Replies to post #67925 on BioAmber Inc (fka BIOAQ)

[trader59]

And, once again, most all of the monitor's reports to the court include the cash flow and financial statements for the company. They show the current status of the collection of the accounts receivable, the sale of remaining inventory, and payments of the obligations of the company. They're right there for anyone to see, but some choose to ignore that because it doesn't fit the fantasy that somehow an empty, debt ridden shell is going to survive bankruptcy proceedings.

This company has no operating assets, no income, and can't even come close to paying its secured debt, much less the unsecured debt and other obligations. Once this returns to the US courts in that state, the judge will discharge the remaining debt along with the equity (all classes of stock). The company will then cease to exist.

That's how it works, and that's what happens every time.

Shareholders will lose 100% of their investment in this stock. There's no doubt.

[Brucebannerr]

From May too present date . So all those old documents are meaningless according to pwc . Or is this statement to the court not what they really mean ?

18. The net proceeds realized to date, and anticipated to be realized, are substantially less than the
quantum of the Company’s secured and unsecured claims. The proceeds from the Visolis Transaction
totalled US$4.34 million. The cash on hand at the outset of the CCAA Proceedings and the net
proceeds from the Company’s other assets are expected to be almost fully used to pay the costs of the
CCAA Proceedings, including the Company’s operating costs as well as the costs associated with the
SISP and Second Sale Process. There remain few other assets to be realized.