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I have heard of a short sale but not something I'm entirely familiar with.
Liens are what allow for seizure of assets by lendors? Unless I'm mistaken
Probably can't sell your house without satisfying the mortgage during the transaction because it's not totally your house yet
If you sold your house right now without the leins attached, that would be silly on yours and the banks part. The creditors of the plant would not allow the debt to be stripped from the underlying asset. I could be wrong but common sense to me that no judge would allow for such a wrong to be done to everyone except the buyer.
It's doesn't say the debt, it says abunch of charges PwC has for service?
It also says "control prior to closing"
Are the leins against the plant no longer? If they sold the plant, the leins go with them. If the leins go with them, then BioAmber debt severely reduced.
Wouldn't that explain the "upfront" purchase price?
Guess I'll have to do some more research and get back to you
It does make sense. If it's not working optimally then they could have scrapped it for more from my understanding (not my own DD). Not my point.
But what I'm saying is if they sent the debt with the plant, the price would be lower ( because why would you buy a house for 400,000 if it had a lein for 350,000). You'd buy it for 35,000 and take the 350,000 owed.
If you owe for your mortgage, you can't sell your house without the mortgage attached. Is that a fair statement?
Okay, I appreciate your straight forward response. I will continue to do DD. And will hopefully come back with more for you to rebuttal haha
I asked multiple questions and you have no input?
See my last post and let me know what you think. I am just trying to make sense of such a backward ass upfront purchase price. Because unless the other debts owed by BioAmber would be settled, then the price should be much much much higher. Thanks again
Okay can I rebuttal with the hypothetical then?
What did BioAmber have to lose by continuing business? Why volunteer to liquidate if the money your going into further debt, in the end, will be wiped clean? Didn't the company collect almost 40 million in A/R directly after filing? If they were 80 mil in debt that's half directly after filing and creditors got 4.34 million? Explain
Oh okay, that is something I didn't know! Good info thank you!
The notion comes from the other documents that are under seal. I'd say an NDA would give the idea that there is more. Also the low price that the company sold the plant, IP, key employee retention would also point to some form of additional compensation. True or false?
They may not NEED to restructure, doesn't mean the company is doomed. Shares could have been sold, or the majority of debt, attached to the plant was passed along to NewCo.
As I do own shares, I don't want to be completely bias. I can't help but think about the " no need or chance of restructing" part of the last document. Any thoughts? Preferably not bashing or boasting just cold hard fact/ non bias opinion based on fact.
Your missing that the market cap doesn't increase with the 1:1 dividend. So essentially, your just getting 2 shares that have the same value as the 1 share you already own.
This seems like bad news
So instead of taking the highest cash value deal they took 4.3 million because that was the best interest? Whats your take there? Why qualified bidders?
Thats fine and dandy, but are we looking at the bigger picture or just the CCAA?
Its not that there is definately more. But if the debts are attached to the plant then how much debt is BioAmber even in now?
Not every secured creditor got something so i highly doubt that
How much land is/was owned by Bioamber for the Sarina plant? I think all of us can agree the land alone in todays market is at least $4.3 million. So if you sold the land and scrapped the plant, the value to secured and unsecured would be much higher. Why did PWC "screw" investors?
Simple, they didn't. Best interest of stakeholders would be a fraudulous statement if 4.3 was the end of the company.
I'm definately not a whale or MM haha but without a news update the drop off seems more like and attempt to get others to sell shares. At 1 million volume it was down 44 percent. My idea would be a few bailed position and the rest saw an opportunity to buy the shakers
Any news or just big sell off? I considered buying but am not up to date and this board doesnt seem very active.
I think the key here is upfront purchase price. More to the purchase price in dollars? Maybe not but I'm very sure that a company like BioAmber will not go down for $4.34 million outright.
Also true, learning experience is good enough for Me. I've learned alot from everyone that has posted here. Thanks for the resources to help me make an educated decision. Maybe not the most educated but im happy with whatever the outcome may be.
Two sides to everything. Only one outcome and I'm confident i've made a decision worth the long while.
The "dumping of shares" is approximately 500k haha thats nothing. Some may be willing to sell there 50k at the bid. Maybe if the bid was .15 id be more tempted.
I wish i expected this.. I added $4500 @ .023. Its all good though. I trust the process. Havent sold a share for almost two years.
This sucks haha holding strong though.
I was thinking the part that says reference bioamber L2
Where was this screenshot found? Where is the rest of the page? I would like to look into this because it seems to good to be true
What happened after share reduction?
The guy bruce is referring to is not the same Paul.
"The revolution shall not be televised"
Less risky
Potential anwser would be, it was to expensive to purchase. So instead they are forming a new company to work alongside BIOA
Is there a new pacer document out? Gunna have to get a subscription haha
Suspicious that there is no update after the last year and a half reports came out early or after hours the day of.. Still holding