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She is, without a doubt, the brightest piece with which to build a bull case.
I can't believe how slowly the realization is manifesting on this one. The October conceit comes from a comment in a failed bid during the 1st recapitalization attempt that did not result in a deal that it would take 2 years to merge operations. That anyone would be hanging any hopes that that means there is some magical date on the 2 year mark that finally flies in the face of all the stated terms in all the Monitors reports from 5 on detailing the liquidation is beyond me.
Just not today. Never today. Very important.
Detailed reports on how the restructuring went are available on the Monitor's website.
No one to cancel it. So it “worked itself out naturally” with the deletion.
Fair enough.
There is no growth story here currently. That doesn’t mean there will never be. Don’t shoot the messenger.
I suspect the price is trading in proximity to, but not at, the offering price due to the risk it doesn’t close. It’s normal when an acquisition is announced for the price to creep toward the announced price with a delta based on the perceived closing risk.
Question for you: previously you mentioned that the stock was trading substantially lower than fair value on the basis of lack of awareness. Now you’re using the trading volume to, I guess, perpetrate the notion of future appreciation. Why have you and will you after this action is over use this idea of low trading volume as an indicator of untapped potential when it is clear that whenever there is money to be made around an action here there is absolutely no shortage of eyes and willing players?
Without any real news or announcements about the business itself, I’d venture to say that 100% of the activity are attempts to time the announced corporate action, a “short term” angle.
Or bankrupt, per the same description of “Active”.
Crazy day. I have no theory to explain it.
Correct. There is nothing bad coming. The activity is over, I.e., bankruptcy closed.
It wouldn’t be a BIOAQ morning if people weren’t bowing out of losing arguments.
There you go. Keep it in the future, no matter what, and you’ll be fine.
Just make sure you don’t make reference to anything that happened or is happening now. Always in the future. VERY IMPORTANT.
Oh yes the active deception conceit. The idea that LCYs lawyer went to the trouble of writing a letter that appeared to be a public declaration of worthlessness like all the others but actually meaningless because it was cleverly worded to only referred to a subsidiary while they were plotting their windfall to go toward the parent co?
LCYs lawyer wrote a “to whom it may concern” letter specifically to address any possible misconception or confusion about the prospect of LCYs continued connection with the liquidated company(is).
This is nowhere.
The article states that it is possible to structure a stock purchase as an asset sale to enjoy the step up in basis for the assets being purchased, not that you may incorrectly report the consideration paid for said stock or assets, as elected.
4.34M was the consideration here, it closed and was distributed, and nothing has been heard from the shell since (and never will).
The winning bidder was reported publicly and ultimately the signed result was provided. That should settle any inconsistency.
Factually it was an embarassment again, but it should not have been censored.
Well understanding isn’t the problem. Finding a shred of possibility is the problem.
“The liquidation of the Company’s assets will result in little to no residual value for non-secured creditors, and no residual value for equity investors of the Company.”
https://sec.report/Document/0001193125-18-309191/
So they make this deal, resign and then make this public report? So we are talking the most obvious fraud case in history?
A steal? Depends who you ask. They were the highest bidder out of anyone in the world who could have bid on the assets. Most thought it was worth less.
“The liquidation of the Company’s assets will result in little to no residual value for non-secured creditors, and no residual value for equity investors of the Company.”
https://sec.report/Document/0001193125-18-309191/
So you must believe they lied on this, their last SEC report?
The entire family was harvested to extract maximum value (I.e., the purpose of bankruptcy).
Yeah.
APA- page 3. This is the one they SIGNED.
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-043_120718.pdf
Not that any more commentary is necessary after the foregoing, but I’m sure in the call for bids there was a focus on the assets that would be bid on, namely, the one plant that was built.
The bankruptcy is closed.
There is no such qualifier on the quote.
You think its a "soddy argument" that the short interest at the time of deletion was a negligible 3K, or that anyone with a short position would have sold at a penny during the time it hovered there, which was one penny away from a maximum gain on a short position?
Why wouldnt you believe the company 8k that said that shareholders got hosed? What is the purpose of 8ks if they are not to be believed?
There were some 55k shares short I believe which at 6 cents each would be a whopping $3300. Essentially there was no short position left.
No I don’t believe anyone could have predicted the date of the deletion, which is why the short interest was so negligible. Like I said, anyone paying attention would have closed out their position at a penny since there was no further upside to their position.
When this got shut down there was 3k in short interest. Anyone who was paying attention and shorted this had months to close it out at a penny, and getting the extra penny wouldn’t seem worth the time to wait until the liquidation closed out.
I’d love to see what it says in an account of a short position. Can’t imagine brokers would make anyone wait this long though. The IRS would have wanted income tax on the position in 2019 as the gain should have been booked for 2018 or could even be subject to penalty.
Since neither of us are omniscient, we rely on these public documents for information. It’s the ONLY way to create a fair environment for investing. The Company’s statement:
The liquidation of the Company’s assets will result in little to no residual value for non-secured creditors, and NO residual value for EQUITY INVESTORS of the Company.”
Why don’t you believe this statement from the Company?
How could your response to this:
“The liquidation of the Company’s assets will result in little to no residual value for non-secured creditors, and NO residual value for EQUITY INVESTORS of the Company.”
begin with the word “If”?
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHHAHA
This is a public statement from a company in bankruptcy. The word “almost” is followed by “certainly”.
This is like saying in the famous scene from “Dumb and Dumber” when the female character tells the character played by Jim Carey that his chances with her were “more like 1 in a million” that she was criminally guilty of leading him on.
How would someone with no bias interpret this puzzle piece:
“the liquidation of the Company's assets will almost certainly result in no residual value for non-secured creditors and equity investors.”
SOURCE BioAmber Inc.
“the liquidation of the Company's assets will almost certainly result in no residual value for non-secured creditors and equity investors“.
“There can be no guarantee that the Company will be successful in securing an acceptable offer in connection with the liquidation of its assets. Moreover, if an acceptable offer is received, the liquidation of the Company's assets will almost certainly result in no residual value for non-secured creditors and equity investors."
-Bioamber
Doesn’t get more definitive than that. This is certainly not a PR from a company planning a behind the scenes secret transaction.
That and the whole documented restructure (fail)/board resign/employees fired/restructure (liquidation)/suspension/deletion/revocation with nothing heard since thing.
It has been liquidated. I.e., nothing of value remains. Is that deniable?
Safe alright- just as long as you never want to exchange them for money.
Restructure is complete. That what the closing of the bankruptcy means.