Ontario · CCAA
Supplement to the First Report of the Monitor with Appendices dated June 3, 2025
Court officer report · 3 June 2025
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What we verified from this filing4 verified
- cash on handnote: Debtor's own reported cash balance from 'actuals' period (Oct 2024-Mar 2025); Monitor separately notes the Debtor's internally prepared balance sheet appears inaccurate given RBC's higher indebtedness figures. · as at: 2025-03-31 · amount: 33374 · currency: CAD
- operational summaryThe Monitor found the Debtor failed to provide critical financial records, uncovered a large unreconciled variance between expected and actual receivable collections, and determined the Debtor's cash flow needs (~$285,000/week) vastly exceed the $50,000 available under the May 26 Order, raising serious doubt about the Debtor's ability to continue operating through the June 19, 2025 hearing.
- report date3 June 2025
- report noFirst Report Supplement