Liminal BioSciences Inc. LMNL

Mr. Obvious

[aussyspitz]

"Restructure is always bad for the shareholders specially when debts exceeds your MC"

No Kidding Mr. Obvious but this restructure is very different because it is a result of a self created debt crisis and it most certainly wasn't their only viable option available although I am sure their legal team absolutely presented it that way"

"IMO the MC was deliberately destroyed to create the illusion of drowning and the debt was convienently called 5 years early and significantly inflated via unpaid interest. This allowed a newly formed subsidary of SALP who likely had inside information to use debt leveraging to allow a previous 3% stakeholder in coordination with Thomvest to forcifully confiscate 85% ownership using a TSX hardship loophole to avoid a shareholder vote. Then submitting the application on a 3 day weekend where it was rubber stamped without much thought and then of course you welcome the AMF aka "Keystone Cops" to do a cursory investigation in order to wrap it up all nice in case closed legal bow'

While I do think a lawsuit is a longshot I do not think it is impossible all it would take is for one brave whistleblower to grow a conscience and come forward or someone to spill the beans under oath.

The long shareholders would have likely made out significantly better in bankruptcy court as the MC before they started playing games was relatively solid the IP and company assets would have been auctioned off to the highest bidder if the IP was worth the billions of dollars it is supposed to be then the 200Million debt would have been chump change to a potential buyer. The shareholders would have likely also been offered a much better deal than 20-1 if they had been given the opportunity to vote on a restructure.

I am not telling anyone to sell. If you believe in the science and you think this is the greatest management team on the planet good for you invest to your hearts content and be sure and copy and paste the same old post over and over to stay on top of the poster board go for it pump this stock to high heaven but for Pete's sake don't say the restructure and rights offering was fair because that is complete and utter baloney and myself and many others on this board will continue to call you out on that.

[Francois33]

Aussyspitz, Great post my friend, the best one in a very long time here. Yes everybody knows that except mr. Moron and aliases. Only one post in 3 days on the board (yours) Wow...  The crickets board, all talking to themselves. put them on ignore, it's peaceful. Thanks again, Francois33 

[GoBBs]

Well said aussyspitz . Its been a year and its interesting the primary roadblock to a partnership they SAID was "the debt" which has now been removed YET they still have not closed a partnership despite have no debt...Isn't that interesting.

[realstocky]

This post has been removed in accordance with Community Policy

[charm7]

This post has been removed in accordance with Community Policy

[PLITheOne]

Perfect post!!  These criminals knew exactly what they were doing in order to steal Prometic from investors. There were many options available and they choose the one that screwed investors to benefit themselves. These pompom posters on here are the same type of people who would shake Harvey Weinstein’s hand if he promised to make them money.  Liminial has intentionally kept the SP

[biotech1973]

Either you are an idiot or living in illusional world. Self created debt or presentation are bookish terms. How will you prove that the market cap was deliberatly brought down when there was no salea and no assets. NET ASSET VALUE was ZERO. This is a biotech company not oil and gas that value is based on net assets. What a garbage of a person you are. Talk to me with some decent justification. It