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Well screw it I'll hold anyway on the basis of I cant read legal papers to save my life. If I lose I lose oh well.
Not throwing doubt just disbelief the whole company sold for 4.3 million. I thought initially it was only for US assets but it doesn't read that way or did I miss that line. Its like reading stereo instructions.
I went to the pacer monitor website with all Bioamber stuff the last entry was July 6, 2018 saying bankruptcy case closed. Seriously do you know where this document originated from?
So all assets were worth less than a fast food franchise lmao man that seems so hard to believe.
My thoughts too I mean I checked PWC nothing on there under court docs no update about it nothing. Why is that and the price just happens to be left unredacted. Where is that from is it even real?
Why is this court motion not listed on PWC website? Theres nothing at all on there about this not even an update about submitting this for US court approval. Where did this come from?
So what is this all a hoax? LMAO I mean seriously somethings super weird here they go through such lengths to keep this all secret and its just dumped out there like this? Why hasn't the stock tanked to .0001? so odd.
So according to the Exhibit B section 11 I think number 11.2 those numbers were supposed to be redacted. So why are they not redacted seems like a major oversight FUBAR on someones part. Somethings not adding up here but I read through it sure seems like its the Purchase Price for all assets. I tried to find something saying that was the amount for just the US assets did I miss it? Did they really buy this whole thing for 4 mil???
SO inevitably most will be locked up and held and the price will just keep bumping up till someone has had enough and sells. Could 50$ or 100$ etc.
Don’t you love it when court documents meant to be clear and concise lead to endless interpretation. Lmao fricking ridiculous 4.3 mil what bs anyone believing that is for the whole company needs to stop and breathe a minute and reread that thing.
So what happens when shares are so tight like this and no ones willing to sell? Newbie question.
Yeah what report are you referring to 4 or 5 that cookie cutter legal cover your ass jargon cause that verbiage isn’t in the last report read number 60 on the sixth report and come back and tell me this.
Hell the dip and comerica debt was like 13 million and it’s covered by the sale this is being spun it’s not 4.3 mil for all such bs. Simple logic people the monitor report stated clearly creditors will be paid among other things 4.3 mil give me a break. Even if you can’t undertand the docs use simple math to determine that price isn’t for all assets.
Ughhh just pissed I’m working nights and was sleeping and missed that dip!!! Damn I could of sold and bought back at double my shares!!! Sighhh I’m horrible at trading stocks.
Yeah it also says the us assets were minimal compared to the companies assets as a whole. Then ask for approval so they can continue without interruption the remainder of the sale. This was a small hiccup and annoyance they needed to get out of the way to proceed with the real sale. They had to clear his portion in the US bankruptcy before they could sell.
Well I know everybody wants in on this so I’ll give it a try see if I can get any. Man I should of followed that alert I saw last night I just ignored it wrapped up in that bio drama.
I read that article seems like a good play, just wondering if anyone will be able to get shares before any significant spike. Gonna try first thing to lock some down hopefully. Question though I mean there is a chance this may not settle and go to trial right? Which means a delay of an unknown timeframe on the settlement.
Yeah I know ill informed trying to play catch up not sure what happens exactly if there’s a price correction over 100pps. Some said it could halt but most likely not in the otc and price correct.
So if the ruling comes back and it’s at $500 pps what happens? Do we sell at that or is this just paid out and shares cancelled I’m not following what will happen.
Post that statement from the last monitors report it’s not in there or I missed it. You may want to call PWC and let them know they accidentally left that part out of this last report.
Well man I’ll see ya here on oct 26 to see who’s right and who’s wrong if I’m wrong I’ll fedex ya a beer or other preferred beverage.
I feel very confident that if we were squashed they would have just spelled it out because they would have had to as part of the deal for the judge to sign off on. It’s just common sense the judge would want to know what the deal covers in detail.
Really did they release another update stating that, or are you just regurgitating the same old cookie cutter legal jargon from old reports but seems to be left out of the newest report.
Well looks like cost would include paying all debts to me also. You agree?
Now now your inferring that, that’s your opinion and 60 does not say u secured creditors it just says creditors. You like to quote things quote that item 60 and break it down for me please. If not please stop inferring your opinion bankruptcy is based on facts remember.
Oh it’s not a guess it says it but the part about commons getting nothing is no where in there so if you want to stop pushing that opinion if it’s all based on facts. I stated facts read it how you want your in denial item 58 you interpret how you want. You can’t argue with number 60 it states clearly debtors will be paid and there’s money left for “other things” as well now tell me I’m making it up. You have your agenda man that’s fine but the part about commons not getting paid is not in the monitors report and is a flat out lie.
Item 60 on the monitors report spells it out clear as day. Literally says “AMONG OTHER THINGS the Visolis transaction provides an immediate recovery for creditors on the sale of the vast majority of the companies assets.” Seems pretty clear after creditor are paid there’s money left over for them “other things” aka shall we guess fees, commons etc?
I believe item 58 was a comparison paragraph if you read it closely it was comparing Visolis to the other bids. The part about none of the bids have any recovery for unsecured debt was relating to the alternate bids not Visolis. Item 60 says it clearly that the Vislois transaction offers immediate recovery to creditors from the assets sales. It says creditors not secured creditors. If it only covered secured it would have spelled that out. In a nut shell Visolis strategic offer was the only one to offer immediate recovery to creditors the other strategic offer most likely covered creditors but they would not amend their bid to upfront cash and wanted forward payouts to creditors which is why they lost the bid. Read item 60 and 58 again carefully more so 58 youll see where PWC makes the comparison of Visolis to the alternate bidders. the second sentence is pertaining to those alternates not Visolis. Item 60 states clearly Visolis transaction will cover creditors.
Ok so you have to read this the right way the PWC report is tricky worded but on page 15, item number 58 and 60 I was like they contradict each other. The reason is item number 58 is saying that Visolis bid maximizes the secured creditors recovery as opposed to the other bids basically. The next part is basically saying the other bids were not sufficient to cover the creditors only enough to cover the secured creditors. That part of item 58 is not even talking about Visolis if you read it, its reffering to the other bidders. Item 60 also clearly states that the Visolis transaction offers immediate recovery for creditors not secured creditors only but CREDITORS on the sale of the companies assets. I had to reread this several times till I understood what it meant. A lot of people are reading it as Visolis only covered the secured debt but that line refers to the alternate bidders not Visolis. Item 60 is clear as day they say that Visolis transaction offers immediate recovery to creditors based on the asset sales, not just "secured creditors" but all creditors. If it only covered secured they would have worded it that way.
Well were both on opposite sides of the fence here man. I understand your points as to the last one. They chose the highest bidder so are they really worried the other bidders would see the bid and low ball them if they had to open it back up? I doubt it but to each their own opinion man. I have a small position I am not to worried about losing a couple grand its always a gamble. Good luck in your trades.
No secrets nothing hidden then why was the buyout price redacted? Answer one question for me then do you know what numbers under that black box?
I know they said that but why isn't that statement in the 6th report? Have you asked yourself that question. If it is please tell me what page cause I completely missed it. I agree the fact that they couldn't pay the unsecured debt is odd. I just cant believe they received only a 13 million bid for the plant, so many things don't add up. Then all the US assets vs Canada assets stuff. Theres no way they received a total bid of less than 14 million for all assets I don't think anyone believes that something else related to the creditors is going on that we don't know.
Wouldn’t you say the price action is primarily due to the fact that no one really knows what’s going on or what’s going to happen? The people saying it’ll fail really don’t know it will fail and the people saying it’ll pay out really don’t know either. Unless I missed it no one flat out said commons are getting 0. All anyone’s doing is associating past trades and applying them to this setup but bottom line is no one has a crystal ball of what the purchasers intent or bid is. Just speculation on everyone’s part even mine, I feel commons will be ok mainly due to the fact I didn’t see their standard verbiage about equity holders most likely won’t receive anything. They did mention the unsecured debt but left off the equity holders. I have a feeling that the setup whatever it is may surprise some people but just an opinion. Good luck everyone
How does it work, after October 26 the deals done money transferred etc and what on the 27th we just have money in our accounts and our shares gone? How did chemtura play out?
Having money doesn't mean you like losing money. Didn't he buy a bunch of shares recently within the past 6 months also?
Because its the only way that commerica gets anything. IMO Eno knew they had no claim over the US assets and knew the intellectual properties were way more valuable than the plant. Without them the plant is well a plant without the Cargill yeast license at that. Eno may have played the system to his advantage I doubt he was looking out for us but rather his own common shares he holds.
Well maybe not the courts have the numbers now and chances of a leak are way higher now. But yes 5 more weeks ugh gonna be forever seems like. Well heres to a positive outcome fingers crossed!
The way the monitor report read was no numbers released till the deal done I took that s October 26, 2018? Am I wrong about that?
I am holding shares and think commons will receive something. I do wonder though why if the bid to be assumed is more than 100 million would the debt not be able to be paid? I assume again its due to the assets being bid on in lots pertaining to Canada and US separate assets. So the plant bid was only 13 million give or take to cover dip financing and comerica syndicate debt? They have so much information in the monitor report yet tell us nothing really. I will say if commons were getting nothing we should of seen some sort of reference to it whether reffered to as equity holders or just common shares. I feel they would have said something about us getting nothing and I don't think we are debtors being referenced here. In past reports it said no residual value left for unsecured debt/equity holders. It does reference unsecured debt but the second part was left of and its only debt related to Canada. So were the US assets just valued that much higher? I guess per the report we will find out nothing till after October 26, 2018 officially. IMO to many blanks left to be filled in to abandon ship.
It’s all up to speculation I don’t think they shifted their bid from US to Canada the pwc report says they increased the overall bid the way I interpreted it. My comforting part was I didn’t see the “ no residual value for equity holders” line. Just no value for non secured debt relating to Canada assets. I don’t think they want bioamber as a name but I could be wrong. They obviously want the NOLs otherwise why create another company based in Canada? I could be wrong but I saw someone post LCy or whatever voted to go private when they were bought out and I believe Visolis is privately held also. So do they want a publicly traded company I don’t think so. Most likely outcome imo is we get paid the remainder proceeds from the sale of assets and that’s that. But hey it just one mans opinion and I’m by no means a stock wizard just my 2 cents.