Two filings Debtor's financial statements
At the time of filing the initial application with the Court, the debtor company is required to provide a projected cash-flow statement. It is also required to provide the Court with copies of all financial statements for the year prior to the application. If no financial statements were prepared the previous year, the debtor company must provide a copy of the most recent statement.
The Plan of Compromise or Arrangement
A Plan of Compromise or Arrangement is a proposal the company presents to its creditors on how it will deal with the debts it owes as of the date of filing. Where applicable, it also explains how the company plans to restructure its business and operations. Typically, plans offer to pay a percentage on the amount owed, or exchange debt for shares in the company, or a combination of the two. There are no statutory restrictions on the structure or content of the Plan.
-------------------------------
The first one above allows for Futura to prepare a cash flow statement. It is hoped the company can be made profitable to avoid negative cash flows. Otherwise what's the point of continuing. Futura already filed a projected cash flow statement.
The second filing within 30 days, details how the company intends to deal with creditors, restructure the business, etc.
Saying the above, it's still a battle out in the business world. Having good intentions to be profitable is not enough if business circumstances don't easily allow for it. The loyalty industry is fiercely competitive and mature. To carve out more out of the pie, will take money and creative salesmenship.