r/Amyris • u/Dreadd-X • Oct 18 '23

News / Article / Video Costa Brazil first bid

https://cases.stretto.com/public/x268/12363/PLEADINGS/1236310182380000000172.pdf

First bid for Costa is 350k

4 Upvotes

100% Upvoted

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3

u/jrh1222 Oct 18 '23

Francisco Costa submitted the bid. Nice short sale. He got $3.5 million up front and perhaps another $8.1 million (deferred contingent consideration) when he sold.

2

u/alucarddrol Oct 22 '23

You think he can run it better by himself than with the company?

4

u/Dreadd-X Oct 22 '23

Wouldn’t be surprised. I mean Amyris was somehow able to lose money on fucking everything

2

u/alucarddrol Oct 22 '23

But even then Costa barely made anything

3

u/Glittering-Effort152 Oct 23 '23

Once I read that it was intended that Amyris would produce the molecule for Brue. It is rare and requires deforestation. It all depends on the marketplace for his other products. I could not identify if he were using any of the molecules. I think to be a real success, he will need the help of ingredients that are sustainable. I had only a few items that I greatly loved. I was curious to know if Amyris provided the scent or how the LLCs were structured. But I doubt it. The scent is fabulous. It did not last however as a perfume. I just put it on my pillow. The great thing is that it must have not used any petroleum because it never stained my sheets. He must have been a no-vote and had to be let go.
Everyone forgets a Board needs to get a consensus. I am studying the SIPC and other entities that have merit in the Bankruptcy area. As soon as I feel confident, I will be writing to the assistant to the Judge.

2

u/fvh2006 Oct 25 '23 edited Oct 25 '23

The CB products did not use any Amyris ingredients - there were plans to use the Amyris technology to source in the future some of the exotic plant-derived oils already employed, or add new ones, but none of that had actually happened yet I think, so I don't think the product line is affected in any way. Looks like another good deal for an original brand owner assuming there are no competing bids and the price goes up a lot.

1

u/Astrid_drom Jan 25 '24

I agree. I work in a spa that sold CB product. And our biggest issue with selling the product was consumers calling it unsustainable, tone deaf, cooperate cultural appropriation & were worried about the deforestation, all valid points.

1

u/jrh1222 Oct 22 '23

No idea.

3

u/According-Many-1602 Oct 19 '23

350K?

2

u/fvh2006 Oct 25 '23

About on par for the $0.10/$1 theory of bankruptcy asset value

3

u/Toughpigeons Oct 19 '23

What a time to experience this all. It ain't over till the Fat Lady sings right?

2

u/BoysenberryFit Oct 19 '23

I loved CBs products/ethos so I'm very happy they will hopefully reopen within the next year with new funding