Nova Scotia · NOI
Second Report of the Proposal Trustee
Court officer report · 25 August 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing12 verified
- financial positionnote: Shareholders' deficiency of approximately $699,597 (current assets ~$1.97M, current liabilities ~$2.79M). A separate standalone (entity-by-entity, not consolidated) presentation as at May 31, 2026 is also given in Table 2: Allumiqs Corp. total assets $3,720,472 and Allumiqs Solutions total assets $3,038,366 (trustee-adjusted to approx. $2,838,172 combined before further discounts); total liabilities per internal records: Corp $4,003,311 and Solutions $3,272,970 (combined $7,276,281 before claims review, no liability adjustment made). · page: 8 · as at: 2026-06-30 · basis: internally prepared, management-prepared, unaudited consolidated balance sheet; external audit/review/compilation statements not yet issued · scope: consolidated - Allumiqs Corp. and Allumiqs Solutions Inc. · currency: CAD · total assets: 6370000 · total liabilities: 7070000
- secured creditorsnote: PPSA registration; part of preliminary secured creditor registration map, not a final priority opinion · page: 24 · as of: registration date Feb. 13, 2024 · debtor: Allumiqs Corporation · creditor: Services Financiers De Lage Landen Canada Inc. · currency: CAD · security: Medical equipment, including parts, accessories, replacements, additions, accessions, software, documentation and manuals; reference 789575002 / ONDLL1F79259-1 / 11655772
- secured creditorsnote: Serialized equipment registration · page: 24 · as of: registration date Feb. 2, 2024 · debtor: Allumiqs Solutions · creditor: Bank of Montreal / Banque de Montréal · currency: CAD · security: SP100 Automation Instrument, serial number G963 (data analysis machine), together with proceeds, insurance, replacements, records and related rights
- secured creditorsnote: Also holds operating facility with existing credit limit of $600,000 for Solutions; BMO ceded rank to Investissement Québec in respect of universality of present and future tax credits · page: 24 · as of: registration date May 30, 2024 · debtor: Allumiqs Solutions · creditor: Bank of Montreal / Banque de Montréal · currency: CAD · security: All present and future stock/inventory and all present and future claims/receivables, including accounts, contractual rights, deposits, sale proceeds, insurance proceeds, customer lists and related records
- secured creditorsnote: BMO ceded rank to IQ in respect of universality of present and future tax credits; IQ asserts security position over segregated SR&ED proceeds held by counsel · page: 24 · as of: registration date Aug. 12, 2024 · debtor: Allumiqs Solutions · creditor: Investissement Québec · currency: CAD · security: Universality of present and future claims, including present and future tax credits
- unsecured creditorsnote: Unsecured lender per Appendix A notes; CED effected set-off via CRA against SR&ED claim; leaving $67,280.40 held in trust pending Court direction due to IQ's asserted security position · page: 24 · as of: as of set-off effected against processed federal SR&ED claim of $272,273.00 · basis: Trustee's report describing CED's asserted set-off against federal SR&ED refund · amount: 204992.6 · debtor: Allumiqs Solutions · creditor: Canada Economic Development for Quebec Regions (CED) · currency: CAD
- secured creditorsnote: Post-filing DIP financing facility (not pre-filing debt); related party: 4833651 Nova Scotia Limited incorporated July 9, 2026 with Michael Mailman (Interim CEO) as director/president/secretary; Shawn Weadock is a significant shareholder of Allumiqs Corp.; facility amount is the facility limit, not an outstanding balance · page: 25 · as of: DIP term sheet, revised · amount: 550000 · debtor: Allumiqs Corporation and Allumiqs Solutions Inc. · creditor: DIP Lender (4833651 Nova Scotia Limited and Shawn Weadock) · currency: CAD · security: DIP Charge in maximum amount of $600,000, proposed to rank ahead of existing security except Administration Charge
- secured creditorsnote: Nova Scotia PPSA registration; blanket all-property registrant · page: 25 · as of: registration date June 8, 2023 · debtor: Allumiqs Corp. · creditor: Business Development Bank of Canada · currency: CAD · security: All present and after-acquired personal property
- secured creditorsnote: Second, broader IQ registration · page: 25 · as of: registration date Mar. 30, 2026 · debtor: Allumiqs Solutions · creditor: Investissement Québec · currency: CAD · security: Universality of present and future movable property, corporeal and incorporeal, wherever situated
- secured creditorsnote: Related party: Dr. Smith described in Mailman affidavit as one of the largest secured creditors of Allumiqs Corp.; individual guarantor/secured party rather than institution; also previously retained the Interim CEO as special advisor to the Board · page: 25 · as of: registration date June 2, 2026 · debtor: Allumiqs Corp. · creditor: Andrew Neil Smith (Dr. A. Neil Smith) · currency: CAD · security: All of the Debtor's present and after-acquired personal property
- sale outcometext: SISP bidding procedures proposed for Court approval, process ongoing · scope: whole_business · status: process_approved
- stalking horsestate: stated_none