Replies to post #133311 on BioAmber Inc fka BIOAQ

[Real McCoy]

Yikes so you’re going with “I have nothing”?

I am not sure anything “remain enforce” so many years after the end.

[toncatmad]

Instead of wasting all this time it would have been faster for LCY to simply pay off the debt. It would have cost them what $80 mil?
Then they would amend the articles of incorporation and wipe out the shares as stated in those same terms you speak of. They would then issue new shares and sell them to raise capital.
So why would they bother with shareholders at all when they simply don’t have to.
I mean $80 mil in debt would be cheap compared to the $4.15 per share I have seen. I mean that’s what $500,000,000 to buy the shares right? That is the dumbest thing I have ever heard. It states in the APA that the purchaser could in fact amend the articles of incorporation and wipe out the shares.
One last question why does the final 8k state that none of the existing creditors got paid off and that there was no value for equity investors of the company out of the LCYB transaction?

[shajandr]

Dude, the former BioAmber has no officers, no board of directors, and no employees whatsoever. Even if it still existed, it could nott conduct ANY business or ANY transactions, even those required to bootstrap it with newly appointed directors and officers, as there is nobody to appoint anybody.

BioAmber is as dead as Abe Lincoln and Vladimir Illych Ulanov (Lenin). And John Lennon too.

It's GONE. GONE, baybee, G-O-N-E.

The only thing that remains are the DEBTS that remained unpaid in the liquidation. UNLIKE personal Chapter 7 bankruptcy, in a corporate Chapter 7 bankruptcy debts are NOTT discharged, they remain even when the corporation is dead - and that keeps anyone from trying to hijack it because to the extent ANYTHING remains, it is a huge debt load of unpaid debts left over post-liquidation. And any Dollar that would be used to recapitalize would be immediately seized by remaining unpaid creditors.

AND, altho there are no remaining assets, IF there were, the remaining unpaid creditors would have claim to those assets, nott shareholders or the corporation.

So, there is simply no possible way any of the bizarre hypotheses about BIOAQ shareholders ever getting ANYTHING are utterly, totally, completely, unambiguously ABSURD and FALSE.