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 > CCAA

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Comment by LyChaunceyon Sep 29, 2022 8:54pm

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Post# 34996490

RE:RE:RE:RE:CCAA

In a lot of situation you are right. In this situation, Xebec got caught by a 25M due tomorrow from National Bank of Canada. While it does seem they have about 30M cash to cover this payment but don't forget they are currently executing a huge contract so the working capital is very tight. Guess the reason they go into CCAA today is to buy more time to convert more of the 44M account receivable and the 50M inventory into cash and selling some assets too for this payment. After this 25 million, the total debt will be reduced to 40 million. It think it is quite a different situation here from GM or Air Canada.

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