Ontario · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 10 December 2024
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What we verified from this filing2 verified
- financial positionnote: Document states 'Demand Power does not have any secured creditors' and that all liabilities are owed to unsecured creditors (also confirmed in Kimmel J. Endorsement, orig. p.49-50, and Kallop Affidavit, orig. p.65). An earlier snapshot in the Kallop Affidavit (orig. p.64-65) states assets of $122,110 (cash $57,963, A/R $61,147, other $3,000) and total unsecured indebtedness of approximately $188,605.77 (trade creditors ~$183,005.77; other payables ~$5,600) as at October 30, 2023. The Kimmel Endorsement (orig. p.49-50) also cites approximate liabilities of $180,000 (unsecured, applicant's understanding) and later assets of $122,110/liabilities of $188,605.77 as at October 30, 2023, differing from the Receiver's November 22, 2023 figures used above. · page: 7 · as at: 2023-11-22 · basis: book value (unaudited, per Receiver's First Report) · scope: Demand Power Group Inc. (entity-level, pre-filing) · currency: CAD · total assets: 90935 · total liabilities: 238121
- secured creditors