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.
Inform them of the outcome of the CCAA Proceedings...
After all the complaints to FINRA last week, PWC released this report in response...
It would say they would be informing FINRA of the deletion of the ticker if that was the case! No need to hide it.
BioAmber shares are not in the purview of the Monitor, PWC.
Please post only stuff that can be document supported...
Chapter 11 DISMISSED.
BioAmber Inc is not Bankrupt.
The Shares are connected to BioAmber Inc.
The Shares are not in the purview of the Monitor.
BioAmber Inc has been able to continue to use existing cash management and bank accounts during the CCAA...
BioAmber Inc is in Chapter 15 to recognize the CCAA as the Main proceeding for the sale of the US assets only, nothing more.
Net Realized Value...
Thanks trader, I always forget how much debt it is, number seems to change to, the creditors must be reeping all the benefits of substantial losses because of little recovery....
Dude... Read the real stickies and all the DD that has been posted. All facts not just opinions...
Please don't try and twist my words for your benefit...
They are currently in Ccaa proceedings. Chapter 11 bankruptcy was Dismissed. The current Chapter 15 is to allow the Ccaa to act as the main foreign proceedings to allow a sale of the US assets...
The Canadian CCAA motion that clearly states 2 strategic buyers for the business as a whole...
They filed their NOI in May and thats when the CCAA proceeding commenced shortly after... not bankruptcy...
STILL IN CCAA proceedings...
People should read THE LAW
That's almost as vague as some of PWC's wording...
She probably didnt "anticipate" bids to sent to her when the Call for Bids said Christian was the contact...
On the "Call for Bids" the contact info to submit a bid is Christian Bourque, PWC...
On the Visolis LOI for Investment for Bioamber, it is headed "Attn: Christine Pouliot, Managing Director, PWC"
Christine's role is to provide Strategic advice throughout the project. She will have contact and dialogue with local and global potential investor and key players...
Here is every service list starting from May until after the September Order approving the Visolis(NewCo) Transaction.
The May 28th Service List
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-006_052818.pdf
DSM is added to the June 21st Service list:
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-013_062118.pdf
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-014_070918.pdf
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-017_071818.pdf
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-020_072618.pdf
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-021_073118.pdf
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-028_090418.pdf
DSM is replaced with NEWCO and Cargill is added to the October 4th service list:
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-034_100418.pdf
Woods LPP added to the service list October 16th
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-036_101718.pdf
Crane LPP added to service list October 23rd
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-039_102418.pdf
Follow the timeline of the updates
Did it ever occur that maybe they cant sell that "Off-spec" inventory because BioAmber is no longer going to use Cargill's yeast in their production...
DSM's low ph yeast offers better results and would be more cost effective in the long run...
Were looking at roughly $500,000 worth of product, disposed of after the Call for bids which resulted in 2 strategic buyers for the business as a whole...
Why wasnt this "corn sludge" disposed off before?? Where did it come from?? Why was BioAmber allowed to continue to pay to store it in a warehouse during the CCAA proceedings if it was just "junk corn sludge" that noone wanted...
DSM...
LCY...
VISOLIS...
Will be disposed by mid-January.....
Inventory has been disposed of or sold to third parties....
Its mid-february...
Business as a whole....
YES thats been explained numerous times....
2 Transactions...
1st was for the assets....
2nd is for the remaining of the business to make it "whole"
Id suggest doing some reading of the documents
Thats one way to invest... lol
I'd try reading the documents instead of just the date of them..
Vesting order for the ASSET SALE
Monitors Certificate for the ASSET SALE
Closing of the ASSET SALE that has been SIGNED off on by 2 courts
LOL NO THATS FALSE!
you just linked the July 27th Motion which is:
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-022_080118.pdf
PWC put the wrong link for the August 22nd Motion, it can be found here:
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-025_082918.pdf
The proceedings cannot continue without a MOTION FOR EXTENSION FOR THE STAY OF PROCEEDINGS.
You notice the PDF file numbers.
The August 22nd Motion is -025, the August 28 Order is -027 which can be found here:
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-027_082918.pdf
The August 28 Court Order refers to the August 22nd Motion.
The Fifth Monitor's Report is -026.
The Motion was never available on the PWC's website. Why would a legally binding signed court document that furthered the proceedings be taken down?? PWC even mislabeled the file. It was never put up and linked! If that document were available when you clicked the August 22nd Motion was approved the PPS would be through the roof right now. PWC, BioAmber, and the lenders and worked with the Purchaser and Key Stakeholders "to allow for the best realisation" for the business as a whole.
The Motion that was signed and Notarized by BioAmber management and their lawyers.
PWC is playing games....
Here is the REAL link PWC tried to hide and continues to...
http://www.pwc.com/ca/en/car/bioamber/assets/bioamber-025_082918.pdf
Wont find it on this page...
https://www.pwc.com/ca/en/services/insolvency-assignments/bioamber/court-motions-and-orders.html
BUSINESS AS A WHOLE
Strategic buyers for the business as a whole....
The 10th Monitor's Report is right, there hasn't been nor do they anticipate any share transactions in the CCAA Proceedings.
The August 22 Motion for the Extension of the Stay of Proceedings can be found here
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-025_082918.pdf
PWC decided to post a duplicate of the July 27th motion in its place on their website. They even named the file "Fifth Monitor's Report" incase someone accidentally stumbled upon it.
https://www.pwc.com/ca/en/services/insolvency-assignments/bioamber/court-motions-and-orders.html
The missing pieces of the Puzzle are all in that Motion....
KERP...
BioAmber Inc can continue to use its current cash management arrangements and dismissed the Chapter 11 Proceedings...
Strategic buyers for the business as a whole...
Best potential realization for stakeholders....
Negotiate with bidders, and determine the best strategy going forward...
Allow the key stakeholders to evaluate the offers received in order tpo determine which offer will allow for the best potential realisation...
The Monito has asked the Petitioners to seek this further extension...
Mike Hartmann is the President and a director of BioAmber Canada Inc and BioAmber Sarnia Inc.... Where is Rick Eno the CEO of BioAmber Inc....
SHAREHOLDERS ARE SAFE!!
PWC has used specific wording in all documents.. you have to look at the whole picture!!
The $4.3 Million sale of the assets was deemed non fraudulent or undervalued according to filed court docs...
/
/
/
/
[img][/img]
This has been explained and posted numerous times...
The French Sales Order IS NOT The Canadian Sales Order!
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-030_091718.pdf
The Sale of the Company as a whole....
The French Sales Order....
Great Find Hole Shot King!!
LCY Biosciences.com is Bio-amber.com that means those daily stock quotes are from LCY Biosciences!!
http://dnstoolkit.net/nslookup/lcy-biosciences.com?recordtype=TXT
NEWS
11,223,344 shares of Common Stock held by Intracoastal Capital
https://ih.advfn.com/stock-market/USOTC/bioamber-inc-BIOAQ/stock-news/79222491/amended-statement-of-ownership-sc-13g-a
Yeah the PLR for Bioamber and LCY does...
Give it a read
3 Sections of the Internal Revenue Code are covered.
Section 355 Distribution of Stock and Securities of a Controlled Corporation - Spin-Off
Section 361 Nonrecognition of Gain or Loss to Corporations - Certain Transfers to Creditors
Section 368 Definitions Relating to Corporate Reorganizations - Assets for Control of Transferee (Type "D")
https://www.irs.gov/pub/irs-wd/201851005.pdf
https://www.irs.gov/pub/irs-wd/201851_idx.pdf
Bought back shares in the open market through Institutions and then Retained the shares for themselves to create a better capital structure and pay off debt and obligations.
Explains all the Institutions and Funds that had shares reported on MorningStar and Finra-Markets Back in September/October.
Its all in the PLR that is mentioned in Januarys PWC M&A Report
https://www.irs.gov/pub/irs-wd/201851005.pdf
Looks like Bioamber (Parent) authorized a share repurchase in order to achieve an appropriate capital structure and deliver attractive cash returns to shareholders.
Bioamber had institutions buy shares on the open market and retained those shares to settle borrowings (creditors).
Every transaction that has happened or will happen with Bioamber is in this PLR
https://www.irs.gov/pub/irs-wd/201851005.pdf
/
/
The Sale of The Company...
https://www.pwc.com/us/en/washington-national-tax/newsletters/mergers-and-acquisitions/assets/pwc-this-month-in-mergers-and-acquisitions-for-january-2019.pdf
Rick Eno has options for 1,000,000 shares that were vested and exercisable immediately following a change of control transaction.
Where are the August 31 emails annexed to the "Offer" or Schedule Recital F which stated that the Purchaser agrees to allocate $150,000 USD of the purchase price to purchased assets owned by the Debtor?
Where is the meaning of "Retained Bidders" as set out in Recital F?
Where is the meaning of "Offer" as set out in Recital F?
Where is the letter from LCY affirming the offer enclosed in Recital F?
LCY and Visolis are making an Investment in Bioamber Inc.
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-043_120718.pdf
Nothing fake about the documents...
https://www.pacermonitor.com/case/24653251/BioAmber_Inc_and_BioAmber_Inc
Dockets 30 and 17.
If you dont have a pacer account.
Docket 17 can be found here
Docket 30 can be found on PWC's website here
The French Sales Order is Real and different than the Canadian Sales Order.
FALSE
SHARE CANCELLATION FANTASY IN THE IBOX IS JUST THAT, A FANTASY!
Unproven false claims with no documents or valid links to back up those claims.
HOLD LONG AND STRONG MY FRIENDS
STAKEHOLDERS ARE SAFE
Content of IBOX Cancellation Update ought to be brought to the attention of PwC Monitor and Securities Regulators.
hahaha nope, false and proven wrong over and over again.
no links??
CCAA is acting as the MAIN FOREIGN PROCEEDING UNDER CHAPTER 15
Heres an update:
It looks like it was Ordered and Declared by the judge on October 10th that the Visolis Transaction is except from the application of the Bulk Sales Act (Ontario).
The Purchase and Sale of the Assets of a Business: How to navigate the Bulk Sales Act
/
/
/
/
The Bulk Sales Act was developed to protect trade creditors from a vender or debtor selling all of his assets and leaving its trade creditors unpaid.
The Bulk Sales Act applies to any sale of assets of all or part of a business, when the sale is not considered part of the ordinary course of business.
This Order stated the Visolis Transaction was not considered part of the ordinary course of business.
/
/
/
/
The responsibility is placed on the purchaser to ensure that the vendors trade creditors are either paid out in full or have waived compliance. A purchaser entering into an asset transaction will want to either comply, obtain a waiver of compliance or apply for an exemption under the Bulk Sales Act.
/
/
/
/
Compliance with the Bulk Sales Act can be avoided by way of application to the court requesting an order to exempt the transaction from compliance with the Bulk Sales Act. The courts only grant such an order in the case where unequivocal evidence is presented to the court which results in a conclusion that the transaction will be advantageous to the vender and that it will not impede the venders ability to settle its debts with any of its trade creditors.
ALL STAKEHOLDERS WILL BE PAID
Bioamber And PWC
All amounts owing that are subject to the KERP Charge have now been paid
Visolis already found the Bioamber Sarnia Plant as per Deepak Dugar's Presentation at the Spring Summit in early May 2018.