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BioRestorative Therapies Inc (BRTX) RSS Feed

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Created
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Welcome to the BRTX Dilution Machine !

The rocky road to NASDAQ....

BRTX uplisted to NASDAQ after a 4000:1 reverse split to pop the price from the $0.003's up to $13+ per share.  The O/S was reduced in the process to approximately 870k shares.  An underwritten stock offering sold 2.3M "units" consisting of 1 share of common stock and 1 warrant with a strike price of $10, each unit selling for $10.  This netted the company over $20M for corporate purposes and to begin the FDA phase 2 trial approved in 2017.

The day before NASDAQ, the PPS was $13.50.
The first day of NASDAQ, the PPS closed at $7.74
Currently the stock trades in the low $5 range.
The O/S with the offering and post-split numbers would have been 3.1-3.2M shares, but currently sits at 3.5M shares.

Auctus, their primary lender throughout the bankruptcy and uplisting process, was given over 1.6M "units" at offering price in exchange for $8.8M of debt and $7.3M their dirt cheap warrants from the bankrupty were "deemed" to be valued, subject to a lockup period of 4 months and a limitation on becoming a beneficial (5%) owner.  Auctus can begin to sell stock in early March.

This has been a toxic lender ATM through the bankruptcy and now the uplisting.
Just prior to the bankruptcy, the lenders converted debt into 1.6B (pre-split) shares at a high discount.
In the bankruptcy "plan" controlled by Auctus, those lenders were given stock (over 1B pre-split shares) in exchange for their outstanding debt at a PPS of a penny after it had been pumped up to 2-3 cents.  Those unsecured, toxic lenders profited off of loans that would have been wiped away in the originally planned liquidation.
Auctus took convertible notes for their loans prior, through, and after the bankruptcy, with warrants attached with strike prices of $0.0005 and $0.0010 ($2 and $4 respectively split adjusted).  The stock had become illiquid just prior to the uplisting, making it difficult to execute and profit from the warrants.  So they made a deal for the units in the offering.

The company now has cash for general operations and to advance the phase 2 trial of BRTX-100.  They'll require substantial more funding as that trial proceeds and to advance their other objectives.  This is an excerpt from the prospectus issued for the stock offering (Page 13 of https://www.otcmarkets.com/filing/html?id=15337301&guid=Caxwk6_tBebdB3h )

We will need to obtain a significant amount of financing to initiate and complete our clinical trials and implement our business plan.

Since our inception, we have not generated revenues from our operations and have funded our operations through the sale of our equity securities and debt securities. The implementation of our business plan, as discussed in this prospectus under the caption “Business,” will require the receipt of sufficient equity and/or debt financing to purchase necessary equipment, technology and materials, fund our clinical trials and other research and development efforts and otherwise fund our operations. We anticipate that we will require approximately $12,000,000 in financing to complete a Phase 2 clinical trial using BRTX-100. We anticipate that we will require approximately $45,000,000 in further additional funding to complete our clinical trials using BRTX-100 (assuming the receipt of no revenues). We will also require a substantial amount of additional funding to implement our other programs described in this prospectus under the caption “Business,” including our metabolic ThermoStem Program, and fund general operations. The net proceeds of this offering will not be sufficient to satisfy the foregoing needs. No assurance can be given that the anticipated amounts of required funding are correct or that we will be able to accomplish our goals within the timeframes projected. In addition, no assurance can be given that we will be able to obtain any required financing on commercially reasonable terms or otherwise. In the event we do not obtain the financing required for the above purposes, we may have to curtail our development, marketing and promotional activities, which would have a material adverse effect on our business, financial condition and results of operations, and ultimately we could be forced to discontinue our operations and liquidate.



 


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A OF JULY 2020, BRTX AND AUCTUS FUND LLC HAS PARTNERD ON A NEW BANKRUPTCY

REORGANIZATION PLAN IN WHICH SHAREHOLDERS WILL NOT LOSE 100 % OF THEIR SHARES. 

Biorestorative Therapies Website: 
  
http://www.biorestorative.com/
 Biorestorative Therapies & Auctus Fund LLC Joint
Reorganization Disclosure & Plan: 

http://www.biorestorative.com/wp-content/uploads/2020/07/PLAN-OF-REORGANIZATION.pdf
http://www.biorestorative.com/wp-content/uploads/2020/07/DISCLOSURE-STATEMENT-OF-REORGANIZATION.pdf

Biorestorative Therapies September 2019 Isreal & Australia Patents For Metabolic Stem Cell Program:

https://www.otcmarkets.com/stock/BRTXQ/news/BioRestorative-Therapies-Receives-Patent-in-Israel-For-Its-Metabolic-Program?id=249195
https://www.otcmarkets.com/stock/BRTXQ/news/BioRestorative-Therapies-Receives-A-Second-Patent-in-Australia-For-Its-Metabolic-Program?id=244017

 

BRTXQ PAGE 12 & 13 OF THEIR FDA PHASE 2 TRIAL PRESENTATION BELOW PRESENTATION
SHOWS THE LOW COST OF THEIR STEM CELL INJECTION
TREATMENT VERSES THE HIGH COST OF SURGICAL
TREATMENT. PAGE 13 ALSO SHOWS THAT 99 PEOPLE / SUBJECTS WILL BE ALLOWED BY THE FDA TO GET
INJECTIONS WITH THEIR BRTX-100 STEM CELL DRUG!!!


AS has been reduced to 75 mil from 300 bil per the 8-K filed on Nov 22, 2021

OS is currently 5,815,775

BRTX-100 Phase II Study is fully funded. Recruitment process has been intiated.

 
 
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