Replies to post #66703 on BioAmber Inc (fka BIOAQ)

[1manband]

There is NO reorganization, and shares will be cancelled.

PwC has made it VERY clear the assets were sold for $4.3 million, and only the first 2 secured creditors are receiving partial payment. All others, including common shareholders, get nothing. The "DD" is nothing but misinterpretations, at best, all of which have either been directly contradicted by other facts in the court motions, subsequent filings, or US Bankruptcy Law.

The common shares WILL be cancelled by law. There is absolutely no chance that the shares are safe. There is no "stalking horse" bid, or is there any plan of reorganization, both of which would have had to be filed with both the Canadian and US Courts a long time ago. But, alas, there are no filings. They are just ridiculous fantasies with no basis of fact.

Anyone holding BIOAQ shares will lose 100% of their investment. Guaranteed.

[trader59]

No payments were made for the KERP because the program requirements were not met. This motion describes and requested the KERP:

https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-015_071818.pdf

The KERP was to be paid out of the proceeds of the SISP. Payments were subordinated to repaying the DIP lender in full and the secured creditors in full from the successful SISP proceeds. The program was requested and approved on that basis, the employees would help sell the company and/or plant, everybody with a secured claim gets paid, and the employees get their KERP bonuses from the leftovers.
Problem was the SISP didn't get a single bid, much less one that paid the secured creditors in full. The requirements of the KERP were not met.

As further proof, every monitor's report has a cash flow report in it, and there have been no payments made for the KERP program.