BioAmber Inc fka BIOAQ

[Koan]

There you have it, shareholders.

Do not take the tax loss!! - Real McCoy

Quite a direct statement. Of course, the interesting aspect to begin with is the overall topic of BioAmber shareholders choosing to forfeit shares for the purposes of a tax loss. For those who have the opinion that shares are worthless (note: being unable to buy or sell a share is not the same as "worthless"), it would seem odd to then tell shareholders not to take a tax loss. In fact, it's not even logical. It would make quite a bit more sense to simply outright suggest to shareholders to forfeit their shares because, after all, the opinion being advanced is that they are worthless.

So what gives?

Could it be the actual hope is that BioAmber shareholders do, in fact, forfeit their shares?! However, suggesting this directly to shareholders would result in a material gain to short investors since brokers require shares in order to close out any open short positions. Again, they must have shares in order to release any funds currently held as collateral in those accounts. So, the best they can do is to revert to some half-baked reverse psychological ploy and say, "Do not take the tax loss!!" Think of this tactical con as "The Real McPloy".

Inevitably, the response will be that there are no open stuck short positions. They will argue they were all closed out, they don't exist, nothing to see here, move along. And yet, in the same breath will come with extended and expert tax advice such as the following:

You may only deduct 100% of your stock losses if the losses stem from a company that went bankrupt so the stock is now worthless. You can't deduct 100% of the losses if there's any possibility of the stock having a positive value in the future. - toncatmad

Thanks for the expert advice, tax advisor! So, if there is any possibility of the stock having a positive value in the future, BioAmber shareholders definitely should not forfeit their shares. We all greatly appreciate the time and energy being spent helping guide shareholders to their own best interests, which apparently, they know not.

Still, it is what is not said that often speaks loudest. Nobody is directly recommending to shareholders to forfeit their shares for a tax loss or for any purposes. For good reason.

Now, there is no salvation in the responses that will follow that there are no open stuck short positions. In the first place, one could make the argument there are no open long positions. How would anyone know? Second, the motivation and time spent intending to discourage and demoralize shareholders into some "psychological state of acceptance" is precisely the kind of punitive action one would expect from someone who either has something to lose or something to gain. It is not, as we are embarrassingly led to believe, derived from some form of altruistic motivation to call out "BS" wherever and whenever it is encountered. And third, if not that, then the answer for such continuous punitive action taken against BioAmber shareholders over the course of 4 years is likely far, far, far worse, and for which my strong "opinion" is that one always has the right to remain silent.

Nobody cares about your state of mind. Nobody cares about your psychological journey as an investor. What "they" do care about, and the one thing BioAmber shareholders do have is shares. Shares, shares, shares. Oh those wonderful shares!

Take this on good authority, the super majority of those shares reside in the accounts of very few shareholders.

DO GOVERN YOURSELVES ACCORDINGLY