There were 11 qualified bids received, 2 for all of the assets, and 9 others for parts of the assets. There were around 80 companies solicited in the call for bids.
The LCYB bid was a qualified bit, it met all the requirements. LCY's other legal issues had absolutely nothing to do with their joint venture with Visolis that submitted the winning bid. Why would it?
Tough to get "collusion" past the other 70+-ish bidders, even tougher to get it past the secured creditors owed around $40M who watched the whole of both of the processes (SISP and the liquidation).
If BioAmber's technology was soooo valuable, why'd they go bankrupt? Why couldn't they make a profit? Why couldn't they get a loan against that value or maybe show it in a prospectus to sell more stock? Here's a clue: It wasn't that valuable. There was one bid for the IP only, and it was less than $1M.
Conspiracy theorist? I'd characterize it as more tossing stuff against the wall trying to fabricate the next angle to keep the marks' attention diverted away from the reality that this was nothing more than a typical OTC pump and dump run on the fairy tale of a buyout of a company that was liquidated and shut down. A new "theory" is needed, since each and every one tossed in so far has been passed and has been proven to be just another fairy tale.
I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.
