9139249 Canada Inc., NOI

9139249 Canada Inc., a Montreal, Quebec-based company which operates as “Bus.com”, filed an NOI on August 9, listing approximately $25 million in assets and $38 million in liabilities, including over $26 million to EDC.

Bus.com operates a turn-key online transportation booking service for individuals and businesses, as well as transportation routes to and from some of the world’s major airports, including notably LAX. The company’s clientele is mainly the Los Angeles World Airports authority and some major Canadian and American corporations.

Bus.com has experienced strong growth but has never managed to be profitable, with accumulated losses resulting in a deficit of more than $12 million. The company’s shareholders and lenders have decided not to invest further funds into the company. The purpose of the NOI filing is to conduct a SISP and obtain interim financing.

PwC is the proposal trustee.

Counsel is BLG for the company and Fasken for EDC. EY is EDC’s financial advisor.