IBC has entered into a non-revolving credit facility agreement with Mr. Mark Smith, IBC’s Chairman and CEO, pursuant to which Mr. Smith will provide short-term financing to IBC by way of a loan of up to US$1.2 million, secured by a general security agreement.
IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC’s Copper Alloys Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC’s Engineered Materials Division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC has production facilities in Indiana and Massachusetts.
IBC is traded on the TSX Venture Exchange under the ticker symbol “IB” and on the US-based OTCQB as “IAALF”.
IBC Advanced Alloys Announces Election to Issue Shares in Satisfaction of Debenture Interest Payment Obligations
IBC elects to issue common shares to holders of 9.50% unsecured debentures due June 6, 2023, and 8.25% convertible unsecured debentures due June 6, 2023, in satisfaction of up to an aggregate total of approximately C$152,978.75 interest payable on June 30, 2022.
IBC booked another profitable quarter with comprehensive income of $287,000 in the quarter, or $0.00 per share, a 107% increase over comprehensive income of $139,000, or $0.00, in the prior-year period. This quarter’s success marks IBC’s second consecutive quarter of profitable operations, and it is the first time in the Company’s history that it has remained profitable after three quarters of operations in a fiscal year.
Quarterly Financial Results
Fiscal Q2 2022
Fiscal Q1 2022
Fiscal Q4 2021
Fiscal Q3 2021
Fiscal Q2 2021
Fiscal Q1 2021
Fiscal Q4 2020
Fiscal Q3 2020
Fiscal Q2 2020
Fiscal Q1 2020
Fiscal Q4 Year End 2019