FormerXBC Inc XEBEQ

Ongoing negotiations

[SORNG1]

Xebec - Sixth Report of the Monitor - 2023-02-10.pdf (deloitte.ca)

This is the sixth "Report to the Court" from Deloitte regarding the reorganization of Xebec.   Most interesting part starts at the middle of Page 9 with The Ivys Transaction (Xebec Inc. and CAI)

To my interpretation, this Transaction contempalaste the sale of substantially all the assets of Xebec. Inc. and CAI (the "ivys Purchased Assets") and the continuation of its business by the purchaser in a going concern.    Xebec has already sold off Tiger Filtration and Hygear.    Does this mean the continuation of the remaining RNG (Biostream) portion of Xebec will be purchased by IVYS and will continue the RNG portion of Xebec under new management with IVYS?   

Checking on the webiste of IVYS Energy Solutions, it is a private company that works predominantly with electric and hydrogen energy processes.  They have a unit that produces "on site" hydrogen called "Simple Fuel".  It works with electrolysis of water to form hydrogen on site.   They also make electric recharging stations.   I don't see any presence in RNG but obviously the Xebec acquisition would provide this alternative fuel.  Last March they hired Prabhu Rao as Chief Executive Chairman and Chielf Strategic Officer.     I have no clue what all this will mean for present shareholders of Xebec.     I am encouraged that there is the possibility of Biostream expanding and becoming a critical part of the transition from diesel to RNG as the fuel for Heavy Duty Over the Road Trucks.     This transition from diesel to a new Renewable Energy is critical and I think Biostream has the best capability of expanding RNG production from organic waste, especially agricultural waste.    It is absolutely critical that a "Renewable Hydrocarbon" be developed, and the use of RNG or Green Hydrogen produced by RNG is the best solution.      The idea of Total Electrification has to be recognized for what it is---an impossibility.    Renewable Electricity is great as a way to cut down on the electricity presently produced by coal----but there is no way to produce enough electricity for Total Electrification including Heavy Duty Trucks.      Using hydrogen or RNG as a replacement for diesel fuel in these long haul trucks is the only feasible solution.      The monetary loss I've had with Xebec is only money.     The replacment of diesel fuel in long haul trucks has the potential to significantly decrease pollution from diesel fuel and the resultant Global Warming it produces.    My children and grandchildren will suffer if the use of diesel fuel in heavy duty trucks isn't drastically diminished.