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Yes, you are right about me being right.
Broker, broker, on the wall, who is the shortest of them all?
Of all the things that doesn't pass the sniff test, it's the following:
Still no source for that "3K in short interest"?
Take it up with your broker.
BioAmber shareholders can't help you now.
DO GOVERN YOURSELVES ACCORDINGLY
Sounds like you also have a case of your broker holding "your funds" as collateral.
Your broker still holding "your funds" as collateral?
I offered you a way out, but there's nothing I can do for you now. You'll have to take it up with your broker. Either that or accept the outcome that your position is totally stuck going on four years now. What's worse for you here, is that the super majority of shares are in a very small minority of shareholder's accounts. And you can take it on good authority there is absolutely zero chance those shareholders will acquiesce to some arbitrary psychological state of "acceptance".
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Does this require being dunked in holy water?
Fascinating. Just fascinating.
On the one hand, those with a similar view have said everything related to BioAmber is dead as of five years ago. That means those shareholders who didn't close out their position ahead of the FINRA suspension lost whatever the investment was at that time, according to that view.
But then, on the other hand, somehow that resolution (again from your point of view), is not enough. Those shareholders need to be continually called stupid, idiots, con men, and jerkoffs. And not just for a few days or weeks, but for years afterwards.
Whyyy sooo serious?
It's almost as if you need these shareholders to do something for some reason or another. But what, pray tell, could that be?
What can we do for you...Shareholder Police Officers?
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AN OPEN MESSAGE TO ALL SHORT INVESTORS UNABLE TO CLOSE THEIR POSITIONS
Here's the deal.
Send me a private message and for the right agreed-upon price I'll "release" as many shares as needed that will allow your broker to release your funds and close your open short position, which requires said shares.
Offer to negotiate expires tomorrow at market close.
DO GOVERN YOURSELVES ACCORDINGLY
Exactly.
Nah.
1. The price skyrocketed.
2. FINRA suspended the CUSIP.
And it's up to your broker, so try and convince them if they are holding "funds" in your account as collateral on your open short position.
DO GOVERN YOURSELVES ACCORDINGLY
Well this is quite interesting!
In regards to an open short position (and the only portion of the post that addresses the fundamental question), you claim the following:
Again, take it up with FINRA.
The problem for this assertion, however, is that it's verifiably false. I would take the extra step to describe it as embarrassingly false.
The share price for BioAmber skyrocketed in the days prior to FINRA suspending the CUSIP, which has been well documented. I've taken the extra step to add the screenshot from FINRA directly, so people can decide for themselves. If the word "suspension" seems "con artist-y", take it up with FINRA. I did not make FINRA use that word. You can find the word "suspension" under Event Type, highlighted in yellow.
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Actually, that's not true. The share price skyrocketed just ahead of the FINRA suspension.
So, what mechanism materially closed out all short positions? Did short positions being closed out require any investor input? Or were short positions automatically closed out because of some legal or financial regulatory mechanism? How, in very precise terms, were short positions materially closed out?
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So, how does that work out? Does liquidation (or FINRA suspending trading) automatically resolve open short positions? How exactly would that be executed in those investor's accounts? Maybe some of the individuals who seem to have a lawful understanding of bankruptcies can chime in and walk us through how open short positions are automatically resolved with liquidations or suspended trading.
DO GOVERN YOURSELVES ACCORDINGLY
Great question. Question of the year.
What a profound thought. Wow. We're all sitting here, mouth agape, just in awe at such depth of "wonder". What a contribution to investors at large. So absolutely and utterly deep.
Just so everyone understands -- there are non-BioAmber shareholders out there who "wonder" if shareholders of some completely different company will be fantasizing about their non-BioAmber investment at some point in the future.
Just...WOW
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Speaking on behalf of all BioAmber Inc. shareholders:
Ad nauseam ad hominem attacks and false apologies against BioAmber Inc. shareholders are hereby rejected with prejudice.
DO GOVERN YOURSELVES ACCORDINGLY
The structure of BioAmber (aka "the Company"):
1. BioAmber Inc. (US company, where the shares are)
2. BioAmber Sarnia (Canadian subsidiary)
3. BioAmber Canada (Canadian subsidiary)
Note the checked box, "Funds will be available for distribution to unsecured creditors"
Punch those calculators on BioAmber Inc. reported assets and debts (public, legal documents submitted in court May 2018) and as always...
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Gotcha 😆
It is difficult to know what is worse, that you looked or that you felt it necessary to let everyone know you looked.
And I don't just like my own comments, I love my own comments. In fact, a little thumb in the air never fully expresses such love, I'd much rather have an animated TNT explosion or a nuclear mushroom cloud made of little red hearts.
Still, everyone is besides themselves watching you demonstrate such detective skills, Sherlock. Are these the same skills you used while looking into the BioAmber file?
Embarrassing.
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The "messenger note" neither advanced the conversation nor provided supporting information on the claim that anyone, let alone BioAmber shareholders, contacted you to "look into the BioAmber file".
In any case, let's go ahead and assume BioAmber shareholders contacted you to look into the BioAmber file. Why? Do you have some special position or some special information that nobody else has access to? Do you have some special network, e.g. your PWC colleagues? Additionally, if you're not a shareholder, why waste your time? Were you paid? And paid or otherwise, what is the continual fascination with this BioAmber file from a non-shareholder perspective?
These are all rhetorical questions. I have zero interest in your answers. I already have the information. But feel free to continue to blow air in a futile attempt to influence current BioAmber shareholders.
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Air.
As suspected, nothing but air.
Tell your PWC colleagues we hope their families are all doing well and...
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What BioAmber shareholders?
Nah.
If the process with BioAmber ended with the "closing" 4 years ago, it remains a mystery why the conversation continues on Twitter and other platforms to this day.
Surely savvy investors would not waste their precious investing time attempting to convince other investors that a company or transaction is dead and closed. One would think such simple things are self-evident and would not require additional explanation ad nauseam.
Yet with BioAmber the same repeated talking points continue for over 4 years now; the clamoring on social media around BioAmber continues to be one of the chief reasons it remains pending, open, and alive.
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Highlights and key takeaways here:
1. Dates don't matter
2. Anyone who was short after the trading stopped is "aces"
3. After the liquidation (nevermind the date, dates don't matter), at that point anyone with half a brain new [sic] it was over
Dates don't matter? Gonna go out on a limb and argue that dates matter.
Interesting!
So, short selling Bioamber was absurd after the SISP began and the approval of the liquidation?
A few questions.
1. What date was that?
2. If it was so obvious Bioamber was going to zero after "Date X", why would it be absurd to short it? Wouldn't it be a guaranteed profit?
DO LOGIC YOURSELVES ACCORDINGLY
Agreed...this is worth laughing out loud.
Would be interesting to unpack the following:
Thank you, Professor!
Very much appreciate all of the insight into how short selling works.
Especially the following:
Nah.
There is a grand canyon of difference between the perception of "worthless" and shares actually being materially declared worthless.
Perhaps indicate the total long position.
Interesting!!!
See previous response.
DO GOVERN YOURSELVES ACCORDINGLY.