BioAmber Inc (fka BIOAQ)

[underdog150]

Well, this explains exactly what shareholders are getting, nothing.
And a notice sent to Finra to boot, LMAO.

16. No transactions involving the shares of the company or it's subsidiaries have occurred nor are anticipated. The monitor does not anticipate that the shares of the company or it's subsidiaries have any net realized value for creditors.

18. The net proceeds received to date, and anticipated to be realized, are substantially less than the quantum of the company's secured and unsecured claims. The proceeds from the Visolis transaction totalled US$4.34million.
The cash on hand at the outset of the CCAA proceedings and the net proceeds of the Company's other assets are expected to be fully used to pay the costs of the CCAA Proceedings, including the Company's operating costs as well as the costs associated with the SISP and the second sale process. There remain few other assets to be realized.

19. As such, the Monitor does not believe that holders of equity interests or equity claims of the Company, including Shareholders of the Company, will receive any value in the CCAA Proceedings on account of their claims or interests. The Monitor has informed the Financial Industry Regulatory Authority (FINRA) of this anticipated outcome

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BIOAQ GAME OVER. This is pretty definitive. It’s not like folks weren’t warned.

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FINRA notification is first step towards share cancellation.