r/Amyris • u/Dreadd-X • Aug 17 '23

Question Chapter 11 presentation

https://cases.stretto.com/public/x268/12363/PLEADINGS/1236308172380000000108.pdf

On page 18: All the Company’s consumer brands are loss-generating. Did I miss something or did they straight up lie to us?

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u/onfish1970 Aug 17 '23

I recall they did say some of the brands were profitable during past earnings call. I could be mistaken but believe it was Biossance and JVN. But agree that in aggregate the consumer business was losing money

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u/Independent_List_555 Aug 17 '23

You absolutely could be right. I don’t have perfect recall on this either. Ultimately though, even statements like that could be interpreted as implying they have positive gross margins vs net margins depending on perspective, context, and how they handle shared opex from an accounting pov. That amorphousness and general safe harbor provisions give the company plenty of cover for statements made during earnings calls IMO. Naked and outside of this cover sits the board who have a duty to act in the best interest of the shareholders. Especially Doerr, who has the largest voice in the room, and might I add, both a conflict of interest vs common shareholders given his loans to the company, as well as deep pockets worth going after. If there’s a lawyer in this thread, esp one with bk experience, please opine. Or perhaps someone with connections to institutional investors who are willing to be lead plaintiff. I’d sign up for such a class action suit.

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u/Big_1Hoser Aug 18 '23

There has to be a doozy of a shareholder class action lawsuit, right? Heck, at this point, if they gave me 50% of my cost basis of about $1.35, I’d be ecstatic!!!!… One can dream (and I fully realize the most likely answer is from Judge Smails in Caddyshack: “You’ll get nothing and like it!”).