British Columbia · NOI
Proposal Trustee's Second Report to Court dated June 21, 2025
Court officer report · 21 June 2025
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: Closing cash per the Actual Cash Flows table for April 20 - June 14, 2025 (projected closing cash was $388,815); the report states the Company had $156K less cash than projected as at June 14, 2025. · as at: 2025-06-14 · amount: 230898 · currency: CAD
- disbursementsnote: Total actual disbursements for the period versus $2,797,276 projected. · since: April 20, 2025 (through June 14, 2025) · amount: 2193975 · currency: CAD
- operational summaryThe Company continues to operate its logging business under NOI protection, funded by interim financing. Revenue lagged forecast because of staffing and equipment delays, which management says are largely resolved. It is projected to have sufficient funds through the proposed stay extension to August 11, 2025.
- professional feesnote: Actual professional fees paid in the cash flow table, versus $216,500 projected; no tax treatment stated. The $150,000 Administration Charge secures the collective fees of these professionals. · party: Fees paid to the Company's legal counsel, the Proposal Trustee and the Proposal Trustee's legal counsel (combined) · amount: 95865 · period: April 20 - June 14, 2025 · currency: CAD
- receipts cumulativenote: Total actual cash inflows (logging revenue $1,523,163, GST receivable $76,061, DIP financing $765,000) versus $3,226,101 projected. About $278K more in revenue was collected in the week ending June 22, 2025, which is not captured in this figure. · since: April 20, 2025 (through June 14, 2025) · amount: 2447301 · currency: CAD
- report date21 June 2025
- report noSecond Report