BioAmber Inc fka BIOAQ

[Real McCoy]

Unfortunately that’s how it worked out. The whole lot of assets sold for the 4.34M, which together with the net cash on hand, was to be split between Bioamber Sarnia and Bioamber Inc. 673k was to go toward Bioamber Inc. Comerica was deemed to have a priority interest to Mitsui and so Mitsui would get no recovery from amounts going toward Bioamber Sarnia. Mitsui agreed to accept 77% of the 673k as it’s only recovery, knowing that at the conclusion of bankruptcy their security over the IP would be wiped out (a moot point, as the IP was gone at that point anyway). This was actually in the 12th report, not the 11th, my mistake.