British Columbia · CCAA
Eighth Report of the Monitor
Court officer report · 10 November 2023
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 cash flow variance table is $24 (CAD thousands) against a forecast of $5 thousand. · as at: 2023-11-12 · amount: 24000 · currency: CAD · qualifier: approximately
- disbursementsnote: Total Disbursements actual $1,096 thousand (CAD thousands) vs forecast $1,385 thousand, a favourable variance of $289 thousand. · since: commencement of proceedings, to November 12, 2023 (seventy-six week period) · amount: 1096000 · currency: CAD
- operational summaryThe Company has no operating revenue and is funded by DIP financing while pursuing a sale of its Wapiti shares or an interest in the Murray River Project via a purchaser letter of intent, with no binding agreement yet. It has two employees and is seeking a short stay extension to December 8, 2023.
- professional feesnote: Actual professional fees disbursed of $812 thousand (CAD thousands) vs forecast $981 thousand. Separately, approximately $103,000 ($103,218) is currently outstanding: $81,345 Company's legal counsel, $16,614 Monitor, $5,259 Monitor's legal counsel. Tax treatment not stated. · party: Company's legal counsel, the Monitor and Monitor's legal counsel (aggregate professional fees disbursed) · amount: 812000 · period: since commencement of proceedings to November 12, 2023 (seventy-six week period) · currency: CAD
- receipts cumulativenote: Total Receipts actual 0; the Company is not expected to have any operating revenue during the CCAA Proceedings. DIP financing draws of $1,120 thousand are shown separately from receipts. · since: commencement of proceedings, to November 12, 2023 (seventy-six week period) · amount: 0 · currency: CAD
- report date10 November 2023
- report noEighth Report