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No, the $125k note was not included in the consolidated note, only the ones entered into in early 2018 were consolidated.
The last disclosure that gave status of the $125k note showed $50k converted into 1B shares with $75k outstanding balance (1.5B shares left).
And all long investors were wrong on the timeframe (October), wrong on the RS, wrong on how the offering would be priced (IPO???), and wrong on company valuation, and it sure doesn't look like any "institutional investors" are pouring money into this.
And yet it is claimed there’s a horse stalking around even though the monitor told the judge there’s nothing else in the hopper, and an NDA is being claimed as the reason nobody knows about it.
That’s ridiculous and false, there’s nothing else going on for this company that will give shareholders anything for their shares, just like the monitor has stated more than once.
Sure, but notice what the NDA’s are for and the documents they are disclosed in????? Are they keeping transactions a secret from the judge? Nope. Know why? Because they can’t do that.
Keeping stuff secret from bidder to bidder is one thing, keeping lucrative transactions secret from the bankruptcy judge/court would be fraud.
LOL. There is no other transaction, the monitor has said that directly, and there sure aren’t any horses trotting around. There is no such thing as an NDA that would allow the monitor to keep an $80+M transaction secret from the bankruptcy court and judge, that is ridiculous and false.
No, he has/had 4 days from the time of whatever the event was. Can’t hold back material event reporting at all no matter where the stock is listed.
Meant to ask you, does the $3.13 offering price reflect the underwriter’s discount, or is there a price lower than that for them?
$2.60 ask is $0.173 pre-split.
Yikes, didn’t know it was that high.
Oh, well, at least he can pay off those horrible notes he signed up for and complete the SC transaction so he’ll at least have books that look like a business is ongoing.
Yep, you don’t see many scams run on NASDAQ, investors actually check the books. That’s why they come here, the OTC runs on hype, fluff, pure hoax, and possible projected potential.
What will the O/S be once this is done? Wanna calculate a market cap. $25M value of SC + a small premium might just be a buy point.
“For the love of God,” go read the summary of remaining debt in the 10th monitor’s report, it’s actually higher than $80M.
And I would suggest you consider the APA wasn’t a secret, neither was the SISP, and while the bidders had to sign NDA’s to review company documents and participate, the whole process was out in the open. The suggestion is there’s some transaction worth over $80M out there hidden from view because of an NDA when the monitor has stated directly there are none in the hopper, save maybe pawning off those worthless contacts.
Yeah, just like the guy who said there was. Thing is, I am correct. There is no such thing as a NDA that would allow the monitor to keep a transaction like that a secret. That’s hogwash.
I’ve read the motion that set up the KERP. I’ve looked through every cash flow statement since the program was approved. Do that same research and you’ll find exactly as I stated, no payment for KERP has been made because the program requirements were not met, namely they got no bids during the SISP at all, much less one that would pay the secured creditors in full.
Eloquent, but patently false. There’s no such thing as a non-disclosure agreement that would allow the monitor to keep a transaction so lucrative as to pay off all the debt a secret from the bankruptcy court and judge. The suggestion of such is ludicrous. The assets are gone, sold in liquidation. The debt remains, over $80M. What happens to bankrupt companies with massive debt and no operations nor income? They disappear when the judge discharges the debt and equity, every time.
No KERP payment has been made, period. The program requirements were not met.
The assets are already sold, liquidation happened. That is undeniable.
Worth what they offered them to the purchaser of the assets for, $408k, maximum.
Sound Concepts business is marketing supplies and services to small businesses.
And, once again, if you’ll look at the bid sheets that were prepared for the liquidation, you’ll see those 2 bidders were the only ones who bid on all 3 lots of assets of the company that were offered for sale. Other bidders only wanted 1 or 2 of the lots. That’s what PWC clearly meant by that phrase. 6th monitor’s report, page 37, for anyone inclined to learn the facts.
Still have shares in your account? Then the company has not sold.
Utterly ridiculous and false narrative. Still have shares in your account? If so, the company has not sold, they’d have to buy them to buy the company. That’s fact.
Plus, the liquidation of the assets is well documented and undeniable.
No, he doesn’t. And why would he even want to? Has he even said he’s going to register with the SEC? Nope, because the costs of the infrastructure to meet regulations is high, and it’s just him. So why is it even being suggested?
There will not be a “super 8k” or even a “plain 8k.” This company is not an SEC registrant, and will not file an 8k.
They don’t have those assets anymore. They were sold in liquidation.
This CCAA is miles down the road, liquidation of the assets has happened, the company is now an empty shell with massive debt and headed for the scrap heap. There’s literally nothing left to arrange or restructure.
Sheesh.
Such a great rationalization that is contrary to logic. Rory got what he could get for the stock he is selling to raise money to complete the acquisition and pay those horrible notes he signed up for. He’s responsible to shareholders to get as much as he can for each share so that the dilution of the O/S is less, thus resulting in a greater ownership stake by the existing shareholders. To rationalize that he purposely didn’t do that, purposely went to people who wouldn’t pay a higher price and demanded warrants with the stock (further dilution), is the height of koolaide consumption. Rory got the price and arrangements because that was what people and the underwriter were willing to do, and the only thing hand picked was the account the proceeds will land in.
Sure, it's complex. They worked with the executives/board to develop a restructuring plan that hinged on the SISP being successful, after that failed (and everybody left or was terminated from the company) they did a liquidation sale of the assets, they've collected up the accounts receivable, sold the inventory and spare parts, paid all the bills that were due since they came on board, argued with the secured creditors on how to divy up the money, filled a whole web page full of motions to the courts, and filed 11 reports, some with supplements, to keep the court and the creditors informed. Add to that it is a US company with subsidiaries in Canada, 2 different courts with jurisdiction, with the US court waiting on the Canadian court before they finally discharge the debt and equity and close the "company" out. I'd call it complex.
And the result of the complex restructuring is an empty shell with no operations nor income that is over $80M in debt. Shareholders are going to lose 100% of their investment in this stock.
If this company has "billions in revenue," no way no how are they merging into a penny shell and giving away the ownership of their company to the bagholders of that shell.
They will not file an 8k, they are not an SEC registrant.
He's going to use up quite a bit of that honeymoon. We're in Q2, and some of this nifty possible projected potential deals and products were to launch this Q. That means nothing more than SC business performance will be on the books until, allegedly, Q3 financials are posted and, if you looked at the extra month added to the SC 2018 audited financial information, they're really not quite a $25M business. No matter the delusions of some folks, NASDAQ isn't going to buy $100-200M of stock (let alone $2B) in a $25M enterprise.
Actually, there is a simple explanation. If you read the rest of that document you took the snippet from, go to the bid sheets that were included in it, you'll see that only 2 bidders bid on all of the lots of assets. The other bidders did not want all the assets. So those 2 bidders were favored in the liquidation.
It's right here, page 37:
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-043_120718.pdf
Does have to be read, though.
There is nothing being "uncovered." PWC is not being coy nor evasive, they were appointed by and are accountable to a bankruptcy court and judge to document everything that has happened and will happen to this company. They are not leaving "hints" nor "clues" to some deal so lucrative that it pays off all the debt and allows shareholder some recovery, they can't. They have stated directly the assets were sold. They have stated directly the proceeds from all sources hardly put a dent in the debt owed to the secured creditors. They have stated directly the unsecured creditors and the shareholders will get nothing from these proceedings. This company is almost done, and when the bankruptcy judge discharges the debt and the equity left over once the checks are written, shareholders will lose 100% of their investment in this stock.
The underwriter is allowed to sell short, says so right in the S-1, and I bet they'll do some of that since they have ample shares to cover with @$3.65.
Not sure what you're saying. They pay $3.65 for 1 share of stock. If they want to exercise the warrant, they can pay $4.56 for another share of stock. So the $8+ buys 2 shares of stock.
Who cares what Deepak is up to? He doesn't work for BioAmber. Nobody does.
Sheesh
The S-8 registers stock for the Employee Equity Incentive plan, nothing more, and has absolutely nothing to do with BioAmber.
You can interpret that as a company that is completely unrelated to BioAmber. It's an investment company.
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001404912&owner=exclude&count=40&hidefilings=0
The IRS will not allow those operating losses to be used. Read rule 269 of the Internal Revenue Code.
"My goodness, lack of understanding of" tax laws.
And stinky pink OTC company CEO's never ever go back on what they say, because it's all in how they say it. "At this time" becomes a very powerful legal out when the RS actually happens.