Bioamber sold there assets at a loss so that LCY/Visolis can use that and all existing NOLS in the future
They needed the Assets sold in 2018 so they could take advantage of the losses immediately following the stock purchase
Bioamber was approached before filing for CCAA and bankruptcy that LCY and Visolis was going to purchase them
Bioamber was lucky they were able to mask the entire sale by going through CCAA proceedings and not having to be as transparent as us proceedings rule
They needed to file for bankruptcy so that LCY and Visolis could acquire the contracts that would not normally be transferable in a sale during the company normal operations
They have Laura Davis Jones who is ranked the in the top restructuring lawyers in the USA working on this case along with Pricecooperwaterhouse who was chosen to represent bioamber prior to bankruptcy filing
I hope noone sold there shares knowing the true value of this company and the common shares
BTW since the Visolis transaction for the assets did not provide more value then the liens on the assets as per section 363 of the bankruptcy code "THE LAW", they have to take over the existing debt. they are okay with this because they bought THE WHOLE COMPANY
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