RE:3rd Quarter earnings report due soon?Bob, my guess is no: we won't see any 3Q financials, in the near future. But let's see what happens.
LTS filed under CCAA, whereas TBE was under the BIA. The LTS board (rightly or wrongly), is still trying to salvage the company, and keep their jobs. The TBE board just threw the keys to the bank, and doesn't want anything to do with the company, it would appear. (They may still be preparing a stink bid as part of a new company, to try and grab the assets.)
Since TBE is in full receivership, and the board has resigned, there is no obligation to publicly file financials. Interested parties will be talking to the receiver, to determine how things are looking.
Ironically, TBE is probably in better shape than LTS. I suspect they'll have positive cashflow, whereas LTS had negative cashflow. LTS is a complete basket case, yet the secured creditor was still willing to put in a credit bid. But for the sake of the unsecured creditors, they are the ones that also need to put in a credit bid, but that might cost a bit more, to guarantee the debt of the secured creditors, so that may not happen.
I think the TBE debenture holders are in a better position, than the LTS unsecured creditors. I'll do some analysis on that, in the future.