FormerXBC Inc XEBEQ

Sale of Hygear

[Hesiod07]

XBC paid 82 million euros in cash and stock for Hygear in Dec 2020. There better bloody well be cash available to shareholders after this transaction.

[savyinvestor333]

Don't count on it.

[dalesio_98]

Secured creditors and unsecured creditors must be made whole before equity holders collect.

[ferret_ca]

Kurt paid just over 9x sales for hygear with overpriced stock and  mad money (to him imho) he'd raised at inflated stock prices during the green bubble. there is no way that they got  anywhere close to that price, in fact I highly doubt they even got 25% of what they paid probably closer to 15% imho. as far as the Hope comment, well just rotfflmfao  bwaahhahahahahahaha 

[InPersona]

Just as Qualcomm, Samsung  and Nvidia compete with ARM while utilizing ARM licenses, who's to say Hygear and others won't utilize Xebec licenses?  The green bubble hasn't burst. Xebec's real value imay be in 50 years of intellectual property. Could this just be a genius way of restructuring? It wasn't that long ago that some experts believed a share price of $11 was

[Hesiod07]

In my opinion current management doesn't want the company to be public. That explains the rush to CCAA, the untimely firing of Chow, the continued relationship with NBF and much else. The benefits of managing a private company, including lack of oversight, will be highly attractive and doubtless lucrative. 

[dalesio_98]

Lucrative for whom? Certainly not shareholders and unsecured creditors.

[InPersona]

Justin Bieber got $200 million for his catalog of  intellectual property. Not bad for a relatively short career.  Xebec has been creating for 50 years, and it's only now that the world is dancing to the green beat. 

[rltchk]

IMHO this is nothing more than the usual stick it to the shareholders... basically run up debt by buying companies such as HyGear at inflated prices so their equity holders make a killing (including anyone who bought shares with inside info).  Then declare bankruptcy which usually means shareholders get zip while having financed all this inflated spending.  Form new numbered private

[InPersona]

A 50-year plan just to stick it to shareholders, many of whom are employees?  C'mon! There's gold in green. This is Avro Arrow with the opposite result. With $15 billion at the ready, the goverment won't let Xebec fail. 

[Hesiod07]

This is the key. Current management engineered this CCAA because they saw that a private company could manufacure Biostream units profitably without the vagaries of European business or dreary shareholder/analyst oversight. There is just too much circumstantial evidence to refute this supposition. 

[tamaracktop]

What a F'n disaster. This is the biggest clusterfk I've ever seen. If I'm not mistaken, National Bank are the ones that petitioned Xebec into bankuptcy. Please tell me I'm wrong about that, National Bank is acting as Xebec's "advisor". When this is all over, which it is, the biggest bagholder left will be Marinus van Driel.

[Hesiod07]

NBF's role in this may be key either as belligerent (sorry I thought banks worked with their clients to solve business problems including lending then funding) or as collusive partner (leave that to your imagination.)

[Marcello]

I don't think it's over yet , might be just unloading money pits they had. Thought the sale of Hygear was a mistake but in terms of contracts and sales not many for what it's worth. IMO 

[overnout]

I loved the idea of being in the hydrogen space when they bought Hygear. The potential seemed great on the fueling station side, but I was underwhelmed by the glass factory contracts they got and the need for a massive capital infusion if they were going to build out the hydrogen terminal project. If there is going to be anything left of this company, the low hanging fruit seems to be in the

[InPersona]

For sure, those two babies won't be thrown out with the bath water.