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Thursday, April 02, 2020 10:07:47 PM
This Proposal may be amended by the Debtor with the consent of the Trustee {i) at the meeting of
Creditors called to consider the same or any adjournment thereof, or (ii) at any time prior to and/or
thereafter, including after voting and approval by the Creditors but prior to the granting of an Order
of the Court approving the Proposal, provided that any such amendment shall not reduce the rights
and benefits given to the Creditors under the Proposal before any such amendment Any and all
10
amendments made in accordance with the tenns hereof shall be deemed to be effective as of the
date of the Proposal.
Signed at Toronto, Ontario, this 23n:1 day of November, 2018.
YAPPN CANADA INC.
Per:David Berry
(I have authority to bind the Corporation)
Here is the debt:
A summary of the classes of the Company's creditors listed on its SOA are set out below.
Secured Creditors
Category No. of creditors Amount (S)
Secured
Preferred
Unsecured
24
0
46
10,471,261
0
7,536,698
Around $18,000,000.00
Accounts receivable for the booming business Berry ran
Accounts Receivable
The Company has indicated on its SOA that there are accounts receivable of approximately
$34,625 which are owing to the Company from its customers, which the Company advises are
collectible in the ordinary course. This represents accounts receivable of USD$26,219 converted
to Canadian dollars at the Bank of Canada exchange rate of 1.3206 as at the close of November 9,
2018.
T
They spent $18Million to earn about $37,000.00. Not a very good businessman.
I thought some here were good at doing DD, all you have to do is put in search terms and voila! This interwebby thingy is pretty cool.
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