FormerXBC Inc XEBEQ

National Bank Credit Facility

[Arbourmark]

We know that COO departure announced Feb 12 and National Babk $59 million credit facility was announced Feb 24.

One would think a bank does in depth due diligence prior to approving a $59M credit facility and would have required financials including draft financials if they were not approved by board. They would have also dug into COO departure.

Obviously National Bank still proceeded with final approval of the $59M credit facility.

[ferret_ca]

so I guess we'll see if xbc had disclosed to them they were robbing peter to pay paul as far as reporting revenues go, they were reporting revenues on projects they had not even started , some of those were also cancelled, so I highly doubt they told the bank this or they would probably not done the financing at that rate, they are going to command a big risk premium going forawrd or any

[Mick67]

Ferret, Appreciate all your negativity, however I tend to look at both sides of the story unlike the spew your are throwing out there. I also like to know who's involved with the company and I don't think your financing comments or never profitable comments are correct.  First I think you should take a long hard look at the Board - a few interesting names that will want to ensure this