BioAmber Inc fka BIOAQ

[Churak]

The confusion arises over accounting losses and losses available for tax carry forward. They are not the same thing.

1. The company has a deficit for accounting purposes of $320 mil. This is in the 10K previously referenced.
2. The first Monitor's Report on Page 5, para 25 states that the company has incurred losses in the amount of $320M. These are Accounting losses and tie into the FS in the 10-K. These are not losses for tax purposes.

https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-009_060718.pdf


IMHO, the difference between the tax losses per the 10-K and those in the Monitor's Report arise from the impairment charges claimed for accounting purposes which are not deductible for tax purposes. Accordingly, the book losses are greater than the tax losses.