BioAmber Inc (fka BIOAQ)

[Brucebannerr]

They know the sludge contracts are as good as worthless. Much less worth enough to cover 80 million in debt . So they can pretty much anticipate shares in the debt ridden shell will be worthless . And as plainly spelled out this is the second sales process. Not a single word about a third sales process or a fantasy restructuring in any court filing .

The net proceeds realized 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$4.34 million. The cash on hand at the outset of the CCAA Proceedings and the net
proceeds from the Company’s other assets are expected to be almost 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 Second Sale Process. There remain few other assets to be realized.