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 > Stay Period & Judgement Urgent Ex Parte appl

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Comment by GolfMania1968on Nov 30, 2022 10:06pm

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Post# 35141785

RE:RE:RE:RE:RE:RE:RE:RE:RE:Stay Period & Judgement Urgent Ex Parte appl

I don't think that we need to assume that.

There are only 22.5M$ of secured debtors (BNC and EDC). Xebec subsidiaries (Tiger, Hygear, System network, UEC and Inmatec) are worth much more than that.

The Monitor/NBF should and must get much more money than 22M$ for 2 of these assets (if they are allowed the time to negotiate with multiple bidders). These assets were purchased for more than $100M in cash.

With the extra cash generated, Xebec can make a proposal to unsecured debtors (cash and stocks), reduce the HQ structure (a must), go private and turn cash-flow positive. The current shareholders will be diluted by the unsecured debtors shares but should not be wipeout.

If BNC and EDC squeeze the SIP process by not supporting the company (4M$ is not supporting) and force an unstructured sell-out, this is what will create the wipeout. Emergency sales = bargain deal for the buyers. EDC is the gvt so they should support the company to save jobs. BNC not so sure.

Chow

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