Thanks for your comments. Been busy, so it took a few days to respond.
Right, good question. Who'll be able to take a battle to the "giants"? is a good question.
In a sense, it could start with current BioAmber shareholders ... in principle. I.E. just reminded us of the long-forgotten "secret bids" that were posted in June or early July, 2018, and immediately removed when PWC noticed the mistake ... or was it deliberately leaked? Who knows now?
Here's what we have going for us. I believe most of those who possessed shares at the end of 2018 still have them listed on their portfolios, despite a four-year effort to maintain a cloud of negativity about the viability of BioAmber, Inc., and its technology. Admittedly, we don't know exactly what's going on. Or at least I don't. But we know that succinic acid is being used to make products with BioAmber patents.
Our primary prospect is the fact that BioAmber technology is a technology of the future. It's not like, say, a blacksmith shop in 1910, or a new "energy drink" in a market saturated with tens of similarly products where competition is fierce. In the global marketplace, especially in places that lack natural energy resources, like Japan, say, succinic acid is golden, so to speak. Indeed, Mitsui made some kind of deal in 2017 to offset some of the financial issues the company faced when oil prices spiked.
My point is that those with an eye on the global marketplace, where several countries were working to raise their living standards, succinic acid would be something to keep alive and invest in, not abandon and liquidate.
It is notable that KKR joined the negotiations in the Summer of 2018. As a matter of fact, at the time, General David Patreaus, who commanded the Army's 101st Airborne Division in Iraq, later, the Multi-National Force that set up the Iraq security infrastructure, finally, U.S. Southern Command, was appointed Chairman of KKR's "Strategic Planning Committee." His experience in Iraq certainly, if nothing else, acquainted him with Energy Policy issues across the board for any market.
Don't you find it interesting that, even though we know KKR invested $1.56B to acquire BioAmber's technology, the outline and details of the "deal" or how the funds were disposed are still not fully public?
We have a forum participant with an obsession with the term, "liquidation," when the real obsession ought to be: knowing the value of BioAmber succinic acid technology, and knowing we invested in the technology and stuck to our decisions when BioAmber was working to restructure its financing IN SECRECY. Indeed, pulling from public awareness "sealed bids" made by PPT Global Chemical and Greenfield Global, Inc. (with Greenfield a Canadian company with a focus on renewable energy resources), are we to assume that these companies just decided to abandon all interest in renewable energy products at the height of the international "global warming" debate that blamed "fossil fuels" for much of the problem?
Keep in mind the international fight over the patents. We have companies from China, Japan, Canada, Europe, and the USA trying to get control of the technology. All we know is that Canada, China, Europe, and the USA had their foot in the door, so to speak, with acquiring the patents ... likely the plant in Sarnia being a secondary issue in the broad scheme of things. [I know, that's debatable.]
Let's just remember: in the broad scheme of things, BioAmber's accomplishments between 2015 and 2018 were major achievements, in spite of the Covid issue, and even the death of 2 judges in charge of overseeing the legal proceedings governing the financial restructuring of the company.
Like the fight over control of electricity at the end of the 19th century, you can be sure the fight to control the patents or for cooperative accommodation in producing succinic acid is historically momentous, no matter how it turns out.
My advice: Be patient, and thank the Lord for your shares!
