BioAmber Inc fka BIOAQ

[underdog150]

First bankruptcy investment?
https://www.chemanager-online.com/en/news-opinions/headlines/bioamber-files-chapter-11-usa-and-canada
Canadian sustainable chemicals company BioAmber has filed for bankruptcy protection in the US under Chapter 11. The company has also filed a notice of intention to make a proposal under Canada’s Bankruptcy and Insolvency Act for its two subsidiaries, BioAmber Sarnia and BioAmber Canada.

BioAmber opened its first commercial-scale plant in Sarnia in 2015, producing bio-based succinic acid based on sugars. The company said if it fails to achieve its financing and restructuring goals, it will likely be forced to cease operations and liquidate its assets.
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I had to wait 24 hrs to respond. If a company that was worth millions got sold for 4.3 million dollars why would They help 1 iota if you just got a fire sale steal at their expense. The last thing I am going to do is help you in any . You don’t give contact info away you keep it or you sell it . There is no way possible that all this coordination that has occurred happened without cooperation. That’s why there is more too this than 4.3 million dollars. BioAmber is cooperating with LCY chemical to help with this transition. companies working together to help each other through a liquidation with no benefit to come from it. Nope don’t think so . That would be like helping out the thieves. Obviously the problem here still is and has always been the interpretation of what has transpired. The hypothetical liquidation at 4.3 million dollars is comparable to somebody getting your house through a sheriff sale. You are not going to be welcoming them with open arms, you are not going to help them in any way. Just like BioAmber would not be helping this transition in any way unless they were too benefit by helping. I don’t know what the final outcome is going to be, I will tell you this I am man enough to accept the final result. I will know when it has been finalized and it hasn’t been yet. That’s a fact !!!!