BioAmber Inc (fka BIOAQ)

[I-Glow]

First, if a company purchased BioAmber they would also be acquiring the Liabilities in which BioAmber filed for bankruptcy.

The NOLs can't be sold separately - plus if a company were foolish enough to buy BioAmber they don't get access to the full amount of the NOLs.

Since there was a asset liquidation - the NOLs really are worthless and can't be used by anyone.

There is a hierarchy of who gets paid first....


1. Secured creditors
2. Unsecured creditors
3. Preferred shareholders
4. Common shareholders

With BioAmber the secured creditors are impaired - so they will vote on the POR.

But the unsecured creditors - preferred and common shareholders won't get to vote because the Court assumes since they will be wiped out they will vote against the plan.

It would be illegal for the secured creditors to be impaired but the common shares would remain intact.

That is why you will see thousands of posts saying the "shares are safe" - but not once have they provided any proof - all they have is pinkyland wishful thinking.

So the answer to your question is that there won't be any shares to buyback - and no company to buy them back.

IG