BIOAQ
$BIOAQ News Drops Stock with A great chance for a Major Bounce $BIOAQ's stock dropped more than 90% today presenting people who had not gotten in the play yet a chance to play a major swing trade for the potential of 200% or more ROI.
Here's why: Many people are suspecting Rick the current CEO to have gone rogue and put out a false PR today given that the company has been in the process of finding bidders to buy it. The PR put out today only has contact info for Rick and all PRs before had contact info for $BIOAQ also the PR stated the company is still in the process of finding buyers to save it giving a two week timeframe from now. Which means in the next two weeks (If the PR is even real and from the company directors and not just something the CEO put out himself without the other directors permission) buyers should be flocking back in taking it up to at least .045 or even .05 with an anticipated high of maybe even .06 if the FOMO is good enough. That being said the news as bad as it was wasn't the worse possible news the company could have gotten, it basically says there is a chance of saving it still, so the drop today was a major overreaction as is expected down here in the OTC.
This morning's Press Release:
BioAmber Provides Update on Sales Process
Jul 30, 2018
MONTREAL, July 30, 2018 /CNW Telbec/ - BioAmber Inc. (OTCPK: BIOAQ) announces that the current stage of the Sales and Investor Solicitation Process (SISP) has concluded without an acceptable offer having been received from a Qualified Bidder as of the due date of July 27, 2018. The company will now seek to obtain court approval to pursue liquidation as well as alternative offers in order to realize the greatest value on behalf of its creditors.
Moving forward, subject to the approval of the court and with support from its monitor or receiver appointed by the court, the company intends to:
•solicit liquidators to bid on the acquisition and disposal of the company's assets, including the Sarnia plant;
•continue to actively engage with Qualified Bidders and other interested parties to determine if, and under what terms, a transaction that would result in the continuation of the company's operations is still possible.
We estimate this process will be conducted over an approximate two-week period with a target conclusion date of August 14. The company will engage with Maynbridge Capital, its interim lender, and all other secured lenders to determine the best going-forward strategy.
"We are clearly disappointed that the Qualified Bidders did not place an acceptable offer for Bioamber," stated Richard Eno, CEO. "We will continue to be actively engaged with potential investors to seek an acceptable transaction and avoid the liquidation of the company's assets. Most importantly, I'd like to thank our dedicated and highly capable employees for their outstanding service to the company."
Potential investors can contact Richard Eno in order to express interest in acquiring the assets or investing in the business.
Note that there can be no guarantee that the company will be successful in securing further financing or achieving its restructuring objectives. Failure by the company to achieve its financing and restructuring goals will likely result in the company and its subsidiaries being liquidated. Liquidation will almost certainly result in no residual value for non-secured creditors and equity investors.
$BIOAQ Don't let the shorting MMs fool youShorts (and some naked shorts) are being squeezed.
OS at 129.45M and public float of 116.91M
www.marketwatch.com
Check out the volume:
As of 1:20pm EST, $BIOAQ has traded over 14M shares
With all the news out does this feel like retail profit taking or MM manipulation?
If you're on L2, check out the orders-- 250k and 500k orders...these aren't retail.
Here's Jim Cramer explaining how he would do exactly that:
www.youtube.com
*especially watch the first 90 sec
The shorts are getting squeezed...there are less than 4 trading days left until the deadline of court ordered sales transaction.
Don't be fooled, lock in long.
$BIOAQ A little context for the inquisitive investor
Accidentally privately published...linked idea
Ok yeah, we all see a wedge forming. Great. Here are a few reasons why I'm accumulating a "q" stock.
Here are the books:
www.stockhouse.com
A little backstory:
Bioamber 23.23% used to trade on the NYSE under the ticker BIOA
On 5/4/18 they filed for Chapter 11 protections.
The ticker was given the q tag and delisted to the OTC
PPS 0.00% plummeted from an from an ATH -1.32% around $14 to around $0.004
On 6/18/18, the court ruled to allow DIP financing to keep Bioamber 23.23% afloat while they sell company to highest bidder.
www.prnewswire.com
This company manufactures bio-succinic acid using a proprietary process in addition to a lot more IP 0.49% and the recently built plant.
patents.justia.com
www.bio-amber.com
The cool thing is that the bankruptcy court set a timeline for the sale of the company.
investorshub.advfn.com
The third party monitor assigned to oversee the process (PWC) released 7/18/18 that they received 7 LOIs to purchase...two of the bidding companies were named and they're both billion dollar companies: Greenfield Global and PTT Global Chemicals.
www.pwc.com
Greenfield Global is Canada’s biggest ethanol producer with four plants and some packaging/bottling sites. Private company, but going for 30 years. Very eco-friendly and community minded, they do various projects with government support and are part of national effort to meet Paris Accord Climate Change Targets (unlike certain neighbors we could mention, cough). The feelgood local choice.
PTTGC is Thailand's largest petrochemical and refining company, an arm of state owned giant PTT, whose revenue last year was US$64.2 billion. Committed to finding eco 0.64% friendly solutions and another community minded corp, they always pays a minimum 25% of net profit as a dividend.
“PTT Global Chemical – Better chemistry for better living”
*Credit to NestEgg McMuffin on ihub for the DD -1.04% on the bidding companies.
The next steps in the timeline are:
7/27/18 Deadline for binding offers
7/30/18 Deadline for acceptance of offer
7/31/18 Execution of sale
So 7/31 is the big day; it could easily sell for a price that translates to a price per share of $1 to $2 to ....?
Also, it could fall apart or the common stock could get screwed and go to 0.
Very exciting.
3 hours ago
Comment: IMO The two biggest questions to ask yourself:
1. Will the commons be wiped out or excluded from the proceeds of a sale/liquidation?
If you believe so, close your position. If not, lock in your longs.
2. What will purchase/liquidation price translate to PPS?
It's hard not to get starry-eyed over valuations...your guess is as good as mine, but I think it's safe to say that $0.061 pps with a market cap of 6.9M is a tad undervalued.
Just my opinion on a couple things:
Judge Pinsonnault and PWC have shown they're acting in Bioamber's best interests (DIP financing, KERP, etc.).
I think it's possible that PWC consulted the judge in releasing two bidder's names in order to give other bidders that are low-balling,a bit of guidance for a competitive bid..."if you want to play with the big boys (aka PTT and Greenfield) then you've got to get your big boy check book out."
I guess we'll see come 7/31.
an hour ago
Comment: PWC and Court docs
www.pwc.com
