Replies to post #122602 on BioAmber Inc fka BIOAQ

[toncatmad]

Why is it that the liquidation doesn’t pass the sniff test? Companies are liquidated all the time and shareholders get screwed as do creditors.
Many many times over history companies end up in the same boat. Massive amounts of debt, no way to borrow more money and no way out. No company wants to come in and pay all that bad debt so they wait and pick up all the assets for Pennie’s on the dollar. This is nothing new by any means.
If BioAmber had a way to make Billions then they wouldn’t have needed to file bankruptcy, CCAA protection and finally liquidation.
Just because LCYB has the chance to step in, but the assets and make loads of cash moving forward doesn’t mean it was all done illegally.
LCYB has put millions into tooling and new product lines before they even started producing. LCYB has the financial backing of LCY and KKR so they have the funds to not only perfect BioAmber’s old process but to add to it and make a good bit of money possibly for their troubles. Yes LCYB could possibly make billions if they do things properly where BioAmber failed but it’s not guaranteed by any means and LCYB has the money to make it go. BioAmber simply ran out of money and that’s that.
There is nothing illegal about picking up another companies failure and turning it into something profitable.
I also understand the need to blame someone. Might want to start with the ones who sold the outright LIE that more was coming when the monitor, court and lawyers all stated quite clearly that there was Nothing left for equity investors (shareholders). As it stands now the only thing former BioAmber shareholders have left is about $60-80 mil of old debt, a bunch of worthless shares, a defunct shell of a company and this board.
If there was even one shred of hope that BioAmber would come back they would have to have been filing SEC, financials, Delaware filings, tax filings and all the required court docs as well and not one has been filled since this ended in 2018.
The blame should fall on BioAmber, the BOD and the liars that sold the more to come fairytale and not the ones who pointed out the lies but that’s just my opinion.