US Stem Cell Inc (USRM)

[Dragon Lady]

LAWSUIT ALLEGES...USRM "BARELY SURVIVING"

Yepper, that what Northstar Biotech LLC (ALL former BOD members and/or key insiders and guarantors of the company's largest and oldest debts, debts still owed today and that would INSTANTLY be in default, if not for said guarantors, aka the members of Northstar Biotech LLC, who are providing the "guarantees" such as assets/homes/cash, etc to said banks so they don't "CALL THE DEBT" owed by USRM)- and what does Northstar Biotech LLC and their attorney allege in the recently filed suit:

Type in "U.S. Stem Cell" on the Broward County 17th circuit "case search" and you'll find the lawsuit.

Case: CACE16016085
Filed 8/30/2016
Plaintiff: Northstar Biotech Group, LLC
Judge ID / Name: 18 Garcia-Wood, Marina

Plaintiff's attorney retained: Brent A Friedman

PAGE 2 of 129 of the formal complaint filed by Plaintiff Northstar in this case:



NOTICE WHAT IT STATES:

DEFENDANT (USRM) REMAINS YEARS AWAY FROM COMPLETING CLINICAL TRIALS....

Besides the reality that the company has p!ssed away an enormous amount of capital w/ NONE of the original clinical trials ever reaching anything close to an FDA APPROVED and SALABLE PRODUCT ...it further asserts in ITEM 9., that since TOMAS took over and original founder and once CEO and even once Chairman Howard Leonhardt left the company (which would be around the 2009/2010 time period when CEO Miguel Tomas took over full control as CEO in June of 2010)..

It also CLEAR AS DAY makes a glaring point to spell-out how yr-over-yr LOSSES HAVE INCREASED in the latest SEC filings, DESPITE the whole "revenue" thing and endless use of toxic convertible debt and even "factoring", aka borrowing against all future in-coming revenues. Poor Man- pointed this out prior, that the quarterly LOSS actually increased. Tomas had "blogged" that supposedly by having "revenues" they, U.S. Stem Cell and now their little "clinic" thingy were gonna 1) Supposedly become "profitable" and 2) Supposedly NO LONGER NEED TO RELY ON ENDLESS USE OF TOXIC, HIGHLY DILUTIVE cash-for-shares hedge lender borrowing (Magna, Fourth Man, Daniel James, Asher, KBM Worldwide, etc SEE SEC FILINGS) to live off of and fund the company for survival. HAS NOT HAPPENED OBVIOUSLY....

ITEM 9. states, "Following Mr. Leonhardts departure, Defendant has barely survived."

DEFENDANT of course is thee entire company once known as BIOHEART and now known as U.S. Stem Cell, INC.

BARELY SURVIVED (in present tense that can be read as BARELY SURVIVING STILL TODAY, the use of English language would be consistent with meaning "now", the "present" condition of the company)...not painting a good picture of this company's financial or "other" health IMO. Not looking too good here seems to me.

It also alleges and notes HIGH SEC COMPLIANCE COSTS (despite being a penny stock now trading at a split corrected .0000130 per share), it's lack of ever completing its key clinical trials, it's inability to obtain better quality financing due to "lack of investor confidence in management", it's on-going SEC filed "GOING CONCERN" status, etc.

READ IT, IT'S ALL THERE IN THE FORMAL COMPLAINT filed with the court.

The words of Northstar Biotech LLC and their attorney, NOT MINE. THEIR WORDS, as duly filed with the court in Broward County, 17th circuit.