Eve & Co Inc V.EVE.H

It's simple

[stockhorse10]

If Eve needs capital..they will either increase their LOC (I'm sure 5 million would work) or will do a raise... they are also moving into Alberta and that alone might be the catalyst to push them to the next reporting level when we're supposed to be in better shape with the first batch of German shipments having been sent out plus the cannalogue sales and Canadian cannabis stores....they are not going under..I REPEAT...ARE NOT GOING UNDER.....EOM

[Burnsmart]

Something is in the works for sure.....these players are not putting their eggs in the EVE basket if they think it is bordering on  bankrupcy.  

[reallyBobbyZ]

Hey SH....increasing their RBC Line of Credit would be extremely difficult. RBC is already into EVE for about $17,000,000 as a mortgage BUT, EVE is "offside" on their covenents to RBC already. NOT GOOD.  RBC has given EVE "a pass" on the issue until March 31, 2021. I know the RBC folks very well....they would be hard-pressed to add even another dime to their EVE deal

[stockhorse10]

.. That vault material is earmarked for German shipments...no if and or buts about it...there are now sitting with 5 German binding deals with upwards of 5300 kilos per month..they can't take a chance and sell that on the Canadian open market...they will get financing if needed but I've been crunching some numbers and they have a chance here without a raise or borrowing...they need into

[Goldy63]

Well thats odd as I saw it posted here that EVE has paid down its LOC by several million $$ . Am I wrong ??. 

[reallyBobbyZ]

Hey Goldy....yup you are wrong and me too....I "low-balled it" when I said $17,000,000. See note 7 in Q2 financials. Loan Facility was $18,647,831 at June 30, 2020. 

[Goldy63]

Well then I guess RBC Has  increased the original loan so whos to say they have not increased it even more ??. 

[RoguesGallery]

This post has been removed in accordance with Community Policy

[reallyBobbyZ]

Hey Goldy....RBC did not increase Eve's Line of Credit [LOC]. See Q2 financials note 7. The LOC was started late in 2019 at $18,700,000. Dec 31/2019 it was still $18,700,000. Q2 shows it at $18,647,831 at June 30, 2020.

[Goldy63]

Your right was 18 mil 700k . Had 17 million in my head . Apologies . And yes LOC,S can be  extended over preset amount in certain circumstances . Cheers .