Biosig Technologies Inc (BSGM)

[236T568]

BSGM and Mayo - BSGM behaving like a scam company


1. On Friday, March 17, 2017, BSGM issues a glowing press release regarding a Strategic Partnership with Mayo Clinic. In the press release BSGM mentions some of the terms, including the 10 year length of the agreement:

https://www.sec.gov/Archives/edgar/data/1530766/000118518517000589/ex99-1.htm


2. On the same date as the press release, Friday, March 17, 2017, BSGM files an 8-K with the SEC including the press release:

https://www.sec.gov/Archives/edgar/data/1530766/000118518517000589/biosig8k031617_2.htm


3. Two trading days later, On Tuesday March 21, 2017, a massive paid stock promotion campaign is carried out with, among others, stock promoters StockCommander.com and SmallCapAlerter.com.


4. Due to the pump Mayo press release and the stock promotion, BSGM's stock price increased to as high as $1.74 on Tuesday, March 21, 2017, the day of the promotional campaign, from the closing price of $1.38, the day before the pump Mayo press release was issued, an increase of 26%. The trading volume for the day of 249,946 was about 6 times greater than the 22 day average trading volume for BSGM of only 40,770.


5. Then after the close of trading on Tuesday, March 21, 2017, BSGM files another 8-K with SEC regarding the Mayo agreement. Incredibly, BSGM finally states that it issued Mayo a whopping 630,000 warrants to purchase GSGM common stock as an incentive for Mayo to sign the agreement:


https://www.sec.gov/Archives/edgar/data/1530766/000118518517000613/biosigtech8k032117.htm

"In connection with the Agreement, the Company issued to Mayo a three-year cash warrant (the “Warrant”) to purchase 630,000 shares of the Company’s common stock at an exercise price of $1.50."