OCC missed the previously contracted requirements of two bank covenants, one on April 30, 2019 (waived) and another on July 31, 2019 (suspended).
Barring a dramatic development, I expect OCC to violate two bank covenants on October 31, 2019 (expected to be waived and/or suspended in exchange for consideration).
I expect OCC's bank to encourage OCC to take bank-friendly actions.
I believe probability of a sale of OCC to an acquirer has increased.
OCC's Total Liabilities to Tangible Net Worth Bank Loan Covenant
On April 30, 2019 (FY2019 Q2-end), Optical Cable (NASDAQ:OCC) was "not in compliance" with the Total Liabilities to Tangible Net Worth