Ontario · NOI

Minutes of Meeting of Creditors to Consider Proposal

Meeting materials · 2 June 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 filing1 verified

financial positionnote: Liabilities shown are only CRA deemed trust ($31,310) and the 1000393782 Ontario Inc. secured claim ($4,184,111); unsecured claims are not included. Trustee's Statement of Estimated Realization shows a shortfall to unsecured creditors of ($3,658,889) at book value. Creditors at the meeting (Lalit Rai) disputed the credibility of the asset and inventory figures and the validity of the 782 secured claim. · as at: 2023-03-28 · basis: Condensed schedule based on the Company's most recent internally prepared (unaudited) financial statements as at March 28, 2023 and discussions with the Director; Trustee has conducted neither an audit nor an investigation. Total assets figure is net book value (estimated net realizable value $92,446 low to $178,387 high). · scope: Single entity: Tanta Pharmaceuticals Inc. (the debtor company only) · currency: CAD · total assets: 556532 · total liabilities: 4215421