Once a company’s assets are sold, its over for the common equity which is exactly what they are telling you in that letter. They have claim to nothing at that point. The underlying business only has its debt left on the books and that will be discharged at the conclusion of the bankruptcy in the US. That will require the elimination of the equity at the same time.
Although we are good. Your dd is unbeatable.....Bioamber has lost its value when giving up their prize IP To Mitsui in Aug 2017....Now this is a tell situation. They would not have done that if they wanted survival...Now on the other hand the CCAA for 14 million...Restructure seems like what it is, and so we are good....
There is not another transaction coming for this company, the assets have been sold off, all that remains is an empty shell $59.7M in debt, no operations to pay back any of it. The narrative that the court appointed monitor is willfully concealing a $60+M transaction after fully disclosing the $4.3M asset sale is poppycock, especially when they told the judge in their most recent motion this was all they had left to do:
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