TSXV:EVE.H - Post by User
Post by
reallyBobbyZon Apr 02, 2021 10:31am
158 Views
Post# 32931827
RBC Debt Ratio...EVE added $1,550,000 DEBT in Dec/20...OUCH!
RBC Debt Ratio...EVE added $1,550,000 DEBT in Dec/20...OUCH!RBC has an $18,000,000 loan to EVE. That loan has a specific Debt to Equity Ratio requirement. EVE did not meet that requirement for its Fiscal Year ended 2019. RBC gave EVE a "waiver" until April/21 [right now].
Reviewing EVE's released financials from Q3 2020, we do know EVE's equity has dropped from $31,025,928 (year end 2019) to $26,294,711 at Sept 30/20 = a drop in Equity of $4,731,217.
In Dec/20 EVE took out 2 high interest loans (not from RBC) that totalled
$1,550,000.
BOTH these items NEGATIVELY Effect EVE's Debt Ratio with RBC.
A BIG OUCHHH!!!!!!