Went back to the first report, I had forgotten what were the values set on the property. NOL’s are at $320 million.
Property and equipment: As at December 31, 2017, the property and equipment book value is US$49,5M (the cost before impairment and depreciation is US$140M). BioAmber has obtained a valuation report of the Plant dated February 2018 (the “Valuation Report”) (Appendix B). The Valuation Report was prepared by Nexant and established values as follows:
i. a distressed liquidation value of the Plant of CA$29.3 million
ii. an orderly liquidation value of the Plant of CA$34.5 million.
iii. a fair market value between CA$70-95 million.
b. Inventory: Mainly comprised of Succinic Acid finished product, which can be sold quickly on the market to existing clients. According to the most recent information provided by BioAmber’s management team, inventory sales value is approximately at CA$3.6 million as of the date of this report.
c. Cash and Cash equivalents: As at December 31, 2017, total cash balance was US$4.6 million (CA$6.1 million). According to the most recent information provided by BioAmber’s management team, the total cash balance is approximately CA$3.6 million as of the date of this report and is divided between the three entities as follows:
i. CA$2.6 million in BioAmber Inc.
ii. CA$0.7 million in BioAmber Sarnia Inc.
iii. CA$0.3 million in BioAmber Canada Inc.
AI
