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Ebix untimely filing ?3

07:19 09-Nov-23


Ebix has filed a 12b-25 for untimely submission of its quarterly report.  Although EBIX stock is down another 25% to trade just above $3.50, I view this filing as vaguely positive, since it says the company does plan to file by November 14th.  That implies no bankruptcy at that point, and there are also discussions to extend forbearance for another year.  I'm still not certain there will be any value left in the equity, but my prediction that current shareholders would "eventually be wiped out" is now already mostly fulfilled, and I see the risk/reward as more evenly balanced at this point.