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Why did DSM disappear off the service list?
Why would DSM want off the list?
Why was DSM on the list in the first place? (no, not because of Reverdia)
Why wasn't LCYB added to the bottom of the list?
Why did LUC MORIN of Norton Rose Fulbright suddenly drop representation of DSM and start representing LCYB?
Weird DSM was added to the CCAA Service list for no reason June 21st...
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-013_062118.pdf
Weird the Service List was updated after the approval of the Visolis Transaction and the Purchaser is now in DSM's place...
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-034_100418.pdf
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-043_120718.pdf
Yes and Bio-amber.com's mail and web traffic are being directed to lcy-biosciences.com which is registered to LCY Elastomers... Your starting to get it... There all connected. Also don't forget about all those Key employees like Paul Peterson the head of the commercial team who stayed with the company for a smooth transition to new ownership... Is Paul lying? Did you stay around for free? He is now an employee of the new ownership!! VP of Global sales to be exact. Remember that Key employees would only stay with the company if the Kerp charge was paid. In order to pay those key employees all secured debt must be paid in full in cash... Hmmm
Since your familiar with CCAA proceedings, can you tell us why only 1 patent has been assigned to the Purchaser and Bioamber Sarnia is still the owner of the land?
Also what value do you think the contractual rights hold?
How could the parties in discussion with PWC obtain these contractual rights?
What is the ~$91 million investment Bioamber Inc holds??
Please post proof that the NOL's cannot be used...
PWC said they were an asset of BioAmber so why would they be worthless...? Is PWC lying and falsely said they were an asset....? Or is the cancelation fantasy unwinding...
Please post proof of the IRS tax code or the Bankruptcy Laws that saw shares will be canceled and NOL's are worthless...
No link will be provided because these things don't exist...
Heres some light reading from the Canadian M&A Report published by the firm filing BioAmbers court docs...
Remember Marc, One of the Best Lawyers in North America is working on this restructuring...
Why was Bernard able to sell tax losses in a previous CCAA proceeding..??
Once again falsely using this "$80+M debt" figure...
That was debt at the outset of the CCAA proceedings and the majority of it comes from recent financials(from December 31, 2017)... Talk about outdated!
The most recent financials for BioAmber Inc were released on June 8th in the US courts...
Here is BioAmber Inc's Financials as of June 8th, 2018. The most current financials of BioAmber Inc after a record-breaking Q4 2017 and Q1 2018:
What are Engineering Plans for Plant 2....?
Why is the construction under progress including in the companies assets...?
Could you please post the IRS Rule 269 that prohibits BioAmber's Asset of Tax carryforwards from being worthless??
The last I checked they will eventually resume the operations of the Petitioners and manufacture bio-based succinic acid products...
Why has only 1 patent been assigned to LCYB(The purchaser)....?
Why haven't the trademarks been assigned to LCYB....?
Why is BioAmber still on the Sarnia Land Title....?
Zero relation...
You'd have better luck with scratch tickets if you think it's related to BIOAQ because the numbers 125mil and 129 mil are similar...
The 11th Report, from March 11th, states that PWC is working to realize value from an acceptable acquirer from the contractual rights with MCC, Reverdia, and Cargill...Discussions with one party on this front are being CONTINUED.
THIS IS A COMPLEX RESTRUCTORING
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-053_031119a.pdf
PWC's claims in their unaudited Monitor's Report, things like "anticipated" and "does not believe"... Very Vague Terms... Yet PWC was still working on realizing value from the contractual rights...
At the March 15th, Court Hearing in room 15.12 at the Montreal Courthouse Christian Bourque stated that PWC is in NEGOTIATIONS with 2 parties regarding these contractual rights!
WE CAN'T FORGET WHAT PWC'S ROLE IS HERE AND WHAT THEY ARE REALIZING VALUE FROM... $4.3 MILLION IS NOT REALIZING VALUE FOR A FEW HUNDRED MILLION DOLLAR TOTAL ENTERPRISE VALUE COMPANY!
YES, THOSE TAX LOSS CARRYFORWARDS ARE AN ASSET AND YES THEY CAN BE SOLD!
JUST LIKE BERNARD BOUCHER (BIOAMBER'S COUNSEL UNTIL FEB 27TH) HAS DONE IN THE PAST THROUGH CCAA PROCEEDINGS
THIS IS A COMPLEX RESTRUCTORING
THIS IS A COMPLEX RESTRUCTORING
THIS IS A COMPLEX RESTRUCTORING
Can you provide a link or any docs to support this?
Why were the Assets sold "free and clear" in Otcober 2018, yet they still don't own the Plant as of April 1st 2019...?? That is not how ownership works. The assets are not sold free and clear based on the closing of the CCAA proceedings hahaha
Why were Ontario Land Transfer Taxes paid... yet the property wasn't transferred to them yet? I would hate to pay for a house and taxes but the previous owner gets to keep their name on the land ownership...
The Monitor's Certificate has been signed and provided? what else is needed that PWC has overlooked?
Why would the Purchaser have to wait for the CCAA to be concluded? I thought $4.3 million was everything??
credit gocongc
In that article, it says 6 months to a year... Not "up to a year or more"... That article is from Early November 2018 after the Visolis transaction had closed... Its been 5 months and LCYB still doesn't have their name on the Ontario Land Ownership...
A recent report was released in March by Sarnia Lambton Workforce Development Board with consultation with local companies including LCYB...
LCYB states they will CONTINUE to produce BioSA at the Plant AND other products.... Just like was stated in the LOI for Investment in BioAmber.
http://www.slwdb.org/publications/research-reports/
http://www.slwdb.org/wp-content/uploads/2019/03/The-Emerging-Bio-Industry-in-Sarnia-Lambton-Report-2.pdf
Still no links/docs/screenshots to support the share cancellation fantasy or imaginary bankruptcy laws...
Here, PWC is continuing discussions with one party... 5 months after the Visolis Transaction closed...
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-053_031119a.pdf
MARCH 11th 2019
Posts that lack zero substance or links...
TALKING ABOUT THIS $80 MILLION CAD STILL??
WHAT ABOUT THE $14 MILLION USD BIOAMBER REPORTED JUNE 8TH 2018?
THAT LINKEDIN PROFILE IS THE HEAD OF THE COMMERCIAL TEAM THAT STAYED WITH THE COMPANY THROUGHOUT THE PROCEEDINGS AS PER THE KERP CHARGE!
THE SAME KERP CHARGE ALL AMOUNTS OWING HAVE BEEN PAID ON
WHY ARE THE KERP AMOUNTS NOT ON CASHFLOW FORECASTS??
WELL PWC TELLS US WHY IN THE KERP MOTION.
LET ME HELP YOU UNDERSTAND
AS STATED IN THE 9TH MONITORS REPORT FROM DECEMBER 2018.
IT IS NOW APRIL 2019, THE MOST CURRENT MONITORS REPORT STATES.
THE MONITOR IS NOT"GETTING RID OF THEM". THEY ARE WORKING ON REALIZING VALUE WITH AN ACCEPTABLE ACQUIRER OF THE COMPANY...
THESE AGREEMENTS HAVE PROVISIONS THAT PREVENT BIOAMBER FROM "SELLING" OR "ASSIGNING" THEM WITHOUT THE OTHER PARTIES CONSENT.
THE US JUDGE HAS RULED THAT NO CONTRACTS CAN BE TERMINATED BASED ON BIOAMBER'S CURRENT RESTRUCTURING PROCEEDINGS.
BIOAMBER EVEN HAD TO REMIND REVERDIA OF THIS...
THEY CANNOT PRODUCE BIO SUCCINIC ACID, NOT CORN SLUDGE, WITHOUT THOSE AGREEMENTS.
LCYB HAS STATED THEY WILL CONTINUE PRODUCTION OF BIO SUCCINIC ACID.
SEEMS PRETTY SIMPLE.
LCYB IS REQUIRED TO ACQUIRE THOSE CONTRACTUAL RIGHTS, NOT "CONTRACTS" LIKE WHAT HAS BEEN REPEATEDLY POSTED.
NEW OWNERSHIP.... I THOUGHT BIOAMBER WAS DEAD, STICK A FORK IN IT...
WHY ARE PEOPLE STILL HOLDING $2MILLION USD OF STOCK IN A COMPANY IF IT WAS TO BE DISSOLVED?
WHY ARE PEOPLE CONTINUOUSLY SAYING SHARES WILL BE CANCELLED WHEN THE COMPANY HAS NEVER MENTIONED SUCH A THING...
WHAT IS ON THE LCY CONFIRMATION LETTER FOR THE VISOLIS "LOI FOR INVESTMENT IN BIOAMBER"?
THESE ARE QUESTIONS THAT SHOULD BE ASKED.
BIOAMBER COULDN'T OF FILED FOR BANKRUPTCY IF THEY REPORTED THE Q1 EARNINGS...
THEY FILED TO AVOID REPORTING AND GET PROTECTION FROM THEIR CREDITORS TO RESTRUCTURE THE COMPANY.
VISOLIS SUBMITTED A LOI FOR INVESTMENT.
NOT A SINGLE LINK OR DOCUMENT TO BACK UP A COMPLETE LACK OF UNDERSTANDING OF THE COMPANY
IS LCYB USING THE FACILITY TO PRODUCE BIO SUCCINIC ACID?
YES
OR
NO
SIMPLE QUESTION.
SIMPLE ANSWER
YES THEY ARE.
HOW DO YOU PRODUCE BIO SUCCINIC ACID?
WITH A 30,000MT PLANT, NON-ASSERTION AGREEMENTS WITH MCC AND REVERDIA(DISSOLVED AS OF TODAY) AND A TECHNOLOGY AND LICENSING AGREEMENT WITH CARGILL.
IS PWC WORKING TO REALIZE VALUE FROM THESE CONTRACTUAL RIGHTS?
YES
OR
NO
SIMPLE QUESTION.
SIMPLE ANSWER.
YES THEY ARE.
HOW DOES AN ACCEPTABLE ACQUIRER GET THESE CONTRACTUAL RIGHTS?
THROUGH A CHANGE OF CONTROL TRANSACTION, IE SHARE SWAP, SHARE PURCHASE, REVERSE-MERGER... LOTS OF DIFFERENT WAYS
PWC HAS STATED THAT THE COMPANY(BIOAMBER) STILL OWNS THESE RIGHTS.
LCYB NEEDS THEM, IT'S SIMPLE.
MARCH 11TH,2019
Please post any supporting documents that "shares will be canceled"...
Numerous Docs and links have been posting over the last 11 months that support the current Restructuring of BioAmber.
Accusing PWC of false claims and lying to the courts is a very outrageous claim... It would make more sense that those who believe the cancellation fantasy are the ones with false claims and lies...
As per the most recent Monitor's Report, The 11th dated March 11th, 2019.
PWC further discussed these contractual rights at the March 15th court, except noted that discussions with 2 parties are ongoing...
3 Months after PWC identifies the contractual rights, they are finally seeking to realize their value now by continuing discussions...
In the 9th Monitors Report, PWC cautioned that Realizing Value on behalf of these contractual rights was based on an "ACCEPTABLE ACQUIRER"...
WHAT VALUE IS PWC REALIZING?
The Purchaser requires the Mitsubishi Chemical Corp Non-assertion agreement if they wish to continue producing BioSA at the facility...
LCYB has expressed numerous times including recently that they will continue to produce BioSA at the plant...
BioAmber Produced BioSA at the plant's nameplate Capacity in 2018 Q1...
BioAmber did this and then voluntarily filed for Restructuring proceedings to avoid reporting the Q1 results. By doing this BioAmber was able to get the courts protection from creditors and it proved to potential purchasers that the plant could produce at full capacity and provided all data to those who signed an NDA and wanted access to the Data Room. The Sarnia facility is the largest and lowest cost producer of BioSA in the world.
~$9.1 Million in A/R in just 10 weeks from January 1st to March 11th!
"BioAmber is in the midst of a complex restructuring"
BioAmber would've filed their best Quarter ever, instead filed for Voluntary Protection from Creditors! The share price would've Skyrocketed if BioAmber reported these earnings!
BioAmber was producing BioSuccinicAvid at near Plant capacity (30,00MT Annually) during Q1 2018...
Estimated Sales for 2018 would've been roughly ~$48million USD if they continued to produce at full capacity.
Where is the LCY Confirmation Letter???
Investment in BioAmber
Ultimate Shareholders of the Company will benefit from the ongoing restructuring...
Cash flow Forecasts end this week...
Wrap up/Closing matters...
Funds will be available for distribution to unsecured creditors...
Shares will not be canceled unless from a share swap...
No link or doc to "shares will be canceled" "US BANKRUPTCY LAW" or "THE LAW" can be provided.
COMPANY IS GOING THROUGH A COMPLEX RESTRUCTURING PROCESS WITHIN THE CCAA PROCEEDINGS WHICH ACTS AS THE MAIN PROCEEDING...
BIOAMBER STILL HOLDS ALL OF ITS CONTRACTUAL RIGHTS AND IS CONTINUING DISCUSSIONS WITH 2 PARTIES CURRENTLY...
BIOAMBER WAS NOT "LIQUIDATED". Its assets were sold in the first transaction in a "Liquidation scenario" Sales process... The company is not a shell...
We are fast approaching the conclusion/closing matters of the CCAA proceedings along with the US Chapter 15, which simply recognizes CCAA as the Main proceeding after the Chapter 11 was dismissed and terminated...
PWC must provide cash flow forecast as long as they are acting as the court-appointed monitor for BioAmber...
PWC's cash flow forecast shows Disbursements and General Provisions ending this week... March 29th, 2019
Many Key BioAmber employees are now revealing they have switch employment to the "new ownership"...
Visolis has retained the commercial team along with the facility and key Research staff in St. Pauls...
LCY BioSciences has confirmed they will continue to produce BioSA at the Sarnia facility...
In order to continue to produce BioSA, An acceptable acquirer would have to be assigned or transferred contractual rights like the MCC and Reverdia Non-assertion agreements. PWC mentioned in the March 11th Monitor's Report that discussions have continued on this front...
LCY was unable to have discussions or acquire BioAmber until February, after they delisted and had gone private with KKR...
BioAmber has an offtake agreement with Comet Biorefining and owns >6% of the company... Those shares were included in the Visolis APA...
The Comet shares alone are worth more than the "$4.3 Million upfront purchase price".
CCAA IS ENDING VERY SOON, SHARES WILL SURVIVE
LAST WEEK TO BUY!!
SHARES GOING TO BE CANCELLED OR ARE THEY GOING TO BE WORTHLESS...??? POST DOCS TO PROVE IT
BioAmber is in the midst of a complex restructuring...
As we know from previous Monitor Reports, all amounts owing that are subject to the KERP charge have been paid as of December 12, 2018.
The Third Amended and Restated Initial Order subordinated the KERP charge to the interim lender and Secured Claimants...
One LOI submitted that expressed the Need for KERP indicted that Mike Hartmann along with the commercial team would be transferred to BSI or a US entity...
Paul Peterson was Head of Global Sales for BioAmber and lead the commercial team...
He has now been transferred to Visolis in the same role as he previously held at BioAmber.
Paul updated his Linkedin to show he stayed with BioAmber throughout the restructuring to ensure proper commercial transition to the new ownership!
The Kerp has been used, otherwise PWC would have zero reason to mention it in a Monitors Report to the court after the closing of the Visolis Transaction...
VISOLIS has taken over Bioambers St Paul facility and multiple key Bioamber employees have now indicted they are employed by Visolis or LCY
The company was never in liquidation... Always CCAA. "a restructuring specialist" has been brought in....?? Pwc has had a team working on this since day 1, Noone brought in. Pwc has acknowledged contracts have value??? Pwc is working on realizing value from the companies contractual rights like the Cargill licensing agreement and non assertion agreements with MCC and Reverdia... What contracts?
FMV $1.64 is a made up figure that someone estimated and continues to be promoted. It is not a factual number and never came from PWC...
Longs are safe... Tip for everyone, read all docs and understand your investments
"The main difference between a CCAA filing and the alternative is that receivership or bankruptcy means the company is no longer a going concern. Do not confuse court-ordered protection from creditors with a bankruptcy filing. Under court-ordered protection, the company is trying to continue operating. In a bankruptcy filing, an insolvent company is liquidated by a trustee."
BioAmber is under court-ordered protection from creditors(CCAA), not BANKRUPT!
All traffic/emails from www.bio-amber.com is being redirected to www.lcy-biosciences.com...
www.lcy-biosciences.com is owned by LCY Elastomers...
Cliferd Menezes is the General Manager / CFO at LCY Biosciences Inc...
He also currently holds the title of Director of Finance / Deputy General Manager at LCY Elastomers....
Clifered is also on the Quebec registry as the CFO / General Manager for LCY BioSciences...
Bowei Lee is the Chairman of LCY GROUP....
Bowei Lee is also the Chairman of LCY BioSciences....
Bowei LEE was in the US for meetings in February, specifically the BAY AREA
The 12TH Monitors Report...
Spring showers... Bring Billion Dollar Bio Investment ceremony flowers...
TransAlta Bluewater Park website is down...
https://www.bluewaterenergy.com/
Arlanxeo Bio Industrial Park website is down...
http://www.bioindustrialparksarnia.com/
BioAmber is in the midst of a complex restructuring
PWC - March 15th, 2019 - Montreal
Great Post KOAN!
I would love to see shareholders who anticipate a FMV $1.64 PPS hitting the ask to raise the price for once...! Works a lot better than waiting/praying as most have for something to happen after buying at pennies and not knowing much about the company or the CCAA proceedings...!
If anyone is still asking silly questions this late in the game... you need more than a pray! It helps to know the company and what you're investing in first!
DO YOUR OWN DD AND READ ALL DOCS!