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I wonder if BioAmber Inc ever collected that $14 million USD in (Over 90 days old) Accounts Receivable as of June 8th, 2018...
They did report that $0 would be doubtful or uncollectable
As explained in the court document below, that would be bankruptcy fraud if BioAmber Inc lied about the Accounts Receivable amount...
It speaks volumes that 2 individuals have reported 5% ownership AFTER the June 26th final CCAA court hearing.
Congratulations to those individuals.
For those unaware, if those individuals decided to "unload" or "pump and dump" they would be required to file an amendment to that 13g that states they are no longer 5% holders.....
10.2% of the O/S... That's massive
DD/facts/links/sources vs "fantasyland cancellation"
Invest wisely....
Ontario Green Party leader and government officials must have been estatic to tour the facility this week that LCYB acquired for $4.3m and essentially screwed over all stakeholders including, employees, suppliers, contractors, clients, shareholders and creditors like the Government!
The Visolis APA Closed in October 2018...
The IP and property have not transfered as of today.... Infact Bioamber is still filing for IP as most recently as last week... CLOSED IN OCTOBER!!!!!
That means Visolis/LCY waived the conditions to closing the APA...
Sarnia secured creditors have Zero security over Bioamber Inc shares or assets...
BIOAMBER INC IS NOT A GUARANTEER OF BIOAMBER SARNIA DEBT
PWC has quite the team working on behalf of BioAmber on this "restructuring"
It's now Paul's turn.
Filing the 2019 Form 22 Annual Return for BioAmber Sarnia, July 8th 2019.... hmmm
Paul must be filing on behalf of BioAmber Sarnia just for fun... had some free time at the office and he figured why not file the 2019 Form 22 Annual Return for BioAmber Sarnia that is a debt-ridden dissolved corn sludge-filled but empty worthless shell....
First Mica making the filing for BioAmber BioChemicals...
Now Paul making the filing for BioAmber Sarnia...
Also thought it was quite "fitting" to the process that the number Paul provided on July 8th, 2019 is disconnected...
"Visolis and LCY purchased the assets of BioAmber for $4.34M, that sale is very well documented in the monitor's reports, the court motions and orders and is done and closed. That's the only transaction involving the 3 companies"
Which 3 companies?
1) LCY
2) Visolis Inc
3) BioAmber Inc (US)
4) BioAmber Sarnia Inc
5) BioAmber Canada Inc
6) BioAmber BioChemicals Inc
Lots of documented DD has been ignored including the fact that LCY/Visolis were Qualified Bidders.
Visolis has taken over Bioamber Inc's address in St. Paul and Visolis B.V has setup at DSM/Reverdia Netherlands location
Let's not forget that LCYB is currently represented by LUC Morin.
Same lawyer as DSM during the Sisp...
Sorry, but there are so many elements that are patently false.
That is the REQUEST FOR BINDING OFFERS in the Second SISP.
You can either bid for THE ASSETS (Lot 1,2,3)
But if you do this you will be a non-qualified bidder.
In order to be a Qualified Bidder, you must meet certain conditions.
With respect to THE ASSETS (VISOLIS TRANSACTION) is D)
BUT when it comes to "With respect to the Recapitalisation" or condition E),
THIS CONDITION IS MANDATORY AND NOT "IF APPLICABLE"
LCY AND VISOLIS WERE QUALIFIED BIDDERS!
BUSINESS AS A WHOLE
Mike Hartmann, a key part of Bioamber who is still listed as a Director for the active corporation BioAmber BioChemicals is now an employee of LCY Biosciences!!!!
GREAT FIND/DD AS ALWAYS!
I post factual verified information, when that time comes I will post it. I'm currently on vacation and will continue to enjoy it.
Always do your own DD, don't invest blindly based on other opinions or not verified information.
My position has been stated and REPEATED.
TRUST THE DD
BIG THINGS COMING
Bioamber is a private company now!?!?
Awesome DD
I guess we don't have to wait until tomorrow,
Thanks for the advance notice
Yes the board of directors ultimately agreed to restructure the company...
As stated in Ellen Richstones resume from AFTER the second sales process AFTER she voluntarily resigned in August AFTER reviewing the bids...
If there is a document that states the shares will be cancelled post it for all to read.
"November 5th" share cancellation..... Goes to show how much of a fantasy it is that shares will be canceled.
It's now 7 approaching 8 months since the shares were canceled... LOL
How much debt does the Delaware corporation have?
Let's not forget that we're dealing with a minimum of 3 companies...
Bioamber Sarnia Inc.
Bioamber Canada Inc.
Bioamber Inc.
Substantially all of the secured debt is with Bioamber Sarnia.
These Canadian creditors have zero security over Bioamber Inc assets or shares...
Bioamber Inc still retains assets following the CCAA process...
Bioamber Inc holds intellectual property and licensing agreements which they sublicensed to Bioamber Sarnia...
LCYB will continue to produce BioSA... You can't do that in the existing configuration without a low pH yeast... BIOAMBER INC HOLD THE EXCLUSIVE WORLDWIDE LICENSE FOR CARGILLS CB1 YEAST!!!
Lie about its sale!?!?
Stop with the false tales
Noone is lying, the Purchaser waived all conditions to that sale... Sale closed October 22nd 2018
Bioamber Sarnia is still on the title!
Unless proven otherwise, individuals are lying
LCY is producing BioSA!
Hahaha so the Visolis transaction means nothing?? I'd hate to purchase a facility/house and then have to wait a year to have the liens removed even though I bought it clear and vested....
The Purchaser waived all conditions to the closing of the Visolis Transaction that closed in October 2018... It's now June 2019 and we are still waiting for the ownership change???? Documented facts = real knowledge, "opinions" don't mean shyt
Continuing to post that the judge will dismiss the liens at the end of the proceedings is feeble and laughable attempt to imply that $4.3 million was everything and shares will be cancelled because of "opinions"
TRANSFER TAX HAS BEEN PAID! YOU DON'T PAY TRANSFER TAX AND THEN WAIT FOR THE OWNERSHIP TO TRANSFER LOL
BIOAMBER SARNIA IS STILL THE LEGAL OWNER
CAN ANYONE PROVIDE A DOCUMENT THAT SAYS BIOAMBER SARNIA IS NOT THE LEGAL OWNER OF THE LAND AS OF TODAY????
NOPE
Take a second or third read... I'd love to hear about the below grade investment notes KKR will be issuing....
Thanks for all your DD on here........ I feel like this may be a bit misleading if not read thoroughly and consulted with a investment advisor
Let's not forget the current ccaa proceedings are not a consolidation of assets...
Except they are producing BioSA Hahahah aka corn sludge
https://www.ziprecruiter.com/c/LCY-Biosciences-Inc./Job/Plant-Operator/-in-Sarnia,ON?jobid=3c522b6e-5d0c4ada
You can't produce BioSA without a industry proven strain which takes years of R&D...
BTW Bioambers "Cargill" strain is the lowest cost route for producing BioSA in the World.
BioAmber Inc USA still retains this strain with the technology and licensing agreement with Cargill
USA Bankruptcy Judge is discharging Canadian debt???
Hahahah
THIS IS A COMPLEX RESTRUCTURING FOR ALL THE NOOBS WHO INVEST BASED ON CANCELATION FANTASIES AND NO FACTUAL PROOF
... waiting for the generic responses
"you don't understand"
Hahaha
COMERICA* has no security over the US BIOAMBER INC Assets or SHARES!
THREE SEPERATE ENTITIES
FOR ADMINISTRATIVE PURPOSES AND NOT CONSOLIDATATION OF THE ASSETS ALL THREE ENTITIES WERE INCLUDED IN THE CCAA
THE COMPANIES ARE NOT LUMPED TOGETHER
WHY HAVEN'T THE PATENTS BEEN ASSIGNED TO LCYB YET??
WHY HAVEN'T THE TRADEMARKS BEEN ASSIGNED TO LCYB YET??
WHY HASN'T THE NAME OF THE LAND TITLE CHANGED TO LCYB YET??
WHY DIDN'T THE CCAA JUDGE DISCHARGED THE DEBT??
WHY WOULD THE US JUDGE DISCHARGE DEBT FROM A CANADIAN COMPANY??
BIOAMBER INC (US) IS A SEPERATE PARENT COMPANY THAT OWNS 100% OF THE SHARES TO BIOAMBER SARNIA....
HAHAHAHHAHAHAHA
Simple question, are equity holders of Bioamber Inc considered stakeholders?
Equity holders = Shareholders
Shareholders = Stakeholders
Thanks for posting the Annual filing for Bioamber BioChemicals!!!
For some reason PWC was signing and filing for a company that is not involved in the CCAA proceedings...
1.Bioamber Inc
2.Bioamber Sarnia
3.Bioamber Canada
Thanks for showing the nubes in OTC land that this is indeed a complex restructuring
Hahahahaha
What is the objective of looking at the books!?!
Bioamber Inc still holds these contracts, is Crane expecting to force the assignment or get possible value from vinmar pulling out of that contract!?!?
The contracts were not purchased or assigned in the CCAA, politely f*** off Crane
Let the CCAA conclude!!!
What was clearly evident? The judge granted Crane the extension even with the creditors and PWC's objections...
HAHAHHA
HAHA oh boy...
So now Nol's and Contracts exist but no restructuring plan...?
Unless you heard a rumor outside of court?
Shares are intact!
NOL's are intact!
Contracts are intact!
Why would anyone sell!!!?!?!
Hahahah a what a crazy world
No net proceeds from the CCAA for equity claims is the same as shares will be canceled!?!?!
Hahahah SMH
Please post anything that directly states shares will be canceled without using "assumptions"
They voted to unionize but never followed through with the process before filing for restructuring proceedings
Ccaa is ending, PWC is being discharged
and.....
SHARES REMAIN INTACT
NAH
Worthless in your "opinion", not factually though.
BioAmber INC held intelletual property and contractual rights and licenses.
BioAmber Sarnia was the operating company which licensed its technology from BioAmber INC.
BioAmber INC still holds those contractual rights after the CCAA, so they could still sublicense them to a company, Yes they can.
Is that is a going concern....?
YES IT IS
Empty shell(S) now is it... interesting so all these "empty debt-ridden shells" remain intact and have not dissolved under the CCAA. In fact even in February 2019, PWC was signing off on Annual reports for "empty debt-ridden shell" BioAmber BioChemicals which is never mentioned once in any PWC documents or court document...
Complex Restructuring
Get ready
HHAHAHAH
"deciphering" LOL SMH
with no links or screenshots provided except the odd " I'm right 100% of the time"....
BIOAMBER GROUP OF COMPANIES HAS BEEN RESTRUCTURED