Ontario · NOI
Second Report of the Proposal Trustee - BDO Canada Limited - 12-FEB-2026
Court officer report · 12 February 2026
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What we verified from this filing12 verified
- closing confirmedscope: the Capillary Transactions · outcome: completed · purchaser: Capillary Technologies LLC / Capillary Pte. Ltd. · date basis: unstated
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: GST/HST · quote: $14,880.95 · amount: 14880.95 · fees: quote: The total legal fees (exclusive of disbursements and applicable taxes) billed by Dentons for the Billing Periods in connection with its role as counsel to the Proposal Trustee, are $114,442.80. · amount: 114442.8 · total: quote: $129,499.75 · amount: 129499.75 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: $ 176.00 · amount: 176 · period: end: 2026-01-31 · kind: cumulative · label: the Billing Periods · quote: issued in connection with its role as counsel to the Proposal Trustee for the period from March 1, 2025 to January 31, 2026 (the ' Billing Periods ') · start: 2025-03-01 · approval: state: unstated · averages: rate: 788.72 · quote: Average hourly rate = $788.72 · currency: code: CAD · quote: $ 66,690.79 CAD · invoices: tax: 7672.39 · date: 2025-04-03 · fees: 58992.4 · quote: 3929304 | April 3, 2025 | $58,992.40 | $26.00 | $7,672.39 | $66,690.79 · total: 66690.79 · disbursements: 26; tax: 4059.41 · date: 2025-05-07 · fees: 31226.2 · quote: 3938943 | May 7, 2025 | $31,226.20 | 0 | $4,059.41 | $35,285.61 · total: 35285.61 · disbursements: 0; tax: 137.28 · date: 2025-07-16 · fees: 1056 · quote: 260010207 | July 16, 2025 | $1,056.00 | 0 | $137.28 | $1,193.28 · total: 1193.28 · disbursements: 0; tax: 448.63 · date: 2025-10-14 · fees: 3451 · quote: 260030581 | October 14, 2025 | $3,451.00 | 0 | $448.63 | $3,899.63 · total: 3899.63 · disbursements: 0; tax: 803.82 · date: 2026-01-15 · fees: 6183.2 · quote: 260058383 | January 15, 2026 | $6,183.20 | 0 | $803.82 | $6,987.02 · total: 6987.02 · disbursements: 0; tax: 1759.42 · date: 2026-01-31 · fees: 13534 · quote: 260063731 | January 31, 2026 | $13,534.00 | $150.00 | $1,759.42 | $15,443.42 · total: 15443.42 · disbursements: 150 · firm text: Dentons Canada LLP · firm quote: I am a Partner with Dentons Canada LLP (' Dentons ') · hours total: quote: 145.10 hours at an average hourly rate of approximately $788.72 · value: 145.1 · context quote: counsel to BDO Canada Limited (' BDO ') in its capacity as the Proposal Trustee; form: time_summary · rows: Kenneth Kraft; Adrian Miedema; John Salmas; Mia Music; Birpal Benipal; Linda Fraser-Richardson · money: fees: quote: Total | Total | Total | 145.10 | $114,442.80 · amount: 114442.8 · approximate: false · period: end: 2026-01-31 · kind: cumulative · label: The Period · quote: The Period of March 1, 2025 to January 31, 2026 · start: 2025-03-01 · approval: state: unstated · averages: rate: 788.72 · quote: Average hourly rate = $788.72 · currency: code: CAD · quote: $ 66,690.79 CAD · invoices: · firm text: Dentons Canada LLP · firm quote: Dentons Canada LLP Timekeeper Summary · hours total: quote: Total | Total | Total | 145.10 | $114,442.80 · value: 145.1 · context quote: counsel to BDO Canada Limited (' BDO ') in its capacity as the Proposal Trustee
- financial positionnote: Figures reported in CAD $000's per table header; components shown separately for 'Kognitiv Corporation' and 'Subsidiary Entities' columns before consolidation; working capital deficit of approx. $42.0 million and accumulated deficit of approx. $332.1 million also noted. · as at: 2024-11-30 · basis: Consolidated (unaudited/internal) balance sheet, based on Company's internal records · scope: consolidated - Kognitiv Corporation and its subsidiary entities · currency: CAD · total assets: 67348000 · total liabilities: 90241000
- operational summaryKognitiv has completed its Sale Process (closing the Capillary Transactions) and settled its arbitration dispute with the Cora Group; the Company has no remaining employees and is now winding down the NOI Proceedings in anticipation of an assignment into bankruptcy.
- process resultsbids: 5 · note: figures from the First Report's account of the Sale Process · solicited: 24
- professional feesnote: Fees totalled $60,840 prior to applicable taxes for 126.5 hours; approved amount inclusive of taxes is $68,729.20. Dentons Canada LLP (Trustee's counsel) separately billed $114,442.80 plus $176.00 disbursements prior to tax, totalling $129,499.75 inclusive of taxes. · party: BDO Canada Limited, as Proposal Trustee · amount: 68729.2 · period: March 1, 2025 through to January 31, 2026 · currency: CAD
- purchaserCapillary Pte. Ltd.; Capillary Technologies LLC; price: sealed: false · scope: assets under the Capillary PSA · status: closed · name note: counterparty to the Capillary PSA, defined but text cut off before naming · structure: assets · name source: operative · relationship: unstated · agreement date: 2025-03-31
- recovery outcomeentries: basis: estimated · quote: The chart below provides an illustration of the funds on hand, anticipated proceeds, payments pursuant to the Administration Charge and the estimated Proposed Distribution to the Senior Secured Creditors who will incur a significant shortfall, as the Proposed Distribution is below their respective indebtedness: · pct of: unstated · outcome: shortfall · currency: CAD · class key: secured · stated by: proposal_trustee · class label: Senior Secured Creditors (Guines and Aimia) · interim final: unstated · currency quote: CAD · claims qualifier: unstated · stated on: 2026-02-12 · table missing:
- report date12 February 2026
- report noSecond Report
- sale advisorRoystone Capital
- sale outcometext: Sale Process completed and Capillary Transactions closed · scope: whole_business · status: closed