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You underestimate the mind of a sociopath. HH feels shareholders, whom he obviously disdains, should not criticize him, but instead should be grateful for his tireless efforts to provide a chance for gains, without which the company would have failed years ago. Announcements that weren't fulfilled are not his fault -- it's always someone else at blame. The company's lack of disclosure is irrelevant to HH and the peon shareholders should be grateful for anything Dear Leader provides. Anyone who questions, is an enemy, and must be attacked.
Company keeps presenting the Props used to set up this Confidence Game, but provides no new information. It's as if a bot serves up old useless information. The company's inability to provide appropriate discussion/responses to legitimate questions is proof this is not real.
What happened to the IR firm?
Why is company back to STOP SIGN on OTC?
Who got the 62 mm freebie shares (and what is current share count)?
How does company get away with no shareholder meetings?
Why no financial info in nine months?
Presenting the props used in this Confidence Game does not change the fact that BGMO has failed to produce any money from every claim of investment/fundings, like the Italian Bank Eurobond deposit gambit, Brazil Bank fake guarantee, all those SBLCs schemes, the HSBC "Cash Backed Deposit", the HYIPs, etc.
One tip off is that many of the supposed counter parties associated with these fabulous fundings are invented entities with little to no presence other than their dealings with BGMO -- LondonWall, eSoft, U.S. Capital Funding, FortuneMint, Elpiconjob, National Wealth Management, Autillion, Foxbank, etc.
Another tip off is that they never explain why the prior schemes fall through. Not once has management accepted responsibility, explained to shareholders what happened, or in any way acted like a legitimate company would. Management just move onto the next Grift and ignores its prior inconvenient claims.
Further tip off is the non-existent purchasing of shares, expect occasional wash trades and minimal (as in a few $100s) buying. Where are company friends scoping up shares? Don't bother claiming this would be "insider trading" as if anyone associated with BGMO gives a hoot about such rules.
Finally there is the obvious implausibility that any wealthy person or institution would pick a sociopathic liar and incompetence loser to manage money, or run such investments through an unaudited pink sheet USA C-Corp with dirty history.
Yes, this will continue until the clock runs out. SEC can't be bothered with small time penny ante scams in Caveat Emptor market place.
The Hong Kong Bank papers are as phony as a $3 dollar bill. You really think anyone believes that billionaires leave that sort of money in a deposit account waiting for screwballs like HH to pick investments for them, for 50% of the profits. Yeah.
Hillard is the last person in the world who would be picked to management money. He has no history of being a fiduciary, no investment record, long history of litigation and failed deals, tethering on personal bankruptcy, no organization around him, not licensed as money manager anywhere, not one single successful investment in his lifetime, pals around with Vancouver shysters and people like Vivek Sinha and Robert Fowler. Would not pass any test as money manager, and certainly not someone who could be trusted with any money.
You keep presenting the props used in the Confidence Tricks, yet fail to admit no money has been produced from this or any of the earlier ones, like the Italian Bank Eurobond deposit gambit, Brazil Bank guarantee head fake, all those SBLCs schemes, that Hillard has been foisting in this long running conspiracy of false and misleading information.
You got shares -- great. Buy more.
No Surprise - Late Filing Notice:
BGMO is long running fraud -- making PRs about fantastical fundings and investments -- but not one has ever come true.
One of the scamsters is Robert Fowler who pretends to run a laughably fake $4 trillion investment trust named U.S. Capital Funding Trust. Look him up on Facebook under His Royal Highness (HRH) Robert Fowler for a laugh.
This idiot Fowler pedaled phony U.S. Capital Trust AAA Rated Standby Letters of Credit, which Herzog claimed in numerous PRs "as good as cash" and once a bank honored them, would provide funding for investment in solar projects and coal mines. Sounds similar to today's fakery, where HH claims mystery HK depositor is providing Cash-Backed Security for BGMO to invest like Warren Buffett.
Singh/VSTA must be in on the scam, because nobody could be such an idiot to actually believe HH. Don't these company both use same IR firm?
You've said this before -- and nothing has happened. Herzog keeps proving over and over that BGMO is an insolvent revenue-less scam. The truth is plain as day -- nothing is accomplished -- all major claims of investment and funding have proven to be false. The company is dark, won't report financial results, won't disclose who got 62 mm practically free shares, etc.
Yes, it is quite obvious what BGMO is.
Bergamo defaults again on Share Purchase Agreement.
Fourth time in two months failed to close on promised funds. VSTA 10K due today.
Tries to pretend tiny $25,000 investment is good news, when obligation was to deliver $1 million.
Only in BGMO world does failure get celebrated.
BGMO continues to be empty shell with no revenue/assets pretending to be billion dollar investment fund.
HBSC counterfiet claims of deposit just a phony as $88 million insta-profit from secret subsidiary. You can't make this up -- but apparently HH and the Vancouver gang have.
And, Why did they go dark again.
What happened to the public broker/dealer investment.
Who got the 62 million practically free shares last August and when will they be free to trade.
When will the company ever hold a shareholder meeting, as required by law.
Why hasn't the company reported any financial results in nine months?
The Vancouver gang will try to make pathetic $25k investment into the second coming of Christ. It's another default -- HH had promised $1 mm for the first closing.
How do you pay $1 mm per quarter of real cash expenses with $25,000 closing and empty promises to buy more stock made from insolvent asset-less company run by habitual sociopathic liar?
All HH has to do to get respect, is to just be honest CEO, and actually deliver anything that he has promised.
Commitments Hillard Herzog has Fulfilled:
NONE
Commitments Hillard Herzog has defaulted and/or told false and misleading stories about and didn't deliver:
1. Investment in GreenSafe Demanufacturing
2. Investment in Suntrough
3. 43 mm rupee check from Pilot Industries
4. June 2010 Funding into BGMO bank account
5. $1 billion from LondonWall
6. Many times renegotiated deals with eSoft Informatics
7. Many times monetizing SBLC from U.S. Capital Funding
8. Italian Bank MTN deposited to BGMO account in Singapore
9. Investment deal with Brazilian bank guarantee
10. Fortune Mint funding for Indonesian Coal Mine
11. All those CSP plants in India
12. The solar light post manufacturing announcement
13. The Pakistani Solar Pump business
14. $1 million to VistaGen
Oh, forget it -- the list is just too long. Every single material deal HH has announced has failed to occur. Every single claim of large investment into BGMO or money being made available for BGMO to invest, has proven to be untrue and worthless.
Funny, the company reported $179.5 million of cash, so there ought to be plenty of cash to satisfy the "hold period" on $88 million. Except BGMO's European unit is a fraud -- large, smelly fraud, with no real money. That is why HH defaulted four times now on Share Purchase Agreement and could only produce measly $25,000, if that's even true.
Yes, BGMO is big fat fraud and never going to be closing on VSTA. VSTA will be filing 10-K in days so we'll learn how it's dealing with its cash burn. You see, VSTA actually reports information to its shareholders -- while HH is completely dark. What happened to those accountants/lawyers that BGMO used last year -- don't see any of them around now.
It doesn't matter. $25k is a drop-in-the-bucket for what VSTA needs to relaunch/maintain its operations.
$25k is an insult when the Share Purchase Contract was for $1 million.
Why Singh thinks HH will make good, when he has no good explanation on the last four defaults (lost our ATM card, Patriot Act, all that paperwork to move fake money around). Herzog is such an accomplished liar/salesman who never admits the truth. Singh is making a fool of himself.
Looking forward to what's disclosed in 10K.
Singh is up sh*t's creek without a paddle. His company was spending $1 million per quarter up to Dec 2012, and has survived on fumes since then. $25,000 does nothing -- barely covers the legal costs for the Share Purchase Agreement -- three times defaulted on. Since he has no better hope, he keeps praying for miracle and extending the closing schedule (as if a few months will make the straw in BGMO's accounts turn into gold) -- much like Rahi hoped HH would make good on the many promises to pay, too. Once it became clear HH had nothing and was an inveterate liar, Rahi showed his anger. Nobody likes being made to look like a sucker.
The BGMO farce continues, but now just for the amusement of a few of us. The market has long since written off Herzog and his Vancouver tricksters.
What happened to that billions in Hong Kong or the fantastically profitable super secret European subsidiary. It is a Federal securities crime to report the company has $179.5 million of cash to your investors, when HH knows that money is fictitious artiface of his so-called European partner. HH has maintained this conspiracy through today - why not -- he isn't in jail yet, and it pays the bills.
It is quite literally, the least Herzog could do. Promise and promise $36 million and show up eight weeks and three defaulted SPAs later with just 0.7% of the money - essentially chump change. Vivek Sinha got a lot more out of HH, but Rahi Tajzadeh got zero, while the Vancouver gang scrambles to prolong this lame chapter of the long running saga that is BGMO.
How is VistaGen surviving on such tiny cash flow when its cash burn was over $1 mm per quarter as recently as Dec 2012?
Any guesses on why the SPA was changed to Singapore and then back to Switzerland?
50,000 shares of very illiquid floundering revenue-less R&D experiment - not quite how Buffett invests.
I'll be looking to see if/when company files 10-K due June 30th. Company has maintained compliance with SEC filings, but accountants charge money for audits (not that there is much to audit in the past year). Singh Form 4 filing is puzzling -- why would anyone exercise out of the money options 10 years before expiration. If shares were issued for unpaid comp, it wouldn't come out of prior option grant.
Hurel reported an investment by Humane Society:
It's not clear why Singh family trust would exercise 50,000 options at $0.64 ten years before their expiration date when company is offering shares to Bozo the Clown at $0.50. The cash amount is not much - $32,000 (a drop in the bucket for company burn rate) and Singh is probably owed a lot of deferred comp. Usually new cash goes in ahead of old - as senior loan.
Even if the Vancouver gang scraped together the a measly $1 million to head fake about a closing, there would be little reason Singh would exercise options. It's even less plausible some of that supposed $1 billion at HK Bank or $179.5 million at the secret European sub appeared in real life. And if that were happening, why would Singh exercise such a small amount of his 1,500,000 options at the current market. <One position is that active employees pay tax on imbedded gain at time of option exercise, therefore exercising now produces no gain --- on the other hand -- there was no need to exercise for next 10 years>
I think Singh's just a chuckle head.
Maybe, HH exchanged those 62 mm BGMO shares for the alleged 2 mm shares of public broker dealer. HH probably bollixed that deal, just like everything else he touches, so 62 mm shares may not be hitting market.
Tick, tick, tick.....I predict June 30th company files extension on 10-K.
Stalwart shareholders not heading for exit, showing loyalty not seen often in stock market.
If the company has found money to cover operating expenses -- I am thinking it won't be cheap.
Amazing, BGMO can't even find $1 measly million to have any closing on SPA -- proving once again, Hillard Herzog's word is worth less than spit.
Clever tape painting - slamming through a 100 share purchase right after sale at bid. Trifecta - head-fake the market, cover tracks and monetize worthless shares.
BGMO / HH continues to act as guilty as accused.
What CEO refuses to provide info to shareholders.
No info in three quarters of a year.
No shareholder meeting.
No disclosure on receiver of 62 mm practically free shares, soon to be tradable.
No explanation on why no investments have been made from supposed billions.
No trace of money allegedly earned in super secret European subsidiary.
No news on 10% investment in public broker dealer.
Ne retraction on alarmingly false financial statement claiming $179.5 million of Cash.
No plan to rectify failure of management to maintain current status. No apology for inept stumbling.
Essentially, management is stiff arming shareholders like they are an enemy. Company run for pleasure of sociopathic CEO and Vancouver gang without regard to rights of shareholders.
I have no expectation any of this will change, but to break the shear boredom, I am hoping HH comes up with another scheme like U.S. Capital Funding, which was entertaining.
You guess wrong. SEC moves slowly for stinky pinky non-reporting companies, but BGMO's file keeps growing.
BGMO raised its exposure by signing and defaulting on Reg D SPA agreement with a reporting company, while also claiming to own investment in a public broker/dealer with option to take control.
This on top of a massive fib about having $179.5 million in cash.
It's only a matter of time.... tick tick tick....thud. The shares will be worthless.
Your hero and savior, Hillard Herzog has defaulted three times in a row on Share Purchase Agreement with VSTA. Can't even fund $1 million of cash.
Hillard is a sociopathic liar who promises fantasy deals and mega fundings, but has nothing. It's too funny.
No he didn't.
Where's Seeberger now? I called to his attention (with cc to SEC) the gaping holes in his opinion letter to OTC Markets regarding adequacy of the company's disclosure for purposes of being deemed one step above STOP TRADING. Seeberger quicky review didn't uncover that BGMO hasn't held legally required Shareholder Meeting in years. And company's Articles of Incorporation were not consistent with reported number of authorized shares. And company failed to disclose the 25% holder who got shares for practically free last August. Surprise, surprise -- the company got booted from OTC "current" status.
It is amazing how BGMO and the Vancouver gang ceaselessly foist false information to the public, regardless of the facts.
I see some shares liquidated yesterday -- and tape paints.
The shares are worthless -- and one day the market shenanigans will end. Take any cash you can.
Their presentation consisted of 1 meter x 1 meter Poster Boards at periphery of ISSCR conference to provide fodder for people wandering about. This is open submissions where PhDs and some companies pitch their research -- not where companies market their products. A less comprehensible version of a High School Science Fair, except teens are better at explaining their work than PhDs. Real players have corporate exhibition booths inside the hall or present on speeches/panels. ISSCR should be where VSTA flourishes -- but after years of promise, I guess the company is not taken seriously any more. The world of stem cell research appears to be active but VSTA is pitching the same old story.
What is VSTA going to do about its financial jam?
Time to update iBox:
- three time default on Vistagen Share Purchase Agreement
- No financial information in nine months
- Dark - STOP SIGN on OTC Markets
- Service firms abandoned Herzog - IR, lawyer, accountant all gone
- No PRs in five months
- 62 million freebie shares unrestricted in August
Yes, Virgina, Bergamo is a scam.
Platinum funded $2.25 mm last year. If they don't step up again, nobody else will and the company will crater. Since they are senior secured this will likely be a deed-in-lieu with something thrown to unsecured creditors (Morrison Forster who did patent work and UHN which did paid stem cell work, but didn't get paid). Unlikely to be Chapter 11, as there is no actual business or cashflow to restructure. Just hand the keys to Platinum, who is familiar with lend-to-own business.
As I see shares being bought, while I have view the shares are worthless, I wonder if Platinum is playing mark-to-market games -- since they have warrants at $0.50 strike price.
A few weeks we learn if company files 10-K. I think it's doubtful. Courageous investors are holding out for a miracle -- no cut & run types. Brave of them.
And Hillard is a "savior" .... rotflmao
How do you know everything HH and BGMO do is "perfectly legal"?
HH has repeatedly made false and misleading statements to the general public regarding BGMO finances.
The Vancouver gang has conspired to spread these false stories in campaign to promote the shares.
HH has filed false papers with OTC Markets.
HH has failed to hold legally required shareholders meetings.
HH has co-mingled and mismanaged company governance, books and records, and oversight.
HH has been involved in so many "securities scams" from laundry list -- usually on the receiving end of HYIPs, SWIFT fraud, fake SBLCs, fake cash-backed deposits, fake bank guaranty from non-existent bank, fake Eurobond deposit scheme .... it is not coincidence that HH is involved in all these schemes -- he and the Vancouver gang actively seek out bogus schemes to announce in campaigns to sell shares, but which they can claim "we didn't know it was a scam".
This is a criminal conspiracy, which tries to dance on the line of defensibility, but the record speaks clearly of the criminal plan.
Hardly the most convincing IR piece I've seen. The company "could do this" or "the technology could do that" -- but nothing about what company is actually doing now.
No question BGMO trading is dead this week showing no buying interest in this liability laden shell running a stinking smelly going-nowhere scam. Why would someone expect anything else to be happening? I am sorry for anyone that bought recently. Long time holders have no real choice but to keep holding, despite dimming hopes for anything but inevitable wipe out.
I don't count HH (and the Vancouver crowd) out yet. They will surely attempt once again to deceive investors with unfathomable and unprovable stories. It costs them so little to maintain this, and as far as I know, HH hasn't died or been arrested yet, not that the company is sharing any information. What a crappy disgraceful way for a supposedly public company to operate. That's what you get when you let delusional liar pretend to run a company on stories.
I am staying tuned, because this is still entertaining.
It is not me who is wrong, or trying to sell false story.
Company is totally dark (again). Prior reported information is delusional fantasy from management that goes to great efforts to produce false and highly misleading stories.
Years we've heard advice from hinterland of west Canada to buy, something's about to happen, everything's fine, but this has produced predictable losses to those gullible enough to keep falling for a sucker pitch.
I admire the one or two adroit traders who play on the cycles and actually make (at least once made profit) they provide real insight into penny stocks, aren't hyping false info 24/7 and deprive the evil Vancouver group of cash. One day the bid/ask spread and lack of any other buyers will drive them away.
I reckon BGMO can go on for a few more years, as long as HH is alive, not in jail, and still driven to make big fat lies. But the long trend downward will continue, with occasional 100 share tape paints to give pretend appearance of higher value. Eventually the shares will be worthless. The settlement liability to CAMOFI hasn't disappeared, there are many other liabilities, real and contingent, and absolutely no real revenue/earnings/assets to speak of. I just laugh at how this plays out.
-No Shareholder Annual Meeting (required by Federal and State Law)
-No disclosure on 62 mm holder
-No financial disclosure
-Lawyer/Accountant wisely stopped aiding/abetting penny stock charade
-Every single claim of funding/investment discredited over time as hogwash
-Stopped paying for IR, stopped updating website, Facebook, twitter, OTC Markets.
-Hat Trick Default on VistaGen (Herzog found another numb-nuts to fall for "two weeks" story). Singh is as gullible as Swire, Rahi, Purdon, Viking, etc. you'd think he had to be Canadian.
Bankruptcy entails legal costs -- why get trustee/court involved just to wipe out common. The liabilities are mainly Platinum debt and payables to employees and vendors. Bankruptcy doesn't help because company lacks a sustainable business, not because debt/liabilities have to be restructured.
Platinum most likely will prolong status quo with cash injections as more loans. Platinum knows whether there are forthcoming licensing prospects or other business initiatives -- therefore will act accordingly. If they fail to maintain SEC reporting, that is not a good sign.
Platinum holds the keys, but the car is broken. Other shareholders hope Platinum maintains the current facade that VSTA has attractive options. June 30th is next mark-to-market date for Platinum funds.
This BGMO share purchase agreement is a distraction -- and Singh looks as foolish as Swire for believing the malarkey. BGMO taint may drive away others, as it did with GS.
My suggestion for VSTA - merger with Hurel or similar company. Good luck to VSTA holders.
Except that CPA didn't verify there were funds available to invest.
CPA recited what was written on paper handed to him by HH. He never confirmed the bank account was real, had money or that the other "signed papers" purporting to give investment powers to NWI (and by extension delegated to BGMO) were bona fide.
The passage of time has convincingly shown HH has no cash to make investments -- as he has defaulted on three closing dates. Couldn't even fund $1 million. Are you surprised?
The 8-K doesn't not say BGMO will make investment, just says CEO has hope they'll close, despite failures to date.
This is great time to be selling -- looks like story has run out of gas.
Yes, but that doesn't mean real hard cash will appear from thin air anywhere. How many of us have fallen sway to HH's spiel first-hand? They guy is a remarkably accomplished and convincing liar. This "promise" is just as meaningless as the promises to close in April and May. HH and Vancouver group didn't even find $1 mm.
For one to believe BGMO will produce $36 million, one has to believe that:
A billionaire investor picked HH from among every hedge fund and investment manager in the world to manage a long-only equity fund for 50% carried interest -- and such investor has those funds sitting dormant in zero interest bank account waiting for the 1st investment. On the criteria that institutions use to select investment managers, HH scores a zero on scale of 1 to 10 on every single skill --- historical performance, existing AUM, custodial arrangements, legal structure, tax efficiency, oversight and governance of funds, experience with proposed strategy, career accomplishments, investor reporting packages, electronic access, personal money at risk, litigation, professional ethics. The plain fact is that HH has never made an investment as fiduciary and would never be entrusted with funds, except as part of a scam.
Or, A secret investment company picked BGMO's newly formed European subsidiary to earn risk free instant profits of over $200 mm in one month ($88 million after commissions, costs and taxes) with no capital using highly secret methods, but coincidentally, there is no problem that BGMO has no access to any of that money and it's too secret to even state the name of subsidiary or location or people involved.
The next filing from VSTA will be 8-k to announce 10-k won't be filed on time. Hard to get audit when company has no money to pay accountant.
I am surprised the share price has held, given the vacuum of information on how company is paying its current operating expenses. Loyal shareholders are not willing to cut and run.
If I were Platinum, I'd be hard at work to merge VSTA into another biotech company which has better business/funding capabilities. It's no fun being only deep pocket behind cash sinkhole with no clear time line on producing cash. Especially since the VSTA story has gotten old.
Yes, VSTA raised $50 mm of grants/investment over 15 years -- but where are the commercial products and steady licensing income that should be happening by now? Time has unfortunately shown VSTA doesn't have cutting edge products that are in high demand or offer potential for breakthrough discoveries. All there is is a few ancillary JVs that use stem lines but not assaying IP, and one Phase Ib stage drug of uncertain commercial attraction.
Dribbling in more money behind this management team is folly -- the choice is to sell the IP or merge into another biotech or just close down.
Desperate times drive some CEOs to do desperate things. John DeLorean dealt coke to raise money for his car company. Singh is caught in a bad place, but his biggest issue is making payroll. How has the company addressed its cash deficit during 2013? There is only so long a company can survive on fumes and promises. I suspect VSTA has reverted to bare bones IP platform with little if any actual operations.
These past eight week, Singh has had plenty of time to properly size up BGMO --- yet somehow he has confidence there will be closing in June. This means he is in denial of reality and should not be running a company. You have to admit, Herzog must be one helluva good liar to keep rolling Singh and Platinum after three air balls.
Definitely the level to be selling
A wise investor traded worthless BGMO shares for real cash. Bravo to him. Willing buyers at 2 cents will not last long. The passage of time has shown beyond all reasonable doubt that BGMO is nothing but delusional old man and tireless finger-pointing Vancouver promo group who are likely sitting on 62 mm of soon to be free-trading shares.
In the garment business HH would promise people whatever they asked for -- then rush around to figure out how to deliver. The key was getting the order.
Such business practice might have had its place in ladies ready to wear garments, but hardly works in power plant development or large investments. HH is too old to learn new tricks. He just promises people whatever they ask for and tirelessly makes up stories why he needs more time to deliver. He did it with Swire, Rahi, Ansari and now Singh. To him, it's not lying - its "doing business".
Even at his best in garment business, HH was (obviously) mediocre, which is why he shifted from company to company and never achieved success. Once he reversed into tiny public shell just over ten years ago, he had added incentive to tell stories (and never take responsibility for failures). This went along for a while, but company floundered under his guidance. In 2007 he folded with large debt to the factoring company, Platinum Funding, which he had personally guaranteed. Rather than go through personal bankruptcy, he started inventing new and larger stories. The brief bonanza in Sept 2009 brought in the Vancouver group who've been driving the scam ever since. HH is stuck now -- unable to achieve anything, but unable to stop because he has unhappy Vancouver group on one side and settlements with Camofi and Platinum still hanging over him. All he can do is play out the clock. He moved his LV house to daughter and gotten rid of all other assets (several real estate investments were pledged to Camofi).
The uplisting and associated announcements were supposed to re-energize BGMO shares to provide liquidity to insiders. That has fallen on its face. I don't know what to make of VistaGen.
It seems HH lost the key to his secret Swiss bank account and, coincidentally, can't get NWI to make good on producing any of that $1 billion supposedly sitting in HSBC bank account for last five months during strong bull market waiting for him to find Buffett style investments.
Events are confirming once again that BGMO is a scam company telling empty stories. All company can do is robo-post long stale false and misleading info.
Look a huge bid/ask. No one wants shares. No one trades shares. Going to be a long hot summer.
Cheers.