Ontario · NOI
Second Report to the Court (NOI extension).pdf
Court officer report · 19 May 2017
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 filing11 verified
- courtSUPERIOR COURT OF JUSTICE IN BANKRUPTCY AND INSOLVENCY
- court file no35-2227642
- provinceONTARIO
- commencement date13 March 2017
- cash on handnote: Actual closing cash balance for the nine weeks ended May 14, 2017, per the Appendix B comparison of projection to actuals (projected closing balance was $187,750) · as at: 2017-05-14 · amount: 90421 · currency: CAD
- disbursementsnote: Actual total cash disbursements per Appendix B comparison; projected was $218,500 · since: nine weeks ended May 14, 2017 (cash flow period following the NOI filing) · amount: 326364 · currency: CAD
- operational summaryThe Company has continued operating post-NOI, completing new sales and custom projects while cutting costs and terminating 8 employees. Attempts to sell the DVD division as a going concern failed, so it plans a retail liquidation sale of that division's inventory starting early June 2017. It seeks a further 45-day stay extension to July 11, 2017.
- professional feesnote: Actual professional fees disbursed per Appendix B (projected $19,775); whether tax is included is not stated · party: Not specified; professional fees disbursed by the Company (not broken out by party) · amount: 11300 · period: nine weeks ended May 14, 2017 · currency: CAD
- receipts cumulativenote: Actual cash receipts (sales) per Appendix B comparison; projected was $382,250 and no accounts-receivable collections were reported in actuals · since: nine weeks ended May 14, 2017 (cash flow period following the NOI filing) · amount: 392785 · currency: CAD
- report date19 May 2017
- report noSecond Report