Let us not forget:
1. Reports indicated that Rick Eno was specifically hired in 2017 to guide BioAmber on a path to restructuring its finances, after nearly two years where oil prices dropped and corn prices rose, having a calamitous reduction on the companies expected revenue.
2. Eno and Dugar (and likely an emissary from Bowie Lee) met at one of two conferences (or both) on Renewal Energy, etc., in San Francisco in September, and Sarnia in November ... plenty of opportunity to plan for a merger. Both had prior business with PWC. PWC had prior business with KKR.
Eno did plan a shareholders' meeting. He didn't have to reveal the plan in advance of it. Alas, Bowie Lee lost a trial in Taiwan.
I believe the plan was to save the company, and save the technology. BioAmber's product was acquiring attention.
Then came Covid ... and two judges passed away after 2018.
Finally ... with Eno holding at least a million shares ... the shares were never canceled.
Ah ... keep the shares, trust the plan ... and whatever adjustments had to be made during a tumultuous time. And trust some very good Due Diligence on the part of some very intelligent and optimistic shareholders.
