Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
https://www.ic.gc.ca/app/scr/cc/CorporationsCanada/fdrlCrpDtls.html?corpId=9636307
“Date modified: 2020-11-29”
??
Line 41: “The Monitor has previously reported on and described the attempts by the Company to pursue a sale or restructuring of its business. The Company’s realizable assets have been sold through this process. The Monitor is of the view that the costs to continue to pursue the realization of the limited remaining assets likely exceeds any potential benefit to the Company.”
Yes it has but is it not concerning to you that the most recent monitors report clearly states that the only result from the “restructuring” attempt was the 4.3 liquidation?
Make up your mind. Two weeks ago you were naysaying. Just cut it out.
www.google.com
A “long shareholder” is still protected, if they’re long. What does this dip have to do with holding long?
Instead of asking Mark just read the documents. The 9.9% ownership includes 44,470,101 shares of Preferred A stock. They are convertible at a price of $1 into 13,342,335 shares of common stock. So, unless the shares are trading above .30, there is no benefit to conversion. As you can see it’s all still good news, Anshu is confident that this share price will be above .30. And this investor is also confident.
Thanks. Had to use the Verus website for it to work for some reason.
I’m not seeing anything in either filing regarding $1 conversion price. Someone make that up?
Shrimp had and still has negative revenue, so not quite.
Would you both believe me if I told you that doctors have been performing Caverstem procedures for 5 years plus now? What do you make of that?
Just curious what your time reference is when you say a “new” procedure. How long has Caverstem been performed on patients, to your knowledge?
SHARES ARE SAFE CANCELLED!
Honest question, not bashing just looking for discussion.
What’s to prevent them from restructuring this way, purchasing the shares for next to nothing (i.e. buyout not a merger) in order to keep the tax attributes, using the cheap shares to pay off the creditors and giving them a stake, also giving them good reason to believe eventually they will be made whole and then some through growth. In the meantime they continue to operate privately.
The only way this restructuring (in my OPINION) will benefit shareholders is if the shares live and they keep the public listing. Otherwise how much are the shares worth to LCY with the debt attached to them? Thanks.
In the instance of filing for bankruptcy you would most likely be correct. However bankruptcy has been dismissed and the proceedings are being done via CCAA which completely differs than filing for bankruptcy.
During CCAA it is not uncommon to to have a liquidation prior to a second transaction which involves a restructuring. In fact, CCAA is used SPECIFICALLY for restructuring deals. If the company wishes to go through ONLY a liquidation process and cease to exist, this would be done through the Bankruptcy and Insolvency Act or BIA.
Furthermore during CCAA, it is not uncommon to have a liquidation prior to further restructuring negotiations.
Oh, and “the law” that everyone is talking about regarding transparency for potential deals going down, CCAA regulations allow for purchase agreements and restructures to be completely confidential.
https://www.lexology.com/library/detail.aspx?g=7df8207c-7736-4267-9198-08f3768c2068
This is proved incorrect with a 363 sale structured under 26 US Code section 368. Also a fact, the offset of the amount of NOLs Bioa accrued would be perfect to offset the amount of debt they had, and is a home run play for LCY.
Lol you all crack me. Everyone talking about gold now 12 hours ago talking smack on shrimp.
You met Rory?! Did he pick your pockets too while you were that close to him? We got hosed.
My thought process is they pay as little as possible because they can. At this point they’re not up against anyone else, and they would have to assume all liabilities including the 80 million debt. Is this incorrect?
Understand. Thank you. So again back to my final outstanding concern, what would prevent them from paying fractions of a penny for each share?
I greatly appreciate a straight forward, respectful response thank you.
I agree and see how 363 sale would benefit Lcy(KKR).
I do understand if they want to NOLs they are tied to shares and must assume or purchase them. However, I’m stuck wondering if it’s a buyout to take advantage of the tax aspects of the 363, what’s preventing them from purchasing for an extremely cheap price per share? Again, thanks for a polite, professional response and conversation.
I did ask! And I was removed for trying to discuss with you, and most likely removed by you! I don’t get it.
I don’t understand..you’re agreeing with me then? I am simply trying to discuss cause for concern. The 363 sale fits the mold perfectly, and would work to KKR’s advantage in more ways than one. However, they are not required by any law, SEC regulation or court order to keep the shares alive. It states right there in appendix B the CAN cancel the shares and still recapitalize on the entire company along with assists and liabilities.
All you’re doing is name calling and saying “shares are safe”. They are anything but safe, but let’s hope they are!
You are 100% correct, Sir. They ARE going through a complex restructuring. There is nothing in ANY of the monitors reports, or motions that states LCY MUST keep the shares alive. I AM a stockholder of this company and and expressing my concerns. If anyone that holds this stock can prove 100% that this is going to benefit us, I applaud them and they should probably already be making a big enough salary that they don’t have to gamble on this.
Salty? Do any of your responses constitute actual conversation? I’m trying to discuss DD regarding Bioa on the Bioa iHub page. Is that not what this is for?
Fifth monitors report, Appendix B which is terms and conditions of the Call for Bids in the liquidation process:
4. Recapitalisation. Bids can also be submitted for the recapitalisation of BioAmber (the “Recapitalisation”), under which: (a) the Qualified Bidder (as defined below) would subscribe to common shares of BioAmber (“Common Shares”) whether as part of a one step or 2-step transaction; (b) if required by the Qualified Bidder, all currently outstanding shares of BioAmber would be cancelled by way of amendments to its articles; (c) the net proceeds of the Recapitalisation would be used to settle all or part of BioAmber’s outstanding obligations.
Does this not concern anyone??
Discussions with one party.
Would you rather a BS shrimp like PR rambling about “big things in the works” with no details? They will announce news when they have real news. It’s coming.
I agree we will see a success rate of 80-90%. The numbers I found through my DD were 80% success, and of the other 20% most of that group had positive effects from a second procedure. This procedure is also often paired with another set of 2 intravenous injections aside from the Caverstem procedure.
As you said, regardless it is a way for these patients to avoid taking these drugs with many negative side effects.
Procedure lasts for 4-5 years. Nothing has touched those numbers yet. We’re looking good and I shouldn’t let people like jdf get under my skin.
Thanks for the post, I dig it. I’m confident in this investment.
Neither of those links you provided are connected to CMTH.
This board is very confusing..are those European trial results from a Caverstem trial? If so not looking great.
Visolis is the prospective company purchasing Bio Amber.
Exactly! The information is out there for people, they’re not trying to hide anything. There are real doctors treating real patients. The doctor who I spoke with (I’d rather not say on a public internet board out of respect for him) has treated well over 50 people with this procedure. He was very open with how the procedure is done and what type of results one should expect. And like you said, there are definitely other health factors involved in how long the effects lasts. The information that I received was that average was 4-5 years, which if you research ED you will see there is nothing that surpasses that at the moment.
Part of my previous response that was deleted, the thing that sticks out for me with CMTH is they are not blurting out BS news PRs to pump people up. They are readying the business for progress in a professional way and so far they’ve been on point with what they’re telling us. Can’t ask for much more than that.
It is not a “permanent fix”, 4-5 years but it’s as good as it gets for now and no medication with awful side effects.
The Caverstem procedure lasts 4-5 years when successful. There is no permanent fix to ED.
Facebook hoodie video (pure speculation) agreed could be in California. Peter Thiel, early investor to get Facebook off the ground, put up $500k in 2004. Sold out right after the IPO for over ONE BILLION DOLLARS. Also held a big hand in PayPal, selling for $55 million after IPO. He runs a Venture Capitalist firm called Founders Fund. Again this is pure speculation from some DD of my own..but if this is by chance reality, it’s a big deal.
https://www.investopedia.com/articles/insights/082216/how-did-peter-thiel-get-rich-pypl-fb.asp
Why does this thing continue to sink? Is it toast??
I have spoken to Dr’s directly myself, all you have to do is call. I can say that the success rate he offered from his experience was extremely promising. I think we need to continue to be patient and will be rewarded with a good news PR. Especially in the medical field, you need to triple check all your data before publishing something.