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I’m starting to think this fantasy cancelation link doesn’t exist? There’s been a plenty amount of time to come up with something to prove it, yet nothing.
Who’s in bankruptcy? I know bioa is in CCAA which is different from bankruptcy.
This business is severed from the company?? Hahaha ok.
Down down? I’ve been around this for 18 months now. And it hasn’t gone down in recent reports, just the early reports. With the accumulation off the charts. If this really was a dead horse then we sure wouldn’t be bouncing around above a penny for months on end, we’d be in the trips easy.
Well you’re wrong again.. this is in CCAA which is recognized as the main proceedings. How hard is that to understand?
Bioaq isn’t bankrupt, sorry. They are in CC double A. The us court signed off on it to be dealt with in Canada. once the POA is announced and the CCAA process is complete they will NOT be transferring this back to the US courts.
Hello!
What liquidation are we talking about here? Oh you mean the “liquidation process” taking place?
Calling it a bankruptcy is the waste of time.
I notice it says plan of arrangement and not plan of compromise. Is that because all creditors are being paid in full? ;)
Air Canada filed for CCAA back in 2003. They went through a rigorous restructuring and look where they are now. They didn’t have anything to do with the US. but Bioaq is also under CCAA and the US courts handed it over to Canada to be dealt with. Is that a good enough example?
Except in the Extension of the stay dated 2018-08-22 on page 4 section 18 where it says two bids were made by strategic buyers for “the company as a whole”
That is not the LAW and that’s not how it works, Sorry. Thanks for your opinion though it means a ton.
It’s a complex restructuring. These things take time. Come back in 6 weeks or so. :)
Haha wrong. It won’t be going back to the US. They handed it over to be dealt with in Canada under the CCAA. And I wonder what PWC meant by “in the best interest of all stakeholders” hmm things that make ya hmm.
Wrong again.. not in bankruptcy, not liquidated. It’s In CCAA big difference. :)
I don’t know how to post a pic on here but this is off pwc site, FAQ of CCAA.
CCAA Frequently Asked Questions
Q1: Is a company that has filed for protection from its creditors under the Companies' Creditor Arrangement Act ("CCAA") in receivership or bankruptcy?
A: In a word, no. A company (also referred to as the "Debtor") that has filed under the CCAA for protection from its creditors is not in receivership or bankruptcy. Rather, it has filed under the CCAA in order to remain in possession and control of its assets (subject only to oversight from the Court and the Monitor) while it comes up with a plan to deal with its creditors.
Yeah Finra would be informed of share cancelation.. not that shares hold no value. There are tickers trading that hold less value than Bioaq.
Also Bioaq isn’t in bankruptcy.. it’s in CCAA.
Why does Finra care if the shares hold any value? Although I could see Finra being notified about a ticker change.
Well that sure sums it up. Nice work!
I can’t seem to find anything recent that states there’s still $80+ mill in debt remaining?
Could you show me where it says they have 80+ million in debt? Thanks.
It’s still the complex restructuring reality..
Maybe give this a read before you start claiming it’s the law or shareholders get zero.. right in this document it says shareholders may be addressed.. https://www.pwc.com/ca/en/services/insolvency-assignments/what-is-ccaa.html
How about you post a link saying shares will be cancelled? Oh it doesn’t exist?? Shucks!
A weekend pr?? Haha
That same question goes for you! We’re all waiting to see the part where it says shares are cancelled!
I can wait. Tick tock
Shares are being canceled, if that were true PWC would have stated those exact words. But they can’t because shares will live on or bebought out.
Shares are locked and being held tight. Buyers will come once more details are revealed.
This is a common trading pattern for a complicated restructuring. Bankruptcy plays don’t sit at a .01+ for months on end with accumulation rising off the charts.
You forgot to add that the whole deal was for 4.3 million hahaha. It will be a great day once the CCAA has completed. Shares are safe
Give this a read. CCAA Is a lot more than holding creditors at bay
https://www.pwc.com/ca/en/services/insolvency-assignments/what-is-ccaa.html
Shares are safe and worth $$$
Why has PWC put FMV in their monitors repot? Why bring it up at all if it’s an imaginary number??
Agree to disagree.. time will tell who’s on the wrong side of the fence soon.
Go $BIOAQ
What was FINRA contacted about exactly?? Was it that shares will be canceled? I doubt that, they don’t need to be notified months in advance, but they could possibly need a little bit of time to get the new ticker and lcyb shares ready for action!
Go $BIOAQ
First. The company isn’t in liquidation anymore it’s in CCAA in the Canadian court system
https://www.pwc.com/ca/en/services/insolvency-assignments/what-is-ccaa.html
Here’s a link explaining the CCAA process.
Second. A restructuring specialist has been brought on because this is not straight forward by any means it’s proven to be quite complicated and in order to salvage all the value possible PWC is not rushing this
Pwc has acknowledged the contracts have value so between that, a FMV of 1.64 we longs are gold!
That is incorrect.
Longs are safe! Once the CCAA is complete we will finally get the good news! Daily pps means nothing at this time.
Jeez I still haven’t read anything about share cancelation! Lol I wonder if they will need the full extension or if they just maximized it to make sure they have enough time and too shake impatient shareholders? If I remember correctly PWC stated in one of the first few reports, they expected to finish before the end of the stay I’m wondering if that will be the case here. I personally don’t see this going on much longer considering PWC no longer has legal representation in this matter.
Go $BIOAQ Longs!
I’m waiting to see documentation of what you’re stating too. Shares are safe and Until you or pwc proves to me shares will be canceled I’ll be holding my shares for dear life!
How is the video BS?? What do you have to backup that claim?