On December 22, 2023, msi Spergel inc. ("Spergel") was appointed as receiver (in such capacity, the "Receiver") of the assets, undertakings and properties of Avida 2015, Inc. ("Avida" or the "Company") pursuant to the General Security Agreement dated December 11, 2020 held by Bank of Montreal ("BMO").

On February 24, 2024, amongst other things, the appointment of Spergel as the Receiver of the Company was confirmed by the Order of The Honourable Justice Steele of the Ontario Superior Court of Justice (Commercial List).

Further on March 4, 2024, pursuant to the Order of The Honourable Associate Justice Ilchenko of the Ontario Superior Court of Justice (In Bankruptcy and Insolvency) Avida was adjudged bankrupt.

The Company was primarily engaged in the business of providing scalable, turnkey digital signage and experiential solutions for brick-and-mortar retailers.

Chaitons LLP is counsel for BMO.