Quebec · NOI
First Report of the Proposal Trustee on the State of Petitioners’ Business and Financial Affaires dated April 30, 2025
Court officer report · 30 April 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 filing6 verified
- financial positionnote: Shareholders' equity deficit of $(17,279) thousand reflected; liabilities significantly exceed assets per Trustee's observation (para 19) · page: 4 · as at: 2024-09-30 · basis: unaudited · scope: entity - Mobi724 Global Solutions Inc. · currency: CAD · total assets: 935000 · total liabilities: 18215000
- secured creditorspage: 5 · as of: NOI filing date · amount: 1900000 · debtor: Mobi724 Global Solutions Inc. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: First ranking hypothec on intellectual property (IP); second ranking hypothec on moveable property; hypothec registered for $1.2 million
- secured creditorspage: 5 · as of: NOI filing date · amount: 3200000 · debtor: Mobi724 Global Solutions Inc. · creditor: Investissement Québec (IQ) - secured debenture · currency: CAD · security: First ranking secured lender on moveable property; second ranking on IP; hypothec registered for $2.76 million; secured debenture
- secured creditorspage: 5 · as of: NOI filing date · amount: 600000 · debtor: Mobi724 Global Solutions Inc. · creditor: Investissement Québec (IQ) - Innovation program · currency: CAD · security: First ranking secured lender on moveable property; second ranking on IP (per IQ ranking); hypothec registered for $1.0 million
- secured creditorspage: 5 · as of: NOI filing date · amount: 400000 · debtor: Mobi724 Global Solutions Inc. · creditor: R&D Capital Inc. · currency: CAD · security: First ranking secured lender on research and development tax credits; hypothec registered for $0.2 million
- secured creditorsnote: Deemed trust class priority claim; combined figure for Revenue Canada and Revenu Québec, not broken out individually; Debtor estimates offsetting tax credits will reduce balance to approximately $140K · page: 5 · as of: NOI filing date · amount: 700000 · debtor: Mobi724 Global Solutions Inc. · creditor: Revenue Canada and Revenu Québec · currency: CAD · security: Priority claim for unremitted deductions at source