Replies to post #106721 on BioAmber Inc fka BIOAQ

[toncatmad]

That was only for the SISP. In the beginning when they were looking to restructure or someone to buy the business as a whole that was part of it. It said that if the winning bidder needed the existing shares could be canceled by amending the articles of incorporation. Since the SISP failed and it turned into a liquidation that wasn’t needed as not one single bidder wanted the company as a whole or the shares.
Mica stayed that in his response to G5 and it was also in the monitors reports. None of the bidders wanted the shares as evident by the bids

[trader59]

Once again, that is being misread. That whole paragraph had to do with a buyer for the company wanting to recapitalize, meaning they wanted to cancel the common shares and issue new stock to raise money. Nobody bought the company, so it is moot.