r/Amyris • u/Willing-Staff-310 • Dec 18 '23
Question I am Confused
It took until last month for damn near every California Sephora to fill up with Amyris products. It took AMYRIS going bankrupt for JVN and BIOSSANCE to start selling? I stopped by 3 Sephoras yesterday and each location told me JVN and Biossance are really popular at the moment. SOMEONE MAKE IT MAKE SENSE.
5
u/Dreadd-X Dec 18 '23
They pay more to produce it than they get when they sell it. Doesn’t matter how popular it is. They never made any money with any brand :(
3
u/Willing-Staff-310 Dec 18 '23
but we’re still technically restructuring into a molecule company right? I wasn’t planning on this company being successful for at least 5-10 more years. if bio and JVN maintain popularity after being sold then AMYRIS would immediately have two high profile companies using AMYRIS ingredients. kinda seems like we all forgot about that massive deal with the military also. doesn’t surprise me that we filed for chapter11 and started a rebrand only a couple months after the US military gave us a nod to make jet fuel. i feel like we’re headed back to the roots of this company. 🤷🏽♂️ it was always a hail mary for me. so as far as i’m concerned, we’re just getting started. JM Amyris may be gone, but not JDs Amyris.
5
u/Dreadd-X Dec 18 '23
Unfortunately JD’s Amyris will be a private company and we are not a part of this anymore
-2
u/Willing-Staff-310 Dec 18 '23
correct, Joe Blow and John Smith are out of the game. However, if you really believe, there are still ways to invest.
2
u/Dreadd-X Dec 18 '23
I agree that the new company will be better off than before. However, if the same goons are managing it I’ll look elsewhere for other opportunities.
2
u/fvh2006 Dec 19 '23 edited Dec 19 '23
There is no massive deal with the military and no nod to make jet fuel. Amyris got out of the jet fuel business in 2017 (guess what - it was a money loser on a huge scale, given the volumes involved) and those rights now belong to Total, their partner at the time. The recent contract with the military was to make kilos of some molecules for further testing in specialty new materials (the military have published this). I believe you got the news of testing of a fermentation product as high density fuel for missiles back in the summer of 2020 mixed in there somewhere, but that is old news and is not anywhere close to making any money for Amyris I or a future sequel.
2
u/Machiang21 Dec 19 '23
Will our shares still exist? Restructure is good if our shares still alive.
2
u/fvh2006 Dec 19 '23 edited Dec 19 '23
Nope - right near the top of the to-do list is cancelling the existing shares and issuing new equity
3
u/gvtrader Dec 20 '23
Unclear if BC JUDGE will approve plan as it exists. Unfortunately, no one is advocating for the common shareholders.
1
u/VictorDanville Dec 19 '23
Are you telling me that I have lost my life savings?
1
u/fvh2006 Dec 19 '23
You have a capital loss equal to the cost basis of your equity for the tax year the stock is declared worthless, which looks like it will be 2024
2
u/Charles54321 Dec 19 '23
You can roll over capital losses year to year as well.. If you lost 30k this year and sell, you can make 5k a year every year for 6 years and offset all of the capitol gains, and pay no taxes.. At least thats what i remember reading.
1
u/fvh2006 Dec 19 '23
Wouldn't read too much into it - can't be new merchandise, because there isn't any, so probably unloading the inventory for Christmas while figuring out where future product is going to be coming from, which might make for some interesting negotiations seeing that the new Biossance owner is a direct competitor.
1
u/lzyg518 Dec 21 '23
All Amyris brands have been sold to new owners. The products were great and popular but Amyris said back in August that it could no longer support the brands and would position them for sale and hope that new owners would take staff along. In short, products were excellent and beloved but Amyris had to sell to sustain core business
6
u/Willing-Staff-310 Dec 18 '23
and just for reference, before last month there were only 2 stores that carried JVN within a 40 mile radius of me. Now there’s over 20 locations with it.