Cerplex Group Inc, Tustin, California third party maintenance and parts and logistics supply company, warns that it is currently in violation of some of its senior and subordinated debt agreements and is in talks to amend the loan deals. It says it has received waivers that run to November 30 from lenders and notes that it has previously disclosed the violations in filings with the Securities & Exchange Commission. Its troubles do not end there and its tangible net worth has fallen below the minimum requirements for listing on the Nasdaq National Market, so it is having to talk to the Association of Securities Dealers about that. Cerplex says its third quarter losses reflect charges for asset write-downs, higher interest expenses and a variety of other factors. Collection problems with one bankrupt client and several other customers caused it to tighten credit standards.
