BioAmber Inc fka BIOAQ

[trader59]

"Amounts owing that are subject to the KERP charge."

The KERP charge is being applied to some "amounts owing," ie - the proceeds from the SISP or second sales process. The KERP program was coming out of that sale, so those were the amounts that were subject to the KERP charge. Problem is, the amounts were not sufficient to pay off the secured debt, only covers about 10% of it, so the program requirements were not met, and no payments were made.