Replies to post #104706 on BioAmber Inc fka BIOAQ

[Brucebannerr]

A little DD goes a long way . I know its hard when it doesn't fall in line with the fairytale desperation spin .

. If you don’t pay the Delaware Franchise Tax and file the Annual Report for two straight years, the State of Delaware will administratively dissolve the Corporation.

Penalties: a. A penalty of 1½% per month is imposed on the failure to pay, timely pay or underpay any estimated tax installments. b. Late Returns are subject to a penalty of 5% per month, up to a maximum of 50% of the tax due plus interest of 1% per month from the original due date until the tax is paid. In addition, an additional penalty of 1/2% per month, not to exceed 25%, is imposed for failure to pay (in whole or in part) the tax liability due on a timely filed return.

[Brucebannerr]

The dead company is now under void status. Penalties and interest are compounding monthly. The clock is ticking on Delaware totally dissolving the corporation. Once that happens there is no saving it even if taxes are paid . Perhaps a desperate gofundme account to pay those taxes and keep the dream alive . Much like the patents . Delaware dosent care who's name is on the check . But the dead company will still be dead as Delaware law still requires a registered agent and at least one director . Though I believe the dead companies charter requires 5 . With no directors legally in charge nothing can happen to revive the company. At least thats what the law says . Not sure how it works in fantasy land . Cawwwwwww

Failure to pay a Delaware franchise tax for your corporation or LLC will eventually cause your company to be marked as "void" with the State of Delaware. "Void" status will prevent you from obtaining a certificate of good standing. In addition, interest and penalties will accrue until your franchise tax is paid up to date. If your LLC or corporation has become VOID, you'll need to renew and revive your company.