Replies to post #134108 on BioAmber Inc (fka BIOAQ)

[trader59]

It's also unsurprising that those who bought stock in a bankrupt, liquidated, shut down company couldn't read 2 whole pages and understand what it was saying and, in fact, get hung up on 2 words in one paragraph that is irrelevant to the others.
See that paragraph 4, "Recapitalization," that was an option? IE (pun intended) "Bids can be submitted..." That means that the bidders weren't required to include recapitalization in their bid, and, if one were to ever read the 6th monitor's report, they'd see that none of the 11 qualified bidders did.

[toncatmad]

Well just go read line C and it will clear all that up. Add one of those fancy red lines under the words EXCLUSIVELY AND OR to help clarify it for everyone

C. It pertains to the acquisition of the assets, or some of them, EXCLUSIVELY OR to the recapitalization

The if applicable is for if multiple pieces are wanted it would be broken out in separate allocations for each one but if they wanted all of the assets it would be one allocation hence the “if applicable”
It is not stated on the recapitalization line because how would you recapitalize bits and pieces of one company?

Pretty simple. Any bidder could choose to bid on the assets in whole or in part EXCLUSIVELY OR they could bid on the recapitalization.

So they had a choice to buy the assets EXCLUSIVELY or recapitalization and LCYB (along with all the other bidders) only bid on the assets which met the terms as stated. LCYB also had the financial means, could meet the deadline, turned in their deposit. LCYB followed all of them along with all the other bidders.
LCYB was not required to bid on the recapitalization and the assets nor was anyone else. Once again this is just another attempt to twist the words.

If one reads and is able to comprehend then it’s clear to see that all bidders had a choice of assets all or in parts or to recapitalize BioAmber and not one bidder wanted to do so. Why spend $80-100
Mil covering the debt when it was all bought for $4.34 mil. Why spend all that when all of the assets, IP, trade name, trademarks, patents, plant and land were all had at a fraction of even their original estimate.
Then they would also have to deal with shareholders who don’t even have the most basic understanding of how a corporation works. Instead it was easier to simply throw in a low number and get everything except for the corp and the shares dirt cheap and all legal like LMFAO!!!