I really, really, really hate to agree with Bruce and I do not. Still, he may be right.
Depending on how you read the document, it is entirely possible that the purchase of all three BioAmber entities is for 4.3M and the US portion is the anticipated "minimum of 150K" figure. I see some possibility of other documents we have not seen covering the actual plant. Still, I have a hard time imagining they would not disclose the entire transaction to the US courts. As it is, we do not know how many documents we do not know about.
I would feel more certain if I could identify which assets are referred to by the asset serial numbers which I see no reference for... I'm not any good at real cryptography and I am not a research lawyer, so... I dunno.
If it is 4.3M and PWC is saying this is a positive outcome (and is actually saying it with a straight face or without crossing their fingers behind their back like kids do when they fib...) then that means there is another set of more important understandings.
But, if we do have all the documents we need already, then the long-term situation seems brighter IMHO.
In my opinion that means that the real money is going back into a commitment to bring this plant, the NewCo products AND succinic acid production back online and back into the Sarnia community. If 4.3 million seems like a good deal to PWC, then the assurances and financial plans that makes PWC comfortable that NewCo will definitely restart and expand BioAmber, then the JV might include a LOT of capital coming from overseas to make 4.3 mil a great deal for Sarnia and Quebec, en mon avis (IMO).
It might or might not help us longs. Not sure the NOLs argument is really workable but I see several reasons NewCo might keep us around. Just because jerky lenders did not like the equity raise offer does not mean they will cancel that part of their plan. I feel good about my choices and the risk/benefits. Make your own choices based on your DD and what you can afford to lose... The misinformation over what ought to be fairly clear documents makes this feel like a scary clown circus car ride.
all of this is my IMHO and don't mess up your life over a stock that is WAY not a guarantee... I am not a financial professional or trader...
That said, on the outside chance that the shares survive, what a crazy rare opportunity!
Or what a painful (and expensive) lesson.
I really hope most of those employees get rehired however it turns out for us on the sidelines.
