Replies to post #68927 on BioAmber Inc fka BIOAQ

[JohnR767]

Your DD is spot on CSCS

[trader59]

First of all, BioAmber, Inc., owns the 2 Canadian subsidiaries. You cannot disconnect them for the purpose of this bankruptcy, especially not to somehow sever the massive debt from the parent company. That's ridiculous to even suggest. Just because the assets the liens were against were to a subsidiary doesn't mean that BioAmber, Inc., can get away from the debt. They can't.

Secondly, those contracts/contractual rights are worth $408k, at the most. That's the price they were offered to the buyer to in the bankruptcy liquidation, simply the amount of unpaid royalties for 2018. There's no gold mine there, just a little more for the 2 secured creditors who are seeing anything from this bankruptcy.

[I-Glow]

You have completely misrepresented the facts - in the 11th Monitor's Report it clearly states:

"47. As previously reported to the Court, the Monitor does not expect any net proceeds to be distributable to creditors other than the Secured Claimants."

The nonsense about BioAmber Inc. is more pinkyland wishful thinking - certainly not back by facts.

There isn't 3 separate bankruptcy filings as you suggest.

IG

[I-Glow]

This is pretty funny:

"A company must notify the SEC immediately if it has become a SHELL...


BioAmber Inc. still holds contractual licensing and non-assertion agreements, Executory contracts and tax loss carryforwards. BioAmber Secured creditors have zero security over BioAmber Inc SHARES or ASSETS!"

The company is in bankruptcy so there isn't any reporting obligations concerning shell status - they haven't filed any financial information since 12/31/2017.

The Officers and Directors resigned - the assets have been liquidated.

The buyer didn't want the contracts - the buyer didn't want the NOLs because they can't be sold separately - the buyer would have had to purchase the entire company and the liabilities were crushing.

If BioAmber was in such great shape why did they file for bankruptcy?

The Common shares are a dead man walking.

IG