BioAmber Inc fka BIOAQ

[TenKay]

The $14 million AR is meaningless. Here’s why...

That June “filing” that has been posted regarding the initial BioAmber Inc. bankruptcy in Delaware was ONLY for the BioAmber Inc. entity itself. It was NOT for the consolidated entity. As such the “$14 million” would have included amounts owed by both BioAmber Sarnia and BioAmber Canada to the PARENT entity BioAmber Inc.

Those inter company amounts owing don’t matter once all the entities are grouped together.

The last 10K by BioAmber Inc showed the CONSOLIDATED financials with the AR as $4.9 million as of Dec 31, 2017. That was the amount owed to BioAmber Inc. by outside entities at that time.

That is the number PwC used as the opening balance as of Dec 2017 for their cashflow accounting throughout this process and as they have stated all AR that is recoverable has been collected.