Replies to post #58923 on BioAmber Inc fka BIOAQ

[trader59]

Sure, the "reorganization plan" was in the 2nd monitor's report, recommend reading all of it:

https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-010_061818.pdf

It centered on the SISP process, which failed to get a bid.

https://investorshub.advfn.com/uimage/uploads/2019/1/24/ozxvgba14.jpg[img][/img]



The results were in monitor's report 4:



And there is no other transaction, the very mention of it is a ruse intended to sell stock. The assets have been sold off, this is an empty shell with $59.7M remaining debt and no operations. Why would anybody purchase that and why would the monitor not disclose a $60+M transaction to the court/judge?

[Brucebannerr]

The last words from the monitor in the last report . Could drop any day . Nothing in there about any fantasy deals . When ccaa is terminated. Its back to Delaware as a debt ridden insolvent empty bankrupt shell.

Distribution and termination of CCAA Proceedings
44. Once all of the foregoing matters are resolved, the Monitor will seek an order of the Court to
distribute the remaining net proceeds of the Company to the respective Secured Claimants
according to their security and priority. As previously reported to the Court, the Monitor does not
expect any net proceeds to be distributable to creditors other than the Secured Claimants.

[Skykid]

If the second offer by LCY would create a complete recovery then there would be something in this for the stakeholders. Yet in the letter to Crane, it states we get nothing. Now should there be a transaction when the CCAA is done then the LCY letter would not have been mentioned. Therefore inside the letter there is not enough to cover the shareholders. Now since this is a restructure Bioamber shares are alive and we can be compensated with the value of the shell, yet in that case so should
unsecured crediters can also collect the debt...Now 320 million in nols should have enough to pay who....When its all said and done, how much will be left...We are worth the 1.8 billion. Now after reviewing and beleiving there is more, we are not going to get close to our 4$......