BioAmber Inc fka BIOAQ

[trader59]

First, there was over $100M of total obligations on the books according to the 10th monitor’s report. That’s the one nobody likes to read because it busts all fairy tales.

Second, I’ve never looked at Delaware law concerning NOL usage in acquisitions, but I know the federal laws would essentially prohibit their use in a change of control. The IRS put rules in place to keep folks from doing acquisitions of dead companies for NOL’s, if they didn’t, the real companies would be snapping up stinky punks right and left since all of them have NOL’s. And, face it, BioAmber is dead and out of business, and any sort of acquisition would be flagged by the IRS and rule 269 used as a smack down for the NOL use.