Ontario · Bankruptcy
Notice of Bankruptcy and First Meeting of Creditors, including Creditor’s Package
Notice to creditors · 7 December 2022
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What we verified from this filing26 verified
- appointeeGoldhar & Associates Ltd.
- appointee roletrustee
- commencement date7 December 2022
- court file no31-2891692
- provinceOntario
- statutory basissection 49 of the Bankruptcy and Insolvency Act
- financial positionnote: Summary page (PDF p.3): total unsecured creditors $10,234,473.46 (List A $10,234,471.46 + balance of secured claims List B $2.00), secured creditors List B $1.00 (nominal), preferred creditors List C $0.00 (none), contingent/trust List D $1.00 (nominal deemed trust). Total liabilities $10,234,475.46; deficiency $10,234,474.46. Total assets stated at $1.00 (nominal - only asset is CIBC business bank account). Amount of subscribed capital $100.00, paid on capital $100.00. Bankruptcy assignment filed 2022-12-07 (date of bankruptcy per Certificate 2022-12-07 07:14); SOA states affairs as at 2022-12-06. · page: 3 · as at: 2022-12-06 · basis: Form 78 Statement of Affairs (Business Bankruptcy), as stated and estimated by the officer (Jean Belanger), sworn/solemnly declared · scope: Single entity - Cerebri AI Corporation · currency: CAD · total assets: 1 · total liabilities: 10234475.46
- unsecured creditorsnote: WSIB; amount stated as nominal $1.00. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 1 · debtor: Cerebri AI Corporation · creditor: Workplace Safety and Insurance Board · currency: CAD
- unsecured creditorsnote: MBAN 6090. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 30213.53 · debtor: Cerebri AI Corporation · creditor: York University (Attn: Victoria Chu) · currency: CAD
- unsecured creditorsnote: Shareholder Loan; related party (shareholder/affiliate); creditor address 3267 Bee Caves Rd, Austin TX USA. Total claim $7,665,565.58. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 7665565.58 · debtor: Cerebri AI Corporation · creditor: Cerebri AI Inc (Attn: Jean Belanger) · currency: CAD
- unsecured creditorsnote: CEBA loan. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 60000 · debtor: Cerebri AI Corporation · creditor: CIBC Bankruptcies c/o TECHCOM Managed Services (CEBA Loan) · currency: CAD
- unsecured creditorspage: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 4298.73 · debtor: Cerebri AI Corporation · creditor: Corp Events IntCan Inc (Attn: Brandon Charbo) · currency: CAD
- unsecured creditorsnote: CRA payroll source-deduction account (deemed-trust class). Also listed as secured (List B #1, $1.00) and as a Deemed Trust Claim (List D, $1.00) - cross-referenced. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 1543703.13 · debtor: Cerebri AI Corporation · creditor: CRA - Tax - Ontario (73846 5491 RP0001) · currency: CAD
- unsecured creditorsnote: GST/HST account (RT); amount stated as nominal $1.00. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 1 · debtor: Cerebri AI Corporation · creditor: CRA - Tax - Ontario (73846 5491 RT0001) · currency: CAD
- unsecured creditorsnote: Corporate income tax account (RC); amount stated as nominal $1.00. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 1 · debtor: Cerebri AI Corporation · creditor: CRA - Toronto North Tax Services Office (73846 5491 RC0001) · currency: CAD
- unsecured creditorspage: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 8564.7 · debtor: Cerebri AI Corporation · creditor: Cumming & Partners (Attn: Nadeen Ahamad) · currency: CAD
- unsecured creditorsnote: Amount stated as nominal $1.00; balance of claim $1.00, total claim $2.00. Also listed as secured (List B #2) - cross-referenced. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 1 · debtor: Cerebri AI Corporation · creditor: Fundthrough · currency: CAD
- unsecured creditorsnote: MS Licence Ref # 5530105; creditor address Sherman Oaks CA USA. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 780046.9 · debtor: Cerebri AI Corporation · creditor: Microsoft Corporation (c/o Caine Weiner Company Inc, Collection Agency) · currency: CAD
- unsecured creditorsnote: Provincial tax (regulatory/deemed-trust class). Balance of claim $1.00, total claim $75,347.48. Also listed as secured (List B #3, $1.00) - cross-referenced. · page: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 75346.48 · debtor: Cerebri AI Corporation · creditor: Ministry of Finance - ON PST, EHT & Other Taxes (73846 5491TE0001) · currency: CAD
- unsecured creditorspage: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 17656.25 · debtor: Cerebri AI Corporation · creditor: Mitacs Inc · currency: CAD
- unsecured creditorspage: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 42675.34 · debtor: Cerebri AI Corporation · creditor: Motion Recruitment · currency: CAD
- unsecured creditorspage: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 5761.98 · debtor: Cerebri AI Corporation · creditor: RedElastics · currency: CAD
- unsecured creditorspage: 4 · as of: 2022-12-06 · basis: Form 78 Statement of Affairs List A, as stated and estimated by the officer · amount: 634.84 · debtor: Cerebri AI Corporation · creditor: Security Management Systems · currency: CAD
- secured creditorsnote: List B #1 (Secured). Amount of claim stated as nominal $1.00. Deemed-trust / source-deduction (payroll) account. Same RP0001 account also appears in List A #4 as unsecured $1,543,703.13 and in List D as a Deemed Trust Claim ($1.00) - cross-referenced, do not double-count. · page: 5 · as of: 2022-12-06 · amount: 1 · debtor: Cerebri AI Corporation · creditor: CRA - Tax - Ontario (73846 5491 RP0001) · currency: CAD · security: Cash on Hand - Business Acct for Plans - 36 57612 04902 - CIBC; estimated value of security $1.00
- secured creditorsnote: List B #3 (Secured). Amount stated as nominal $1.00; provincial tax (regulatory/deemed-trust class). Same party also in List A #10 as unsecured $75,346.48 (total claim $75,347.48) - cross-referenced. · page: 5 · as of: 2022-12-06 · amount: 1 · debtor: Cerebri AI Corporation · creditor: Ministry of Finance - ON PST, EHT & Other Taxes (73846 5491TE0001) · currency: CAD · security: Cash on Hand - Business Acct for Plans - 36 57612 04902 - CIBC; estimated value of security $0.00; balance of claim $1.00
- secured creditorsnote: List B #2 (Secured). Amount stated as nominal $1.00; estimated security value $0.00 with $1.00 unsecured shortfall. Same party also in List A #8 as unsecured $1.00 (total claim $2.00) - cross-referenced. · page: 5 · as of: 2022-12-06 · amount: 1 · debtor: Cerebri AI Corporation · creditor: Fundthrough · currency: CAD · security: Cash on Hand - Business Acct for Plans - 36 57612 04902 - CIBC; estimated value of security $0.00; balance of claim $1.00