Calgary's Poynt Files for Bankruptcy

Posted by Knowlton Thomas

Calgary-based mobile app Poynt, which said in May it expected to triple its userbase in 2012 to 40 million, has filed for bankruptcy.

Poynt Corporation announced that today it has filed with the Office of the Superintendent of Bankruptcy, a Notice of Intention to File a Proposal under the Bankruptcy and Insolvency Act Canada. As a consequence of such filing, any and all recourses of the Company's creditors are stayed for an initial period of 30 days, which may be extended by the Court of Queen's Bench of Alberta.

Poynt says that it is "not currently in a position to meet the obligations owing to its secured and unsecured creditors and as such, has taken this action under the BIA as the most expeditious and economical manner of addressing the interests of its creditors and allowing it to carry on its operations."

In addition, the Canadian company announced that David Lucatch resigned from his position on its board of directors.

Company:
Poynt
Website:
http://www.poynt.com
Location:
Calgary, Alberta, Canada

At last, an easy to-use, all-in-one tool to connect you with local businesses, retailers and events while you’re on the go. From inspiration to action, Poynt helps transform the mobile device from an everyday communication tool to a powerful entertainment and utility tool. Poynt is available for BlackBerry smartphones, Android, iPhone and iPod Touch, Windows Phone 7 and Nokia Qt devices. Poynt is available in... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis or otherwise enjoying the outdoors. more



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