DISCLAIMER TO THE DISCLAIMER, Shareholders will lose 100% of their investment in this stock. Let's break it down
Shareholders should do their own reading and DD.
Absolutely. Please be sure to read the court appointed monitor's reports completely as well as the court motions and orders. If that is done, this false notion that the monitor is deliberately concealing a secret sale of the empty, debt ridden shell on the order of over $60M that provides recovery to shareholders will be revealed as a hoax supporting a stock sale.
Bioamber is not Bankrupt.
With the $3.5M distribution to the Comerica Syndicate approved by the judge on 12-17-2018, BioAmber has $59.7M remaining debt owed to the secured and unsecured creditors, the assets have been liquidated, meaning there are no revenue producing operations. That is the very definition of bankrupt. https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-046_121718.pdf https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-007_053118.pdf
Bioamber is not in Liquidation.
Probably need to tell the monitor and the judge:
Bioamber is in CCAA proceedings to restructure.
BioAmber entered CCAA proceedings hoping to restructure and continue operations, but that failed when they didn't get a single bid for investment, financing, recapitalization, or a purchase of the company. It moved to liquidation of the assets:
Bioamber is in Chapter 15 Proceedings in the US that recognize the Canadian CCAA proceedings as the Foreign Main Proceedings.
Bioamber sold its assets in a SISP in Liquidation scenario.
BioAmber is in Chapter 15 until the subsidiaries that owned the plant and other assets in Canada are dispositioned, then it will move back into the US courts.
LCY and KKR will acquire Bioamber shares.
LCY and KKR can utilize the $320,000,000 + in NOL's.
NOL's are a valuable asset.
BioAmber is now an empty shell with $59.7M of debt. It is ridiculous to suggest that any entity will seek to acquire it, there's no value to it whatsoever.