OTCPK:BIOAQ - Post by User
Comment by
dalesio_98on Feb 04, 2019 5:55am
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Post# 29313366
RE:RE:Questionable Warning about BIOAQ ...
RE:RE:Questionable Warning about BIOAQ ...dalesio_98 wrote: InvestorsHub Admin responds to InvestorsHub members:
Much has been made here today about certain content in the Infobox that some have demanded be removed because it is allegedly false. As I have already told a number of you, Admin on this site do not remove content base upon its veracity or truthfulness.
Each user of the site has the opportunity to evaluate that content and decide for him/herself whether it is truthful or not and respond accordingly. Admin is neither qualified nor interested in making such determinations and will not remove such content unless it is found to be noncompliant with the site's rules. In this case, I find no basis for such a determination.
Do not reply to this post as such replies will be deemed off topic.
dalesio_98 wrote: Warning posted at the
InvestorsHub BIOAQ forum, which is questionable, as the CCAA Court has not decreed anything of the sort at this juncture.
IMPORTANT NOTICE !!
Company Liquidation in Progress.
Shares Will Be Canceled once the Bankruptcy Process
is complete, and FINRA Has been Notified.
Once shares are canceled, they will no longer exist for trading.
Cancellation of the common shares will happen. See Section 1124 under Title 11 of the US Bankruptcy Code.
Good luck to all,
dalesio_98
Additional content added to iHub BIOAQ page: ========================== BioAmber IS CURRENTLY BANKRUPT under Chapter 15 of the US Bankruptcy Code. https://www.pacermonitor.com/public/case/24653251/BioAmber_Inc_and_BioAmber_Inc ========================== There is no plan of arrangement. All attempts at reorganization failed, which is why the Company was liquidated. There is nothing of value left to reorganize, which is why the company is being wound up. ========================== The docs are VERY clear. There is no restructuring. That failed. All the assets have been liquidated and ALL the BioAmber companies are being wound-up. ========================== Once the Canadian Proceeding is closed it will move back to Delaware (as BioAmber Inc. is a Delaware Corp) which is where Mitsui and Bridge will duke it out and then the remaining debt of BioAmber Inc. will be expunged and the equity along with it. ========================== Here is an informative article by the President and CEO of OTC Markets about Short "Volume" v "Interest" https://blog.otcmarkets.com/2018/11/13/understanding-short-sale-activity/ Short VOLUME is not Short INTEREST even though promoter run websites like OTCSHORTREPORT try to portray short VOLUME as naked short INTEREST. Its not...in any way. The short interest on BIOAQ as of January 15, 2019 was a little over 21,000 shares. ========================== There is no restructuring or sale of the company as PwC has disclosed. As a result it went to liquidation at the end of July. Plant sold for $4.3 million US and there is no value coming to the equity claims. ========================== The secured creditors have been approved thus far a total of $3.5M recovery, final distributions still pending. They were owed a total of $39.4M The unsecured creditors have received $0. They were owed a total of $23.8M. The only transaction was the sale of the assets for $4.34M and the sell off of the remaining inventory, there is nothing else. ========================== Teke it from the monitor, shares are not safe. Shareholders are going to lose 100% of their investment in this stock: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146530874 ========================== Good point-by-point explanations: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146547312