Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yikes!
The answer to your question can be found in the following document: Technical bids: Proposal to Public Works and Government Services Canada last modified by Mica Arlette on May 18, 2020. I did not add the "bold" statements. That's all PwC. Thank you for your service but according to PwC Bioamber was successfully restructured. "execute on the restructuring plan" they must have have "forgotten" to post that plan right???
Nope just turned my attention to the lawyers involved with Bioamber. Their all frauds!
IE
Hey PwC advocate! I have an actual Bioamber question for you:
BioAmber Inc. with the assistance of the Monitor, PwC, developed a restructuring plan and didn't make it available to the public in an SEC filing or share it with shareholders of the Company.
How would you classify that: Willful omission, gross negligence or bankruptcy fraud?
IE
I'm glad someone brought up the bid by Greenfield Global who's CEO was the former CEO of Bioamber Inc. In that bid they bid on the shares of Bioamber Sarnia (none of the assets of Bioamber Sarnia) and certain assets of BA Inc and BA Canada. If this bid had none been withdrawn and was accepted in the CCAA and the only thing sold relating to Sarnia were the shares of BA Sarnia - would BA Inc still own the Sarnia Plant since none of the assets of BA Sarnia were being bought?
Look forward to hearing what the answer is to this very specific question and not the typical "it didn't happen so it doesn't matter". Try and just answer the question related to the Greenfield bid with Bioamber that is referenced above.
IE
#BIOA
Well is it BIOAQ or BIOA according to the SEC?
It was said:
Um really:
You said:
Hey:
LOL I can't believe I need to hold your hand through this:(
There is no value available for holders of equity claims...IN THE CCAA!
Please refer to what the letter is about to ascertain the context of the statement. How could there be...The 3 corporations claimed $0 assets in their Court filings. How they got 4.3m is short of a miracle. But they must have moved some of the assets into those corps. Follow along below. Your stuck in the CCAA liquidation hoping we close out our position before the "sale of the Company" which they forecasted fees for occurs. Consider everyone turned loose...including yourself :)
IE
PS-there is no need for you to respond but you can't help yourself can you?
Here's what you they don't want you to understand and this is from a Court document so its a fact:
"Prior to the Commencement Date, the Company owned de minimis assets in the United States, limited to an office lease and certain furniture and
other personal property."
1 simple question proves my point: Prior to the Commencement Date-what Corporation held the shares of Comet Bio valued at roughly $500k CAD, the IP and all the other assets?
The corporation that holds the shares of Comet, the IP and all the other assets is not part of the CCAA or CH 15 proceedings. If there were no further assets and Bioamber didn't exist there would be no need to include the ability to reopen Chapter 15 pursuant to section 350(b) of the BK code. Can someone please tell everyone what section 350(b) is all about...
GOOD DAY!
IE
Did you think that through?
Thinking out loud here based on a factual Court document...(I know thats frowned upon by certain legal professionals that circle like rodents around shareholders)...But here we go:
"Prior to the Commencement Date, the Company owned de minimis assets in the United States, limited to an office lease and certain furniture and
other personal property."
Are these the only assets that were sold during the Proceedings? If so, where are all the other assets located at? According to Court filings they are not located in BA Canada or BA Sarnia.
And if they moved assets into this Corporation: where did they move them from? According to Court filings not from BA Canada or BA Sarnia because they claimed zero assets.
And then you have to ask: exactly what assets did they move?
If your answer is "they only sold what was in there" then you have to admit there are a lot of assets left that belong to BA.
If your answer is "they moved assets into that Corp" then you have to admit you don't what assets they moved, where they moved them from and how many assets are left or the value of them. All you know is that value received for "certain assets" was the highest and best offer.
All that being said: Court documents show they liquidated 3 corporations with very few assets. I'm not arguing they weren't liquidated-i'm just saying according to Court filings they didn't have much to liquidate. And if the restructuring plan had been made public by PwC this would be much more transparent.
IE
I would like to talk about:
Oh no don't go now...I'm convinced my shares have value! You know why? Because all the professionals/lawyers who worked on Bioamber specialize in cancelling shares. Are you telling us that PACHULSKI STANG ZIEHL & JONES, PwC and counsel couldn't "figure out" how to cancel shares? Cancelling them was an option in the terms for bids lol!!! And not only did they not cancel shares but they freaking guaranteed that shareholder information would survive the Visolis Transaction - GUARANTEED TO SURVIVE and forecast fees for "the sale of the Company". Yeah yeah yeah but it's been 5 or 6 years. The bidders submitted 5 year business plans to PwC. Who submits a 5 year plan to PwC when they are buying assets "free and clear"???
BAHAHAHAHAHAHAHA
Try some eagle
IE
Technical bids: Proposal to Public Works and Government Services Canada (authored by PwC-last edited by Mica Arlette)
and I quote
What a great question:
Bioamber
Liquidation was not mentioned in that description about what happened to Bioamber?? Was IS mentioned IS "the sale/long term financing of the business".
Why is "yes or "no" to BK fraud or failure to report a material event to the SEC in this Bioamber description so difficult for you to answer???
JUST ANSWER YES OR NO TO BK FRAUD AND/OR THE FAILURE TO REPORT A MATERIAL EVENT TO THE SEC BASED ON THE DESCRIPTION I PROVIDED!
IE
Good your here too! I'll ask the question now and remember it is a simple "yes" or "no" question:
If BioAmber assisted by PwC came up with a "restructuring plan" that included a dual path to maximize value for ALL stakeholders (and expressly defined "other stakeholders" as licensors of IP, local and international customers and shareholders) including a DIP financing solicitation process to find and secure current operations followed by a SISP process for the sale/long-term financing of the business AND DID NOT share the "restructuring plan" with shareholders or file it in the Courts - would that be BK fraud and/or a failure to report a material event to the SEC?
Yes or No answers only - no rattling off crap about this never happened. Just answer "yes" or "no" to what was stated and if it is BK fraud and failure to report a material event to the SEC please.
IE
I want you to hold that thought on nothing can be covered by NDA's because it was a public company...I'm going to ask you a question maybe tomorrow; about BK fraud and failure to report material events to the SEC if thats ok? It's a "yes" or "no" question so easy easy for you.
IE
wrong McKoy-its however many days it takes for the sale of the Company as reported by the Monitor in a legal document filed with the Court that fees were forecast for. I'll be here til you're gone.
IE
PS-the fro is a good look. Tell Mark I said hi
As a reminder for BIOA shareholders:
I read all those words you typed out and i'll counter it by saying the following:
1. Instead of spending retirement enjoying the golden years with your family; you are glued to a device or computer were you constantly check the messages being posted about Bioamber...
2. And then in an unexplainable mind bender you try to convince posters you don't care what they do with their shares of Bioamber; all the while pounding out explanations of why shorts don't exist etc etc etc... and saying I don't care what you do with your shares.
Answer me this: How in the world is what Bioamber shareholders think or say more important than your family, retirement or enjoying the things you'd like to do and how did Bioamber rank so high on your list post retirement?
You can never get this time back,
IE
Just remember: You are the Real McCon
Go do something meaningful with the rest of your evening because your con is not working here on Bioamber shareholders.
IE
Hows that explanation of the docs I posted doing? Did the attorney lie in his letter? Did they leave the option to reopen chapter 15 and why? The answer is in the letter McCon...IT'S IN THE LETTER MCCON!!!!
IE
So all you got is "posters" and nothing to rebut the actual documents provided...
How am I a con when I still own own ALL my shares? You and Biff are the con artist. What a complete embarrassment that response was. But really how could you argue those docs?? So I guess all you had left was "posters" huh? What a horrible job you're doing McCon!!!
IE
Buzzard here! Yeah Bioamber was liquidated of the assets it owned that did not have a secured creditor attached to them. The attorney for PwC clearly stated that on December 3, 2018 well after the Monitor's certificate was signed! To further add to your pathetic misery the attorney for Bioamber Inc in the chapter 15 proceedings included reopening the chapter 15 case pursuant to section 350(b) of the bankruptcy code which allows a case to be reopened "to administer assets" (like the ones the Monitor took possession of) or for other cause (like the forecast fees for the sale of the Company). So go ahead and subtract 4.3m (UPFRONT) from the acquisition cost of the assets and put that in your 500 lb. sack of potatoes. These are all documents from attorneys or pwc (#FactsMatter) shown below with red lines to help simplify your life. Stop trying to con people Biff.
IE
Yeah getting a good look at Canada. Where the OSB hasn't discharged the Bioamber case; Corporations Canada can't dissolve the BA Sarnia and Canada Federal Corporations because of that; and the CIPO just granted a patent to Bioamber Inc., US today 2023/11/28. Keep up the effort; at least you're humoring me!!
IE