Alberta · CCAA
Affidavit of Jon Gilbert (Part 2)
Affidavit · 28 November 2022
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 filing3 verified
- financial positionnote: Auditor's report is a disclaimer of opinion, not a clean audit; equity of $42,459 (2020) reconciles assets less liabilities; comparative 2019 figures (total assets $242,493 / total liabilities $217,746) also shown but not used here · page: 10 · as at: 2020-12-31 · basis: Combined financial statements prepared in accordance with IFRS; independent auditor (MNP LLP) issued a Disclaimer of Opinion because it could not obtain sufficient appropriate audit evidence regarding the impact of CRA proposal letters and ongoing CRA audits on income tax provisions (Note 20) · scope: Combined - Midnight Sun Financial (the 'Group', combined entities) · currency: CAD · total assets: 189713 · total liabilities: 147254
- secured creditorsnote: Non-interest bearing demand promissory note; balance unchanged from 2019 ($3,575); other notes payable of the Group (associated with redeemable preferred shares, to Arla Acquisition Corp., to Sentinel Investments Inc.) are explicitly unsecured · page: 24 · as of: 2020-12-31 · amount: 3575 · debtor: Midnight Sun Financial (Mod Panel Group business) · creditor: Previous shareholders of the Mod Panel Group · currency: CAD · security: General security agreement covering the assets of the Mod Panel Group
- secured creditorsnote: CRA Complex Case Officer collections letter threatening to 'seize and sell your assets, or use any other legal means to collect the amount due'; specific balance owing not stated on the page provided; deemed-trust/regulatory class claim · page: 27 · debtor: Taxpayer, Acct No. 70697 5729 RC0001 · creditor: Canada Revenue Agency · currency: CAD