Monday, April 22, 2019 12:49:40 PM
First of all, "The Company" is actually 3 companies, BioAmber Inc, BioAmber Sarnia, and BioAmber Canada. PWC reminds stakeholders of this on every new Monitor's Report issued.
Since PWC is currently working to realize value for BIOAMBER INC's (USA) assets like the Cargill exclusive worldwide licensing agreement, then it cannot be a SHELL.
A company must notify the SEC immediately if it has become a SHELL...
BioAmber Sarnia has no more assets, it is essentially a shell.
BioAmber Canada has never held assets of value, it is now essentially a shell.
BioAmber Inc still holds contractual licensing and non-assertion agreements, Executory contracts and tax loss carryforwards. BioAmber Secured creditors have zero security over BioAmber Inc SHARES or ASSETS!
BioAmber Inc IS NOT A SHELL
BIOAMBER INC = COMMON SHARES
If continuing Companies Creditors Arrangement Act Proceedings will cause hardship on creditors and use of their funds, PWC in its role as Monitor must immediately transfer to Bankruptcy or Receivership proceedings.
THE COMPANY HAS BEEN IN COMPANIES CREDITORS ARRANGEMeNT ACT PROCEEDINGS FOR EXACTLY 6 MONTHS POST VISOLIS TRANSACTION, OCTOBER 22nd 2018!
ONCE AGAIN BIOAMBER INC HAS MINIMAL DEBT!
CANADIAN CREDITORS WILL BE TAKEN CARE OF THROUGH THE COMPANIES CREDITORS ARRANGEMENT ACT! ITS SIMPLE STUFF
WHEN a PLAN OF ARRANGEMENT has been filed The Purchaser (LCYB?) can acquire all of BIOAMBER INC shares and continue the business and utilize all of the NOL's!
Since PWC is currently working to realize value for BIOAMBER INC's (USA) assets like the Cargill exclusive worldwide licensing agreement, then it cannot be a SHELL.
A company must notify the SEC immediately if it has become a SHELL...
BioAmber Sarnia has no more assets, it is essentially a shell.
BioAmber Canada has never held assets of value, it is now essentially a shell.
BioAmber Inc still holds contractual licensing and non-assertion agreements, Executory contracts and tax loss carryforwards. BioAmber Secured creditors have zero security over BioAmber Inc SHARES or ASSETS!
BioAmber Inc IS NOT A SHELL
BIOAMBER INC = COMMON SHARES
If continuing Companies Creditors Arrangement Act Proceedings will cause hardship on creditors and use of their funds, PWC in its role as Monitor must immediately transfer to Bankruptcy or Receivership proceedings.
THE COMPANY HAS BEEN IN COMPANIES CREDITORS ARRANGEMeNT ACT PROCEEDINGS FOR EXACTLY 6 MONTHS POST VISOLIS TRANSACTION, OCTOBER 22nd 2018!
ONCE AGAIN BIOAMBER INC HAS MINIMAL DEBT!
CANADIAN CREDITORS WILL BE TAKEN CARE OF THROUGH THE COMPANIES CREDITORS ARRANGEMENT ACT! ITS SIMPLE STUFF
WHEN a PLAN OF ARRANGEMENT has been filed The Purchaser (LCYB?) can acquire all of BIOAMBER INC shares and continue the business and utilize all of the NOL's!
BioAmber is currently in the midst of a complex restructuring through the Companies' Creditors Arrangement Act.
NOT BANKRUPTCY
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