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Neither am I
The flipping cannot get anymore obvious
I really hope you don’t give up and sell because I think the irony alone would cause it jump to .1 immediately
A thankless job hahaha Star Wars your funny. I can read you like a book
They have to cover
I’d love to hear the city perspective as well one as from an analyst who will probably lay out all the options going forward and giving listeners assurance it’s not going to be a metal yardsale.
How do you listen to this?
Think about it. How often do you see a shiny new manufacturing facility sitting vacant and rusting away? I have never seen that. How often do you see a manufacturing facility taken apart and selling in giant parts that are made to do one specific thing? I personally have never seen that either. However, I have seen plants change names on the front. I think this plant will be producing succinic acid again one day. Another company will buy this imo. And if has a potential for big revenues then the open market should take over and set the price its worth.
We also now know new equity will not be introduced as part of a reorganizational deal any and all leftover equity now belongs to us in an asset sale vs restructuring
At least we don’t have to worry about new equity now. Might end up all for the better as we get any and everything leftover..
I’ve been here for a long time. Still here. The monitor has a duty to send any relevant information out. If they don’t send it. It’s not relevant
An update is going to come inevitably that imo should bring this right back to .07++++
And they are one of the top four accounting firms in the world
I’m not sure but I do know the court and monitor reports are all that matters
Have you ever seen a stiff negotiation unfold? This has all the tell tales signs of a tight negotiation. Eno is walking away from the car dealership only to get them to come crawling back to him for the better deal
It’s just the contact info so we can send emails
Got it thanks
Send me a pm
Although not typical I believe buyer could technically still swoop in last minute tomorrow in court and buy Bioamber in court with the creditors, PWC, and bioamber all present. With that Pr today which was rogue and seemed to be a 180 from the last monitor report from PWC who knows what will unfold. But I have to hold to see this through
Yeah I’m hoping tomorrow court will provide insight to the rogue actions of today. We shall see.
I agree tomorrow should shed a lot more light on this PR lthat seemed out of control. this is the link I just found but there’s another one I was trying to locate too but this sums up the law requiring the monitor having the statutory requirement for monitor and reporting asset sale activities. So the ceo was acting out of control imo. Why he would do this makes no sense to me other than to get last minute buyout increases or to drive down pps or both. Based on this link below the monitors are the only ones who can officially report on this type of information in a ccaa.
https://www.lexology.com/library/detail.aspx?g=7df8207c-7736-4267-9198-08f3768c2068
control and monitoring
The Monitor has certain statutory monitoring and reporting activities in relation to the business and financial affairs of the debtor and relating to certain activities proposed by the debtor, such as interim financing, termination and assignment of contracts and out of the ordinary course of business asset sales. The Monitor is required to publish notice of the CCAA proceeding in one or more newspapers in Canada and make the Initial Order and a list of creditors, with the estimated amount of their claims, publicly available, to review and report on the reasonableness of the debtor's cash-flow statement and other amounts prescribed by the CCAA or as ordered by the Court, and to attend court proceedings and meetings of creditors. Court orders will often direct the Monitor to provide information to secured lenders, supervise a sales process, assist the debtor with the development of a plan and related negotiations with stakeholders, supervise and assist with a claims filing and resolution process and oversee the calling and administering of meeting(s) of creditors to vote on a Plan. While there currently is no electronic database maintained by the Court, the Monitor maintains a public website where case information, proceedings and reports are posted.
Agree. It’s a power move. He’s saying he would rather burn it down and piss on the ashes than take their measly offers (measly in his opinion) in the meantime the pps plummets allowing for more buying. Also in the meantime the monitor and the courts have the ultimate decision regarding the offers and what will happen to the stakeholders. Also in the meantime the creditors are now sweating in their boots because they have to now start thinking about the word liquidation again and perhaps the bids will increase further. This is why I’m holding. This is all my opinion
I know they are not in liquidation quantum, but what I’m saying is that a PR directly from bioamber bears zero legal weight based on my understanding the ccaa and I have links I can provide to back that up. So what he said in PR today means nothing to me and imo could be totally false because it’s not his job to report that. I think there is another agenda going on.
That PR is not from the monitor (PWC) who is in charge of providing the most up to date information to stakeholders and the court. The ceo and staff still working at bioamber are no longer in control. They can have an opinion sure, but they are just there to keep the place operational.. not to give verdicts. They can’t by law.
See below:
Source: https://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br02284.html#toc10
The monitor's website contains the most up-to-date information pertaining to the proceeding. If you are looking for information regarding the CCAA proceeding, please check the information posted on the monitor's website.
How do I keep informed of developments during the CCAA proceedings?
The monitor will provide periodic updates on the progress of the proceeding and inform stakeholders of any key developments. The monitor has a duty to make certain documents such as the monitor's reports and court orders available on their website. They are also available to answer questions you may have regarding the proceedings
If the creditors are paid fully in cash they cannot demand more shares in addition to that..
But let me ask you this? Can the company really say what they are going to look at? I thought only the monitor could handle that type of decision..
I agree and the more I think about it the more sense it makes for them to do this PR stunt as a ploy because if they know what the equity is worth this PR is a way they could easily get the price as low as it could possibly go to seriously cash in. Not sure how legal that would be but I think there has been plenty of examples of this type stuff happening quite commonly (pun intended)
Who says they are being liquidated? Someone who can not determine that (the ceo) if you understood ccaa law the company cannot make the decision what path will be taken.
Not the court. They are the only ones who can
To make a ton of money. Just because it’s “unacceptable” to him doesn’t mean anything. The monitor has to control these things. I mean I could be totally off but from what I read this is what makes the most sense to me. We will find out soon enough
Yep the company can say whatever the heck they want. They lost their right to determine the outcome when they became illiquid. They cannot just decide they get two more weeks.. they could have gotten monster bids and just said they are unacceptable to them but the court would be foolish to turn them down..In the ccaa the court rules in favor of the broader economic picture. And the assets are what they are. This totally could have been a ploy to make some serious money in equity in bioamber. Talk about a moass
Nope those people are still holding just down from Friday. Not trying to swindle. There’s risks in everything
I’m staying put as well.
Also the judge has to make that decision.. complete bewilderment
The company has no say in this deal why would they even say that. The judge is the only one who can decide if the bids were acceptable
Agreed
Wasn’t referring to you I know your in this. Lol I appreciate the article. Actually read it already. I was rhetorically saying that in general after reading some others comments tonight.
It goes to shareholders of course. Easy math. I mean yes there is risk what that buyout price will be but a little DD shows who and what’s interested here to have an idea of what it could be worth
That was a great sarcastic question to expose the truth about equity and shareholders.
And this company’s assets couldn’t even touch their debt much less a buyout and equity holders still got paid. I mean you either see the opportunity or you don’t. I don’t really care lol I need to start ignoring these liars or people of lower education levels.
If your arguing over these semantics your not getting the play here. Doesn’t matter what you call it the outcome we are hoping for is the same. Equity for shareholders