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Flat-lining now, 2nd half of day? Last trade was 12:32 Eastern. It's now about 3:52 PM Eastern.
Not a single trade, not a single buy printing in over 3 hours? And that's at a sub .009 cent price? Wow.
Oops, just hit click to post and it looks like the MM's are taking it down, end of day, moments into the close. Just saw the big drop on the chart- unless they squeeze one or two last trades in above that one just posting - they may close it RED then looks like?
Just no buyers rushing in here still, even well in the SUB ONE CENT territory?
3 plus hours w/o posting a single trade after over 1.5 million in vol in the AM?
Pretty strange IMO. But nothing on this one surprises me anymore. Who knows? Lets see if the MM's "paint the tape" in the last moments into the close.
.0082 / 0.0089 (575000 x 10000)
http://www.otcmarkets.com/stock/BHRT/quote
That's BMAK with that 10K share block parked on the Ask at .0089 Looks like BMAK is setting their daily "cap" at .0089 ? Guess that's why no buys on the Ask? Would BMAK even fill an order at that .0089 from the 10K share block they have showing?
Quote LOL, "When I only read your postings so OCAT must be in the 2$ range. "
Well, back out the recent 100:1 desperation reverse stock split- and it's actually in the SIX CENT RANGE and would be diluted out past 3 BILLION common shares.
Just the facts. Only desperation companies with collapsed stock prices and massive dilution ever use a reverse stock split.
Successful, growing, share price increasing companies- they do FORWARD STOCK SPLITS, never reverse splits.
Reality and fact: The common shares of what's now called "OCAT" (ACTC) have lost over 98% of their value since they began trading public- hardly a glowing "success" story in terms of a stock or company.
ACTC used a reverse shell merger to go straight to the OTC as a public traded company. They began trading at $5 (DOLLARS) a share. Until just recently when they did the reverse split- their shares had hit the present 6 CENT range with recent lows, as low as 5 CENTS.
$5 = 500 cents.
500 cents - 6.5 cents = 493.5 cents. 493.5 / 500 = .987 X 100 = 98.7% LOSS to the common shares since OCAT/ACTC began publicly trading.
Just the facts and hard reality. That 98.7% LOSS to common shares reality is true as of right now, today at this moment given today's share price.
Quote, "If you are referring to the negative mentions in that article, clearly they do not apply to the current management and other progress that has been made and documented."
Wrong IMO. Actually the facts of the NATURE journal article very much still apply to OCAT (name changed from ACTC to "try" and distance themselves from their very, very tainted, SEC violating, straight to OTC past, etc).
If one backs-out the recent share R/S, what you have today is still a 6.x CENT stock that would be diluted out past 3 BILLION shares O/S w/ $350 MILLION in sunk capital losses, a 98% plus loss to their common shares since trading public and a company that to this day- is still living off of and surviving off low grade Lincoln "credit card" financing in "draw down" dilution increments, unable to ever attract any high grade major capital investment of any kind.
http://www.nature.com/news/stem-cell-research-never-say-die-1.9759
Quote from the highly respected journal "NATURE" and it involves and cites Lanza according to the NATURE author and editors- so I'd say it's 100% relevant to who OCAT still is to this day IMO:
"Since the late 1990s, ACT has gained a reputation as a renegade company, accused of overhyping results to raise attention and money. Critics say that the company has damaged the field more than once with its high-profile, controversial announcements, such as one describing the company's attempts to clone a human embryo1 in 2001"
Quote again from NATURE:
"Not everyone is convinced. Even if positive results emerge from these trials, ACT will still face major challenges in getting an ES-cell-based therapy approved for wider use. And some in the field are sceptical about ACT's reformation. “Can you really trust a company that has a spotty record?” says Arthur Caplan, a bioethicist at the University of Pennsylvania in Philadelphia."
Quote again from NATURE:
"
Out of desperation, West agreed at the end of 2004 to take the company public to gain access to a new source of funding. But the legal, accounting and marketing costs of going public through an initial public offering (IPO) were far beyond the company's reach. Instead, in early 2005, ACT merged with Two Moons Kachinas, an obscure, Utah-based outfit that sold Native American dolls. Two Moons was essentially a 'shell' company, allowing ACT to take it over and become a publicly traded firm. This 'reverse merger' was much cheaper than an IPO, but the US$8 million it raised had more strings attached."
Just some tid-bits from Nature on the highly, IMO, tainted past of ACTC who now re-named themselves recently to OCAT. This NATURE article was written before the ACTC SEC violations and prosecutions and fines that occurred later- further tainting their reputation IMO.
Quote, "Looks like a top today or tomorrow. "
I agree. This is nothing new- it's made several trips into this range clear back to Nov 2014 and gave it all back every time. The volume is nothing, so it's just Lincoln hunting out some buyers IMO and then the typical rumor mill about nothing (The Euro myth stuff) that's got a few buyers coming in here. Other than that- nothing new IMO.
They announce another extension to the Lincoln line for survival cash- and Lincoln lets their foot off the thing for a tad IMO to drum up some new buyers to get the price up a bit in here before they start to unload their next share block per "draw downs" on their dilution credit line. Look at the chart going back to Nov 2014- it's the same pattern.
Also, the 200 DMA and the 50 DMA is inverted- meaning in major technical weakness. This thing would have to trade WAY way up to the $7 plus range and stay there a long time on high volume and get that 50 DMA back above the 200 DMA to even show a trend reversal. It's not even in an up-trend yet and hasn't even shown a slight technical reversal. None.
Long ways to go before this is in a technical reversal or major up-trend. Not even close at this point. It's Lincoln letting it breathe a tad- their usual pattern IMO. They're about to get buckets more of dilution shares- and will then unload um as they've done continually IMO.
And that Lincoln dilution money- it's nowhere near enough to fund any major Phase II trial in any serious way- OCAT hasn't even started those Phase II trials as of yet- for lack of funding (the botched secondary offering, lack of demand for their shares). So how and when they're gonna start this major "big trial" is a complete unknown at this point IMO. And w/o that- they got a big ole goose egg going so far in 2015 to me. No major trial rocking and rolling- they're just treading water and paying the fat cats the way I see it.
LOL quote, "This is one of the best penny plays in the science field. It has been great watching this little company grow and beat the odds. "
What? "Grow"? And beat what odds?
The company has LESS employees end of 2014 10-K filing than they did the prior year, meaning they shrunk? 4 full time and 1 part time in the prior filings and then only 3 total full time "employees" left as of the just filed 10-K? What imaginary "growth"? Where?
Also, the market cap, despite mass dilution of the common shares is just barely cracking $5 million, maybe $5.5 million as of today, right now. Meaning even with 100's of MILLIONS of dilution shares added in to the calculation- the market cap has gone nowhere. They've not "grown" at all as a company by what definition? What "growth"?? The value of the company is less today than before?
The common shares are trading at .008 CENTS, yes, 8/10ths of ONE CENT this AM, near their all, all, all time low and a micro-fraction off their 52 week low made recently of .007 cents. What "Growth"? Where?
"beat the odds"? LOL? What have they "beat"? They're barely alive as a business per their own auditor's "GOING CONCERN" warnings plastered all throughout their just filed, most very recent SEC 10-K filing. They finished yr 2014 with a grand total of $36K CASH, total left in their bank account against massive immediate debts due- $millions in just immediate debts, w/ $36K cash left to pay um. They're broke and teetering on BK if not for massive, continual, on-going common share dilution and borrowing using toxic, convertible debt lenders. They did more toxic debt borrowing deals as recent as just Jan, Feb and mid March of 2015 already- for pittances of survival cash. "Beat odds", LOL? When, where?
Most recent filed 10-K, PAGE F-34:
"Subsequent financing
On January 7, 2015, the Company entered into a Securities Purchase Agreement with KBM Worldwide, Inc. (“KBM”), for the sale of an 8% convertible note in the principal amount of $38,000 (the “Note”).
The Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on October 9, 2015. The Note is convertible into common stock, at KBM’s option, at a 45% discount to the average of the three lowest closing bid prices of the common stock during the 10 trading day period prior to conversion. In the event the Company prepays the Note in full, the Company is required to pay off all principal, interest and any other amounts owing multiplied by (i) 140% if prepaid during the period commencing on the closing date through 179 days thereafter. After the expiration of 180 days following the date of the Note, the Company has no right of prepayment.
On January 28, 2015, the Company entered into a Securities Purchase Agreement with Fourth Man, LLC., for the sale of an 9.5% convertible note in the principal amount of $25,000 (the “Note”).
The Note bears interest at the rate of 9.5% per annum. All interest and principal must be repaid on January 27, 2016. The Note is convertible into common stock, at Asher’s option, at a 47% discount to the lowest daily closing trading price of the common stock during the 10 trading day period prior to conversion. In the event the Company prepays the Note in full, the Company is required to pay off all principal at 150%, interest and any other amounts.
On February 19, 2015, the Company entered into a Securities Purchase Agreement with Vis Vires Group, Inc. (“VIS”), for the sale of an 8% convertible note in the principal amount of $38,000 (the “Note”).
The Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on November 23, 2015. The Note is convertible into common stock, at VIS’s option, at a 45% discount to the average of the three lowest closing bid prices of the common stock during the 10 trading day period prior to conversion. In the event the Company prepays the Note in full, the Company is required to pay off all principal, interest and any other amounts owing multiplied by (i) 140% if prepaid during the period commencing on the closing date through 179 days thereafter. After the expiration of 180 days following the date of the Note, the Company has no right of prepayment.
F-35
"
LOL quote, "Lol, quote, "lol" Sunrise, FL......"
Blah, blah "PR" sound bites, with one-liner selective bullet points on a Power Point format versus the 80 plus pages of 10-K REALITY, and MM (market makers, continually selling 10's and 10's of millions of shares for all the various finance houses and individuals and who knows who else got the several HUNDRED MILLIONS of common dilution shares issued to them in just the past 1 yr alone) mass dilution reality IMO.
0.008 / 0.0085 (150000 x 202182)
Day's opening Bid/Ask
Stacked to the Ask/Sell side again this AM and a Ask of only .0085, but ZERO opening volume for an ole "LOL". First trade finally after 18 minutes and it's 500K shares RED at .008, a sell. Where's all the buyer's rushing in for those sub ONE CENT "value" priced shares "LOL"??
What's the 10-K say that those nice little PR snippets somehow always manage to miss and leave out, those "pesky" little REALITY DETAILS?
Well, here's a few pieces of info, verbatim, from the just recently filed 10-K that cast a bit of a different "story", the true story IMO, compared to selectively crafted PR one liners. Try these few pages of 10-K reality-ville:
Most recent filed 10-K:
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000378/bioheart_10k.htm
PAGE 56:
"At December 31, 2014, we had cash and cash equivalents totaling $36,674; our working capital deficit as of such date was $10,957,443. Our independent registered public accounting firm has issued its report dated March 16th, 2015 in connection with the audit of our financial statements as of December 31, 2014 that included an explanatory paragraph describing the existence of conditions that raise substantial doubt about our ability to continue as a going concern."
Finishing your fiscal year, you know, the big "revenue" one I guess, with a pittance of $36K total dollars in your bank account- as a public traded company, that must be good for an ole "LOL" IMO? $36K cash left? Really, LOL?
Or the "we hacked our R&D spending to almost ZERO" page, so no DUH we cut our cash use. Shazam, imagine that? Cut all your R&D spending and maybe cash use went down? Ya don't say?
PAGE 55:
"Research and Development
Research and development expenses were $66,420 in 2014, a decrease of $560,563 from research and development expenses of $626,983 in 2013. The decrease was primarily attributable to a decrease in the amount of available funds.
The timing and amount of our planned research and development expenditures is dependent on our ability to obtain additional financing."
But while the R&D is being cut by more than $550K to near nothing, how bout the we gave big raises and big "cash bonuses" to just TWO people of a 3 person "company" pages:
PAGE F-30:
"Employment agreements
On July 28, 2014, the Company’s Board of Directors approved the 2014/2015 salary for Mike Tomas, Chief Executive Officer, at $525,000 per year, beginning July 1, 2014 with an incentive bonus ranging from $150,000 to $500,000. In addition, the Board of Directors will grant Mr. Tomas options to be determined on or before June 30, 2015. The Company’s Board of Directors approved a bonus of $500,000 and options to acquire 10,000,000 shares of the Company’s common stock for ten years with four year vesting and a cashless exercise provision at an exercise price equal to the five day average closing price of the Company’s common stock as of August 1, 2014. The cash bonus may be paid in the form a six month promissory note.
On July 28, 2014, the Company’s Board of Directors approved the 2014/2015 salary for Kristin Comella, Chief Scientific Officer, at $250,000 per year, beginning July 1, 2014 with an incentive bonus ranging from $100,000 to $300,000. In addition, the Board of Directors will grant Ms. Comella options to be determined on or before June 30, 2015. The Company’s Board of Directors approved a bonus of $300,000 and options to acquire 5,000,000 shares of the Company’s common stock for ten years with four year vesting and a cashless exercise provision at an exercise price equal to the five day average closing price of the Company’s common stock as of August 1, 2014. The cash bonus may be paid in the form a six month promissory note."
PAGE F-11:
"The Company has three full-time employees and no part-time employees."
Wow, "big" operation, eh? THREE people total at a public traded company? And they still finish the year with a grand total of a pittance of $36K TOTAL CASH left in the bank? What, "LOL" I guess? Where's all the people they supposedly hired over the past few years in all the great sounding "we're expanding the TEAM" PR's? I have those PR's and know what they said (hiring supposed "regulatory" and "finance" and "administrative" blah, blah, blah)- where did all the people they supposedly hired go? Why only THREE left now? What happened? They had more employees last year- before the "big sales" thingy year (4 full time and 1 part time, wow) Why no "PR" about that I wonder?
http://www.bioheartinc.com/assets/press/2TeamExpansion2013.pdf
Or the "dilution and toxic, convertible debt financing pages" of the ole 10-K, they sorta left those out of the ole PR "story"- mass dilution and reliance on desperation financing houses:
PAGE F-34:
"NOTE 15 — SUBSEQUENT EVENTS
Subsequent stock issuances
In January 2015, the Company issued 4,783,568 shares of its common stock in settlement for services, provided 14,299,567 shares of its common stock in settlement of $49,500 of outstanding convertible notes payable, and $2,981 accrued interest and 2,096,450 shares of its common stock for net proceeds of $16,118 from equity drawdown under the Magna Purchase Agreement.
In February 2015, the Company sold an aggregate of 1,443,656 shares of its common stock for net proceeds of $16,270. In connection with the stock sale, the Company issued an aggregate of 1,443,656 warrants to purchase the Company’s common stock for five years at $0.01127 per share. In addition, the Company issued 20,219,367 shares of its common stock in settlement of $132,500 of outstanding convertible notes payable and $2,520 accrued interest and 16,556,976 shares of its common stock for net proceeds of $135,645 from equity drawdown under the Magna Purchase Agreement.
In March 2015, the Company issued 6,185,432 shares of its common stock in settlement of $25,000 of outstanding convertible notes payable and $1,226 accrued interest. In addition, the Company issued 635,357 shares of its common stock as true up shares relating to the February 2015 equity drawdown under the Magna Purchase Agreement.
Options granted
On February 2, 2015, the Company granted an aggregate of 7,000,000 options to purchase the Company’s common stock to Board of Directors members at an exercise price of $0.01116 for ten years, vesting immediately.
Subsequent financing
On January 7, 2015, the Company entered into a Securities Purchase Agreement with KBM Worldwide, Inc. (“KBM”), for the sale of an 8% convertible note in the principal amount of $38,000 (the “Note”).
The Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on October 9, 2015. The Note is convertible into common stock, at KBM’s option, at a 45% discount to the average of the three lowest closing bid prices of the common stock during the 10 trading day period prior to conversion. In the event the Company prepays the Note in full, the Company is required to pay off all principal, interest and any other amounts owing multiplied by (i) 140% if prepaid during the period commencing on the closing date through 179 days thereafter. After the expiration of 180 days following the date of the Note, the Company has no right of prepayment.
On January 28, 2015, the Company entered into a Securities Purchase Agreement with Fourth Man, LLC., for the sale of an 9.5% convertible note in the principal amount of $25,000 (the “Note”).
The Note bears interest at the rate of 9.5% per annum. All interest and principal must be repaid on January 27, 2016. The Note is convertible into common stock, at Asher’s option, at a 47% discount to the lowest daily closing trading price of the common stock during the 10 trading day period prior to conversion. In the event the Company prepays the Note in full, the Company is required to pay off all principal at 150%, interest and any other amounts.
On February 19, 2015, the Company entered into a Securities Purchase Agreement with Vis Vires Group, Inc. (“VIS”), for the sale of an 8% convertible note in the principal amount of $38,000 (the “Note”).
The Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on November 23, 2015. The Note is convertible into common stock, at VIS’s option, at a 45% discount to the average of the three lowest closing bid prices of the common stock during the 10 trading day period prior to conversion. In the event the Company prepays the Note in full, the Company is required to pay off all principal, interest and any other amounts owing multiplied by (i) 140% if prepaid during the period commencing on the closing date through 179 days thereafter. After the expiration of 180 days following the date of the Note, the Company has no right of prepayment.
Or PAGE F-2, their licensed audit firm's final words on how "swell" they think it's all going at the company:
"The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has suffered recurring losses from operations and used significant amounts of cash in its operations. In addition, at December 31, 2014 the Company’s current liabilities exceed its current assets by $10,957,443. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
/s/Fiondella, Milone & LaSaracina LLP
Glastonbury, Connecticut
March 16, 2015"
Me personally, I'll stick with the 10-K reality version IMO. PR's, just don't cut it for me personally. One liners leave out too much important info IMO, while 10-K's don't.
My .008 cent opening price worth.
LOL, quote, "Imo this is going to be the year BioHearts value is recognized by the market."
Well, "this year" is already 1/4 over and they're sinking like a rock- hugging .008, yes, 8/10ths of ONE CENT again today.
It's Q2 already and BHRT is pretty darn close to their all, all, all time lows and a 52 week low and a 10 month plus, unbroken solid down trend.
They've already diluted out 65 MILLION plus shares in just Jan, Feb and early March of 2015 per PAGE F-34 of their just filed 10-K and there's no end in sight to mass dilution that I can see?
So when exactly is this "value" going to be "recognized" in 2015, seeing how it's now into Q2 and the stock has gone nowhere but steadily down?
Not seeing it IMO. I see a massive summer of dilution about to hit via reading the 10-K and the past few 10-Q's and looking at the due dates as to when all the massive number of convertible, toxic debt deals are coming due and IMO will thus be 100% converted to free trading shares (Asher, Daniel James, Fourth Man, KBM Worldwide, etc)- 10's of millions of more dilution shares.
Given the present price- and a share price discount upon conversion of typically 45% to 47% on the BHRT toxic, convertible debt deals- plus accumulated interest- the debt holders are gonna get their shares for around .005 or so if the price remains anything close to what it is right about now- and that's gonna mean just that many 10's of millions of more dilution shares.
Also, those are old deals and that cash was already spent- as the 10-K showed BHRT near BK, finishing the end of 2014 with a lousy $34K total cash to their name- against just accounts payable of more than $2 million and total current debts/obligations of around $11 million or so.
Which means IMO they will be tapping Magna many, many more times continuously for survival cash, big salaries and bonus paying cash, and just "pay the bills" and legal fees cash. Look at what the first draw from Magna already cost um- last part of the just filed 10-K. About 20 MILLION dilution shares already to Magna for a lousy $135K or so. The lower the price goes- the worse it will get with each subsequent Magna "draw down" on that credit line IMO. It's called "death spiral" financing by the SEC and Bloomberg and others for a reason.
I see mass dilution continuing and major down pressure on the stock therefor as a result of just 10's and 10's of millions of free trading shares just piling on to the Ask/sell side of the market, essentially non stop continually.
My .0085 cents worth.
http://www.bloomberg.com/news/articles/2015-03-12/josh-sason-made-millions-from-penny-stock-financing
That article explains in great detail who BHRT is doing biz with lately to finance their operations- fascinating IMO.
LOL, "OCAT !!! "
Nov 24th, 2014??
A bit of old "news", no? It's April 2015.
What's a link to a Nov 24th, 2014 PR got to do with anything?
LOL BS quote, "What,Huh? LOL 350 million dollars? for_Curing_Blindness"
Well_all_except for the pesky little FACTOID_part that_NO_ONE has "cured" so called_BLINDNESS??? When did_that_fantasy happen supposedly??
Where's a list of all major hospitals and clinics and major medical insurance carriers and the billing code for the mythological OCAT imaginary CURE for_blindness "treatment" that DOES_NOT_EXIST?
Where is a LIST_OF_EVEN_ONE OCAT FDA approved product/treatment or therapy in major use on human patients_today? Where?
LOL, the ole "they CURED_blindness" myth again. Sure.
It's $349 MILLION real dollars- it doesn't matter what the market cap is? Not how it works for paid-in, lost capital. NO_ROI to date, not a penny's worth. NONE. Market cap_or_not.
Bid collapsing again. Wow. Ask dropping too, just no buyers (or nowhere near enough buyers to even make a dent in all.
0.0084 / 0.009 (14000 x 55000)
Only 14K at .0084 ($117 bucks worth) and next level is .008
Both CDEL and BMAK are parked on the Ask again at .0093 or so, looks like that's the max "cap" for the day then. The ole dilution MM's doing what they do. And there's a whole dump truck full of toxic debt deals all coming due now beginning around May I think it is (will check 10-K/10-Q's, but there's a bunch of toxic, convertible debt dilution financing all coming due one after another beginning around May 2015 and on through the entire summer till at least October. BHRT has no money to pay them IMO, so they'll all get converted to dilution shares- which at these prices and given their steep conversion discounts, means IMO mountains of shares, as in 10's and 10's of million worth in the .005 price range given a 45% discount to a price today of say .009, WOW)
Market cap is collapsed back to just over $5 million now, even with the massive amount of new dilution shares updated and in the calculation now.
Market cap now showing as a measly $5.57 million even with the share count now upped to 647 MILLION shares O/S. (the dilution of course is actually even well past that now, as they're dilution continuously at a furious pace, non stop. I'd guess easily past 700 MILLION shares O/S now given the amount of toxic, convertible debt deals being done/converted, plus continued "paying the common bills" in shares of common stock as was shown on the just filed 10-K). They diluted around 65 MILLION more shares in just Jan, Feb and till mid March of 2015 per their own 10-K filing, PAGE F-34.
PAGE F-34, most recent, just filed 10-K:
"Subsequent stock issuances
In January 2015, the Company issued 4,783,568 shares of its common stock in settlement for services, provided 14,299,567 shares of its common stock in settlement of $49,500 of outstanding convertible notes payable, and $2,981 accrued interest and 2,096,450 shares of its common stock for net proceeds of $16,118 from equity drawdown under the Magna Purchase Agreement.
In February 2015, the Company sold an aggregate of 1,443,656 shares of its common stock for net proceeds of $16,270. In connection with the stock sale, the Company issued an aggregate of 1,443,656 warrants to purchase the Company’s common stock for five years at $0.01127 per share. In addition, the Company issued 20,219,367 shares of its common stock in settlement of $132,500 of outstanding convertible notes payable and $2,520 accrued interest and 16,556,976 shares of its common stock for net proceeds of $135,645 from equity drawdown under the Magna Purchase Agreement.
In March 2015, the Company issued 6,185,432 shares of its common stock in settlement of $25,000 of outstanding convertible notes payable and $1,226 accrued interest. In addition, the Company issued 635,357 shares of its common stock as true up shares relating to the February 2015 equity drawdown under the Magna Purchase Agreement."
Just in less than the first THREE MONTHS of 2015 then- that's about a cool: 4.7 + 14 + 2 + 1.4 + 20 + 16.5 + 6 + .6 = approx. 65.2 MILLION SHARES OF PURE, GRADE-A, RAW DILUTION SHARES. Yep.
It's all dilution at this point IMO. Dilution has total control over the share price now to me, the way I see it and watch the dilution MM's "working it". Just too many 10's and 10's of millions of cheap shares just piling on to the Ask continually- w/o anywhere near the buyers to soak up all that cheap float that just keeps coming.
My .0084 cents worth.
Red and treading water.
Looks like the market is just all over their big financing "news" filed on Good Friday when the MARKET WAS CLOSED and about as late on a Friday as one can get and probably still get it to upload to the SEC EDGAR database, LOL.
Yeah, just on a tear now knowing the Lincoln "credit card" just got a smaller extension added to it than the initial balance from 2014 when it was renewed from the old, prior Lincoln credit line that they used up, 100%.
What happened to that big ole secondary that was (but did not happen), was going to raise a cool $62 million, stated to be just part-I of a total capital raise of $100 million per the filed shelf and share registration statement?
Instead, they got at best, less than $20 mil more spendable per this extension which must come in periodic "draws" on a Lincoln credit-card/credit line style deal? And THAT is going to fund a large, FDA quality phase II and all their day to day burn-rate and overhead, even as they continue to stack their already, IMO, massively top heavy, bloated Sr Mgt structure? (about 36 employees total, but now 5 or 6 "C" level VP or higher type positions I believe it is) That's about 6 people max reporting to each Veep level type person?
A Veep level spot typically runs an entire division or business unit, often with 100's, if not a 1000 people or more in it IMO, and w/ many direct report managers/directors to each Veep. They've got a real bad case of top bloat to me. They spend like they have positive cash flows and sales and profits IMO. I can a wash list of highly profitable, extremely successful and profitable companies that are more "tight" with watching their cash and staying lean and mean compared to this bunch. It must be easy to live off of endless dilution- as opposed to answering for a top-line and bottom-line and profits and all that messy stuff like metrics and gross margins and ROI and what not. Heck, when you've burned up $349 MILLION to date- what's another $50 or $100 mil or whatever? SPEND like there's no tomorrow IMO, it's only dilution, what difference does it make anyway?
LOL, quote: "Bullish OCAT: Great Stock Pick of 2015"
Oh yeah, fa sure. April now, meaning Q2, Q1 is over and it's sitting, treading water, going pretty much nowhere hugging the ole pre R/S 6 cent "GARY ZONE" range for months and months (despite the "big article" and "uplist" and blah, blah, blah)
AND they announce their latest Lincoln "credit card financing" deal extension on the Good Friday holiday, LATE on a Friday when the MARKETS ARE CLOSED, LOL.
Oh yeah, super-duper "bullish"?? Right on.
BS LOL, "Interesting OCAT post: "
ANOTHER attempt to create some myth about "GE" and OCAT?? Sure.
This one is so convoluted and so far out in fantasy land as to be comedic. As usual, IMO, consider the micro "blog" site (whatever one calls that low traffic, micro site) source of the made up info, LOL.
So now some unknown sources "eddie" and "stem" something are looking at building/facility lease issues and then some totally unrelated company's job postings- and via some vast imagination, 100% made up "extrapolation" fantasy- they're "trying" in desperation to create some linkage that this means OCAT is connected somehow now to GE or whatever??
What? Huh?
All cause some various companies operate in a well known MA "tech corridor" where it's very, very, very common to lease commercial space for similar type industries- and by the way, where Starbucks and Walmart and 100 other business more than likely also have a presence and "leases" and "job postings" too?
Wow. Talk about fabrication and just MAKE IT UP as one goes along?
Again, Walmart sells eye glasses and eye stuff now in nearl every location they have (4000 plus I think). They, Walmart, IMO are FAR MORE LIKELY to be the imaginary OCAT "partner" myth or whatever than GE. Far, far more likely a guess and made up tall tale IMO. Much more sense to me that it's Walmart. I'll check their facility "leases" and job postings- and that should prove it beyond a doubt IMO.
LOL quote, "OCAT/ACT "UCLA Website" "
OK. "promising results"? What does that even mean? "promising" as in a big, giant "maybe"?
Did they say anything about how many YEARS of further clinical trials are needed to a "possible/maybe" commercialization of these "promising" ole "results" and how many $100's of MILLIONS of dollars (low side estimate) will be needed to get these "promising results" even close to a shot at an FDA or similar approval?
1000's of lab, micro, small "phase I" and similar "studies" a year look "promising". So what? What percent ever make it to becoming a salable drug product, ever? Less than a fraction of 1% is what the industry and think-tank numbers say, and it costs $100's of MILLIONS, often a $BILLION or more to get one, ONE of those "promising results" to market as a salable, FDA approved drug.
http://www.manhattan-institute.org/html/fda_05.htm
Chance of a "promising result" ever becoming an FDA approved drug product- slim to none by the statistical odds. Which part of the new Lincoln credit card line "extension" just filed, the maybe $18 mil to $20 mil tops, is going to pay for the large, expensive clinical trials needed to get just ONE OCAT product "candidate" through a phase II and then a much larger and much more expensive phase III to even a chance at review, let alone approval? You know, the part of the Lincoln money left over after the large salaries get paid first, and then general "other" overhead spending/expenses and all the rest of the $2 million or so a month "burn rate" gets paid, not the clinical trial spending part?
Which amount of that Lincoln money I wonder goes to the clinical trial, the phase II that hasn't even started yet?
Quote from the link to "UCLA" whatever-
" Dr. Robert Lanza, Chief Scientific Officer at ACT, noted, “Despite the degenerative nature of these diseases, the vision of 10 of 18 patients showed measurable improvement at the six month follow up, after transplantation of the RPE cells.”"
What? Huh? 10 of 18 showed "measurable improvement"?? What? We've been told numerous times that this thing is a SLAM DUNK, 100% CURE, A CURE for "blindness"?? Only 10 of 18 showed a "measurable" improvement? What? That's not a CURE? And it didn't even CURE ALL OF THEM like's been posted I can't even remember how many times? I've read it numerous times stated that ACTC/OCAT has 100% CURED BLINDNESS? Doesn't sound like that to me? Not even close? Not even remotely close?
Why does Lanza make such a drastically different statement than those "claiming" the mythology that OCAT has "CURED BLINDNESS" and it's a slam dunk, 100% sure thing, going to be completed and finished "soon", blah, blah, blah? Boy, Lanza sure seems to be singing a different tune IMO compared to those other vast "claims" made here and on that little "blog" nothing site where this all originates from? What a contrast?
Amazing contrast IMO. 1000 miles apart the difference between OCAT's Lanza wording and the vast, grand statements on the little "blog site" that makes up the myths and tall tales oft repeated here verbatim? Why such a contrast I wonder?
BINGO, they have approx $12.5 MILLION cash left.
SHAZAM. I "guesstimated" over the past several days and stated about $12 mil was left on that Lincoln line- w/ my guess based on burn rate, hiring fat cats at the top and all. Hit it within less than $500K accuracy looks like.
http://www.sec.gov/Archives/edgar/data/1140098/000101968715001320/ocata_s3a1.htm
PAGE 3 of amended filing to try and sell/tap Lincoln for more credit card coin:
"The Purchase Agreement provides that we may sell up to $30,000,000 of our common stock to Lincoln Park, of which we have already received $17,501,251. as of April 1, 2015. 3,000,000 shares of our common stock are being offered under this prospectus. If all of the 3,000,000 shares offered by Lincoln Park under this prospectus were issued and outstanding as of April 1, 2015, such shares would represent approximately 7.8% of the total number of shares of our common stock outstanding and 7.9% of the total number of outstanding shares held by non-affiliates, in each case as of April 1, 2015. If we elect to issue and sell more than the 3,000,000 shares offered under this prospectus to Lincoln Park, which we have the right, but not the obligation, to do, we must first register for resale under the Securities Act any such additional shares, which could cause additional substantial dilution to our stockholders. The number of shares ultimately offered for resale by Lincoln Park is dependent upon the number of shares we sell to Lincoln Park under the Purchase Agreement.
So there it is- they're nearly out of cash and that's w/o even starting the big, FDA Phase II trial yet- or funding it in any major way. This is just their "burn rate" of paying the salaries and keeping the lights on essentially IMO. They have not started or funded their major phase II yet- not even close.
From that SEC filing PAGE 3 above, as of April 1, 2015:
$30,000,000 - $17,501,251 = $12,498,749 left on the Lincoln credit card.
They're CASH LOW, dangerously low IMO and thus are going to try and amend and add to that Lincoln line (try and get maybe $18 to $20 mil more they can tap, which ain't big trial funding coin IMO)- as it looks like low grade Lincoln dilution money is all they got at this point IMO. And remember- that's not a block/chunk of cash that all comes in at once - that's what a credit card like "draw down" or "credit line" is. OCAT has to make periodic requests that have "per draw" limits and so forth on them- and then Lincoln produces a certain amount of cash for each "draw request"- giving Lincoln greater share ownership and dilution, to either dump or hold and dump later at the time of their choosing.
Else, why would they be tapping them down and not completing any major capital raise- the kind of coin to fund a Phase II trial? They failed the $62 mil secondary, the stock is treading water at barely above 6 cents split adjusted and now they're gonna hit dilution Lincoln up for another credit card extension. And that's after all the "big news" supposedly and the ole "uplist" and all the rest.
Looking like some tough sledding in here IMO. Tough.
PAGE 12 of the amended prospectus- DILUTION, DILUTION and what it can/will likely do to the common stock:
"Effect of Performance of the Purchase Agreement on Our Stockholders
All 3,000,000 shares of our common stock registered in this offering which may be sold by us to Lincoln Park under the Purchase Agreement are expected to be freely tradable. It is anticipated that shares registered in this offering will be sold over a period of up to 30 months commencing on the date that the registration statement including this prospectus becomes effective. The sale by Lincoln Park of a significant amount of shares registered in this offering at any given time could cause the market price of our common stock to decline and to be highly volatile. Lincoln Park may ultimately purchase all, some or none of the shares of common stock registered in this offering that Lincoln Park has not previously purchased. Lincoln Park may sell all, some or none of the shares it has purchased or will purchase under the Purchase Agreement. Therefore, sales to Lincoln Park by us under the Purchase Agreement may result in substantial dilution to the interests of other holders of our common stock. In addition, if we sell a substantial number of shares to Lincoln Park under the Purchase Agreement, or if investors expect that we will do so, the actual sales of shares or the mere existence of our arrangement with Lincoln Park may make it more difficult for us to sell equity or equity-related securities in the future at a time and at a price that we might otherwise wish to effect such sales. "
Nearly cash broke- TAPPING LINCOLN credit line (dilution line) for more. Looks like they couldn't put together any major financing deal or raise any serious cash- so they're gonna amend the June 2014 Lincoln "credit line" to add on about $20 mil more maybe max.
http://www.sec.gov/Archives/edgar/data/1140098/000101968715001320/ocata_s3a1.htm
That Lincoln money doesn't come cheap either.
Filed an S-3/A (A for amend) to increase their ability to keep making "draws" on the Lincoln line as they are certainly precariously low on cash- probably around $12 mil left on that Lincoln line now, unless they get this amended share registration passed and in place.
Not looking good- once again, just more tab/n-draw credit card, pay the month to month bills money that does not pay anywhere near what a large, FDA quality phase II trial will cost. Which IMO means they've still struck out on being able to successfully raise any serious coin.
They're just gonna keep the fat salaries going, biz as usual going- and tap and draw on ole Lincoln for now it looks like. Lincoln is low grade, old style OTC financing IMO. Bottom of the barrel pay-day loan stuff and pure dilution.
Looks like nothing's changed then entering Q2, they're treading water basically and going back to the til to keep the gig going. The ole "credit card" request to "raise our limit" plan.
Nicely done- putting out the ole SEC filing on a Friday when the markets are closed, LOL. Guess they figure maybe it's gonna slip under the ole radar. Classic !!
PAGE 2 of the amended share offering prospectus says it all IMO:
" We have no therapeutic products currently available for sale and do not expect to have any therapeutic products commercially available for sale for a period of years, if at all. These factors indicate that our ability to continue research and development activities is dependent upon the ability of management to obtain additional financing as required.
"
Quote wrong again LOL, "Quote Or, one can just look at the 98% PLUS LOSS HUH? that's old ACTC news....again and again and again....who is sitting on a 98% loss.... who on this message board... IMO zero on this board...old old news.... like saying stock XYZ 100% gain! Well not everyone ....some only have 1% gain......it all depends on entry point.... 98% loss pertains to .0000001% of stockholders.....lol "
NO. Not how the markets and stocks work. It makes no difference and matters not who on some "message board" has a "gain" or "loss" in the stock at this point- it's 100% irrelevant. Being able to say that Apple or Google or Chevron or IBM or whatever have appreciated to 1000% or 10,000% or whatever is what makes them VALUABLE and not 6 cent r/s 98% LOSERS. It's not like saying stock XYZ has a 100% gain, as that is exactly what makes stock valuable long term- is long term, stable, steady gains and appreciation in share price, not the opposite of long term, steady, every declining losses in share price- ACTC/OCAT's entire existence as a public traded firm.
What DOES MATTER when analysts and "big money" investors and those who might say buy into (or NOT) buy into a $62 million shelf offering- is the HISTORIC PERFORMANCE AS OF TODAY OF THE COMPANY. Which AS OF THIS MOMENT, TODAY- is that the stock/company is a 98% plus LOSER SINCE INCEPTION and has never, ever, ever produced a ROI to shareholders, never produced positive cash flows, never produced any sales in 20 yrs, never produced an appreciating stock price,etc. Instead- it's produced a 98% plus REAL LOSSS, diluted out to a REAL 3 BILLION plus shares while sinking to a REAL 5 CENTS A SHARE recently, not some "distant past" as is falsely claimed, etc.
That is how the market evaluates a stock. HISTORIC PERFORMANCE. Why are some of the most valuable companies in the world the most valuable? Because they have long, long, long histories of EVER APPRECIATING SHARE PRICES (aka forward splits) and ever increasing profits and thus many have 20 plus yrs of paying ever increasing dividends (a share of profits being paid BACK TO SHAREHOLDERS) they have long histories of insiders buying back their own shares and the company buying back its own shares as they're so valuable, etc.
Not some pie in the sky child like mythology land, bad fantasy "forward" imagination-ville made up tall tales of how everything is supposedly "about to go big" and the losses are supposedly "about to end" blah, blah, blah when nothing indicates that to even remotely be close to coming true, nothing. DILUTION is what's highly likely coming to this stock, aka more of the same old, same old. $349 million up in smoke, sunk capital- the chance they ever make that back IMO is between ultra slim and nil.
They haven't even funded dime one yet of the "big FDA phase II" and they're rapidly running out of cash. They botched a secondary and couldn't sell a lousy $62 mil worth of stock- as the 98% plus LOSER HISTORY, the SEC FINES and legal settlements being paid on the shareholder dime and all the rest are an albatross around their long OTC history necks IMO.
LOL.
All the best, KIRK.
LOL quote, " Maybe do a little DD on the Good Doc might help.....IMO OCAT has the best.... look at the BOD..... "
Or, one can just look at the 98% PLUS LOSS to the common shares since inception and the $349 MILLION in sunk, lost capital?? LOL.
Yeah, "look at that BOD" the best. SEC violations and fines and legal settlements being paid off on the shareholder's dime? Too funny. Yeah, that's real "top shelf" stuff there all right? The "best" fa sure.
How bout the TWO MOONS KACHINA reverse merger straight to OTC-ville? Again, a sure sign one is dealing with the real "top brass" of the ole stock market world fa sure. You betcha?
What's the ole "good doc" ever actually produced that's selling and in use and producing a ROI to investors to this day? Anything? The ole insiders are real good at self enriching and selling and dumping their own shares, but producing returns and results? Not too sure about that? 3 BILLION plus shares and a fairly recent common share price of a literal 5 CENTS and not one insider, you know "the best", barfed up so much as $20 bucks to buy-back so much as one share of their own "golden" stock and all. Oh yeah, sure signs one is dealing with the imagination land "best" and all, you bet IMO.
Funny how all that money swimming around out there during the biggest bull market in probably world history- can never somehow seem to find it's way to this imaginary "best" and all? Why is that? Why?
Here's what the highly respected journal NATURE had to say about the long and sorted history of the mythological "best".
http://www.nature.com/news/stem-cell-research-never-say-die-1.9759
Yeah, that's a real poster child story IMO of how those ole imaginary "best" get it done? Like what, 20 yrs now of failed promises and inability to deliver? Yeah, "the best" fa sure??
LOL quote, "British Medical Journal wants less costly treatment for eyes, wet AMD. "
Well, tell um to wait about FIVE YEARS or so until at least yr 2020 and OCAT "might", maybe, perhaps, could, possibly have something to offer um, maybe.
Oh, and in the mean time- send ole OCAT at least (very low, low side minimum) a cool $100 mil bundle of cash to get the ball rolling to "maybe" finding out if ole OCAT can help um out maybe someday.
LOL quote, "Does OCAT Robert Lanza have a whole company sellout bio price? if so, what is it?
"
What? Since when, in a public traded company, does ONE PERSON "own it" or control it, or make all the decisions about it or whatever? There's a CEO who Lanza reports too and a BOD who that CEO reports too. Lanza doesn't set the price of this company being sold or not?
What's this imaginary "magic" supposedly about Lanza anyway? ANY public traded firm that's supposedly 100% dependent on some single person who supposedly possesses near mythological powers- then that company is in deep, deep trouble IMO.
How's a company that's supposedly going to do $100's of millions or $billions in sales one day dependent on ONE PERSON? That company is doomed then to fail. If that one person who holds the supposed mythological powers quits, passes away, get seriously ill, etc- then one is saying this entire enterprise is SUNK, DONE, KAPUT, OVER WITH?
Then I'd never want to be invested in that company then IMO. A one man show is a dangerous enterprise from an investment stand point. Even Apple for example laid careful plans for a "post Steve Jobs" era- as they know that no successful business can ever, ever revolve around one person. Warren Buffet is doing the same. Microsoft already has had Bill Gates step "out of the picture" and no longer running or even involved much in the day to day operations of the business- they know he's not going to be around for ever and a mega $billion dollar biz can't run on the back of one person.
If this entire OCAT "thing" is banked on Lanza being the end all- then they're in deep trouble as a biz IMO. It would be a terrible scenario to build an entire public company around one person. Mega high risk and doomed for failure IMO.
Being sold into the strength and the volume is pretty anemic.
The usual of late. Looks like just a little AM play cause a few got all excited about some erroneous after-hours, off-shore micro trade that got entered wrong or something and happened to match someone who probably had a sell order parked way above market- probably good till cancel for who knows how long.
Might even be some MM's using off-shore to try and game this thing a bit and unload into some strength or something by rallying up some buyers- maybe Lincoln and crew or someone else holding the big blocks (legal settlement, etc).
Nothing looks to really be happening here- it's already giving a lot of it back via selling and no real volume following on.
Nothing to see IMO.
Anemic volume, flat-lining day? Just no buying, even sub ONE CENT?
An hour into the trading day and it did about $285 bucks worth seconds after the open- and nothing since? 30K shares and it's just sitting, parked w/ one hour of trading? Where's all the retail Joe Q. Public buyers rushing in to get these shares at SUB ONE CENT?
On most of these "breather days" the past several months ole BMAK or CDEL slide way out of the picture. But BMAK has the usual 10K share block parked on the Ask at .0095, so that looks like as high as it will likely go today IMO.
Just no volume, no buying up-pressure at all lately. The sell/dump days are on millions of shares of volume, sometimes 3 or 4 million or more (the avg daily volume is now at over 2.5 million shares)- but on a day like this it does 30K shares moments after open and then can't post a single trade for more than an hour? Not ONE PERSON out in all of stock-ville wants even $100 bucks more worth of ole BHRT?
Makes no sense IMO. How this does millions of shares one day (the sell/dump days) and then can barely trade for hours at a time the next day like today? $285 bucks worth in an hour's trading?
0.0087 / 0.0095 (64999 x 10000)
http://www.otcmarkets.com/stock/BHRT/quote
LOL, quote: "It's Utter Ignorance To Characterize Phase1_as_Tiny_and Insignificant!
"
BS.
It's "utter ignorance" to create childish imagination scenarios whereby this stock/company is "supposedly" practically "at the finish line" or "past half way" blah, blah because they just finished a tiny, tiny phase I trial- which has yet to prove anything or get them even remotely close to an FDA approved product.
It's "RUDE ignorance" to see a company in business for 20 yrs and living off of public shareholders for what, half of those yr returning a 98% plus loss to the common shares all while an ever revolving door of a tiny, select group of upper mgt insiders have gotten filthy wealthy via large salaries and bonuses and perks galore and near endless free stock grants to SELL and DUMP at every chance they can and could- while the common holders have never seen one CENT of ROI to the common shares.
It's utter total ignorance IMO to watch $349 MILLION dollars (1/3 of a $BILLION in cash) go up in smoke, gone, spent, blown- and all there is to show for it is 20 yrs of wealthy insiders, some patents, a tiny phase I and an "article" in some journal- and still at least 5 years to a "chance" at an FDA approved product, if EVER. That's ignorance is bliss if there ever was.
It's total ignorance to ignore 15 plus years of hyped PR that's never come true, SEC violations and fines, endless promises and failed deadlines and an ever changing business "plan" that never seems to hit the mark or has yet to ever even remotely come close to salable products- let alone positive cash flows, profits or even sales at a loss.
It's total blind ignorance to not see a OTC company that couldn't even pull off an actual "IPO" to a listed market- but instead reverse merged onto the OTC market (desperation company way to get at more funds IMO) and then go on from there to dilute their own common shares to more than 3 BILLION shares outstanding while literally driving the price of the common shares to FIVE CENTS, aka ONE NICKEL.
Ignorance abounds in the myths and tall tales and ever illusive supposed next "big thing" that's always supposedly just around some imaginary Yellow Brick Road of this company- but somehow in 20 yrs has yet to ever materialize.
This IMO, is nothing but a long and sorted history of ignorance, tall tales, failed promises, hype, blown money of amounts that stagger the mind, fail to deliver, fail to produce, SEC violations, legal settlements paid by commmon shareholders, near endless self enrichment of insiders, etc
Ignorance? This stock is a poster child for it IMO.
LOL, a "lets make a share DEAL"??
And the "PR" for it is on the "Middle East North Africa Network"?? What?
What are they going to dream up next on this one? WHO is still holding shares from 2007, LOL? Those shares would have ONLY lost what, like 99.98% of their value? Interesting too IMO, is all the wording of that "PR" in which Leonhardt is stating/claiming he "didn't run the show since 2007" and the share price "went down when I didn't run it all" etc Like it's a "blame the other guys" (which would include the present mgt IMO, who ousted Leonhardt from the company it seems??) Interesting "wording" in the PR for sure, IMO.
The stock went public in 2008 at $5 a share and rapidly collapsed right out of the gate and was delisted from the Nasdaq within 1 yr or less.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBNETYMPJCg4
http://venturebeat.com/2008/02/20/bioheart-a-new-record-for-ipo-futility/
http://venturebeat.com/2008/02/19/three-yards-and-a-cloud-of-dust-bioheart-makes-it-across-the-ipo-goal-line-but-with-little-to-show-for-its-struggles/
Tomas then took over as CEO in 2010 at about .50 cents to .70 cents a share and the ever declining share price continued as did a program of just massive, massive common share dilution. Going from 30 million or so shares O/S at most in 2010 to over 650 MILLION shares O/S as of today, and still rapidly climbing w/ 2 BILLION shares now authorized to be issued.
So at $5 a share in 2008 at the time of the IPO to .009 or so today =
500 cents - .009 cents = 499.99 cents / 500 = 0.9998 x 100 = 99.98% TOTAL LOSS TO COMMON shares since 2008.
Someone's still holding a bundle of 2007 shares? Maybe Brenda Leonhardt is still holding 2007 shares per that lawsuit that was recently filed trying to get back the $2.3 million she's allegedly owed for loaning Bioheart a large amount of money w/ her then husband Howard Leonhardt? Even that, I think per the 10-K she didn't get granted those shares until the divorce which was in like 2010 or something.
10-K, year 2010, PAGE 17: (The Leonhardt divorce and "share split" as part of the divorce asset split)
http://www.sec.gov/Archives/edgar/data/1388319/000114544310001842/d27040.htm
"In February 2010 the Company’s Chief Science and Technology Officer and his spouse filed divorce papers. Pursuant to the divorce, their jointly owned shares and their ownership of the loan to Bioheart which they hold as a result of their payment of $3 million of principal and related interest to Bank of America on behalf of Bioheart, would be divided equally between them. As a result, the Chief Science and Technology Officer’s common shares were then reduced to 2,513,840 and his percentage shareholding of the Company to 13.8%, with his former spouse assuming ownership of the same number of common shares and percentage shareholding of the Company. Their commonly owned loan and related interest, as of March 29, 2010, $4,140,201, was been equally split. The Chief Science and Technology Officer on March 29, 2010, elected to convert his portion of the loan and related interest to
restricted common stock and warrants. As a result, Howard Leonhardt, the Company’s Chief Science and Technology Officer, as of March 31, 2010, owns approximately 22 % of the Company."
http://lawsuitpressrelease.com/investors-sue-bioheart-inc-millions-unpaid-debt
The company wasn't even a public traded company prior to 2008, so who of the general public (NON INSIDERS) can, or could even be holding shares of stock issued in 2007? How would that be possible other than to insiders like Leonhard himself and a select few others?
Who would be holding much, if any, 2007 shares other than maybe Leonhardt himself and maybe Tomas' Astri group and one or two other select insiders? It sounds IMO like a deal being done for insiders only more than likely??
Lets make a SHARE DEAL? Never heard of anything like this EVER being done?
Another fascinating twist in the long and sorted tale (IMO) of ole Bioheart. Bizzaro IMO. Swap your old "share credits" for some new "start-up" shares IF you plunk down "x" number of new bucks in the "new startup"? That's the way I'm reading that "PR" on the South African/Middle East "financial news", LOL? How does one even find that "PR"?
Quote, "No Hype here."
Read the highly respected journal "NATURE" writing about ACTC. I'd beg to differ that many of ACTC's own peers and some of the most qualified in academia have a differing viewpoint of ACTC's/OCAT's past history- and notoriety for "hype". One peer even stating they feel so much "hype" came out of ACTC that it potentially damaged the entire "Stem cell" arena of research and business.
http://www.nature.com/news/stem-cell-research-never-say-die-1.9759
Just one example of a verbatim quote from "NATURE" a very respected science journal:
"Lanza and his company have had plenty of experience in the spotlight, but the attention has not always been flattering. Since the late 1990s, ACT has gained a reputation as a renegade company, accused of overhyping results to raise attention and money. Critics say that the company has damaged the field more than once with its high-profile, controversial announcements, such as one describing the company's attempts to clone a human embryo1 in 2001. ACT's actions — and the highly politicized nature of stem-cell research — scared off investors, leaving the company teetering on the verge of bankruptcy for most of the past decade."
The words of "NATURE" not mine. How's that big OCAT phase II progressing so far (the one that was going to start end of 2014, 100 patients or something like that, per Lanza in a local MA newspaper) now Q1 2015 just ENDED TODAY? Any "big funding" in place yet like a $62 million secondary or are they just living off the ever dwindling "Lincoln credit card" while no major trial has started yet?
No? What a surprise.
LOL, "refute" what??? Like who didn't know the "Stem cell" field/biz is loaded with HYPE and over promises and mass failures to deliver, bad science, and loaded with notorious penny stocks, sham "treatment" clinics/doctors/phony "science" (the 60 minutes famous investigative piece on "stem cell" sham treatments), the FDA's own warnings on "stem cell" supposed treatments/cures/therapies, etc and money going down rat holes and what not?
Tell me something I didn't already know?
So now the L.A. Times and an investigative journalism piece has put in writing what most already know. Great. Excellent piece of writing IMO.
"NEW STUDY: STEM CELL FIELD IS INFECTED WITH HYPE
Michael Hiltzik / LOS ANGELES TIMES / 3-31-2015
Study finds that reporters, fed by scientists, overestimate potential for stem cell cures
Here's how scientific hype begets more hype, and why that could cost you
When billions of dollars are at stake in scientific research, researchers quickly learn that optimism sells.
A new study published in Science Translational Medicine offers a window into how hype arises in the interaction between the media and scientific researchers, and how resistant the hype machine is to hard, cold reality. The report's focus is on overly optimistic reporting on potential stem cell therapies. Its findings are discouraging.
The study by Timothy Caulfield and Kalina Kamenova of the University of Alberta law school (Caulfield is also on the faculty at the school of public health) found that stem cell researchers often ply journalists with "unrealistic timelines" for the development of stem cell therapies, and journalists often swallow these claims uncritically.
The authors mostly blame the scientists, who need to be more aware of "the importance of conveying realistic ... timelines to the popular press." We wouldn't give journalists this much of a pass; writers on scientific topics should understand that the development of drugs and therapies can take years and involve myriad dry holes and dead ends. They should be vigilant against gaudy promises.
That's especially true in stem cell research, which is slathered with so much money that immoderate predictions of success are common. The best illustration of that comes from California's stem cell program -- CIRM, or the California Institute for Regenerative Medicine -- a $6-billion public investment that was born in hype.
The promoters of Proposition 71, the 2004 ballot initiative that created CIRM, filled the airwaves with ads implying that the only thing standing between Michael J. Fox being cured of Parkinson's or Christopher Reeve walking again was Prop. 71's money. They commissioned a study asserting that California might reap a windfall in taxes, royalties and healthcare savings up to seven times the size of its $6-billion investment. One wouldn't build a storage shed on foundations this soft, much less a $6-billion mansion.
As we've observed before, "big science" programs create incentives to exaggerate results to meet the public's inflated expectations. The phenomenon was recognized as long ago as the 1960s, when the distinguished physicist Alvin Weinberg warned that big science "thrives on publicity," resulting in "the injection of a journalistic flavor into Big Science which is fundamentally in conflict with the scientific method.... The spectacular rather than the perceptive becomes the scientific standard."
Interestingly, the event used by the Alberta researchers as the fulcrum of their study has a strong connection to CIRM. It's the abrupt 2011 decision by Geron Corp. to terminate its pioneering stem cell development program. This was a big blow to the stem cell research community and to CIRM, which had endowed Geron with a $25-million loan for its stem cell-based spinal cord therapy development. Then-CIRM Chairman Robert Klein II had called the loan a "landmark step."
There had been evidence, however, that CIRM, eager to show progress toward bringing stem cell therapies to market, had downplayed legitimate questions about the state of Geron's science and the design of the clinical trial. And Geron had been criticized in the past for over-promising results.
In their study, Caulfield and Kamenova examined more than 300 articles appearing in 14 general-interest newspapers in the United States, Canada and Britain from 2010 to 2013. They scrutinized the articles' reporting of timelines for the "realization of the clinical promise of stem cell research" and their perspective on the future of the field generally. The U.S. newspapers were the New York Times, the Wall Street Journal, the Washington Post and USA Today.
They also examined whether the media's level of optimism changed after the Geron bombshell. They found "no substantial changes in expectations." (The study didn't make any reference to CIRM.)
On the whole, news coverage was strongly optimistic. Of all news reports indicating timelines for effective stem cell therapies, 69% predicted that these would be available "within 5 to 10 years or sooner, just around the corner or in the near future." This, they observed, is "not an accurate reflection of the realities" in making stem cell therapies available.
The danger, Caulfield and Kamenova wrote, is that "this high optimism in media coverage might be adding to the fostering of unrealistic expectations regarding the speed of clinical translation," and also raises questions about "the dynamic of hope that underpins a global market for unproven [stem cell] therapies."
In other words, hype begets hype, and money gets wasted.
One especially telling discovery by Caulfield and Kamenova is that reporting on the ethical, legal and social issues of stem cell research -- once-dominant subjects -- has fallen off. This may reflect the maturing of the field, they acknowledge. But it may also lead to more focus on forecasts and predictions, which don't seem to be getting any more accurate or judicious.
Scientific researchers, especially those working in the biotech industry, already face the same pressure as stock market analysts to predict sunny skies ahead. Yet as we know from the performance of the stock market in the last decade, unreasoned optimism can be very
"
1 MILLION shares on the Ask/sell side earlier (flashing huge sells, looks like), last day of Q-1 2015 and BMAK is parked a few levels deep at .01
Looks like it's gonna end Q-1 2015 as a SUB ONE CENTER more than likely
0.0088 / 0.0097 (18000 x 321600)
Bid has dropped sub .009 to .0088 (good ole CDEL on the Bid today) and Ask/sell-side is stacked 18 to 1.
Well, that's it for Q-1 then looks like. Guess the market hasn't absorbed all that "revenue" stuff and the "PRs" and whatnot? Or just maybe massive, on-going, low price share dilution trumps all else?
Have to wait and see when the next SEC filing of some sort comes out that has a O/S share count on it to see how much more massive dilution has occurred since the 10-K which covered to end of Dec 31 2014 and had a few subsequent events in it - making a "guesstimate" of dilution possible, and it looks like a huge dilution number (65 MILLION plus shares of common stock) for just Q-1 2015.
Wait and see I guess. My .0091 cents or so worth
LOL !! Quote, "Two Moons Kachinas is_Now Two Moons KA-CHING !!! "
Holy cow??? So its trading BELOW where it was like 4 or 5 years ago- but by golly it's "real"???
What does any of that even mean?? Are there companies that aren't "real" and are companies "better" who have some "story" or tale of someone named "Kathy" or whatever that was all about? What?
Watch Youtube why again? What?
Wow?
I'm confused I think? But I know a "PR" about nothing like this AM. Hey, when you need to end Q-1 and have raised no funding, when you haven't started you major phase II as promised, when you're burning down your Lincoln credit card to near zero balance- I guess when all else fails, just issued a good ole "PR ABOUT SOMETHING", anything, and see if it "sticks".
By the way the market reacted this AM, the ole PR didn't "stick" much. Went over like a lead balloon- the usual. Might as well be ACTC back on the ole OTC IMO. What's changed?
CDEL and BMAK ran control of the Ask/Sell side all day looks like- and kept loading it up with sell side shares continuously.
It's stacked heavy to the sell going into the close- lets see if they "paint the tape" or close it solid red today. Notice, a few light, anemic volume "breather days" last week where BMAK moved way off the Level II Ask (the pattern of the past several months) . Today, BMAK and CDEL both show back up sitting on the Ask and it's much, much higher vol and under big selling pressure.
IMO, BMAK and CDEL are the two dilution MMs - if I had to guess I'd say probably related to Asher and most likely Magna now (although BHRT has toxic, convertible debt deals with numerous other firms now too- Fourth Man, Daniel James multiple times, KBM Worldwide and now another firm recently added called Vis Vire or something like that) so who knows- but my gut tells me this daily BMAK/CDEL dance and use of 10K share blocks and all is for Manga and Asher most likely.
Well, there it went- the MM's sunk it on close today it looks like. Guess today was not a "paint the tape" day? Down solid red at .0092 on pretty solid volume.
Closing Bid/Ask
0.0091 / 0.0099 (10000 x 204000)
http://www.otcmarkets.com/stock/BHRT/quote
Bid/Ask was stacked 20:1 to the sell-side with CDEL parking all the shares on the Ask and BMAK sitting one level off of them w/ the usual 10K share block.
Q-1 ends tomorrow- looks like BHRT is off to a strong start to 2015 so far I guess? Sub ONE CENT for end of Q-1 if tomorrow looks anything like today? Guess the "revenue" thing hasn't quite all played out yet or something? The 14 million shares the recent 10-K filing shows being issued out at about .0036 per share sure can't be helping much IMO.
We'll have to see I guess? What's Q-2 going to look like in terms of on-going, continuous, massive common share dilution I wonder? 65 MILLION or so shares of dilution for Q-1 (at least through mid March) based on the 10-K. Will have to wait now until the next 10-Q probably to get some sense of how much more 2015 dilution is occurring still.
WRONG quote LOL, "Ha... check those companies 10k's in the early years.... same words... Ha
Same as OCAT my friend...... "
NO. None of the named companies ever, ever traded as penny stocks or "over the counter/pinks" etc. Never. Not even close to a true statement- just 100% false.
NOT the same as OCAT. Not even close. Probably every company named in that prior post was profitable, enormously profitable by the time they went public. Many of them were profitable essentially from their inception as a business (Microsoft for example, a cash printing machine from almost day one and never a penny stock or anything remotely close to it- one of the most successful IPO's in stock market history and a history of earnings and profit from the day they traded public as just one example). Those companies listed used private risk, high quality investment capital long before they ever went to the public markets, and by the time they did a REAL IPO (versus a direct-to-OTC reverse merger using a KACHINA DOLL COMPANY shell)- those companies listed had tremendously sought after IPO's and shares and were some of the most successful companies to ever "go public".
Again, 100% WRONG to even remotely try and connect any of those names to OTC OCAT and to claim that the companies listed were ever penny stocks or ever had "going concern" warnings, were ever de-listed from a major listed stock exchange etc.
Totally false myth statement(s). Not true in the slightest. NOT even remotely the "same" as ACTC/OCAT.
Quote 100% WRONG, "Every 10K has the warnings......lol not Just OCAT....."
Go check the Apple or Pfizer or Baxter or Merk or Chevron or Google or Microsoft or any of 1000's of 10-K filings (probably all of the S&P 500 is "going concern free" in their SEC filings and nearly all the DOW and almost any NYSE traded company barring one or two probably) read any 10-K or 10-Q from the S&P 500 list (500 companies) and do a "word search" and I can guarantee the words "GOING CONCERN" appear NOWHERE in those company's SEC filings. NOWHERE. NO "auditor" issued warning will be in those company's 10-K's warning of their "liquidity" condition or their "financial condition" etc. NONE. Will not be found. No way, no how.
GOING CONCERNS do not land in a 10-K by accident and are not in any way, shape, form or MYTH "boiler plate" language. A company's Sr. Mgt has a right to debate/dispute any statement the auditor (fiduciary bound, legally bound, licensed at the state level as CPA's, bound by Sarbanes–Oxley at the federal level, etc) - the mgt can dispute any statement made before they sign-off on that 10-K.
The LAST THING any company wants in their SEC filing is a "going concern" warning. It's the highest warning next to BK that a company can be given. It's a "liquidity" warning and is 100% NOT "boiler plate".
From the OCAT most recent 10-K SEC filing- this is NOT "boiler plate" - that is pure myth BS being stated. No company wants a "going concern" warning and will do anything to keep from having it in their financials- it's a huge RED FLAG to institutional investors as it's from the auditors and the Sr. mgt and it indicated serious cash/cash flow problems and liquidity and solvency problems- the most serious "squeeze" a company can get itself into:
From the OCAT most recent (just filed) 10-K, fiscal/calendar yr 2014:
PAGE 16:
"Our independent auditor’s report for the fiscal year ended December 31, 2014 includes an explanatory paragraph regarding substantial doubt about our ability to continue as a going concern.
Due to the uncertainty of our ability to meet our current operating and capital expenses, in their report on our audited annual financial statements as of and for the year ended December 31, 2014, our independent auditors included an explanatory paragraph regarding concerns about our ability to continue as a going concern. Recurring losses from operations raise substantial doubt about our ability to continue as a going concern. If we are unable to continue as a going concern, we might have to liquidate our assets and the values we receive for our assets in liquidation or dissolution could be significantly lower than the values reflected in our financial statements. In addition, the inclusion of an explanatory paragraph regarding substantial doubt about our ability to continue as a going concern and our lack of cash resources may materially adversely affect our share price and our ability to raise new capital or to enter into critical contractual relations with third parties.
Raising additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights."
PAGE F-1:
"The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 2 to the consolidated financial statements, the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
/s/ BDO USA, LLP
Boston, Massachusetts
March 16, 2015"
PAGE F-7:
"The accompanying consolidated financial statements have been prepared in conformity with GAAP which contemplate continuation of the Company as a going concern. However, as of December 31, 2014, the Company has an accumulated deficit of $349.1 million, recurring losses from operations, and negative working capital which raise substantial doubt about the ability of the Company to continue as a going concern. The ability to continue as a going concern is dependent upon many factors, including the Company’s ability to raise additional capital in a timely manner. On a long-term basis, we have no expectation of generating any meaningful revenues from our product candidates for a substantial period of time and must rely on raising funds in capital transactions to finance our research and development programs. Our future cash requirements will depend on many factors, including the pace and scope of our research and development programs, the costs involved in filing, prosecuting and enforcing patents, and other costs associated with commercializing our potential products. Accordingly, management’s plans to continue as a going concern contemplate raising additional capital including the execution of an agreement for a $30 million equity line in late June 2014, of which approximately $18.6 million remains available as of December 31, 2014. There can be no assurances that management can raise the necessary additional capital on favorable terms or at all. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern." "
HOW MANY TIMES did the Sr Mgt and the audit firm put those ole "boiler plate" words "GOING CONCERN" in just that ONE 10-K SEC filing? "boiler plate" LOL??? NO. It's all in their for legal reasons or they wouldn't put it in there. They have low cash/liquidity problems and that's what those NON-boiler plate, factual statements are saying and why Sr. Mgt put them in there and the audit firm insisted they get their own wording/statement on their paragraph also "on the record" with them specifically using the wording "GOING CONCERN" and "substantial doubt" etc.
NO way that's "boiler plate" and/or by accident. That's just the reality that they are in pretty desperation financial straights IMO and their audit firm/CPA licensed firm is the most qualified to evaluate that and they did- and they made very specifically worded WARNINGS statements about it, the poor financial health and low cash/poor liquidity situation of the company as of the period for which that 10-K filing covers- which is to Dec 31st, 2014.
My 6.14 pre R/S cents worth (whatever today's present price is at?)
BS quote, "Boiler Plate ultra-conservative. Listen to the CC, presentations, to get the real story!"
The LEGALLY BINDING statement of a condition of the health (or lack of financial or business health) of a public traded company is their written, signed and duly filed SEC FILINGS. PERIOD. Not a "conference call". It's the entire reason the SEC invented the 10-K and 10-Q and 8-K's and all the other forms they make public traded companies sign and file- it makes Sr Mgt SIGN THEIR NAMES to those documents, making them legally bound and responsible to be stating the truth. If Sr mgt "fudges" or lies on a duly filed SEC statement - they can face anything from small fines to enormous fines all the way to doing time in prison, as has happened many times. Enron, MCI-Worldcom, Tyco, Qwest, Adelphia, Computer Associates, etc
The list of CEO's and Sr mgt who've been fined by the SEC, it'd be phone book thick. ACTC GARY RABIN come to mind? SEC filings are what matters i the end the most, not "conference calls" or "PR" though the SEC can certainly consider and look at those and does look at those when they think something is "amiss" at a public traded firm.
But there's nothing "boiler plate" in a company's SEC filings (that's a pure myth) and nothing trivial about signing-off one's name on a public traded company's SEC filings (also audit firms take the responsibility of their firm's legal obligations, firm reputation, etc very seriously when considering what to say and state when auditing a public traded firm- the implications for a CPA, licensed audit firm are huge when involving public traded firms and their SEC 10-K's).
Be public traded is the "big leagues" and can come with big league consequences. Public companies are playing with OPM, OTHER PEOPLE'S MONEY and thus the executives have what's known as "fiduciary" responsibilities to the shareholders, the public, even the community, etc There's nothing "boiler plate" about it. I can guarantee that a company's SEC counsel reads every filing along with Sr Mgt before that CEO and CFO and any Chairman or BOD member inks their name on some document being uploaded to the SEC EDGAR database.
My 2 cents. "boiler plate" = myth as old as time and total nonsense IMO.
LOL NO, "We're Way Past Half Way Home"
This is just BARELY out of the starting gate with a tiny, tiny 18 person trial. That's not past "half way" past anything? That's like being on the one yard line with a 99 yard brutal drive ahead to the goal line and the toughest team in the league, the FDA has about 100 different ways to trip you up on the drive, and your financial situation has about 100 other ways to trip you up if the FDA doesn't do it (READ THE GOING CONCERN WARNINGS plastered all throughout the just filed 10-K. They're in horrible financial condition and their own auditor and Sr Mgt said so by "warning" about being liquid/financially solvent and a "going concern" in multiple places in the just filed 10-K. Public don't get "GOING CONCERN WARNINGS" popped into their 10-K filing for no reason, willy-nilly by their own fiduciary bound, CPA licenses audit firms).
And "no dilution"?? Yeah, and NO CASH EITHER and thus NO TRIAL STARTING for lack of CASH?? So what's the point of "no dilution YET" when they're not advancing or funding any Phase II yet? So what?
Lanza, their own insider said "maybe" year 2020, FIVE MORE YEARS for a "shot" at approval- aka a "maybe" and that's if about 1000 things all go right and nothing goes wrong. "half way home", LOL. NO. Not even close.
http://www.telegram.com/article/20141014/NEWS/310149525&Template=printart
QUOTE from a local MA and Lanza "on the record" and never retracted or disputed by OCAT. They ain't "half way" to anything yet:
http://www.telegram.com/article/20141014/NEWS/310149525&Template=printart
"Advanced Cell now hopes to launch a 100-patient, phase 2 study in Stargardt's patients by the end of the year, according to Dr. Lanza.
A second, smaller phase 2 study in patients with age-related macular degeneration would follow, he said. Any treatment might not be ready for FDA approval until 2020, Dr. Lanza said.
Well, Q-1 2015 is ENDING and that 100 person phase 2 isn't even STARTED yet. Kinda missed on the "we hope by end of 2014" little part? Another ACTC/OCAT "miss" to put in their long list of "misses".
Yeah, "no dilution" and almost OUT OF CASH. So what? They aren't funding a large, phase 2 trial yet either. And they're still running out of cash rapidly despite NOT funding a trail yet.
"NO DILUTION" yet. Big whoop. When they start paying the big coin for a big ole phase 2, lets see what the "no dilution" part looks like then.
They're running on the Lincoln "credit card" and they are diluting- every single month. Just not enough yet to bring in any serious cash to do anything other than fund their current paychecks and keep the lights on and run the same R&D they were over a yr ago. NO phase 2 is presently being funded. They missed their dates on it so far. Not-a-happening.
"safefty" from the FDA ITSELF, THEIR WEBSITE.
http://www.fda.gov/drugs/resourcesforyou/consumers/ucm143534.htm
Notice- the word "toxicity" is used in the phase I wording.
The word "SAFETY" continues to be used to describe the REASONS FOR A PHASE II, PHASE III and POST MARKET REQUIREMENTS. Yes, even after a drug is approved it's STILL BEING EVALUATED FOR SAFETY once on the market- just as in the PHASE II and PHASE III trials.
The word "safety" is plastered throughout all FDA testing phases. There is nothing to indicate or state that the FDA deems a drug candidate "safe" because it has completed a Phase I, tiny trial. Not even close.
FDA exact wording describing the Phase II trial process:
"Safety continues to be evaluated, and short-term side effects are studied. Typically, the number of subjects in Phase 2 studies ranges from a few dozen to about 300."
FDA's own words discussing the Phase III trial process/portion of a drug clinical trail process:
"Phase 3 studies begin if evidence of effectiveness is shown in Phase 2. These studies gather more information about safety and effectiveness, studying different populations and different dosages and using the drug in combination with other drugs. The number of subjects usually ranges from several hundred to about 3,000 people."
FDA's own wording about an APPROVED DRUG now in the "post market" follow-up requirement phase:
"Postmarket requirement and commitment studies are required of or agreed to by a sponsor, and are conducted after the FDA has approved a product for marketing. The FDA uses postmarket requirement and commitment studies to gather additional information about a product's safety, efficacy, or optimal use."
Safety, safety, safety- a new FDA drug candidate is not deemed or proven "safe" simply cause it's moving to a Phase II?? Totally a false statement. That's the FDA's own words and own website above. "Safety" or "unacceptable side effects" can sink a drug candidate at ANY phase in the process- I, II, III or even "post-market" after it's already being sold and used by physicians.
Remember a little "miracle pill" called Fen-Phen?
Here's a list of APPROVED drugs later pulled from the market via FDA actions- for SAFETY concerns/problems. Some took until years later to get yanked- many not even a yr or two at most from the time they were FDA approved and began to be marketed and used- it's not an exhaustive list. There's lots of lists- including on the FDA's own site, Wiki and similar. Some were withdrawn within months of beginning to be used as "approved" drugs. This is no "sure thing", not by a million miles yet. Nothing could be further from the truth IMO and all of recent FDA drug approval and the massive number of drugs that FAIL to get approved, proves that point IMO, beyond any doubt:
http://prescriptiondrugs.procon.org/view.resource.php?resourceID=005528
Moving to Phase II in no way is a guarantee or even close to some "stamp of approval" that a DRUG IS "SAFE". Simply not true.
Bid? Just sunk to .0085 looks like to me? The MM's just cleaned out everything in between and dropped it on a big spread now looks like to me? And right below that $850 bucks worth at .0085 is .008 on-deck.
BMAK and CDEL are both sitting on the Ask again this AM (though BMAK is slid back a few levels now, looks like CDEL is the one parking all the dilution shares on the Ask this AM for the most part), so that IMO tells me it's not going anywhere "up" past the CDEL price and certainly not past the BMAK 10K share block at .109, not until they decide to move it or not.
0.0085 / 0.0103 (100000 x 381000)
http://www.otcmarkets.com/stock/BHRT/quote
Stacked 3:1, almost 4:1 to the Ask/Sell-side looks like, w/ a good sized spread in between.
Shows 100K at .0085 as the Bid and the Ask is creeping down a bit from the AM. Just BMAK and CDEL "doing their thang" IMO. Nothing new on this past 3 plus month's trading now on this one. It's the dilution MM's at "work" IMO.
And there's a lot of dilution shares hangin out there now on this one IMO. 10's if not 100 MILLION or more, given just the most recent 10-K statement. That just filed 10-K showed 65 MILLION shares of pure dilution went out in just Jan/Feb and early March of 2015. Who knows how much more dilution was in the wings from prior to that- just waiting to be sold/dumped at the right time.
And they, BHRT, will still be continuously diluting in enormous amounts in real time for all intents and purposes IMO - that's what the just released 10-K showed me, that they're diluting as recent as a few weeks back in mid March in very large amounts and no sign of it abating or slowing down that I can see?
False quote, "The fact that the FDA has let OCAT move to Phase II, at least means the treatment is safe."??
What? Just moving to a Phase II does not mean FDA "safety" evaluation ceases or that the FDA has deemed a drug candidate to be "safe" now?
"Safety" testing/evaluation intensifies if anything in the Phase II. The candidate drug now goes to a much larger population sample and cross-section of different kinds of people of all different ages/concomitant diseases and maybe taking other meds or having other health issues, et and safety can sink a Phase II trial along with any other of 1000's of factors.
Trials get stopped/yanked all the time in Phase II because of unforeseen "safety" related issues/side effects showing up in the much, much large sample base than occurred in the tiny Phase I.
I can find via a simple Google search a wash-list of drug/pharm/bio product candidates that "were" (past tense) Phase II trials that got halted and many totally cancelled for SAFETY REASONS during the Phase II portion of their testing.
Easily. Nothing in the FDA Phase I/II/III trial process is deemed "safe" until the FDA APPROVES IT. And even then there is a huge and complex clinical follow-up process and "adverse event" reporting mechanism that goes on and can sink even an approved drug once it's in wide use in the market place.
Anyone remember the "miracle drug" ole Fen-Phen? YANKED once in wide use AFTER FDA APPROVAL because unforeseen "safety" issues began to surface in the clinic/doctor's office and via the adverse events reporting system.
Happens all the time w/ the FDA. OCAT has nothing "proven SAFE" yet? Not by a long shot, not even close.
LOL, TEVA "Mention has been made before about TEVA and potential acquisitions. TEVA announced this morning a 3.2B buyout. Not relevant except for one little detail:"
All except it's not relevant at all. In no way relevant to OCAT - no matter how much one tries to imagine it's "relevant" or insert myths or projection into it, it has, and had NOTHING to do with OCAT.
I can name 100 acquisitions of the past several years and NONE had a thing to do with OCAT?? So what? What's the point of doing that?
Oh, to "try" and get a name like TEVA and OCAT and $3.x BILLION put together and create a myth that there might/maybe/could perhaps someday be something magic like what TEVA just did happen to OCAT? OK. One can play fantasy all day long.
Again, WALMART has vision/eye centers in their 4000 plus worldwide stores and probably more cold hard cash than the U.S. Government. Therefor I can "see" a great possibility that WALMART might/maybe/could buy-out OCAT perhaps maybe someday, maybe even real soon depending on numerous unknown factors. Maybe. Also, AMAZON is a strong "rumored" possibility cause if people don't have good eyes and stuff- then KINDLE sales will be hurt, it's almost maybe a sure thing as AMAZON buys-out all kinds of companies, I mean tons of um and they have mountains of cash, a near bottomless cash drawer.
TEVA? Sure. Right on. So now every time some company w/ any ties remotely to drugs or pharma or bio-tech acquires another company- one is supposed to play imagination that it almost could have been OCAT? Really?
LOL, "PR" versus SEC 10-K details IMO, "Sunrise, FL – March 17, 2015 – Bioheart, Inc., a Florida Corporation (BHRT.OB), an emerging enterprise in the regenerative medicine / cellular therapy industry is pleased to announce, following the release of its Form 10-K Annual Report, key 2014 accomplishments including but not limited to:" blah, blah, blah.
I'll just stick to the "FULL REALITY" picture of the SEC FILING DETAILS myself. Much more "thorough" and much more of a "truer" full picture of the company's financial situation and continual use of COMMON SHARE DILUTION IMO. The details of the 10-K versus some subsequent "bullet point" PR blah, blah. Na, full SEC filed 10-K for me.
BHRT, according that just filed 10-K, issued out over 14 MILLION shares at .0367 and there's no way to "spin" that IMO. Funny how those nice sounding ole "PR" releases always seem to miss those "subsequent issue" pages like PAGE F-34:
From most recent filed 10-K, PAGE F-34:
"Subsequent stock issuances
In January 2015, the Company issued 4,783,568 shares of its common stock in settlement for services, provided 14,299,567 shares of its common stock in settlement of $49,500 of outstanding convertible notes payable, and $2,981 accrued interest and 2,096,450 shares of its common stock for net proceeds of $16,118 from equity drawdown under the Magna Purchase Agreement. "
So they paid 14 MILLION shares of common stock in return for "settlement" of $49,500 principal + $2,981 accrued interest = $52,481
So that's $52,481 / 14,299,567 = 0.00367 or .0037 CENT PER SHARE !!
14.2 MILLION shares issued out at .0037 CENTS EACH.
NO "PR" about that reality, Noooo? Funny how that always seems to "work" that way IMO? And that wasn't the only "subsequent share issue" in early 2015.
They, BHRT, issued/diluted over 65 MILLION shares in just early 2015 by the time the 10-K came out in mid March 2015- and funny IMO, is no great "sounding" little "bullet point" ole "PR" ever mentioned one WORD about any of that? Wonder why that is? A 10-K SEC filing of something like 65 plus pages- all boiled down to one very selective "PR" IMO- and a "PR" that sorta, kinda just happened to leave out some massively important realities- like issuing 65 MILLION more common shares of massive dilution in less than the first THREE MONTHS of the yr already. How'd they miss mentioning that in those cool, fancy power-point style ole "bullet points" and list of such great "accomplishments" (like "we reduced our cash use" LOL, yeah, no duh when you CUT R&D SPENDING by over $550K, like that's a real no brainer?)
How'd they issue out 65 MILLION shares in just early 2015? It's ALL RIGHT THERE IN THE 10-K FILING, but apparently didn't make it onto a cool "bullet point" ole PR about "accomplishments"?? Must of just sorta slipped and missed that "accomplishment" I guess- sorta like slipping a little one-liner in a different "PR" about how the "big phase III MIRROR trial" IS DONE, CANCELLED, OVER and never really happened essentially or was never really "FULLY FUNDED BY BHRT" EITHER since it kinda/sorta never actually really happened- pesky little "details" like those I guess IMO?
Here's the 65 MILLION SHARE DILUTION "story" right out that ole 10-K, just PERFECT IMO FOR A "PR" :
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000378/bioheart_10k.htm
PAGE F-34:
"Subsequent stock issuances
In January 2015, the Company issued 4,783,568 shares of its common stock in settlement for services, provided 14,299,567 shares of its common stock in settlement of $49,500 of outstanding convertible notes payable, and $2,981 accrued interest and 2,096,450 shares of its common stock for net proceeds of $16,118 from equity drawdown under the Magna Purchase Agreement.
In February 2015, the Company sold an aggregate of 1,443,656 shares of its common stock for net proceeds of $16,270. In connection with the stock sale, the Company issued an aggregate of 1,443,656 warrants to purchase the Company’s common stock for five years at $0.01127 per share. In addition, the Company issued 20,219,367 shares of its common stock in settlement of $132,500 of outstanding convertible notes payable and $2,520 accrued interest and 16,556,976 shares of its common stock for net proceeds of $135,645 from equity drawdown under the Magna Purchase Agreement.
In March 2015, the Company issued 6,185,432 shares of its common stock in settlement of $25,000 of outstanding convertible notes payable and $1,226 accrued interest. In addition, the Company issued 635,357 shares of its common stock as true up shares relating to the February 2015 equity drawdown under the Magna Purchase Agreement."
So lets see- just to "kick off" 2015, how much MASS DILUTION was that approx??
Oh about 4.7 MILLION + 14 MILLION or so + 2 MILLION more + 1.4 MILLION + 20 MILLION more + another little chunk of 16.5 MILLION + oh a tad more of 6 MILLION more or so and then a cool 600K more shares. So what that equal too just for the Jan/Feb MASS DILUTION KICK OFF MONTHS of 2015:
4.7 + 14 + 2 + 1.4 + 20 + 16.5 + 6 + .6 = approx 65.2 MILLION SHARES OF PURE FREE TRADING DILUTION in just Jan/Feb, mid-March of 2015. Holy cow !!
Yep, just perfect for one of those nice, compact little "PR" releases IMO. I don't know why the cutting R&D by like $550K to "reduce our cash use" one gets a PR "bullet point" but all that wonderful massive share dilution just doesn't get deemed "PR worthy" for some reason?
Oh well, makes no sense to me? That 65 MILLION shares of massive dilution in just early 2015 seems pretty "PR WORTHY" to me? But hey, that's just me I guess? SEC filing "details" for me personally- the "PR" stuff just doesn't do much for me personally. That's my preference- those SEC filings, yep.
BHRT issued shares at .0037 CENTS each, that's what toxic financing does and looks like.
14 MILLION plus shares at .0037 CENTS each. I knew that most of their "toxic" convertible notes had horrible terms (45% and 47% discounts built in for example)- but even with the recent price collapse it's hard to figure how someone got shares at only .00367 cents each? The conversion formulas are usually based on the "avg of the prior 10 days trading" or "avg of the prior 3 days closing price" something like that wording.
The most recent low was .007 cents (and SURE ENOUGH looking at a chart- it was in what? JANUARY 2015. Bingo. Some toxic debt holder must of converted right near that .007 low IMO, textbook example), so some firm must of put in to convert RIGHT, exactly at that low is all I can figure, in order to get their shares for .00367 cents. Wow ! That's gonna be a share price crusher IMO, 14 million shares now hanging out there at that price?
From most recent filed 10-K, PAGE F-34:
"Subsequent stock issuances
In January 2015, the Company issued 4,783,568 shares of its common stock in settlement for services, provided 14,299,567 shares of its common stock in settlement of $49,500 of outstanding convertible notes payable, and $2,981 accrued interest and 2,096,450 shares of its common stock for net proceeds of $16,118 from equity drawdown under the Magna Purchase Agreement. "
So they paid 14 MILLION shares of common stock in return for "settlement" of $49,500 principal + $2,981 accrued interest = $52,481
So that's $52,481 / 14,299,567 = 0.00367 or .0037 CENT PER SHARE !!
Wow. If that isn't the poster child of what "toxic" convertible debt can and will do- and what it's going to do to the common share price, then I don't know what is? Someone out there is, or was if they've been dumping, holding 14 MILLION SHARES that they got for .0037 CENTS each.
Holy cow. I missed that in my initial couple of reads on that 10-K. That is a stunner IMO. Amazing.
I'd say Jan/Feb, MARCH 2015 DILUTE is/already happened- they'd of had to tap Lincoln already IMO, since that 10-K was issued.
They had a measly $4 mil left on the cash line of their balance sheet, PAGE F-3 of 10-K (which was old info, snap shot as of Dec 31, 2014) against $1.2 mil of just "accounts payable" which are typically due in net 30 days, maybe 45 days tops if they have good credit terms with whoever they owe the money to (suppliers, vendors, etc). They have some large accrued expenses which I don't know if they need to make payments to service those on a regular basis or not w/o some heavy, more in depth 10-K reading. But they'd of bled that $4 mil down by now easy IMO, and they can't let it get to zero before they go through all the formalities and time it takes to make a "draw request" to Lincoln and then the lag to time to the actual cash landing in their bank- that's insolvency territory. So I'm sure they make those cash draws from Lincoln well ahead of that cash balance in the ole bank going even remotely close to zero.
They consume about $1.5 mil a month minimum just on their annual cash use/losses- maybe closer to $2 mil a month now that they've been bloating out the top mgt structure even more with big salaries and all.
So they'd of already been hitting Lincoln up more than once in Jan/Feb/March 2015 IMO- or they'd already be lights out.
The $18 million remaining on Lincoln- if I had to guess is $14 million now tops end of Q-1, probably a bit less even.
Just as an example of their "draw-down" rate on Lincoln (with no major trials being conducted, though they did pay some legal settlements owed- I believe that was done mostly, if not all, using shares of stock, no cash used)- one can get a "guesstimate" of the rate- by looking at 10-K, PAGE F-18:
"On June 27, 2014, the Company entered into a similar purchase agreement with Lincoln Park pursuant to which the Company has the right to sell to Lincoln Park up to $30,000,000 in shares of its common stock, subject to certain limitations set forth in the purchase agreement."
So on June 27, 2014 that Lincoln "line of credit" became "live" with an opening balance of $30 mil available.
Then 10-K PAGE F-19:
"During the twelve months ended December 31, 2014, Lincoln Park purchased 3,903,059 shares of common stock for cash proceeds of $25,661,844. 2,269,750 shares of common stock were sold to Lincoln Park pursuant to the 2012 Lincoln Park purchase agreement, for total proceeds of $14,281,295. 1,633,309 shares (including 106,008 shares issued as a commitment fee) of common stock were sold to Lincoln Park pursuant to the 2014 purchase agreement for total proceeds of $11,380,549.
"
So in 2014 they tapped Lincoln for a total of about $25 mil: they tapped-out the remainder of the "2012 Lincoln agreement" for $14 mil and then another amount of $11 mil or so using the new "2014 Lincoln agreement" for a total of about $25 million in 2014.
That's how they got about $18 mil left on Lincoln, the 2014 "credit line" : it's $30 mil - $11 mil = $19 mil tops, a bit less as they state on PAGE 15:
"As of December 31, 2014 $18,619,451 in proceeds remained available to us under the 2014 Purchase Agreement with Lincoln Park.
"
So they burned about $2 mil a month minimum in 2014 and have since been loading up the top, high paid mgt ranks, doing some other hiring- just spending more cash it looks like, certainly not cutting spending that I can see.
So at Dec 31 they had $4.4 mil cash left - $1.2 mil just accounts payable leaving um about $3.2 mil cash left tops, say by end of Jan. But they'd also be burning $2 mil in Jan, $2 mil in Feb and now almost $2 mil in March = $6 mil total approx. So they'd be negative $3 mil or so on the cash line by now w/o a Lincoln draw or two.
So I'd guess they'v tapped Lincoln for at least that $3 mil and then a cushion of at least another few months worth (or will be making that draw any day here now) for a total of $6 mil or so off that $18 mil Lincoln line balance leaving about $12 million remaining.
THAT is getting precariously LOW ON CASH IMO. Real low. Like red-zone low IMO. They need cash and need a lot of it and like yesterday. And that's all w/o running or even starting a single, large Phase II FDA level large trial.
Their own auditors felt their cash condition is low, red-zone enough to issue a "GOING CONCERN" warning in the 10-K, PAGE 16:
"Our independent auditor’s report for the fiscal year ended December 31, 2014 includes an explanatory paragraph regarding substantial doubt about our ability to continue as a going concern.
Due to the uncertainty of our ability to meet our current operating and capital expenses, in their report on our audited annual financial statements as of and for the year ended December 31, 2014, our independent auditors included an explanatory paragraph regarding concerns about our ability to continue as a going concern. Recurring losses from operations raise substantial doubt about our ability to continue as a going concern. If we are unable to continue as a going concern, we might have to liquidate our assets and the values we receive for our assets in liquidation or dissolution could be significantly lower than the values reflected in our financial statements. In addition, the inclusion of an explanatory paragraph regarding substantial doubt about our ability to continue as a going concern and our lack of cash resources may materially adversely affect our share price and our ability to raise new capital or to enter into critical contractual relations with third parties.
Raising additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights."
PAGE F-1:
"The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 2 to the consolidated financial statements, the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
/s/ BDO USA, LLP
Boston, Massachusetts
March 16, 2015"
PAGE F-7:
"The accompanying consolidated financial statements have been prepared in conformity with GAAP which contemplate continuation of the Company as a going concern. However, as of December 31, 2014, the Company has an accumulated deficit of $349.1 million, recurring losses from operations, and negative working capital which raise substantial doubt about the ability of the Company to continue as a going concern. The ability to continue as a going concern is dependent upon many factors, including the Company’s ability to raise additional capital in a timely manner. On a long-term basis, we have no expectation of generating any meaningful revenues from our product candidates for a substantial period of time and must rely on raising funds in capital transactions to finance our research and development programs. Our future cash requirements will depend on many factors, including the pace and scope of our research and development programs, the costs involved in filing, prosecuting and enforcing patents, and other costs associated with commercializing our potential products. Accordingly, management’s plans to continue as a going concern contemplate raising additional capital including the execution of an agreement for a $30 million equity line in late June 2014, of which approximately $18.6 million remains available as of December 31, 2014. There can be no assurances that management can raise the necessary additional capital on favorable terms or at all. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern."
Holy cow- look at that accumulated loss/deficit, it's a stunner !! Almost $350 MILLION up in smoke, gone. Wow !! I don't even think Amazon or Google or similar burned up that kind of coin before going profitable and becoming some of the most successful, largest market cap companies in world history. Over 1/4 of a $BILLION dollars gone as an OTC company and still years from a salable product if ever- that's quite stunning to consider. Amazing to me. $349 MILLION just gone and they got a published "paper", a few micro sized "trials" and some patents. Wowza, what the hey?