BioAmber Inc fka BIOAQ

[1manband]

Here's the math, like it or not:

Your math is far too optimistic - you forgot 3 things.

First, a number of the NOL's would automatically be cancelled when acquired. The IRS has done that to make sure dead companies are not acquired for tax avoidance. So immediately knock 50% of the NOL's off the top.

Second, the NOL's may also be accelerated. So ones that previously were to expire in, say, 20 years, may now be only 4 years. That significantly reduces the value.

Third, NOL's can only be applied against profits. They are NOT tax credits. It is highly unlikely that anyone would be able to make enough profit during the period before expiration to fully utilize them. Again, that significantly reduces their value.

The NOL's may be worth a couple of million, at most. That certainly is much less than the amount of debt that would come with them.

In the end, the NOL's are worthless.