RE:RE:RE:Bankrupt in 2023?quinlash wrote: Touran77 wrote:
Keeler wrote: No way said the pumptards, I've posted it for months - why arent the pumptards calling the external auditors bashers and paid liars?
Other than the fact that Hexo is number 1 in rec sales, here is why I think Hexo will not declare bankruptcy.
https://mjbizdaily.com/hexo-loss-improves-to-ca114m-but-auditor-warns-of-debt-repayment/
“The company acknowledges the ongoing concern with the senior convertible note,” MacDonald said in reply to an analyst question.
“We understand the risk the note poses, and we’re taking this very seriously.”
He said the company will notify shareholders after there is a material update.
MacDonald added: “I’ll reiterate that we are in conversations with the debt holders themselves. They have been cooperative.
“They’ve negotiated and agreed to a couple of amendments that were beneficial for Hexo, and we’re looking at resolving the issue as fast as we can, and we hope to give an update as soon as possible to our shareholders on what that might look like.”
They noted that they have the funds to sustain the operation going forward, it's the debentures that need to be addressed and they're working on that. I can't imagine the debenture holders are going to cut their own hands off by not working with HEXO to come to some sort of an agreement.
JMHO
Q
Oh really, enough funds? Net earnings were negative -$68 million in the last quarter alone and -$113.6 for the year. Not exactly chump change wizard. They will need to be raising more money, again, and likely soon, that is the only option. They better hope market sentiment changes for the LP space or they will be doing it at levels lower than today - if they can find buyers for the next private placement.