Replies to post #103881 on BioAmber Inc fka BIOAQ

[Real McCoy]

Another poster today wondered about the "10M capital raise just before the bankruptcy" here:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155768054

and this snippet reminded me that I could not find anything about 10M raised. What I did find, that Mr. Eno takes credit for in his generously worded bio, was a 7M raise.

So the second week of February they announced a 10M underwriting that failed and came in at 7M before fees and expenses, so a net of just over half the original desired amount. With 4M in cash at the end of 2017 and a crushing run-rate, it is very easy to see why the company was delisted 2 weeks later, received notices for failure to timely provide a quarterly report (and never made one again), and then declared bankruptcy.

So you are saying Mr. Eno went for 10M, got 7M, and while receiving the flurry of delisting notices/tardy report notices, likely tons of investor inquiries and finalizing his own resignation, he was concurrently working out this secret deal to be enjoyed AFTER he is gone??

[trader59]

Yeah, like ENO would put on his resume that he ran the company into the ground, resulting in bankruptcy, liquidation, and the end of business operations. That would be a real eye catcher. LOL!!