Replies to post #105572 on BioAmber Inc fka BIOAQ

[Real McCoy]

He’s talking about taxes, which have not been paid and is why charter was eventually revoked.

Court is over as the case was closed and the Monitor discharged. The secured creditors received payment of all remaining sums so there is no money remaining to pay anything.

No one will be buying shares in a liquidated company. If the shares had any value it wouldn’t have been liquidated.

[Brucebannerr]

That fairytale is sadly lacking any facts. Who will be paying the back taxes and how did they get there ? Board and all directors resigned long ago . Zero sec filings since October 2018 . Plainly spelling out what happened .
On October 22, 2018, the Company completed the sale of certain of its assets to LCY Biotechnology Inc. (previously 9384-3076 Québec Inc.). These assets comprised all of the Company’s assets, save and except for the cash, accounts receivable and inventory of the Company, and also excluded certain U.S. based office equipment. The purchaser did not seek the assignment of the Company’s contracts, which meant that certain intellectual property under license from third parties was also not transferred to the purchaser.

This transaction was approved by the Quebec Superior Court of Justice on September 18, 2018, and by the United States Bankruptcy Court for the District of Delaware on October 9, 2018.

The liquidation of the Company’s assets will result in little to no residual value for non-secured creditors, and no residual value for equity investors of the Company.