Replies to post #130767 on BioAmber Inc fka BIOAQ

[Real McCoy]

This company was liquidated of all its assets.

Anything else is made up fantasy.

[I-Glow]

So it was a loan guarantee from the DOE and that was in September 2016. And that loan never came to fruition.

"Sept. 21, 2016 /PRNewswire/ - BioAmber Inc. (NYSE: BIOA) is pleased to announce an important milestone in its application for a $360 million loan guarantee from the U.S. Department of Energy (U.S. DOE). This loan guarantee is in connection with the Company's goal of securing non-dilutive funding for its proposed second manufacturing facility that would be located in the United States."

In the 2018 10-K Bioamber had not received any part of the $360 million loan - and they were trying to get funding from Canada and that didn't happen.

"In the fall of 2016 we announced an important milestone in our application for a $360 million loan guarantee from the DOE. The DOE’s Loan Program Office, or LPO administers a four phase process under the Title XVII Innovative Clean Energy Projects loan guarantee program. This program finances innovative renewable energy and efficient energy projects. We had successfully completed the first two phases of the process and were selected for the next phase in which we have engaged the LPO in the negotiation of terms and conditions of the potential loan guarantee, and we have been working with the LPO to validate the engineering, environmental, market and financial information that we had submitted in the previous phases. We completed the first two phases of this process under the Obama administration. There can be no assurance that the Trump administration will continue this program. Accordingly, there can be no assurance that we will be able to secure the U.S. DOE loan guarantee. We have also been engaged with Canadian federal and provincial agencies in a similar process to secure low interest loans to build the plant in Sarnia Ontario, rather than in the United States. Our discussions with Canadian federal and provincial agencies are being impacted by their desire to see improved financial performance at our Sarnia facility. There can be no assurance that we will be successful in securing low interest loans from Canadian federal or provincial agencies."

So there was never a $360 million loan.

IG