FormerXBC Inc XEBEQ

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Xebec Adsorption Inc designs, engineers, and manufactures products that are used for purification, separation, dehydration, and filtration equipment for gases and compressed air. The company operates in three reportable segments: Systems, Corporate and other, and Support. Its product lines are natural gas dryers for natural gas refueling stations, compressed gas filtration, biogas purification, associated gas, engineering services, and air dryers. The company's geographical segments are United States, Canada, China, Other, Korea, Italy, and France.

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FormerXBC Inc > What does a Board do if management does not perform?

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Comment by DueDiligence20on May 14, 2022 3:58am

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Post# 34683618

RE:RE:What does a Board do if management does not perform?

I think TradePro's comment was about incompetence in not realising the value of Hydrogenics! We are still undervalued.

Gann999 wrote: Sweet she can sell hygear for 350 million alone I wonder what she could get for the entire company then. So this is way way undervalued then is what you are trying to say. I agree
TradePro wrote: Sell the company! Especially if you don't have a significant stake in the game.

Clearly XBC's Board has acted in a highly irreponisble manner. They have appointed junior managers to senior executives roles and are now faced with an operational disaster.

For the Board to get out of this predicament and its fiduciary responsibilities the most elegant way is to sell the company.
Some of the Board members have past experience in this, especially Brian Levitt and Sare Ellfort.

Especially Ellfort has a dubious past in selling companies at rock bottom prices. She was a Board member of Hydrogenics (probably the best hydrogen company in Canada at the time) and the Board sold the company for $350 million to Cummins. Look at the value of companies like FCLE, BE, PLUG or BLDP, they are worth billions. Clearly the Board of Hydrogenics at the time did not understand the underlying value of the company.

Shareholders of Xebec should be very concerned that a similar event will happen to them. After completely misguiding the company the Board might consider selling the company at rock bottom prices. It would be worthwhile asking the Board this question and trying to get an answer.