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Interesting.
Responding to and focusing on the messenger and not the content.
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BIOAMBER INC. SHARES STILL ALIVE
Interest in BioAmber Inc. shares persist. Would be a shame if short sellers were unable to purchase BioAmber Inc. shares for $0 dollars after the close of the CCAA and BioAmber Inc. remains pending, while long shareholders continue to lock up and hold those same shares in their accounts.
DO GOVERN YOURSELVES ACCORDINGLY
Which guy lied?
What is fascinating is what is and is not "active" as it pertains to BioAmber Inc. (where the shares are).
So many things related to BioAmber Inc., to this day, remain "active".
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How far?
That is great news!
How long before BIOAQ is on that list? How many years can BioAmber shareholders expect to wait before the shares are destroyed?
PWC signed off on December 23, 2019.
Do Govern Yourselves Accordingly.
Agreed they need votes.
Likely KAHC shareholders via BOD already in the know, although due to LCY going private after KKR acquistion, it would be difficult to know the exact timeline.
It is possible the new CEO is picked via vote from a parent company's Board Of Directors.
KKR's forward strategy likely includes strategic timing. There is a strong chance KKR has already determined any IPO announcement date.
Ok good, so it is understood the Canadian judge phrased it as an "exceptional liquidation".
It is important to note that the Canadian judge said those words, because it speaks to the larger context of what it means for a company to be in CCAA or Chapter 15.
To simply refer to BioAmber Inc. as being in "bankruptcy" and "that is how it works" and "that is the law", is woefully simplistic, inadequate, and totally void of legal context.
In the first place, there are three companies involved in the exceptional scenario:
1. BioAmber Inc. (the parent company, i.e. where the shares are)
2. BioAmber Sarnia Inc. (Canadian subsidiary owned exclusively by BioAmber Inc.)
3. BioAmber Canada Inc. (Canadian subsidiary)
Now, when there is a mention of a judge, it is completely reasonable to ask, what judge?
What judge said what words?
This should be easy enough to cite, because after all, it is THE LAW. Anything a judge says should be easily quoted with the judge's name in tow. So, name the judge and quote their words.
For this you will need to read the court documents again.
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It is false. I suggest you read the documents again.
The class action suit contains shareholders who own shares purchased both inside the Settlement Class Period and outside that claim window. Any settlement payout on shares inside the class action suit brings with it the condition of Releases And Covenants Not To Sue, among other Releases and conditions, and these must necessarily be fully executed, resolved, and closed before any other scenario could execute on those same shares; which given the case above, may or may not be released according to whether or not a shareholder agreed or did not agree to participate in the class action suit, but nevertheless purchased shares during the Settlement Class Period.
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The reference to "equity claims" has been covered:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146445736
"Equity interest" means a share in the company.
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Nah.
Taking this on point by point on a strictly logical basis...
Likely ribbed for years.
Zero is a value.
Level = 3rd grade.
DO GOVERN YOURSELF ACCORDINGLY
Again, your broker can advise you on such elementary concepts in regards to your shares in BioAmber.
Any good information will be based on empirical data, not psychological.
Do Govern Yourself Accordingly
Yes, a company can have an effective value of zero; e.g. in the case of a market value of zero, or for any number of reasons, and yet still shares not be determined worthless.
Zero is a value. Worthless is the absence of any value whatsoever, including zero. Regardless of the determining entity, that difference is necessary for brokers to remove shares from accounts upon request.
Any broker should be able to further educate an investor on such elementary concepts.
DO GOVERN YOURSELVES ACCORDINGLY
GOD VIEW | BioAmber Inc.
What is and has been painfully absent from the story of BioAmber Inc. is any "GOD VIEW" explanation of events. For better, worse, or otherwise.
No matter what the outcome has been, is, or will be, to date there has been zero correctness on the overall course of events.
FACT: Shares have not been cancelled.
FACT: Shares have zero value.
Predictions, whether cancellation or windfall, have proven themselves false over and over again.
DO GOVERN YOURSELVES ACCORDINGLY
Hugely agree!!!
Nah.
I'll just go with FINRA's word for the event type.
SUSPENDED.
Do Govern Yourselves Accordingly.
What is this absolute gibberish garbage about LCY writing a letter "to inform the world"?
The event type reported by FINRA is "CUSIP Suspended". I take FINRA at their word that it means the CUSIP is suspended.
"Yanked" is soft, imprecise language and I have yet to find a single event type applied to any ticker, ever, in the history of FINRA, being described as "yanked".
"Yanked" is usually a word that is used to describe an action similar to tugging or pulling. For example, "He yanked your chain."
Do Govern Yourselves Accordingly.
As it is alleged everything has been presented in a clear manner by the Monitor, and further alleged the key paragraph is "Par 3", please direct us to the section referenced below titled, "Transaction Process".
Reasonable people, including shareholders, continue to be interested in not only Paragraph 3 and Paragraph 4, but more specifically to the additional information to which these paragraphs reference. This is just one instance out of many. The LCY letter affirming the offer mentioned by Deepak Dugar in his "Letter Of Intent For Investment In BioAmber Inc." is another.
If there are any holes found, or seemingly missing or contradictory information, it's probably okay to think there is actually missing and contradictory information, and the Monitor did not in fact present everything in a manner that has continually been described as "very clear".
Far from it.
No amendments to articles has taken place. No watershed statements have been made about BioAmber Inc. in singularity, by anyone, and some brokers continue to say their research has determined BioAmber Inc. shares not to be worthless and therefore are unable to remove them from accounts even with request, notwithstanding those shares showing a current value of "n/a", thereby further clarifying that "worthless" and "value" are two different things.
Do Govern Yourselves Accordingly.
No.
Should the situation remain as is, there will never be an end. Not in this lifetime, not in a thousand lifetimes.
For it to "end", there will need to be a definitive material corporate event executing on BioAmber Inc.'s shares or some similar verifiable and quantifiable event that supersedes speculative written or verbal statements. This would need to be a watershed event that completely shatters and removes any doubt. That there is still doubt is the most obvious and glaring clue that no watershed event to date has transpired.
An amendment to articles would have or be one such event, for example.
Incidentally, some brokers have communicated to BioAmber Inc. shareholders that they cannot close their positions even if the shareholder wanted to (which must necessarily be requested), as the shares have not yet been deemed worthless, notwithstanding a value of N/A. In other words, value and worth are two different things.
Again, should the situation remain as is, the story will continue forever.
Do Govern Yourselves Accordingly
Just another snippet in a sea of snippets.
Suffice it to say and this being on good authority -- BioAmber shareholders are past nothing.
Do Govern Yourselves Accordingly.
Nah.
The continuing story of BioAmber Inc. is far more complicated and nuanced.
In this story, BioAmber Inc. (i.e. where the shares are) is the parent company of BioAmber Sarnia Inc. and BioAmber Canada Inc., the two Canadian subsidiaries. BioAmber Inc. is a US Company. Each of these companies is a separate legal entity.
Debts are tied to each company on their own unless there is a specific contractual commitment stating otherwise (see image below). This is a cross-border scenario and the reason for the statement by PwC that this is a complex restructuring.
BioAmber Inc.,(i.e. where the shares are) has required relatively little attention as the assets for this company far exceeded liabilities as documented in the initial Chapter 11 court filings. (see image below)
The patents, trade secrets, R&D breakthroughs, and Supply Contracts are owned by BioAmber Inc.,(i.e. where the shares are). These were part of the "substantially all" asset sale in the Visolis Transaction, which must necessarily require a second step, (and which was specifically defined in the Request For Binding Offers).
At no time in the entire process was there an amendment to articles for the cancellation of shares, and to this date those same shares have yet to be deemed worthless by the courts.
Again, BioAmber Inc. checked the box that funds will be distributable to unsecured creditors (see image above, it is highlighted in yellow with a little square box next to it; that little square box is completely filled in black. The words next to that box read, "FUNDS WILL BE AVAILABLE FOR DISTRIBUTION TO UNSECURED CREDITORS"). Given that fact, the US Courts would have no debts to expunge for BioAmber Inc. (i.e. where the shares are).
For these reasons the Chapter 11 was dismissed upon recognition of the CCAA (Companies Creditors' Arrangement Act), and the Motion filed in US Courts by the Foreign Representative specifically states this is in the best interests of equity holders of BioAmber Inc. (i.e. where the shares are).
Do Govern Yourselves Accordingly.