BioAmber Inc fka BIOAQ

[trader59]

PWC is the monitor for the whole company to manage the bankruptcy proceedings. Yes, the company is bankrupt despite the initial filing for a possible reorganization/restructuring. Those failed.

The 10th monitor report is a summary of their activities, with the details in the prior reports.

The CCAA proceedings resulted in the liquidation of the plant and other assets. There's no disputing that. $4.34M was the purchase price for that.

After that sale, all that is left of the company is the shell, a minimal amount of inventory, $54k in remaining accounts receivable, and over $80M in debt.

All of that debt must be paid in order for shareholders to get anything, and the proceeds from the sale, accounts receivable, and inventory hardly put a dent in it, so shareholders will get nothing.

Those are absolute facts. Shareholders will lose 100% of their investment in this stock.