BioAmber Inc (fka BIOAQ)

[TheRealMrPirate]

Random, I respect that you're actually digging for info instead of running with the nonsense some post here. It wasn't the offering or warrants that were the issue. Bioamber fudged numbers, that was the issue. Also how the class action got started, they over stated numbers to make their balance sheet look better before the offering. It crashed the stock but the kick in the nuts was financers cut the rope, no one would lend them another dime after that. The delisting down to OTC pinks cemented their fate. Their debt ratio was massive and major creditors wanted some form of payment which was never coming. Rather than have the company be forced into bankruptcy and get nothing, they pushed the company to restructure but that 30 day protection ended. After so many life lines and never turning a profit, no one was willing to give Bioamber anymore credit. A short summary of where we are today. Unfortunate but years of incompetent management and now LCYB will fix it and turn profit. They have the pockets to make a go of it.