Replies to post #3543 on BioAmber Inc fka BIOAQ

[TradeReaper]

MONTREAL, June 7, 2018 /CNW Telbec/ - BioAmber Inc. (OTCPK: BIOA) ("BioAmber" or the "Company") announced today that its Special Meeting of Stockholders which was held on May 18th, 2018 and adjourned and initially rescheduled for June 8th, 2018, has been suspended by the Superior Court of the Province of Quebec, Commercial Division pending further order from such Court as a result of a Court Order issued in Canada on May 24th, 2018 (the "Court Order").

That meeting was suspended per COURT ORDER.

[QTRADERQ]

JDP2000, respectfully, you are mistaken. 6/22 is not a 'Special Meeting' as you claim in your post. The 'Special Meeting wa suspended.

The next meeting is June 22,2018 will see if what happens.

6/22 is the date BIOAQ will request a continuance of the Stay of Proceeding which I'm 99% certain they will be granted.

HERE'S WHY

1) If BIOAQ receives interim DIP Funding (which is expected), then the Judge will grant a continuance of the Stay of Proceeding which BIOAQ is seeking (Par 144 - 148 in the Initial Order), and then the company will seek to reorganize its debt with its secured creditors.

2) On the other hand, if they do not get DIP Funding, then BIOAQ has indicated that they will not be able to pay their bills, and therefore would need to seek immediate alternative plans such as liquidation or selling to highest bidder.

* All of the above is explained in the Canadian 'Initial Order' dated 5/22/18 which I highly recommend you read (if you have not already).
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-005_052818.pdf