Replies to post #82009 on BioAmber Inc fka BIOAQ

[HymanMinsky]

very much anticipating the discharge certificate!

[trader59]

REALITY:

1. BioAmber is completely out of business. The assets were sold off in liquidation. There's nothing of value left.
2. BioAmber has no employees to do anything, much less fulfill a contract to deliver corn sludge.
3. BioAmber is carrying a debt of $100M. With nothing of value to acquire, there's only debt.
4. That Vinmar contract is dead. BioAmber is in breach of that contract.
5. Any company that wanted to supply Vinmar with corn sludge can certainly contact them and make their own deal. It would be really stupid to take on $100M of debt while doing so.
6. An "impaired claim" is one that is not being fulfilled in bankruptcy proceedings. The shareholders have an equity interest/claim in the company that is not being fulfilled at all, they receive zero in recovery from the liquidation sale of the assets and the rack up of the inventory/tools/spare parts/small item sales. That is 100% impaired. That's really basic stuff.
7. BioAmber's early filings assumed they'd get value near what their appraiser had stated, or that an entity would help them restructure, refinance, etc., for operations to continue. It is not reality to ignore the fact there was no interest from anyone in doing that and the liquidation sale went for pennies on the dollar.

It is ridiculous to claim "reality" and ignore the very clear outcome of these proceedings. That's how fairy tales are told and that's how shareholders lose 100% of their investment in out of business, empty, debt ridden shell companies.