and share pledge agreement dated April 26, 2021; secured convertible debenture, principal $3,000,000
- secured creditorsnote: Registrant: Zeemac Vehicle Lease Ltd.; amount not stated · page: 10 · debtor: Lightbox Enterprises Ltd. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Security interest in two vehicles leased by Lightbox for cannabis delivery operations
- secured creditorsnote: Outstanding sales taxes owed to CRA; quasi-governmental/deemed-trust class claim · page: 10 · amount: 160670.37 · debtor: Lightbox Enterprises Ltd. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Amount not stated · page: 10 · debtor: Lightbox Enterprises Ltd. · creditor: Robson Promenade Holdings Ltd. · currency: CAD · security: Security interest in the lease deposit paid by Lightbox for its Robson Street, Vancouver retail location