AI
Wednesday, June 27, 2018 7:01:37 PM
Agreed and I don't know why it's become such a focal point lol. Whether the Q comes off or not, and/or the symbol changes or not, that's all dependent on the exit strategy and what the final restructuring plans are pending the sale, which by the last report done by the monitor, won't even be until the end of July once the buyer's terms are accepted. Even at that point, I believe we still have to wait for the CCAA court hearing date for them to courts to accept the terms and file the appropriate paperwork.
Please again, refer to the timeline on page 19.
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-010_061818.pdf
All the talk about the Q coming off at this point is *at best* going to bring in another round of flippers that just exit and crash the price after another week of it not happening, and *at worst* just keep dropping the price from folks that just get tired of it not going to happen and selling. As much as I'd like it to, IF the Q does come off at all, it won't even be for another 2 months at the minimum. Bugging FINRA about it and the SEC won't do anything either. The long and short of it is, they don't care, and aren't going to tentatively readjust the stock symbol while the US side of things are still under the Chapter 15.
It boggles my mind that we are seriously 2 days from the deadline of solicitations of LOIs, and now less than a week of actually getting to know WHO IS LOOKING TO BUY BIOAMBER and getting rid of a ton of conjecture and guessing, and the board is more filled with posts are talking about a potential catalyst that's months away.
No bids are going to be unsealed on Friday....or next week either. To put it in easy terms, this Friday is the deadline for companies/investors to officially say "we are interested in buying you".
July 2nd is PwC and the court's deadline to reply to the interested companies/investors and say "ok, you are a qualified bidder that will be allowed to enter the bidding". They're not going to dick the dog with every potential investor and/or liquidator that's looking to pick up everything for pennies on the dollar. Hell, I could submit my letter of interest by this Friday as a potential buyer, but I'm not going to qualify. A qualified bidder is going to be an entity that PwC and BIOA believes are going to have the funds to buy BIOA and settle/take on their debt from the creditors. I imagine there's more to it than that, but won't speculate on those terms since those are on a case-by-case.
The July 27th date is when all the bids get in, are unsealed, and then the respective parties have 3 days to be in their bidding war (if applicable, giving BIOA 3 days to pick the highest bidder and accept per the July 30th date "deadline for acceptance of the bidding offer." Note....depending on the parties involved and who is in the final running, it may happen next day. A bidder may make a handsome offer, but put a time constraint on it to give them an edge.
As per the trading action, I haven't been able to keep up with it in the past few days due to work, but glossing over it all I'm impressed at how the price has held up with the low volume. I knew we'd trade sideways in between catalyst days, but have been glad to see we're not channeling up and down too much. I'm also impressed at how the daily swing percentages are increasing. This is showing that through it all, shares are getting scarce. Flippers are still flipping, but at least in this range, they're still accumulating and there hasn't been a mass distribution. With the price action today, we had swings of half a cent....on a total volume of 4million! Can you guys imagine what it's going to be like when the volume picks up in here again once we find out who wants to buy us?! A series of quick catalysts, a primed chart for the next wave (below), shares tightening and potential big big money coming in for the buyout?! This has been fun already, but the next few weeks should be a blast (pun intended).
Please again, refer to the timeline on page 19.
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-010_061818.pdf
All the talk about the Q coming off at this point is *at best* going to bring in another round of flippers that just exit and crash the price after another week of it not happening, and *at worst* just keep dropping the price from folks that just get tired of it not going to happen and selling. As much as I'd like it to, IF the Q does come off at all, it won't even be for another 2 months at the minimum. Bugging FINRA about it and the SEC won't do anything either. The long and short of it is, they don't care, and aren't going to tentatively readjust the stock symbol while the US side of things are still under the Chapter 15.
It boggles my mind that we are seriously 2 days from the deadline of solicitations of LOIs, and now less than a week of actually getting to know WHO IS LOOKING TO BUY BIOAMBER and getting rid of a ton of conjecture and guessing, and the board is more filled with posts are talking about a potential catalyst that's months away.
No bids are going to be unsealed on Friday....or next week either. To put it in easy terms, this Friday is the deadline for companies/investors to officially say "we are interested in buying you".
July 2nd is PwC and the court's deadline to reply to the interested companies/investors and say "ok, you are a qualified bidder that will be allowed to enter the bidding". They're not going to dick the dog with every potential investor and/or liquidator that's looking to pick up everything for pennies on the dollar. Hell, I could submit my letter of interest by this Friday as a potential buyer, but I'm not going to qualify. A qualified bidder is going to be an entity that PwC and BIOA believes are going to have the funds to buy BIOA and settle/take on their debt from the creditors. I imagine there's more to it than that, but won't speculate on those terms since those are on a case-by-case.
The July 27th date is when all the bids get in, are unsealed, and then the respective parties have 3 days to be in their bidding war (if applicable, giving BIOA 3 days to pick the highest bidder and accept per the July 30th date "deadline for acceptance of the bidding offer." Note....depending on the parties involved and who is in the final running, it may happen next day. A bidder may make a handsome offer, but put a time constraint on it to give them an edge.
As per the trading action, I haven't been able to keep up with it in the past few days due to work, but glossing over it all I'm impressed at how the price has held up with the low volume. I knew we'd trade sideways in between catalyst days, but have been glad to see we're not channeling up and down too much. I'm also impressed at how the daily swing percentages are increasing. This is showing that through it all, shares are getting scarce. Flippers are still flipping, but at least in this range, they're still accumulating and there hasn't been a mass distribution. With the price action today, we had swings of half a cent....on a total volume of 4million! Can you guys imagine what it's going to be like when the volume picks up in here again once we find out who wants to buy us?! A series of quick catalysts, a primed chart for the next wave (below), shares tightening and potential big big money coming in for the buyout?! This has been fun already, but the next few weeks should be a blast (pun intended).
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