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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?
How much BHRT MASSIVE DILUTION in just early 2015 so far?
What was the "presentation" or some "conference" statement about- something like (paraphrasing), "Dilution is not, or is no longer acceptable and we'll only use financing on "acceptable" terms blah, blah" something to that effect? I can find the exact quote later I'm sure if I Google or read through the SEC filings and/or "presentation" stuff.
So Q-1 is over end of March, which is right now for all intents and purposes. So has BHRT stopped diluting at a furious pace? Has BHRT stopped using "toxic" convertible debt deals (no, not my description or wording, the SEC itself describes the type of financing that BHRT uses as "toxic" and "death spiral" or "ratchet" right on the SEC's own website and a recent Bloomberg finance written article and combined TV/video slice uses similar terminology)- so has anything really changed in the beginning of 2015, say in Jan, Feb and at least to mid-March of 2015 in terms of massive use of dilution by BHRT to fund their operations, which per their own just filed 10-K is THREE "employees" total?
Oh, and Q-1 is ending this Tues. and has the big ole MARVEL trial been re-started? Kinda doubt it IMO. Doesn't look to be happening? They finished 2014 with $36K TOTAL CASH to their name and don't seem to have found any large source of financing - so wonder if that big PHASE III MARVEL is rockin n rolling yet? Kinda doubt it IMO. Wonder how that "share buyback" thingy is going along too? Any "news" updates on that yet? Kinda haven't heard anything that I'm aware of- and Q-1 is ending?
Well, what does the just filed, most recent 10-K show in terms of BHRT on-going, seemingly never ending, massive common share dilution? This just recently filed 10-K had a supplemental section attached to the end of the filing covering events up to the filing date with the SEC, which was March 16th I believe.
And based on that yr 2014 10-K filing's "2015 supplemental info" appended to the filing's end portion- ole 2015 was/has been kicked-off and started with a WHOLE LOTTA MASS SHARE DILUTION GOING ON, like a big ole bunch IMO.
Most recent filed 10-K:
Some highlights of just Jan/Feb, up to just mid-March 2015, most recent, just 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.
"
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 MILLION SHARES OF PURE FREE TRADING DILUTION in just Jan/Feb, mid-March of 2015. Holy cow !! If that's "dilutions is not acceptable" type dilution, then I'd hate to see what the real "big" kinda dilution looks like?
All those shares, one can assume, looking at who receives them- the types of hedge fund type "finance houses" involved and similar- one can assume IMO that ever last one of those 65 MILLION shares go to the sell-side of the free market in fairly short order, as soon as "whoever" get them, has those free trading shares issued to them. Just a tremendous amount of shares to be "soaked up" and absorbed on the sell/Ask side of the market IMO.
And then a whole slew of toxic, "convertible debt" (floorless) note deals will all be coming due through the summer months clear till October and beyond which will highly likely result in even 10's and 10's of MILLIONS of more dilution shares being added, as will any "draw" on the Magna credit line (A single draw for around $100K, maybe $150K tops on the Magna line cost BHRT around 20 MILLION dilution shares; if the price goes lower it gets even worse than that each time they "draw" on that cash credit line facility)
Looking par for the course IMO. MARVEL "re-start"?? Too funny IMO. "dilution is not acceptable"?? What, LOL ??
IMO, I see no real slow down, no reduction, no abating to BHRT living off of and using massive common share dilution- I just see zero proof or even a slight indication or proof that that's true or occurring to any degree at all.
By mid March 2015 they had already added at least (that's a low side number) at least 65 MILLION shares of pure, 100%, GRADE-A common share dilution. That's a pace of about 70 MILLION shares minimum a qtr then so far in yr 2015- which would be right close to the 300 MILLION "run rate" of common share dilution per yr or so they'v been burning through, issuing out recently, like the past approx 1 yr or so.
Looks like dilution is on-going and at a furious, continual pace IMO.
SEC's own warnings of dilution and use of "toxic" convertible debt and Bloomberg finance journalism piece on Magna and how they finance "cash poor, desperate penny stock companies"- their own description and wording:
http://www.sec.gov/answers/convertibles.htm
http://www.bloomberg.com/news/articles/2015-03-12/josh-sason-made-millions-from-penny-stock-financing
"We should note that the Nature article is from January 2012."
That's the entire point- and what has changed since then? ANOTHER major change of the Sr mgt ranks being purged, SEC violations post the NATURE article in which a very talented, highly qualified peer stated, "Can a company with a checkered past be trusted?" meaning he hit it right on the "money" IMO when stating that in 2012.
Every single time ACTC/OCAT says it's "all different this time, trust us" - it sure seems to always turn out too be pretty much the same old broken record IMO. 15 yrs of it essentially. Is the big Phase II FDA trial even underway yet or even funded yet, end of Q-1 2015 now?
What's the share price done since that Nature article was written? Any products or major, large trials now completed and even remotely close to FDA approval since that Nature article was written in 2012? How much in $millions worth of fines and legal settlements were paid out of shareholder's money since that Nature article was written? Another major purge of nearly the entire Sr mgt ranks and another new CEO has occurred since that Nature article was written (typically a sign of major instability and failure in public traded firms). More insider selling, dumping and self-enrichment since that Nature article was written.
So what exactly has "changed" since 2012 when that was written? Looks pretty much all the same to me- all the same as that article in Nature explains very clearly IMO.
Quote wrong again, "This statement makes no sense:"
No, the statement makes 100% clear sense and is correct. The stock- despite a "paper" (article published, whatever one wants to call it), despite who knows how many Sr mgt and staff changeovers over the years and now a "new" team at the top again- a sign of a failing company, not a stable one- when their entire Sr ranks are "purged" following SEC violations and a whole other wash-list of failure to deliver, despite endless promises that things are "close", despite endless rumors of supposedly "something big" is "about" to maybe happen like GE being located down the street along with Walmart and a McDonalds and a Starbucks, despite the so called "uplist" and R/S spliting the stock 100:1 or whatever the enormous number was (Reverse splits are desperation moves typically, no healthy, successful, growing comapny EVER reverse splits their stock, they FORWARD SPLIT IT) and all the despite all the rest of the blah, blah, blah - despite any of that, the FACT REMAINS:
That is the R/S is backed out RIGHT NOW TODAY- one ends up with a 6.17 CENT STOCK that would have over 3 BILLION shares of dilution present. PERIOD.
"uplisting" has caused no real price appreciation or increase in value to the stock- it's lost value if anything since the magic "uplist". Changing out Sr. Mgt AGAIN and issuing a whole new pay n perks increase program (with one insider selling out a large chunk again, near a perfect short term "pop" in the stock- typical insider dumping for this company)- despite that the share price/value has made no real significant gains or increase.
Despite all that above "big supposed stuff" in 2014 and now the END OF Q-1 2015, the company has attracted NO MAJOR SOURCE OF NON-DILUTIVE financing and is living off of 100% pure, low grade Lincoln "credit card" financing that is dwindling fast by the day and they are CASH LOW as always- despite the big supposed "uplist" (with a botched, costly, failed secondary offering to go with it, as they had no takers or buyers of their shares at anything but bottom basement- despite the bio-tech sector being one of the hottest in history, during probably the biggest bull market run in world history) thus they have not brought in any large capital to START THEIR KEY TRIALS and have NOT STARTED THE PROMISED PHASE II, large FDA KEY TRIAL despite stating end of 2014 was the "goal" (see Lanza quoted in local MA newspaper)- and it's now END OF Q-1 2015, still no financing, still no trial commencing.
It makes no difference when one bought shares- that does not alter the reality of where this company is at in its historical share price massive decline and the company history of failing to produce any salable products yet as promised for years, or any ROI to any investor base since inception, etc.
What price one bought shares at does not alter any of that- the historical share price and where it sits to today (a 98% plus loss since trading public) is un-altered via when anyone bought a share or not. The company's poor financial condition and lack of ability to attract large capital to finance large trials etc is not altered via someone buying a R/S $6 bucks and change share of stock today - makes no difference to their just published, SEC filed, 10-K balance sheet- which shows them bleeding down cash and that they'd rapidly be insolvent/BK if not for diluting every month or two on the Lincoln, rapidly dwindling (easily less than $18 mil left on it now) credit line.
Simple as that.
ALL THE BEST, KIRK
Here's the highly respected journal Nature, an excellent article IMO. Explains very well IMO the long, "sorted" history of ACTC/OCAT IMO- and sounds like pretty much the same company as today to me, nothings really changed that I can see?
http://www.nature.com/news/stem-cell-research-never-say-die-1.9759
Quote from Nature article:
" 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."
Quote again from Nature article:
"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."
That's the journal "Nature" speaking, their words and those of some of the top people in the "stem cell" field. How many "big changes" ago was that written- and what's happened to the price/company performance since? (steadily declined share price, mountains of dilution and now a R/S, that's what) and Oh, just some SEC violations and another "purge" of nearly the entire Sr. mgt ranks, LOL. Yeah, after that guy at U of Pennsylvania made that statement- seems he was spot on correct to me and a bit of a "sage" and seer of what was to come IMO, maybe?
Wrong, quote ""500 - 6 = 494 / 500 = .988 X 100 = 98.8% LOSS to the common shares. FACT. MATH REALITY" Huh..... old news... what makes you keep thinking people are holding at a 98.8% loss.....that is old old ACTC news..this is now OCAT and the past CEO's are long gone..
"???
What? OLD NEWS? The price TODAY is 6.17 CENTS split adjusted. Thus the 98% plus LOSS TO COMMON is reality, TODAY. Not "old news" as is falsely claimed. Nothing "old" about it at all?
It makes NO DIFFERENCE when one bought shares- that has zero bearing or effect on the hard reality that the commons shares, the company itself, as of today, RIGHT NOW is a 98% plus LOSER COMPANY. When one bought shares does not change that hard reality. The stock has never, ever, ever produced a ROI to shareholders/investors and not ONE CENT of positive cash flows, let alone ever even remotely a profit or dividend or any other form of return. Read their SEC filings on sunk capital and total losses since inception. FACTS, not "old" news??
"new management" has not had any effect to this point in altering the reality that this common stock has LOST 98% plus of it's value since it started trading- from $5 a share to now 6.17 CENTS when the R/S split is backed out.
Nothing "old" about today's 6.17 CENT split adjusted stock price and the near total loss to common shares that still exists to this day- despite numerous mgt changes over numerous years.
LOL quote nonsense, " This is so elemental and is, and continues to be, wholly ignored by all of your repeated posts about dilution." and "THAT, as a blanket statement, is ridiculous"
1) I don't make "repeated posts" about dilution
2) Nothing stated as being "elemental" is even correct in the slightest- nothing but gross errors and a total misunderstanding trying to trivialize mass dilution and LACK OF A COMPANY'S ABILITY TO ATTRACT HIGH QUALITY, NON-DILUTIVE EQUITY STAKE or similar financing, the way HIGH QUALITY companies do it. As opposed to those that are so cash poor, so financially messed up since near inception that they can't even do an actual, traditional "IPO" but instead reverse merge straight to the OTC using the TWO MOONS KACHINA DOLL company to do it.
3) Again, "trying" (100% INCORRECTLY) to trivialize how serious it is for a company, a micro cap, to dilute out to 3 plus BILLION SHARES while literally driving their share price to an actual 5 CENTS shows totally being blind to the reality of the desperation of such a company. Some of the largest, most profitable, most successful companies on this planet don't have 3 BILLION shares outstanding- almost none, and those successful companies never had to dilute out to anywhere near that kind of astronomical share count and turn their common shares to what's close to toilet paper for all intents and purposes IMO.
4) MOST, the vast majority of companies that ever dilute out to literal PENNIES, as in 5 CENTS a share, and share counts like 3 BILLION plus while having true "penny" share prices- statistically most never "make it". Simple as that. They end up BK and/or just fold up and end up gone. The reality of penny-ville and micro-caps. Reverse splits is a hallmark of companies that have gone past desperation. Successful companies FORWARD SPLIT, desperation companies REVERSE SPLIT- that is reality and is not a "blanket" blah, blah or whatever.
5) REALITY- this company's common shares have LOST OVER 98% OF THEIR VALUE since they started trading public- THAT IS WHAT MASS DILUTION DOES. PERIOD. Spin away- cause that 98% LOSS FACT can't be changed.
$5.00 a share when first public = 500 cents a share. Today's price is 6.1 CENTS pre R/S
500 - 6 = 494 / 500 = .988 X 100 = 98.8% LOSS to the common shares. FACT. MATH REALITY.
How bad has ACTC/OCAT past been- and why they couldn't attract any "high quality" money? This article below explains a lot of it IMO, an excellent journalism piece in a highly respected publication. "high quality" money is from Venture funds like "Menlo Park" fame or even right in MA, OCAT'S own backyard- they have their own version of "Sand Hill Road" similar to the West Coast- of the who's who of venture firms- and OCAT has NOT been able to attract dime one from those investors- and that says a lot IMO. LOW QUALITY Lincoln credit card/pay day loan money- they're still living off it, and no "article" or anything else has changed that reality yet. FACTS versus fantasy land.
http://www.nature.com/news/stem-cell-research-never-say-die-1.9759
NATURE, a very respected publication-
"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."
More than TEN YEARS ago now. And from there they went on to dilute to 3 BILLION plus shares- never yet producing even close to a salable or marketable or FDA or similar approved product. AA tiny 18 person micro "trial" study and an "article"- big whoop IMO. And $100 MILLION plus dollars up in smoke and a few SEC violations and prosecutions along the way and numerous change-outs to Sr mgt and a lot of insider self-enriching too boot. Other than that, what?
REALITY versus fantasy-ville IMO. And they're still a long, long, long way from anything yet and starving for enough cash to even come close to funding a FDA level Phase II large clinical trial. Which likely means MORE MASS DILUTION which likely means more down-pressure to the common shares- which are already sitting at a 98% plus loss since inception. Simple as that. Never one CENT of ROI to shareholders has ever been produced. Again, just a fact.
Spin it how ever one wants and claim it's "ridiculous" and blah, blah, blah. Can't change the reality of their situation and their past- it is what it is. As of yet- nothing much, if anything, has really changed IMO.
LOL, not figuring in the dilution? Well how is dilution good for a common shareholder? It only wipes out their investment more and more over time?
Companies who grow only do stock splits (FORWARD) because their companies have organically grown so much and their share price appreciated so much - it gets hard for the little guy to buy even a few shares (Apple at $500 a share, Google same, Chevron same if they'd never split, Buffets Berkshire fund at $1000's per share as he never splits it, etc)
So what, so massive dilution was slowly absorbed in the market and has managed to pump the market cap back to even or whatever with where it was years ago, despite a ever declining share price. That a BAD thing to shareholder, not a good thing?
One wants NO DILUTION and the market cap to go up because of real share price appreciation- not market cap inflation via piling shares on, never ending, diluting each shareholder portion of the pie ever smaller and smaller and smaller?
That's the entire reason that dilution is so detrimental to the common shareholder- their holdings as a portion of the company literally get "diluted away" over time.
If they owned 1/100th of the company 5 yrs ago. Then today they own like 1/1000th of the company for example- whatever the reals numbers are as they hiked the share count to over 3 BILLION O/S shares. That's bad for holders, not a good thing.
The R/S makes zero difference to dilution- it's still as real as it ever was. Because on the day they do the R/S (reverse split) not only did the share price change- but everyone's holding in their account got equally divided down by the factor of 100 or whatever it was. It's a wash mathematically.
Stock splits never change market cap or ones holdings- they are neutral from that stand point.
Not sure what the point is?
Quote wrong, "This is not a valid statement. Stock price 3 years ago is not apples to apples comparison. You and everyone else knows that the O/S 3 years was less than it is now. What is the adjusted PPS compared to 3 years ago. I bet the Market Cap is about the same or more than 3 years ago."
No, actually it's a 100% COMPLETELY CORRECT statement. Split-adjusted is exactly how one compares any stock that's gone through either a forward or reverse split- it's 100% apples to apples and done everyday in the market and on all major stock charts- that always account for splits.
Here is the stock chart of OCAT/ACTC and it's 100% CORRECTED/ADJUESTED FOR the R/S split, aka SPLIT ADJUSTED and one can plainly see- that 3 plus yrs ago at this time period, OCAT was on avg much higher in dollars compared to the stock in today's split adjusted price and number of shares.
My info is 100% correct- no errors.
There it is. DECLINED and BELOW where it was 3 plus yrs ago- plain as day and 100% split-adjusted, par comparison.
Quote, "Rumor? Linkedin"
AND this means supposedly what to OCAT? What's it mean in EXACT terms of some myth "JV" or anything else between OCAT and GE? What?
I know 100's of tech people I've worked with who went from one company to another to another- we often even helped others get hired at the next place after layoffs at a prior place.
But it NEVER, EVER even remotely implied the two companies were in some "JV" speculative situation or forming a mythological "partnership" or anything else.
So someone has a linked-in page who was at ACTC and also did some work for GE?? No big deal- happens all the time in tech, 1000's of times a day around the country.
Big whoop about nothing IMO.
LOL, quote the GE rumor "thing" again, "Does Lemieux, Linda have a connection with GE and OCAT?"
So it's back to the GE rumor mill, mythology thing again? Cause GE has some plant somewhere sorta in the same place as OCAT's building? (along with Starbucks and Walmart stores and about 1000 other businesses "near" the OCAT headquarters) Is that it again now?
Aren't there any better or newer rumors available? Now some lady's linked-in page and blah, blah "GE" supposedly, AGAIN?
OK. Stock price is parked at $6.13 or whatever, below where it was over 3 or 4 years ago.
But if some person who's bounced around doing work at all sorts of companies (common in high tech)- if that's the latest rumor cause that person did some work at "GE" along with GE's other 300 THOUSAND plus worldwide employees- if that's supposed to "mean something" supposedly about OCAT out in "make up a rumor land", then OK I guess?
The market sure must not be in on this latest rumor looks like- they aren't piling in to buy shares based on the whole "GE" myth thing.
Means nothing IMO. Just another variation on old, regurgitated rumors and vast made up conjectures that all originate on the same, tiny, normally 100% TOTALLY WRONG micro "blog" or website- whatever one calls that site.
My $6 and small change worth
Quote LOL, "Definitely and we've been green for 2 days... And now above .01
As soon as we get our phase 3 restarted... This thing is gonna blow up. I guarantee it."
Wow, TWO WHOLE "green" days in a 10 month plus solid downtrend. Amazing.
Oh yeah- "as soon as" that ole phase 3 restarts?? What part of the $36K cash-on-hand with the $2 MILLION plus in just "accounts payable" due in that 10-K is gonna pay for this imaginary "re-start"??
Gonna be a long time then IMO before it "blows up". It might "blow up" to BK from the way the auditor's "going concern warnings" read, that's about the only "blow up" I'd see possible.
From the just filed SEC 10-K end of yr 2014:
PAGE 26:
"
Risks Related to Our Financial Position and Need for Additional Financing
We will need to secure additional financing in 2015 in order to continue to finance our operations. If we are unable to secure additional financing on acceptable terms, or at all, we may be forced to curtail or cease our operations.
As of December 31, 2014, we had cash and cash equivalents of approximately $36,674 and an accumulated capital deficit of approximately $120,434,494. As such, our existing cash resources are insufficient to finance even our immediate operations. Accordingly, we will need to secure additional sources of capital to develop our business and product candidates as planned. We are seeking substantial additional financing through public and/or private financing, which may include equity and/or debt financings, research grants and through other arrangements,
26
including collaborative arrangements. As part of such efforts, we may seek loans from certain of our executive officers, directors and/or current shareholders. We may also seek to satisfy some of our obligations to the guarantors of our loan with Seaside National Bank & Trust, or the Guarantors, through the issuance of various forms of securities or debt on negotiated terms. However, financing and/or alternative arrangements with the Guarantors may not be available when we need it, or may not be available on acceptable terms.
If we are unable to secure additional financing in the near term, we may be forced to:
· curtail or abandon our existing business plans;
· reduce our headcount;
· default on our debt obligations;
· file for bankruptcy;
· seek to sell some or all of our assets; and/or
· cease our operations.
If we are forced to take any of these steps, any investment in our common stock may be worthless."
PAGE 27:
"Our independent registered public accounting firm has expressed substantial doubt about our ability to continue as a going concern.
Our independent registered public accounting firm issued its report dated March 16th, 2015 in connection with the audit of our financial statements as of December 31, 2014, which included an explanatory paragraph describing the existence of conditions that raise substantial doubt about our ability to continue as a going concern. In addition, our note to our financial statements for the year ended December 31, 2014 included an explanatory paragraph describing the existence of conditions that raise substantial doubt about our ability to continue as a going concern. If we are not able to continue as a going concern, it is likely that holders of our common stock will lose all of their investment. Our financial statements do not include any adjustments that might result from the outcome of this uncertainty.
We are a development stage life sciences company with a limited operating history and a history of net losses and negative cash flows from operations. We may never be profitable, and if we incur operating losses and generate negative cash flows from operations for longer than expected, we may be unable to continue operations."
PAGE 44:
"Our Ability To Continue as a Going Concern
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. Our financial statements as of December 31, 2014 have been prepared under the assumption that we will continue as a going concern. If we are not able to continue as a going concern, it is likely that holders of our common stock will lose all of their investment. Our financial statements do not include any adjustments that might result from the outcome of this uncertainty."
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.
As of December 31, 2014, we had $5,852,790 in outstanding loans."
PAGE F-2:
"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"
PAGE F-12:
"NOTE 2 — GOING CONCERN MATTERS
The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying consolidated financial statements during year ended December 31, 2014, the Company incurred net losses of $2,253,511 and used $1,108,647 in cash for operating activities. These factors among others may indicate that the Company will be unable to continue as a going concern for a reasonable period of time.
The Company’s existence is dependent upon management’s ability to develop profitable operations and to obtain additional funding sources. There can be no assurance that the Company’s financing efforts will result in profitable operations or the resolution of the Company’s liquidity problems. The accompanying statements do not include any adjustments that might result should the Company be unable to continue as a going concern.
The Company’s ability to obtain additional debt financing and/or alternative arrangements, with the Guarantors or otherwise, may be limited by the amount of, terms and restrictions of our then current debt. Accordingly, until such time, we will generally be restricted from, among other things, incurring additional indebtedness or liens, with limited exceptions. Additional debt financing, if available, may involve restrictive covenants that limit or further limit our operating and financial flexibility and prohibit us from making distributions to shareholders."
Gee, since everything is going so swell and all- and those "big trials" are all "just about" to kinda-sorta happen I guess and it's really close to "blowing up" and all- boy they sure to like to put GOING CONCERN and other dire warnings about their extremely poor financial condition in those pesky old SEC filed 10-K's and stuff? Wonder why that is?
Makes no sense to me, IMO, when it's just so close to "blowing up" and about to maybe "restart big phase 3's" and "go big" and all? And trades at a whopping ONE CENT on a big "green day" and all?
Why all those 10-K warnings then? Oh, well, I can't figure it out or make any sense of it? Very confusing IMO?
So many warnings in one SEC filing but all these others saying it's just about to be huge and "blow up" big and all?
BMAK and CDEL both moved back down on that Ask now at .105 and Bid now dropped back to sub ONE CENT
Looks like "that's it folks" IMO, not likely going any higher than that .0105 then- unless those two move way back off the Ask as they did for two "breather days"
0.01 / 0.0105 (200000 x 289986)
http://www.otcmarkets.com/stock/BHRT/quote
Just went RED back to ONE CENT, as expected. If BMAK is parked on the Ask w/ that 10K share block at .0105, not gonna break that IMO, not for now at least. BMAK and CDEL just loaded down the Ask/Sell-side.
Oh, but wait- there's gonna be "big news" when they re-start the MARVEL phase III, LOL !!! Oh yeah, which part of the $36K or which part of the next $25K toxic, convertible note deal (they did THREE so far in just Jan/Fab of 2015) or which part of a $100K Magna credit line draw (cost um 19 MILLION dilution shares for the first draw, plus 9 million more in Magna "fees") which part of that big ole money pile is gonna pay for an imaginary phase III trial "re-start"?? LOL !!
Oh, yeah- the big year with the big sales of 2014 and they ended with less cash on hand than in 2013, a whopping $36K bucks in the bank. But that ole "might/maybe/we could/we hope two/possibly/perhaps/if funded" ole MARVEL trial, going on over 5 YEARS old is right in that "re-start" on-deck circle getting all warmed up to go? That ole money that's not there is just gonna materialize out of nowhere again, like it's supposedly been for the past 5 plus years?
From the just filed 10-K, 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."
Oh yeah, sounds like big, $10's of MILLIONS for some imaginary "phase III re-start" is just sitting right around that other bend that Yellow Brick Road, LOL ! Sure.
Same just filed 10-K, 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.
As of December 31, 2014, we had $5,852,790 in outstanding loans."
Oh yeah, over $5 MILLION in outstanding loans and $11 MILLION in total capital deficits with $36K big bucks left in the bank- but that ole "big MARVEL phase III" is almost/maybe/kinda-sorta/perhaps/when funds come in/probably/could-maybe just about to be re-started?? LOL. Right, another fantasy myth IMO. It's been 5 plus yrs of "it's about to be restarted". WHERE'S THE MONEY TO FUND IT? Not there.
Remember a "big phase III" called MIRROR that NEVER HAPPENED? And now just vanished, gone per a one liner in some PR?
Here's the great "sounding" PR's about that ole MIRROR PHASE III, all except the part where it NEVER ACTUALLY HAPPENED and then was cancelled/vanished just recently with no further explanation given:
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
Wow, FULLY FUNDED BY BIOHEART, "first patient enrolled" LOL, ONE. And then- after 1.5 yrs, a big ole goose egg, NOTHING. Nothing more ever happened.
Then came the ole "big presentation" - and MIRROR is a gonner, never happened, never progressed, never was "FULLY FUNDED BY BIOHEART" as claimed. What a surprise - funny how that happened and just got a lil ole "one liner" no-explanation that it's just done, gone, over now. Kaput. Goodbye. Not happening and never really happened for all intents and purposes IMO.
http://finance.yahoo.com/news/bioheart-updates-diversifies-clinical-development-150000986.html
And here it is- the other supposed "big trials" that went NOWHERE:
Quote from one-line slipped into middle of "grand sounding" ole "PR":
"The Company has no further plans to advance its ANGEL and MIRROR clinical development programs"
LOL, not much to "advance" on ole "MIRROR" when it never actually went anywhere in the first place??
Oh yeah, just waiting on that ole MARVEL "re-start". Q-1 is OVER in a few days- and nothing's changed that I can see. Not a thing. Other than easily 50 MILLION plus dilution shares already in 2015 from just reading the 10-K for Jan/Feb (who knows how many 10's of MILLIONS of shares got issued in just March 2015?) but- Jan, Feb were whopper dilution months and whopper toxic financing deal months just to kick-off 2015 IMO.
Some highlights of just Jan/Feb 2015, most recent, just 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.
"
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 MILLION SHARES OF PURE FREE TRADING DILUTION in just Jan/Feb of 2015.
And then a whole slew of toxic, "convertible debt" (floorless) note deals all coming due through the summer months clear till October.
Looking par for the course IMO. MARVEL "re-start"?? Too funny IMO. "India" blah, blah "trials news" or whatever? OK, sure. Probably never hear of "India" again IMO, other than maybe a line or two that it "went great" or similar.
My 1 CENT worth this AM