BioAmber Inc fka BIOAQ

[1manband]

Did Visolis just buy 51% of the O/S last week

No, that is not happening, and will not happen under any circumstances.

First of all, Visolis, and everyone else, had the opportunity to acquire the shares earlier. Everyone passed.

Second, there is absolutely no reason to do so. Visolis is acquiring the assets and not the massive liabilities. If anyone acquires the stock, they will be stuck with all the liabilities which are a much, much, MUCH higher cost than the NOL's could ever be worth. That is a losing proposition, which is why no one did it in the first place.

And acquiring the shares would not only be illegal as Visolis currently holds non-public information related to the CCAA case, they would also have to file a Form 13D with the SEC within 10 days of acquiring a greater than 5% interest in the stock. No one has filed anything, since no one wants this stock which is going to be cancelled without payment of any kind to the common shareholders.

http://www.sec.gov/cgi-bin/browse-edgar?company=bioamber&owner=exclude&action=getcompany

The most recent ownership filing was NN Group who SOLD their entire holdings of 8 million shares after it became clear the common shares were worthless and will receive nothing. Institutional investors have experience and know how to read financial statements and court documents.

https://www.sec.gov/Archives/edgar/data/1534287/000119312518186626/d599900dsc13ga.htm