Ontario · Receivership (court-appointed)
Pre-Filing Report of the Proposed Receiver dated August 22, 2025
Pre-filing report · 22 August 2025
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What we verified from this filing2 verified
- financial positionnote: Points Inventory and offsetting Points Liability of C$20.5 million each excluded from presentation. Liabilities exceed assets by more than C$30 million; negative retained earnings of approximately C$155 million. · page: 4 · as at: 2025-04-30 · basis: Unaudited; Prepared by Management; book value · scope: Drop Technologies Inc. (Company, appears to be entity-level/combined presentation; consolidation basis not specified) · currency: CAD · total assets: 7484000 · total liabilities: 39653000
- secured creditorsnote: As of report date (August 22, 2025), amount stated as approximately US$7.3 million before interest and costs; balance sheet figure of C$9.4 million is as of April 30, 2025, before accrued interest and costs which continue to accrue · page: 5 · as of: 2025-04-30 · amount: 9416000 · debtor: Drop Technologies Inc. (with Drop Technologies USA Inc. and Drop Technologies ULC as secured guarantors) · creditor: National Bank of Canada · currency: CAD · security: NBC Facility; balance sheet reports C$9,416,000 (before accrued interest and costs) as of April 30, 2025