US Stem Cell Inc (USRM)

[Dragon Lady]

Judge rules..court taking partial control...

That's the way it looks like to me- reading her ruling, SEE BELOW:

The Judge for at least now, "deferred" on making a hard ruling on the plaintiff's (Northstar Biotech LLC's) MOTION TO APPOINT A COURT RECEIVERSHIP, but she clearly, IMO, sees that Northstar has presented several legitimate arguments as she ordered the following:

1) She's ordering USRM and Northstar first to "mediate" between their attorneys. Looks like she gave um the month of October to "mediate" in arbitration, which leaves um like 2 WEEKS, WOWZA. She's telling um- you better get something solved or I will rule on this case and motion, beyond this temporary "DEFERRED" stuff.

2) She took specific measures to allow the COURT to have control over certain decision making powers of Miguel and what Northstar called "his board of directors". Specifically:

a) They can't issue any stock options to themselves w/o the court's prior approval. Which again to me is FASCINATING, as it makes it clear to me that our guesses here were likely correct, that Miguel was attempting to use that huge INSTA-VEST recent option grant to take control of the company and sell it "out from under" Northstar or some similar "nefarious" end-game. Else, why would the Judge specifically write-in a need for the court to now block or control the issuing of stock options by Miguel and the BOD? WOWZA !

b) They can't sell the company or any similar action w/o the court's prior approval OR Northstar's full approval and agreement (I'd assume coming via written agreement in which Northstar's attorney MUST SEE ALL THE WRITTEN TERMS OF ANY "DEAL" and approve of same). Which is fascinating to me, as it clearly implies to me, that Northstar's attorney must of shown hard evidence that Miguel and the BOD (what's left of the BOD after he got rid of two long standing members) that they must have been trying to sell USRM just as Northstar has alleged, but was not allowing Northstar to even see the "terms" of the agreement, in writing or in any other form..Miguel just wanted them to sign-off on some sale or whatever and Northstar didn't even know the price, terms, who the buyer was etc according to their formal complaint filed w/ the court....VERY interesting. AND, that implies to me that whatever type of sale Miguel had in mind, must of been a sale that would hurt NORTHSTAR BIOTECH as the judge stepped in and said NO SALE UNLESS I SEE IT AND APPROVE IT or unless Northstar 100% agrees to it in writing after "seeing the terms" of said deal.

The Judge, Her hand writing is a little tough to read (LOL, she'd make a great medical doctor) - but that seems to be the jest of it. Not surprising- as the court's all like MEDICATION/ARBITRATION as the "starting point" as it's far, far cheaper for the court system and is designed to keep the parties out of the court room where they suck up valuable time on the judge's docket. I suppose an immediate "RECEIVERSHIP" would put it all in the "hands of her court" and she knows that means managing this "mess" all the way to whatever end-game outcome might result.

BUT, she only "DEFERRED", meaning temporarily delayed, she did not say NO TO THE RECEIVERSHIP, she just set a time limit for them to go off and "mediate" (wonder if they'll get a formal "arbitrator" assigned? It doesn't seem to say that, at least at this point) mediate and see what they can work out- if they can mutually agree on something.

Looking at today's further mass share price collapse AGAIN, I really wonder if this mess if even gonna survive much longer (as Poor Man- has indicated recently)?

I mean what the H is left to "mediate" over when Google Finance has the company market cap today at like $50K or some laughable number? I think Northstar Biotech just wants to insure they get FREE AND CLEAR as the secured debt holders and don't get stiffed holding the bag. That's my opinion. If Miguel and the board want to barf up and/or find someone willing to buy the Northstar debt(s) they're guaranteeing, I'd bet they'd walk away and never look back. But who's gonna put that kind of money into this sink pit??

I think Poor Man- is closest to the truth or answer, and that's the BK solution. That somehow, this thing needs to go to BK to clear all the old debt(s) and if possible, somehow get the Northstar Biotech as the "guarantors" free and clear and then it's SAYONARA to USRM as a public traded company IMO.

Either way, I'd guess the days of this POS trading "public" are nearing their end....that's my .003 (3/10ths of ONE CENT'S WORTH) for whatever it's worth, which ain't much, LOL !!

https://www.browardclerk.org/Web2/CaseSearch/

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
Defendant: U.S. Stem Cell, Inc
Judge ID / Name: 18 Garcia-Wood, Marina

Plaintiff's attorney retained: Brent A Friedman