FormerXBC Inc XEBEQ

Is it really over?

[Kipperly]

They have applied for creditor protection but is there a chance they will receive financing from another source?  Can anyone comment on this scenario based on their experience with other companies in a similar situation?  Is the company still operating, or are all contracts now gone and customers are looking for other suppliers?  If waiting until Oct 12 is what we need to do I can accept that, but just attempting to start intelligent conversation on how this will unfold.  The comments from the jokers at 5i does not look good, but they have been wrong about everything to do with this stock for the past 2 years.

[Ottery]

Read the reports put out by Deloitte. They already tried lots of options already. Simply put, it's not officially over but it looks terrible 

[AlwaysLong683]

This 2009 article from CBC News (which I presented in an earlier post) descibes the CCAA process in layman's terms. P.S. If memory serves, I believe another one of 5i's big picks was EGLX, another disaster to date.

[AlwaysLong683]

Also check out the Government of Canada's webpage concerning CCAA. Excerpt:  " ......the Court.....issues an order......that typically gives the company 30 days' protection from its creditors.....The stay typically prohibits collection proceedings against the company to enforce existing debts, and the company is prohibited from making most payments to existing creditors in