First off I apologize for calling you clueless. There is a disconnect between what actually happens in a liquidation and what the DD fabricators tell you what happens.
I highly doubt anyone is looking into this. Yes I’m sure they are saying they are but I doubt they are. Anyone who publicly states there are still open short positions in a 5 year past liquidated company is either lying or literally clueless and hasn’t spoken to anyone lol.
Don’t believe me if I were you I
would go speak to an actual professional to get answers you’re comfortable with. If you do and give him all of the actual info (court docs, monitors reports, sec filings and the like) I GUARANTEE you they will tell you the exact same thing as us so called bashers are saying and they will tell you the good things coming crew are just a bunch of liars who don’t have a clue how any of this works.
For someone to say LCY is holding BioAmbers CUSIP for later use, that an open short exists, that the active status with 3 years of overdue filings is a good sign, to add up FTDs (lol still love that), that a SPAC that closed over a year ago from a completely unrelated company is going to pay $1.4 billion plus 48 mil interest to shareholders of a company liquidated 5 years ago for $4.34 mil, or that there could ever be a super secret second transaction in a PUBCO a liquidation that will pay shareholders multiple times its total debt load have no clue at all. That’s just a short list of the lies they tell. See how the story changes for them. Now look the so called bashers story never changes because the truth is always the same.
In a liquidation or liquidation scenario (all the same) all assets are offered up for sale to try and clear the debts. So in this case where FKA BioAmber had $100 mil or so of debts and Zero buyers to take it on as a going concern this was offered to be liquidated. Once that happens almost 100% of the time shareholders will get nothing as they are last in line.
So you have BioAmber a company that never even came close to making a profit, was burning cash daily, amassed a couple hundred mil in NOLS (which are useless by the way) and wasn’t able to borrow more to keep going. So they tried the first SISP and that failed the second is where the liquidation came in. So Eno and the BOD resigned and let go of all the employees. You can see all of the bids none were for higher than LCYB. You or I could have bought the assets with a bid of $5 mil if LCYB didn’t want to go higher.
So all of the assets, the patents, IP, Tech that was owned by FKA BioAmber automatically gets put up for sale in a liquidation. So LCYB purchased all of the assets the tangible (plant, land, etc. any and all items of value they wanted in all 3 lots) the intangible (the patents, tech, IP, trade names, trademarks etc.). Since LCYB didn’t force the contracts whatever tech was being used under those contracts owned by a third party went back to that third party.
Believe me don’t believe me it really makes no difference as this ended going on 5 years ago. If you go speak to someone outside of the DD Fabrication team I GUARANTEE you will be told what I said and us bashers say is the truth.
