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Silver North Intersects 1.83 metres True Width of 1,088 g/t Silver, 3.90 g/t Gold (click to learn more)
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Bullboard - Stock Discussion Forum FormerXBC Inc XEBEQ

Industrials
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,... see more

GREY:XEBEQ - Post Discussion

FormerXBC Inc > management on forbearance last CC
View:
Post by TheCount11 on Sep 29, 2022 9:22am

management on forbearance last CC

Can you elaborate a bit more on the one of the credit facilities currently being in forbearance?

Stphane Archambault
 
Yes, absolutely. This is, this is a temporary thing. We did, we did breach one of the covenant. And that's why we, we had to have that four page letter. We came up with an agreement with the bank, and we're monitoring the situation. So that's the that's the situation right now. And as I said, and then as I pointed out, I mean, we can definitely reinstitute that with no problem as we fix the ratio.

___________________________________

WTF!?!?  No details...
Comment by filoux004 on Sep 29, 2022 9:28am
Answer find yourself a lawyer and good luck. Peace
Comment by VicesVertus2222 on Sep 29, 2022 9:28am
Mind if I ask you where you got the quote from Archambault? Tks
Comment by filoux004 on Sep 29, 2022 9:34am
Probably from the Q/A during call last financials. Peace
Comment by TheCount11 on Sep 29, 2022 9:46am
exactly
Comment by VicesVertus2222 on Sep 29, 2022 9:52am
OK, you mean that it was mentioned at the last conference call. Got you. I did not understand the CC. Probably the shock of today's news that gets to me.
Comment by TheCount11 on Sep 29, 2022 10:42am
Think we are all shocked!
Comment by AlwaysLong683 on Sep 29, 2022 1:19pm
I suspect XBC went to their creditors asking for adjustments to any covenants they broke or were about to break and the creditors said no. In contrast, Baylin (BYL), another company in trouble (a big part of which is too much debt) was able to reach an agreement with its creditors to amend credit agreements. Bottom line in my view: Any small cap company that currently has too much debt is going ...more  
Comment by TheCount11 on Sep 29, 2022 1:23pm
agreed
FormerXBC Inc