Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
700K just came up on Ask, sell side, Bid is thin to .0082
Ask dropped to .0092 with that 700K showing up.
I guess this is the "rally" apparently?
Only 10K shares at .009 on that Bid and it goes to .0082
That's a whole $90 bucks worth to go on the Bid and it hits the .008 range more than likely.
http://www.otcmarkets.com/stock/BHRT/quote
Quote: "As we know from the previous Bioheart Conference Call, Mr. Tomas in his opening statement brought attention to the fact his Company's security was/has been targeted by stock manipulators."
Is this in writing somewhere, recorded for perpetuity?
Where can one verify this? A CEO of a public traded company actually discussed their stock trading behavior/price in public and used the specific term and wording "targeted by stock manipulators"??
Really? Those were the exact words?
Again, is this written down? This should be sent to stock regulators ASAP IMO, they'd want to know this rumored "manipulation" is taking place I'm sure.
Did the CEO ever mention anything about massive, massive, massive and continual common share DILUTION (like maybe 300 MILLION shares worth, more than doubling approx of the O/S in about the past 1 yr period?) and use of toxic, endless, convertible debt "financing" and the well researched, well established, well known industry-wide facts as to what happens, nearly 100% of the time to the common stock share price when endless dilution and especially toxic, floorless convertible debt financing is used? Was that discussed in depth and detail when the "targeted by stock manipulators" thingy was talked about supossedly? Was the use of floorless convertible debt deals and on-going dilution discussed at all in detail as to how it's used to pay large cash bonuses totaling $800K to just 2 people of a 4 or 5 person "employee" company (per their own SEC filings, see latest filed 10-Q, PAGE 23)??
http://www.sec.gov/Archives/edgar/data/1388319/000114544314001305/d31740.htm
Here's a link below to the SEC (United States Govt Securities and Exchange Commission) and what they have to say about "convertibles" aka the use of "convertible debt" financing- it might be helpful IMO.
http://www.sec.gov/answers/convertibles.htm
Quote from SEC:
"By contrast, in less conventional convertible security financings, the conversion ratio may be based on fluctuating market prices to determine the number of shares of common stock to be issued on conversion. A market price based conversion formula protects the holders of the convertibles against price declines, while subjecting both the company and the holders of its common stock to certain risks. Because a market price based conversion formula can lead to dramatic stock price reductions and corresponding negative effects on both the company and its shareholders, convertible security financings with market price based conversion ratios have colloquially been called "floorless", "toxic," "death spiral," and "ratchet" convertibles.
Both investors and companies should understand that market price based convertible security deals can affect the company and possibly lower the value of its securities. Here's how these deals tend to work and the risks they pose:"
Continuing quoting from the SEC website :
"The company issues convertible securities that allow the holders to convert their securities to common stock at a discount to the market price at the time of conversion. That means that the lower the stock price, the more shares the company must issue on conversion.
* The more shares the company issues on conversion, the greater the dilution to the company's shareholders will be. The company will have more shares outstanding after the conversion, revenues per share will be lower, and individual investors will own proportionally less of the company. While dilution can occur with either fixed or market price based conversion formulas, the risk of potential adverse effects increases with a market price based conversion formula.
* The greater the dilution, the greater the potential that the stock price per share will fall. The more the stock price falls, the greater the number of shares the company may have to issue in future conversions and the harder it might be for the company to obtain other financing."
And final quote from the SEC on "convertible debt use financing":
"Companies should also understand the terms and risks of convertible security arrangements so that they can appropriately evaluate the issues that arise. Companies entering into these types of convertible securities transactions should understand fully the effects that the market price based conversion ratio may have on the company and the market for its securities. Companies should also consider the effect that significant share issuances and below market conversions have on a company's ability to obtain other financing."
That's what thee SEC has to say about dilution, lots of dilution and especially when connected to use of "convertible debt financing" and how it can negatively impact the price of a company's common stock shares.
I tend to think the SEC knows that they're talking about- I'm sticking with the SEC as my source of info, but that's me. "manipulators" per some rumored statement? I'd say dilution and "convertible debt" financing has a high probability of putting down pressure on a company's share price, lot of down pressure- and that's directly from thee SEC as my source of due diligence and research and opinion.
My 2 cents.
Quote: "IMO This should be a $200 million market cap this year. .12 is the low end IMO. Hopefully we see a significant share buyback this year as well!"
It SHOULD BE whatever the market says it is, that's reality. As of right now, that reality is a market cap of about $5.5 million dollars and a sub one CENT share price.
That is what it "should be" because that's what the market thinks it's worth and is assigning to it- and has been for several months now, right in that range.
Market caps aren't just "imagined", they're the reality of a free market and what the share price trades at on those markets.
When the shares have been diluted by more than double, yr over yr from about 300 million to now over 600 million it's tough to make gains IMO. Most of those shares have gone out as very low priced shares- often in combination with convertible debt, floorless, aka "toxic" type financing deals. That put tremendous down pressure on almost all stocks that ever do it- dilute at a furious pace and mix it with toxic convertible floorless type debt financing.
BHRT has diluted out approx another 50 MILLION shares just since early Nov to early Feb - one can determine that number by looking at the share count given on page 1 of the last filed 10-Q and then compare it to the share count O/S number given on the "proxy" statement document filed with the SEC regarding the votes tallied- the difference is about 50 MILLION shares over that approx. 3 month period. Dilution is going as strong as ever- not abating.
And BHRT used toxic debt financing deals as recently as Oct of 2014 per the last filed 10-Q.
http://www.sec.gov/answers/convertibles.htm
Last 10-Q, PAGE 26 (THREE toxic type financing deals in a row, end of 2014)
"Subsequent financing
KBM Worldwide
On October 6, 2014, the Company entered into a Securities Purchase Agreement with KBM Worldwide, Inc., 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 July 8, 2015,. The Note is convertible into common stock, at holder’s option, at a 45% discount to the lowest daily 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 and accrued interest at 150%, and any other amounts.
Daniel James Management
On October 3, 2014, the Company entered into a Securities Purchase Agreement with Daniel James Management, Inc., for the sale of a 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 October 2, 2015. The Note is convertible into common stock, at holder’s option, at a 47% discount to the lowest daily 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 and accrued interest at 150%, and any other amounts.
Magna Equities, LLC
On October 7, 2014, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with Magna Equities II, LLC, a New York limited liability company (“Magna”). The Purchase Agreement provides that, upon the terms and subject to the conditions set forth therein, Magna shall purchase from the Company, a senior convertible note with an initial principal amount of $307,500 (the “Convertible Note”) for a purchase price of $205,000 (an approximately 33.33% original issue discount). Pursuant to the Purchase Agreement, the Company issued the Convertible Note to Magna. The Convertible Note matures on August 7, 2015 and, in addition to the approximately 33.33% original issue discount, accrues interest at the rate of 12% per annum.
The Convertible Note is convertible at any time, in whole or in part, at Magna’s option into shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), at a fixed conversion price of $0.01035 per share. $40,000 of the outstanding principal amount of the Convertible Note (together with any accrued and unpaid interest with respect to such portion of the principal amount) shall be automatically extinguished (without any cash payment by the Company) under certain conditions described in the Purchase Agreement. In connection with the execution of the Purchase Agreement, the Company and Magna also entered into a registration rights agreement (the “Registration Rights Agreement”). Pursuant to the Registration Rights Agreement, the Company has agreed to file an initial registration statement with the SEC to register the resale of the Common Stock into which the Convertible Note may be converted,"
THREE toxic "note" deals heading right into the end of 2014 and look at the due dates on um- one as early as July this yr and the next Aug. That means those firms are going to be more than likely converting those shares now or soon IMO, if they've not even done it already.
Massive dilution has consequences whenever I've seen it used in an on-going, essentially never ending form such as BHRT does, especially the most toxic kind which is floorless, convertible debt type. There is no bottom to the price at which those firms can convert shares and still make money- in fact the lower the share price goes, those lending firms just get that much more shares to sell per the conversion formulas shown above. The SEC link shows the SEC's thoughts and warnings on the use of that type of "toxic" or "ratchet" type financing, their words and description.
BS, Quote: "When ISC starts up, shorts get scared in my opinion. Been watching this happen time in time again."
1) What is "ICS" and how is it "starting up"???
2) The open short interest on this stock at any given time on any given day is NIL, NOTHING, ZERO for all intents and purposes. There is no open short interest or shorts on this stock?? Where? Where are they, these mysterious shorts who hold all the short shares?
I can look for open short interest on 20 different websites and it's listed as essentially ZERO for all intents and purposes when BHRT is looked up.
"been watching this happen time in time again"??
Where? What happened time in time again? Where can this be watched, whatever it is?
LOL, QUOTE: " Probably 40-70million shares on the bid at $0.008 and above. BHRT true valuation according to its competitors is over a $0.12 valuation...Longs know it."
What? Total BS.
There was about 60K shares on the Bid yesterday above .008 and maybe a little over 1.2 million shares at .008 Bid.
NO MM or combo of MM EVER puts up "40-70 million shares" on either the Bid or the Ask or the combination of both? When and where has this ever happened?
The entire float of the stock is something like 500 million shares right now.
There is NO DAY and no combo of MM's bidding for more than 10% on any day and certainly NOT yesterday. Total myth. Did not happen and does not happen. 10% of the float was trying to be bought as the Bid/Ask was continually sinking essentially all day yesterday?
BMAK now parked directly on the Ask w/ their usual 10K share block. Looks like it's probably not going above .01 or so for right now then.
Bid/Ask is heavily tilted toward the sell side- with about 3 to 1 on the Ask. There's just really no buyers/buying interest in here even at these prices.
There's not much to be chewed through on the Bid. If one person throws in the towel and sell maybe $500 bucks worth and takes the Ask of .0099, it's could drop to about .009 in a blink, as the Bid is only about 50K shares deep at .0099 right now. Next stop is .009 and lower.
$500 bucks, one tiny order could sink it pretty hard it looks like from the Level II.
Very weak in here IMO and BMAK being back, parked hard on that Ask, well, it hasn't been a good thing for over a month now. Every time they show up on that Ask with a 10K share block- it's been making lower highs and lower lows and moving to the down side, usually sub one cent.
My 2 cents on the trading action.
http://www.otcmarkets.com/stock/BHRT/quote
Sub ONE CENT on high volume right out of the gate on a Tuesday after a 3 day weekend. Wow.
Heavy size on the Ask again this AM, so it's tilted to the sell side IMO. (Ask is well over 100K shares to only 10K on the bid)
BMAK sitting parked, one level off on Level II (maybe slid back one more level now), with the ole 10K share block. Looks like they're "capping" it perhaps again, at just around the 1 CENT area.
Looking very weak here IMO. All the "news" and "PR" and "conference call" and all the rest- so where's the buyers and big buying pressure to the upside? I mean all that good news and stuff can't overcome all that dilution share overhang and low priced shares maybe? Over 300 MILLION dilution shares in the past approx. 1 yr, and probably 50 MILLION diluted just recently- via comparing the proxy 8-K filing share count most recently to the last filed 10-Q which gave a share count covering to early Nov 2014. So just from early Nov 2014 to early Feb 2015 it showed a difference (increase of course) of about 50 MILLION more dilution shares O/S. That is heavy dilution IMO, for a approx. 3 month period.
Where's the buyers I guess? It's gonna take a lot of buying vol IMO to overcome all these low priced, convertible debt and "other" low priced dilution shares that have been continuously issued out, essentially non-stop, never ending. Dilution will still be going on even today IMO using the Magna "credit line" as BHRT doesn't have or generate anywhere near the cash to be self sustaining via reading their own SEC filed financial statements.
Sub ONE CENT again; that's how many trips below a penny since Jan 1st? It's a lot now. Tough sledding in here it looks like- these volumes have been very, very high to the downside. The trend is solid down and shows no sign of reversing or abating in here at this point IMO.
http://www.otcmarkets.com/stock/BHRT/quote
LOL, QUOTE, "Mike Tomas and Kristin are getting paid for current value and perceived value."
Uh, WHAT VALUE? The stock, on his watch, since mid 2010 when he took over as CEO has, the common shares have LOST about 98% of their value. From mid 2010 they were about .50 cents a share and today they are about ONE CENT a share- that's after nearly FIVE YEARS on his watch and command.
Since when is "hanging on" and barley surviving as a biz some sign of top flight, high quality mgt? I've never heard that one before, ever? The past 4 yrs approx- has been one of the greatest raging bull markets for not only the entire stock market, but bio-techs have been on fire, smoking the market and out performing. There has probably not been a better time for bio-techs in 50 yrs than in these past 4 yrs. A period in which BHRT has continually lost value, never attracted any non dilutive "big financing" as claimed and who's common stocks shares have hit their all, all, all time lows during that period- while also being massively diluted out to now past 600 million common shares at ONE CENT each. BHRT has performed 100% contrary to the rest of the bull market and 100% contrary to the bio-tech sector in general- not a sign of some imaginary "superior leadership" or "great mgt" IMO? Not seeing it? It's contrary to all normal measures of a Sr Mgt teams "measured performance" that I'm familiar with- what are known as "industry norms" for mgt performance metrics and measures of successful Sr mgt etc.
In the public traded markets- a BOD usually gives a CEO about 2, maybe 3 yrs max to show performance, to get a company growing and in financial health, turned around, etc Else, they usually get the boot. That's the way it works in the big leagues of the "C" level mgt world.
I've worked for public traded companies and seen "executive row" cleaned out more than once (CEO or President of the business unit and Veeps and director level all sent packing) - not cause they lost 98% of the common share value, but for maybe 1 yr they couldn't hit their PROFIT and GROSS MARGIN and other metric as set by the BOD and Corp central (these were very large, global operations with the Chairman perhaps in another state typically- and they'd CLEAN HOUSE cause after the biz unit missed their targets for 3 or 4 qtr's, the stock analysts would give the company poor reviews, the common shares would be down maybe 10% to their peers and the market and the large fund shareholders like mutual funds and pension funds etc would be screaming at the company that, "YOU BETTER START PERFORMING, SO GET SOMEONE IN THEIR THAT CAN GET IT DONE", and they'd clean house. Often even wielding the ax down into mid mgt ranks- just cut n slash and burn and reduces costs, whatever needed to get that division showing a strong profit and back to lean and mean and performing.
Steve Balmer fairly recently got sent packing as the CEO of Microsoft (No, he didn't "retire", he was canned)- despite MSFT being one of the most cash rich, financially strong companies in existence. BUT, they were not growing and they'd had a series of blunders that caused Apple and Google among others to be kicking their tale in everything from mobile to music to search to the younger crowd on mobile phone platforms, Windows new releases were viewed as dogs, etc- in other words, some punk kids called Google and a college punk named Zuk at Facebook- and cleaned the "tech giant's" clock in the raging bull market and MSFT had traded flat, seemingly forever stuck in the mid $20's per share and were treading water for yrs- and the big institutional holders had had enough. The BOD sent Balmer walking- they wanted fresh blood who'd perform- or they'll keep looking until they find what moves the stock price UP and market cap to increase and sales to grow, not causes it to DECLINE 98%. Just that simple in the big leagues of public traded firms.
5 yrs and the "performance" worthy of a supposed large cash bonus and a doubling of one's base salary is that the common shares (while being diluted out from maybe 30 million to now 600 MILLION) have lost nearly all their value- that's "performing" ?? In what imaginary world would that be? The common shares have been devastated under this mgt, the company has lived off of dilution and toxic debt, they've never completed a major FDA trial going back to the one's sat, parked since 2009 approx, they've never brought a major FDA approved product successfully to market as was claimed in the past would happen, and numerous other continual failures of "PR claims" versus nothing actualy happening as "claimed" (terms sheets, supposed partnerships, supposed "big financing deals" that never materialized, supposed trials being re-started has never happened, endless borrowing and use of toxic convertible debt and on and on and on)- and then MIRROR, the vanishing "new" PHASE 3, "FULLY FUNDED BY BIOHEART" trial that just never really happened. Like that, the crowning example IMO.
What supposed "performance" and "great talent" and blah, blah, blah as claimed in these other posts? Where? Since when was surviving, barely staying alive as a business while teetering on BK at any given time (see any SEC filing for the past 4 yrs and see their own Sr. Mgt and auditor warnings and statements of "GOING CONCERN RISKS") - since when is that a "successful" business where Sr. Mgt gets rewarded- cause you know, they managed to "hang on" for X number of years? Businesses are supposed to GROW and HIT METRICS and PERFORM and when public, RETURN VALUE TO SHAREHOLDERS- which has never happened at BHRT, ever.
From their last filed 10-Q, to show how "health" (actually lacking any health) they are as a business:
PAGE 12:
"NOTE 2 — GOING CONCERN MATTERS
The accompanying unaudited condensed 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 unaudited condensed financial statements, during nine months ended September 30, 2014, the Company incurred an operating loss of $1,247,199 and used $747,184 in cash for operating activities. As of September 30, 2014, the Company had a working capital deficit (current liabilities in excess of current assets) of approximately $10.0 million. 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."
"going concern WARNINGS" still, after nearly 5 yrs of this CEO running the company, in 100% total control. "going concern" warnings and "liquidity problems" are indicators from Mgt and the public traded firm's auditors- that the company is on life-support and teetering on insolvency, which then often leads to full BK and failure. THAT is the reality as given in their own words and warning in their duly filed SEC statements.
What "performance" that warrants large (as in doubling in only 2 yrs) base salary increases, plus large cash bonus awards plus large option grants (often instant vesting type) etc? What? Where is the "performance"?
I don't see it IMO. Not even close.
Let the picture of the share performance "tell the story" IMO. Here it is, and it pretty much says it all IMO.
Quote: "Thankfully they didn't go from 1.6M to 56K it was the other way around and from my perspective this is a ground floor opportunity"
Well, there expenses nearly doubled yr over yr and their loss from operations increased also. I guess that's something to be "thankful" for- since the "revenues" are being consumed by massively increasing expenses? I guess?
It's all there in living color- from their most recent filed 10-Q, PAGE 5 I believe that is.
Quote MYTH: "Maybe because he hasn't been paid since he took over and took the company to 1.6 + million dollars in revenues from 0?"
WHAT? He hasn't been paid? What myth is this based on? He's been getting raises and pay every year per their own SEC filings? What proof is there the CEO is not getting paid? He's not only getting his base salary- but large option block grants and years of cash bonuses, which then get issued as "promissory notes" so they can gain some interest and then they are paid at a later date as "related party notes owed" or whatever the term is in their SEC filings.
From their last filed 10-K, 100% shows that the CEO and CSO are being paid and paid well even as the common stock was hitting ALL TIME LOWS, being diluted out to RECORD DILUTION and use of toxic, floorless, convertible debt financing was reaching all time highs. The "general/admin" expense line has ballooned out as the ever rising massive salaries and bonuses (from a company with almost no cash at any given time, until they do a round of dilution each time)- that even despite their cash desperate position- 2 people kept getting paid ever increasing salaries and bonuses- huge percentage increases far exceeding any normal rate of raises or inflation or any other metric IMO, as in doubling of their base salaries, etc. All while the common shareholders have been wiped out with a 99.8% loss to the common shares- and approx a 98% loss to the common shares since this present CEO took over in mid 2010, a decline from approx. then .50 cents a share to now ONE CENT a share.
From the 10-K, PROOF of pay to the CEO and CSO (no MYTH he's not getting paid):
Note those massive increases- well, they only got bigger in 2014. For a company that's using the most toxic and dilutive kind of financing, and that just hacked out their R&D spending by more than $400K alone in the last yr (and much more than that over the past 2 yrs) cutting R&D to close to zero (less than $3K per month) and that just cancelled a much hyped MIRROR PHASE 3 TRIAL that was supposedly "fully funded by Bioheart" but for 1.5 yrs was "Waiting for funding" per their own SEC filings - they handed out these kinds of raises and bonuses shown in their SEC filing. Figure that one out? Where does any incoming cash go first? Just 2 people of a company who's same SEC filing said they had 4 "full time employees", just those 2 now consume $1,575,000 of the company's cash use per year. ALL WHILE KEY TRIALS IN THAT SAME SEC FILING SIT PARKED FOR "LACK OF FUNDING". Again, figure it out. Tells it all pretty much IMHO.
10-Q filing, latest, PAGE 23:
"Employment agreements
On July 28, 2014, the Company’s Board of Directors approved the 2014/2015 salary for Mike Tomas, Chief Executive Officer, at $525,000 per year, beginning July 1, 2014 with an incentive bonus ranging from $150,000 to $500,000. In addition, the Board of Directors will grant Mr. Tomas options to be determined on or before June 30, 2015. The Company’s Board of Directors approved a bonus of $500,000 and options to acquire 10,000,000 shares of the Company’s common stock for ten years with four year vesting and a cashless exercise provision at an exercise price equal to the five day average closing price of the Company’s common stock as of August 1, 2014. The cash bonus may be paid in the form of a six month promissory note.
On July 28, 2014, the Company’s Board of Directors approved the 2014/2015 salary for Kristin Comella, Chief Scientific Officer, at $250,000 per year, beginning July 1, 2014 with an incentive bonus ranging from $100,000 to $300,000. In addition, the Board of Directors will grant Ms. Comella options to be determined on or before June 30, 2015. The Company’s Board of Directors approved a bonus of $300,000 and options to acquire 5,000,000 shares of the Company’s common stock for ten years with four year vesting and a cashless exercise provision at an exercise price equal to the five day average closing price of the Company’s common stock as of August 1, 2014. The cash bonus may be paid in the form of a six month promissory note.
"
What's all the increases since 2012 based on? Performance such as ROI to shareholders, appreciation of the common stock, profitability? What? Or just that they can self-vote raises to the insiders as the BOD is small and really has no independent compensation committee that I'm aware of- and just like the recent proxy vote, the insider vote is 100% controlled via the combo of Northstar LLC shares (who are all insiders) and the remaining insiders shares. So they self vote and self approve everything related to this "public" company regardless of what the common shareholders think or care about. Just Northstar alone holds 25 to 1 voting rights on 20 MILLION preferred shares- that right there is 500 MILLION votes.
Why do they get paid what they do? Because they can, that's why IMO. It's pretty common on OTC nano-caps. Not unusual at all IMO.
OTC, It hasn't been on the NASDAQ since 2009, about 5 yrs ago now.
It was only on the NASDAQ for about 1 yr before being delisted to trade on the OTC market where it's lost over 99% of the value of the common stock.
The stock has diluted out to over 600 MILLION shares with 2 BILLION shares now authorized.
They supposed "had" a phase 3 trials called MIRROR, announced over 1.5 yrs ago and it never actually took place for all intents and purposes- and was abruptly announced as "cancelled" on Jan 25th, 2015 with no reason or details or explanation given. Huge PR about it, "one patient enrolled" then 1.5 yrs of "the MIRROR trial is awaiting funding" (see SEC filings) - it never progressed or even really happened, then just cancelled. Their other 2 key trials, MARVEL and REGEN have not progressed or moved forward since about 2009/2010 (see any recent 10-K or 10-Q SEC filing)
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
Great sounding PR right? Too bad IMO that nothing else ever actually happened after that. A "big phase 3"- but it never actually even took place, now did it?
They finished the last qtr with $46K total cash left, about $250K total assets and are relying on toxic, convertible debt, highly dilutive financing deals (floorless) with firms like Magna, Asher, Daniel James, KBM World Wide, Fourth Man, etc (see any recent 10-Q or 10-K filing)
Their IPO barely even raised any capital for them- it was a horrible IPO performance:
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/
http://www.biospace.com/News/bioheart-inc-receives-notice-of-delisting-from-the/128297
Notice the chart- it indicates about a 99.8% TOTAL LOSS to the common share value. From approx $5 a share in 2008, a rapid decline, then a continual decline and dilution to today's price of about ONE CENT w/ over 600 MILLION O/S shares.
"Unreasonable statement 40,000 will not call. Stockholders are owners of a company."
AND, for what these dude's spend on one junket "conference trip" they could at least hire a local high school IT kid to install some email auto-respond program. At least give a person the courtesy of a form letter email back that "we've received your inquiry but can not reply to it at this time, please refer to our blah, blah page for more info, signed Joe Blow head of Investor Relations".
I'd bet if I looked- I could find a free, open-source auto respond email module that works half way decent- they're probably a dime a dozen for every platform and computer system out there (Windows, Mac, Linux, whatever). Whoever hosts their corp website probably even offers it. I'll check their domain and see who's hosting it.
http://www.networksolutions.com/whois/results.jsp?domain=ocata.com
Looks like they're on Godaddy servers (which is what I suspected). I'd not be surprised if they even offer some email auto-responder package option or something. I haven't built any sites lately or used Godaddy in a long time- but I'd bet there's something there. It's Apache or something like that- that they run on their servers if I'm not mistaken. Gotta be a million email options offered I'd bet.
At least something. My freaking single physician doctor's practice will at least auto-reply me by phone and/or email- and still follow up with me later, despite having a ratio of 100's of patients to a staff of a few people.
It can be done- if a company gives a rat's behind. It's the giving a rat's behind part that's the operative part here. They don't reply- as they simply don't care. It's that simple. Else, don't waste people's time via "claiming" you have in IR (investor relations) department or person and plastering it on your corp website, etc. Just be upfront and say we don't give a RIP about you as shareholder so don't waste your time or our time trying to reach us- cause no one's gonna get back to you.
Honesty versus playing, "We have an IR dept" or whatever.
Quote, "Yes we definitely did on this board.
What the link in my previous post discusses is basically another company cannot replicate a product like Myocell unless they do it phase1-3 on their own yes all that $100 millions of dollars and years. Otherwise they have to wait those 4 year and twelve year intervals in order to use Myocell as a predicate.
PERIOD!!!!"
"we did"??? Well not me.
TOTAL BS.
Read any Bioheart 10-K SEC FILING and do a word count of the number of times the word PATENT appears then the words like "warning" or "vulnerable to competition" or "may never commercialize if we can not enforce patents" or "maintain and pay for key licenses" and similar.
BHRT DID NOT invent the technology- they LICENSE IT. READ THEIR SEC FILINGS. IF they do not pay for and maintain those licenses, let alone that the few patents they did have already expired, then what do they really have of any value?? WHY does every major pharma or tech company spend $BILLIONS to gain patents and then defend them to the ends of the earth? Why? What makes Amazon and Apple and Google 3 of the most valuable companies in the history of planet earth- THEIR PATENT PORTFOLIOS, that's what. Same for Merck, Pfizer, Baxter, Bayer, Bristol-Myers, Eli Lilly and Microsoft and on and on and on and on. MYTHOLOGY that patents to not matter. Pure myth. Every major pharma that's made a fortune on a "blockbuster drug" did so via PATENT PROTECTION and then publicly disclosed to the effects to their income and profits when a key drug was "coming off of patent" and going generic- some of the most successful drugs in history ALL SOLD $BILLIONS because of patent protections: Prozac, Lipitor, Humira, Plavix, Abilify, Seroquel, Singulair, Zocor, Zyprexa, Nexium the ole purple pill PATENT and on and on and on. $BILLIONS spent on those patents and thus making the companies behind the patents some of the most successful and profitable and mega companies in human history.
100's of words of Bioheart's own Sr Mgt speaking. I'm sticking with the opinion and words of Bioheart Sr. Mgt and THEIR CONCERN OVER THEIR ABILITY TO HAVE PATENTS, KEY LICENCES and what serious adverse affects may occur to their business if they can not enforce or maintain such patents.
PERIOD. What they say in their own SEC filings is all that one needs IMO. Other "theories" is just that, "theories" and made up conjecture.
Quote: "We've been over the patent discussion before:
1) exclusivity laws to protect the company per FDA
2) replicating a "process" for a biologic is different (as in more difficult or impossible) compared to a generic drug.
3) if it was a concern, why would an IPO be performed in 2008 knowing this MYOCELL patent expired in 20"
End quote.
I'm not familiar with any "discussions" as described above, but regardless-
Well, all except the part that NONE of that stated above is true, except the IPO part and that part probably explains why the share price post IPO is nearly STRAIGHT DOWN and then they were de-listed from the NASDAQ less than 1 yr after the IPO, and faded to penny status, ever declining since.
Lets just read their OWN SEC FILINGS, Sr, mgt's OWN WORDS on how important they think patents and are to the survival and potential ability to ever become profitable as a company (forgetting the fact that BHRT hasn't even "invented" anything original on their own, they only "license" it and as my prior post showed- ALL those licenses have "lapsed" meaning BHRT at this point doesn't even have the legal rights to pursue or use the underlying technology, which as stated, they DO NOT OWN and DID NOT INVENT- and they made that clear in their Jan 25th, 2015 PR, that to even attempt a trial "re-start" many steps involving licenses and "other" things need to first be put back in place, if the even "can" be put back in place, SEE SAFE HARBOR blah, blah, blah)
From Bioheart's own 10-K filings dispelling the MYTH that patents don't matter and "biologics blah, blah BS" and all the rest.
10-K FILING PAGE 17:
"Our commercial success will depend to a significant degree on our ability to:
•
compel the owners of the patents licensed to us to defend and enforce such patents, to the extent such patents may be applicable to our products and material to their commercialization;
•
obtain new patent and other proprietary protection for MyoCell and our other product candidates;
•
obtain and/or maintain appropriate licenses to patents, patent applications or other proprietary rights held by others with respect to our technology, both in the United States and other countries;
•
preserve Company trade secrets and other intellectual property rights relating to our product candidates; and
•
operate without infringing the patents and proprietary rights of third parties."
THAT is what Bioheart Sr Mgt thinks about their critical need for PATENTS. 100% in CONTRADICTION to "other theories" being stated. 100% TOTAL CONTRADICTION to any statement that "patents don't matter" blah, blah, blah.
SAME 10-K filing, PAGE 22:
"Many of our existing and potential competitors have substantially greater research and product development capabilities and financial, scientific, marketing and human resources than we do. As a result, these competitors may succeed in developing competing therapies earlier than we do; obtain patents that block or otherwise inhibit our ability to further develop and commercialize our product candidates; obtain approvals from the FDA or other regulatory agencies for products more rapidly than we do; or develop treatments or cures that are safer or more effective than those we propose to develop. These competitors may also devote greater resources to marketing or selling their products and may be better able to withstand price competition.
In addition, these competitors may introduce or adapt more quickly to new technologies or scientific advances, which could render our technologies obsolete, and may introduce products that make the continued development of our product candidates uneconomical. These competitors may also be more successful in negotiating third party licensing or collaborative arrangements and may be able to take advantage of acquisitions or other strategic opportunities more readily than we can."
Same 10-K filing PAGE 28:
" Northstar a lien on all patents, patent applications, trademarks, service marks, copyrights and intellectual property rights of any nature, as well as the results of all clinical trials, know-how for preparing Myblasts, old and new clinical data, existing approved trials, all right and title to Myoblasts, clinical trial protocols and other property rights. In addition, the Company granted Northstar a perpetual license on products as described for resale, relicensing and commercialization outside the United States. In connection with the granted license, Northstar shall pay the Company a royalty of up to 8% on revenues generated."
WHY is the first thing Northstar was given a "lien" on- PATENTS? Heck, PATENTS DON'T MATTER according to msg board "theory" - so why would ole Northstar want a LIEN ON PATENTS THAT DO NOT SUPPOSEDLY MATTER? WHY?
Same 10-K, PAGE 41:
"Our patents may not be valid or enforceable, and may be challenged by third parties.
We cannot assure you that any patents issued or licensed to us would be held valid by a court or administrative body or that we would be able to successfully enforce our patents against infringers, including our competitors. The issuance of a patent is not conclusive as to its validity or enforceability, and the validity and enforceability of a patent is susceptible to challenge on numerous legal grounds. Challenges raised in patent infringement litigation brought by or against us may result in determinations that patents that have been issued or licensed to us or any patents that may be issued to us or our licensors in the future are invalid, unenforceable or otherwise subject to limitations. In the event of any such determinations, third parties may be able to use the discoveries or technologies claimed in these patents without paying licensing fees or royalties to us, which could significantly diminish the value of our intellectual property and our competitive advantage. Even if our patents are held to be enforceable, others may be able to design around our patents or develop products similar to our products that are not within the scope of any of our patents.
In addition, enforcing the patents that have been licensed to us and any patents that may be issued to us in the future against third parties may require significant expenditures regardless of the outcome of such efforts. Our inability to enforce our patents against infringers and competitors may impair our ability to be competitive and could have a material adverse effect on our business.
If we are not able to protect and control unpatented trade secrets, know-how and other technological innovation, we may suffer competitive harm."
Gosh golly- that ole Bioheart SR MANAGEMENT SURE LIKES TO TALK ABOUT PATENTS in those ole pesky SEC FILINGS- seeing how according to "theories" by others, those ole patents supposedly JUST DO NOT MATTER? Well, the Sr. Mgt seems to think and 100% CLEARLY STATE OTHERWISE, 100% in CONTRADICTION TO ANY OTHER "theory" or "claim" about patents not mattering and "biologics blah, blah, blah" whatever.
STICK TO WHAT THE SEC FILED 10-K SAYS, that is the Sr. Mgt of the company speaking- loud and clear in their own words, and they have PATENTS plastered probably 100 times or more throughout that 10-K filing.
Here is independent commentary on the IPO being such a bust- and it specifically mentions that BHRT PATENTS were set to expire. Maybe the IPO was such a near total failure and the stock delisted and went to penny status so ultra rapidly for a reason? Maybe PATENTS (LACK OF) among other factors, maybe?
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/
http://venturebeat.com/2007/10/12/i-told-you-so-eat-your-bioheart-out/
Quote: "It was in the slide show and CC that they were going to focus on building current revenues up to 100Million to become self sufficient without anymore dilution. They said their in talks currently with 3 potential partners for MyoCell advancement."
1) "it was in a slide show or CC" or whatever. Fine. Great. Does one know how many times over the years that BRHT "has said" or "has claimed" that "they were going to do" something that never came true? Not kinda-sorta happened, but just never came true? There are reams of past quotes, PR's, statements, claims, etc of vast revenue "projections" of "imminent big financing deals" of "partners" or "partnerships" of "term sheets" being supposedly signed of vast, but vague (like now) "revenue projections" etc. Oh and of "building shareholder value" and "using less dilution" and "trials to be re-started" or "a new PHASE 3 trial starting" all while the common stock shares just hit near it's all time low again, and massive dilution has occurred, unabated at as furious a pace as anytime in company's history- a doubling of O/S shares in the past approx 1 yr (approx 300 million to now 600 million) and a self-passed vote to in increase A/S to 2 BILLION (see the SEC filings)
2) To claim a ramp to "$100 million" in revenue is laughable IMO, when they do not even provide a detailed road map, a very specific plan of how to even get to say $10 million in revenue, let alone how they're going to contain costs/expenses which is a problem per their own financials right now, let alone get cash-flow positive, let alone how they'd ever stop diluting, when they just inked a Magna $3 million "credit line" facility- which is 100% pure dilutive, and gets more dilutive the lower the share price goes like now and they said they plan to use all of it in their own wording, and they also just made use of a $200K Magna "note" at horrific dilutive terms, just recently, just prior to signing the Magna credit line and publishing the required share offering (dilution) prospectus.
3) Myocell and Myocell SDF-1 (whatever it's called) per their own SEC filings is not even under patent anymore and/or all the key licenses related to them have "lapsed" - that's the wording of their OWN SEC filings. Who's gonna wanna "partner" for Myocell or SDF-1 when they're not even owned or exclusive to BHRT? Why would anyone partner on them? How do they even make money on Myocell in the future if it's not even exclusive or owned by Bioheart, let alone how or "if" they can even pay for and get back key licenses needed to even pursue Myocell or SDF-1? Remember MIRROR, the phase 3 trial? How'd that one work out?
Bioheart's statements IMO as usual are vast, vague and full of "ifs" and "maybes" and "we think" and "we hope too" etc and then SEE SAFE HARBOR DISCLAIMER as usual.
All these vast claims and "projections" are nothing new IMO- as stated, there is a history of ones just like them one can find going clear back to 2007 or 2008 and they all sound alike IMO, but never actually materialized or essentially never amounted to anything like their intial "claims" and vast, vague "plans".
From the "big plan PR" of Jan 25, 2015:
"Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "will", "to", "plan", "expect", "believe", "anticipate", "intend", "could", "would", "estimate", or "continue", or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2013, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2014."
OK, so what does the ole 10-K actually say? Oh, say regarding Myocell and Myocell SDF-1 for example or say their "products/treatments/therapies" they appear to be now "selling"?
From their own SEC filing 10-K, in Sr Mgt's own words:
PAGE 14:
"Our MyoCell SDF-1 product candidate, which has completed preclinical testing, is intended to be an improvement to MyoCell. In February 2006, we signed a patent licensing agreement with the Cleveland Clinic of Cleveland, Ohio which gave us exclusive license rights to pending patent applications in connection with MyoCell SDF-1. Dr. Marc Penn, the Medical Director of the Cardiac Intensive Care Unit at the Cleveland Clinic and a staff cardiologist in the Departments of Cardiovascular Medicine and Cell Biology, joined our Scientific Advisory Board. The license for SDF-1 was expired and was turned over to a Cleveland Clinic affiliate, Juventas, in July of 2009. We have an oral, non-binding understanding with Juventas pursuant to which the license with Bioheart will be reinstated upon completion of certain financial milestones. Without an agreement from Juventas, we may not be able to commercialize our MyoCell SDF-1 product following regulatory approval. We believe we will also need to, among other things, license some additional intellectual property to commercialize MyoCell SDF-1 in the form we believe may prove to be the most safe and/or effective."
PAGE 17:
"To develop our MyoCell SDF-1 product candidate, we have relied primarily on certain patents which we had previously licensed but with respect to which our license has lapsed. These patents relate to methods of repairing damaged heart tissue by transplanting myoblasts that express SDF-1 and other therapeutic proteins capable of recruiting other stem cells within a patient’s own body to the cell transplant area. We believe we will also need to, among other things, license some additional intellectual property to commercialize MyoCell SDF-1 in the form we believe may prove to be the most safe and/or effective.
"
PAGE 40:
"We hold limited patent and other intellectual property rights, and our success will be dependent in large part on safeguarding our existing intellectual property rights and obtaining patent and other proprietary protection for our product candidates.
We hold limited patent rights in our product candidates. Our MyoCath product candidate is protected by a patent, expiring in September 2017, in which we have an irrevocable co-exclusive license. Our MyoCell product candidate is no longer protected by patents, which means that competitors will be free to sell products that incorporate the same or similar technologies that are used in MyoCell without infringing our patent rights. As a result, MyoCell, if approved for use, may be vulnerable to competition in the form of products that use the same or similar technologies. We have previously licensed certain patents and patent applications relating to our MyoCell product candidate. These licenses have all lapsed as of the date of this report, although we have had discussions with the relevant licensor regarding a potential reinstatement of our rights in such licenses."
PAGE 39:
"We do not currently have product liability insurance because none of our product candidates has yet been approved for commercialization. While we plan to seek product liability insurance coverage if any of our product candidates are sold commercially, we cannot assure you that we will be able to obtain product liability insurance on commercially acceptable terms, if at all, or that we will be able to maintain such insurance at a reasonable cost or in sufficient amounts to protect against potential losses.
Claims may be made by consumers, healthcare providers, third party strategic collaborators or others selling our products if one of our products or product candidates causes, or appears to have caused, an injury. We may be subject to claims against us even if an alleged injury is due to the actions of others. For example, we rely on the expertise of physicians, nurses and other associated medical personnel to perform the medical procedures and processes related to our product candidates. If these medical personnel are not properly trained or are negligent in using our product candidates, the therapeutic effect of our product candidates may be diminished or the patient may suffer injury, which may subject us to liability. In addition, an injury resulting from the activities of our suppliers may serve as a basis for a claim against us.
We do not intend to promote, or to in any way support or encourage the promotion of, our product candidates for off-label or otherwise unapproved uses. However, if our product candidates are approved by the FDA or similar foreign regulatory authorities, we cannot prevent a physician from using them for any off-label applications. If injury to a patient results from such an inappropriate use, we may become involved in a product liability suit, which will likely be expensive to defend.
These liabilities could prevent or interfere with our clinical efforts, product development efforts and any subsequent product commercialization efforts, all of which could have a material adverse effect on our business."
Some past "claims" of imminent "partners" or "big financing" or "revenues", etc (there's many, many, many more):
http://finance.yahoo.com/news/northstar-launches-20-million-private-113119817.html
http://www.marketwired.com/press-release/bioheart-receives-2-million-term-sheet-investment-offer-from-vitalmex-global-leader-otcbb-bhrt-1686526.htm
http://globenewswire.com/news-release/2009/05/07/397137/164884/en/Bioheart-Reports-Year-End-2008-Results-Reviews-2008-and-1Q09-Progress-and-2009-Business-Objectives.html?print=1
(that one, "claimed" a $22 MILLION "run rate" for some "product" that in the end- never even sold as far as I know. But now $100 million is a slam dunk I guess? OK, sounds good to me. Couldn't get to $22 million in "revenues" from 2008/2009 today, when they actually had some cash and staff and whatnot back then, but now $100 million is going to happen with essentially 4 or 5 people as their staff and little to no cash at any given time? Again, sounds good to me I guess?)
http://globenewswire.com/news-release/2011/01/24/438265/211616/en/Bioheart-Raises-4-Million-to-Advance-Clinical-Trials.html?print=1
(That was a supposed $4 million "financing deal", it also fell apart like so many of the others. Never ended up happening- it involved a "partner" from South Korea. Never amounted to anything as far as I know from reading any later SEC filings)
http://www.bizjournals.com/southflorida/news/2012/02/14/bioheart-buys-stem-cell-license-from.html
(That was a great sounding PR about a licence with "Ageless" who's now suing BHRT's BOD member Comella in regards to something related to that deal apparently. The PR said "plans to expand" into the U.S and "terms of the deal not disclosed" of course. We know that it's now in a lawsuit in Broward County court involving Ageless, the license owner M.D. and Comella of Bioheart as defendant- just Google it, it's all there)
http://globenewswire.com/news-release/2012/03/22/471364/249904/en/Bioheart-Labs-and-Stemlogix-Veterinary-Products-Featured-in-Media.html
(that one used the "entered into an agreement" phrasing- that's another common term BHRT IMO, I find it in many BHRT PR or filings. Entering into "agreements" but then no details ever given, explained, later heard about etc IMO)
http://www.marketwired.com/press-release/bioheart-partnership-with-stemlogix-leads-first-us-combination-regenerative-medicine-1733056.htm
(The ole Stemlogix "partnership" or "agreement"- what did that one ever amount to? I don't know? I know that Stemlogix is in some court case in Broward county as plaintiff and naming Comella a BOD member of BHRT as defendant- it's all public, shows right up on Google)
https://www.clerk-17th-flcourts.org/Clerkwebsite/BCCOC2/OdysseyPA/CaseSummary.aspx?CaseID=7155410&hidSearchType=party_case&DisplayCitation=no&CaseNumber=CACE13024037&SearchType=
Remember the "South Africa PR" and "partnership" and "new facility" and all? It sounded great in the PR- even a "grand opening". All until the ole SEC filing came out AFTERWARD and said "no legal entity or agreement even existed and no material event therefor took place" (paraphrasing). That was a good one too IMO.
http://www.marketwired.com/press-release/bioheart-announces-joint-venture-in-south-africa-otcbb-bhrt-1923668.htm
http://finance.yahoo.com/news/bioheart-announces-grand-opening-facility-120000841.html
Sounded GREAT, HUGE- I mean MILLIONS of "patients" to be "treated" in South Africa with Bioheart "therapies" and "working with the South Africa Govt" , WOW, bammo- amazing. Well, here was the SEC 10-Q filing that came afterward:
SEC 10-Q, latest filing, PAGE 23:
"Joint Venture
We announced a joint venture in South Africa and the facilities called “South African Stem Cell Institute” were successfully opened in September, 2014 with the intention to retain a 49% ownership of the new entity. As of September 31, 2014, however, there was no formal legal entity established and no formal operating agreement for this joint venture. In additional the Company has not yet incurred any material expenses associated with this venture. Management has concluded that as of September 31, 2014 this announcement is not material to the Company’s financial statements.
"With the intention"? What? The PR said IT HAPPENED, not was an "intention"?? What, ah shucks, you mean South Africa was never even a "legal deal with no signed biz contracts" and all and thus never a "material event" and blah, blah, blah? How can that be- when compared to those grand sounding PR statements? How?
http://biz.yahoo.com/e/090113/bhrt.pk8-k.html
(That's an interesting one IMO. As one of the then BOD members resigned over "disagreements" over the company's proper compliance and filings as a public company)
Quote from 8-K:
"On January 7, 2009, David J. Gury, a member of the Company's Board of Directors, notified the Company of his intention to resign from the Board of Directors effective immediately. Mr. Gury was Chairman of the Audit Committee of the Board. Mr. Gury indicated upon his resignation, that he disagreed with Howard J. Leonhardt, the Company's Chairman and Chief Executive Officer, regarding the requirements of a public reporting company to meet its regulatory requirements. Alan P. Timmins, a member of the Company's Board and a member of the Audit Committee of the Board has been appointed to serve as Chairman of the Audit Committee of the Board. In addition, Peggy A. Farley, a member of the Company's Board, has been appointed to serve as a member of the Audit Committee of the Board. The Company has commenced a search for a new member for the Board who will qualify as "independent"
Notice how none of those BOD members/Sr Mgt members are even with the company anymore? Why so many mass departures of nearly all staff, almost all original BOD and other Sr. Mgt members? Not very stable IMO? The company was delisted from the NASDAQ shortly after that date of that BOD member resigning.
http://www.prnewswire.com/news-releases/bioheart-announces-cell-therapies-program-in-the-middle-east-for-congestive-heart-failure-and-peripheral-arterial-disease-patients-95110334.html
(How bout that one, Bioheart had "big plans" and vast claims (vague as usual) in the "Middle East" clear back when Groth was CEO. But what ever happened to all that? Sounded real good in the PR- but what did it ever amount to? Where was all the income and future "revenues" from those "deals" and all? Where did it all go- never again mentioned in future SEC filings, etc? BHRT released "PR" again later- about more "Middle East" stuff and "new" happenings, but where did the Groth "deals" ever go, or what did they ever amount to in later SEC filings?)
Here's a quote from that "great sounding" Middle East PR- even a "manufacturing facility" in Jordan was planned- WOW, bang-bing-boom. Fantastic. All except- it appears to have never happened? Oops?
Quote:
"Peggy Farley added: "The facilities and physicians in Jordan and Turkey are comparable to the best facilities and physicians in the United States. Once we introduce Bioheart's therapies into the Centers, patients with cardiac issues and limb ischemia will be able to access treatments that we have seen resolve those problems." Mentioning Bioheart's future plans, she went on to say: "Bioheart has plans for establishing a cell manufacturing facility in Jordan as well. Once there are a sufficient number of cases that are treated at our Middle East Centers of Excellence, it makes sense to have a second manufacturing site. Jordan's capabilities in laboratory medicine and its research into gene and cell solutions for medical problems are superb—superior to most in the world."
Sound familiar? It does to me, IMO. But hey, maybe that's just me?
The list is long, very long of "PR" and "blogs" and "talks" and "statements" all that sounded great and showed vast "plans" and "intentions" etc.
I'll wait and see personally. $100 million? Really? All I see so far is qty-3 new websites with a few pages each full of some stock-template, generic "medical looking" web pages and "stock" medical looking photos; websites that a high school kid could probably build and make "live" over a 3 day weekend. And all the domains to those qty-3 "new" 3 websites aka "business units" (I guess that's what they're now being called?) were all just registered very recently- so I don't see how they're now "business" segments or "sub companies" just all of the sudden- especially ones that are going to suddenly have "revenues" that shoot from near zero to $100 million very quickly or whatever?
Makes no sense to me personally- just not seeing it. My 2 cents. I'll wait and see- just like 1.5 plus yrs of waiting to see MIRROR the BHRT FUNDED PHASE 3 TRIAL, which we now know for all intents and purposes just never seemed to have happened and just "vanished" per a one-liner in a Jan 25th, 2015 PR, with no further explanation given or apparently to be given or even needed. A phase 3 trial that just never was, never occurred and never was "fully funded" by Bioheart it seems is the case, per their own documents.
Quote: "I believe shareholders are in consensus with the R/D spending being reduced temporarily. Shareholders want ROI and it appears the company is delivering on thispromise in my opinion."
What? They just pitched a Power Point slide show with grand "claims" (remember MIRROR , the ole PHASE 3 trial, FULLY FUNDED BY BIOHEART per the big hype PR about 1.5 yrs ago, all except for the pesky little part that it NEVER HAPPENED, remember that one?), well- they, BHRT just pitched a slide show presentation in which they "claim" they're now going to re-start (supposedly) the 5 yr old MARVEL trial now and then even do another trial for SDF-1 or whatever.
So, uh- I'd say the "shareholders" were just told that a big ole phase 3, EXPENSIVE phase 3, FDA quality trial (one that went dormant and in the parking space) in about 2009, is now going to be funded and start up again. THAT is done via R&D expense line entries, big ones. There's no FDA phase 3 trial that's gonna be run on less than $3K a month? It's impossible.
So where is this imaginary "consensus" of the shareholders that hacking R&D to near zero is all good and fine? Are they even a "medical heart research and development" company anymore? I can't even figure that out anymore?
So what's gonna pay for this supposed "new" phase 3 trial re-start, when MIRROR never got funded as claimed, for 1.5 yrs- right up until even the last 10-Q filing.
Last 10-Q filing, PAGE 29:
"We are seeking to secure sufficient funds to reinitiate enrollment in the MARVEL and REGEN trials. If we successfully secure such funds, we intend to re-engage a contract research organization, or CRO, investigators and certain suppliers to advance such trials. We have initiated and enrolled our first patient in the MIRROR trial in 2013. The trial is very similar to the MARVEL trial but focusses on sites outside the US. We will continue enrollment in the MIRROR trial once we have secured sufficient funds.
We have completed the Phase 1 Angel Trial for AdipoCell (adipose derived stem cells). Five patients were enrolled and treated in the second quarter of 2013. At the twelve (12) month time point, patients demonstrated a statistically significant average improvement in ejection fraction (EF) by echocardiogram."
As of the Jan 25th, 2015 "PR", ole MIRROR and ANGEL are now gone, vanished, finished- no further explanation given.
So if MIRROR never got funded (and they obviously never had the cash to do it, that's clear from their SEC filings) - then why now are they supposedly going to have the cash supposedly to fund large trials? Where's that going to come from? Why was MIRROR cancelled and never funded as claimed?
Makes no sense to me. Not buying the "everyone agrees hacking R&D out to near zero" is some consensus blah, blah. All that did was help the PR sound better IMO, to be able to claim they've cut cash use- when in reality, anyone can cut cash if they don't spend on the very thing that is the backbone of the company they "claim" to be- a medical research and development firm supposedly who runs medical trials. MIRROR, that tells all IMO.
Quote: "Well they had 500% revenue increase so maybe PPS could happen too?"
Well, they also had enormous increases in EXPENSES (and large cost of sales, their gross margin last qtr was like 10% or something, extremely low) that off-set the "revenue" increase, meaning the "top-line" revenues never made it to the bottom line.
Their operational loss in 2014 is larger than in 2013 and that's despite hacking over $400K out of the R&D budget (aka expenses)- it went to salaries, bonuses and "other" on the "marketing, general, ADMIN" expense line. It's right there in the SEC filings- last 10-Q. Top line "revenues" do not equal positive cash flows or profit. Two totally different animals.
From the last filed 10-Q:
Right there- in living color, from their own 10-Q. The numbers "tell the story" as it really is.
LOL, Quote, "How about $5"
The stock closed on Friday BARELY above ONE CENT on very high volume.
It's spent a good part of the past 2 months under ONE CENT on higher than normal volumes and with a recent low of .007 aka 7/10ths of ONE CENT.
And that's despite a recent barrage of PR and "blogs" and talk of "revenues" and a conference call and all the rest- it's making near all time lows and lower highs and lower lows.
FIVE DOLLARS? 500X increase in price? Based on what? The company just did two convertible toxic debt (floorless, dilutive) financing deals for $25K and $38K each- a pittance of survival cash. They finished last qtr with a grand total of $46K cash against huge immediately due debts such as accounts payable and now owing over $800K in just "cash bonuses" to just 2 people of a 4 person total company.
What is possibly going to make this a $5 stock?? In what fantasy world?
From the most recent filed 10-Q, PAGE 26:
"Subsequent financing
KBM Worldwide
On October 6, 2014, the Company entered into a Securities Purchase Agreement with KBM Worldwide, Inc., 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 July 8, 2015,. The Note is convertible into common stock, at holder’s option, at a 45% discount to the lowest daily 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 and accrued interest at 150%, and any other amounts.
Daniel James Management
On October 3, 2014, the Company entered into a Securities Purchase Agreement with Daniel James Management, Inc., for the sale of a 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 October 2, 2015. The Note is convertible into common stock, at holder’s option, at a 47% discount to the lowest daily 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 and accrued interest at 150%, and any other amounts."
Same 10-Q filing PAGE 12:
"NOTE 2 — GOING CONCERN MATTERS
The accompanying unaudited condensed 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 unaudited condensed financial statements, during nine months ended September 30, 2014, the Company incurred an operating loss of $1,247,199 and used $747,184 in cash for operating activities. As of September 30, 2014, the Company had a working capital deficit (current liabilities in excess of current assets) of approximately $10.0 million. 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."
$5 dollars a share, an increase of 500X?? I don't see it as a remote, distant possibility. This stock hasn't seen $5 a share since it's IPO in 2008 when they actually had some cash, a bunch more employees and actual FDA trials taking place, etc. It rapidly dropped though from $5 a share, never holding that price even in 2008, then was de-listed from the NASDAQ in 2009 and has been on the OTC ever since and has lost about 99% of the common share's value, all while diluting out the common shares from maybe 20 MILLION or so to now over 600 MILLION shares and climbing.
http://www.bizjournals.com/southflorida/stories/2008/10/20/daily14.html
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBNETYMPJCg4
$5 a share now? Pipe dream land IMO.
Quote: "From Dr. Ron:
Quote: "Ocata is in the best shape its ever been--nearing phase 2 in retina,successful vet trials which will lead to vet revenues and numerous INDs,blood soon to partner,within a year RPE JV likely,best management team it has had, science as great as ever.photoreceptor IND likely in 2015.""
One could change "Dr. Ron" to GARY RABIN and change the yr 2015 to a few years ago, or 5 yrs ago or whatever, and it could be a near verbatim quote from GARY RABIN said who knows how many times over the years.
OCAT (ACTC) is supposedly always in the "best shape it's ever been" blah, blah, blah for 10 freaking years now. Since when is this a "new" statement or claim be muttered by some insider?
Like a broken record. Funny how it always just seems to be a little ways off, right around that next bend in the yellow brick road.
"Any of those increase revenues by 500% ??
I don't know, look um all up- there's 150 of them.
Any of them taking larger losses from operations in 2014 than in 2013 because of a massive rise in expenses like BHRT is this yr, all while they've cut their R&D budget to near zero??
I don't know?
"revenues" at BHRT have been outpaced by expense growth- just read the latest 10-Q on file. BHRT is not anywhere close to being cash flow positive or cash self sustaining, let alone having so much as one DIME of cash reserves or banked cash. BHRT took a larger loss from operations to date in 2014, yr over yr, than 2013.
Top line "revenues" are not what makes a company. Companies live and/or die based on CASH FLOW and PROFITS. Radio Shack just went full up BK and was listed on the NYSE. Their "revenues" (top line) were about $3.35 BILLION annual for their most recent yr. What difference did "revenues" make when expenses couldn't be controlled??
Nortel, Canada's once largest tech and telcom high tech equipment company went full up BK and vanished- broken up and sold off. Nortel had top line "revenues" of $10.42 BILLION dollars in 2008, shortly before filing for BK. They lost several $BILLION that yr on those $10 plus BILLION in "revenues" as "revenues" do NOT = cash flows or profits.
BHRT has "revenues" but is producing only LOSSES. Simple as that. It's in their last 10-Q SEC filing. If not for dilution financing, and endless amounts of it- BHRT would have been BK a long, long time ago. It's just that simple. Selling dilution shares is the only thing keeping them afloat- and the lower the share price goes like right now, the harder and harder it gets to raise even small amounts of cash.
Just the reality of their situation. Again, ALL in the SEC filings.
Quote: "Oh perfect compare to already established biotech companies they have complete control of the market."
Bioheart is not "already established"?? What? They, BHRT, have been in business since 1999 and a public traded company since 2008. FAR longer than many of the biotech companies in that NBI NASDAQ biotech index, that's for sure. BHRT is not "established"?? Really?
That NASDAQ biotech index is made up of everything from recent IPO biotechs to small size to mid size to large- and everything in between. It contains 150 companies in the index. Some stocks trade for as little as a $2 a share and some for $100's a share. Some are very recent IPO companies, some are long established biotechs. That's the whole point of using an "index" as a good gauge of an industry sector.
http://finance.yahoo.com/q/cp?s=%5ENBI+Components
That's why it's an "index" - it's an extremely broad cross sections of all facets of the "biotech company" sector. It's one of the best ways to measure the overall strength or weakness of "biotechs" in general- and as it CLEARLY shows, there has not been a much better market timing for biotechs (in probably the last 50 yrs at least) than this past 4 yrs or so.
Simple as that.
Quote: "Well of course starting biotech companies are going to have a significantly more negative impact from the overall market"
Total nonsense. There's no proof or market research data to support that claim?
There are numerous, numerous biotech companies that have enormously successful IPO's and then go on to outperform the market averages- it happens all the time in the Biotech sector.
The RED line is the NASDAQ biotech index (a composite of biotech companies) and it's been ON FIRE and far outperformed the general NASDAQ index in shown as the BLUE line on the chart. And the GREENISH line sinking to OBLIVION at the bottom of the chart, barely visible as it's SUNK SO LOW- is BHRT, 100% DIVERGENT in the opposite direction of how Biotechs have performed for the past 4 plus yrs. FACTS.
Notice the right hand numbers on the chart inside the little colored "flag markers": The Biotech index is UP 320%, the NASDAQ UP 100% and BHRT is shown as LOSING 99.80% of it's value. CLEAR as day.
LOL, "Also that chart you posted looks very familiar to the DOW around the same time. Well times have changed and the economy is coming back if you haven't noticed. "
Uh, the DOW lost 90% of it's value or more? Really? When did that happen??
People are just now "starting to invest again as the economy is coming back or whatever"??
Um, we just passed through probably the GREATEST BULL MARKET IN WORLD HISTORY for about 4 years straight now. One of the most successful times for stocks in all of stock market history- and a period in which BHRT, if one looks at the chart, LOST 98% or more of its value, as the DOW and every other market metric (NASDAQ, Russell, small cap indices, etc have all reached all time highs or near all time highs)
Not sure what charts are being looked at - but the chart of BHRT looks NOTHING like that of the DOW or any other part of the general stock market- not even close.
This is an overlay of the DOW versus BHRT since the IPO period- total divergent for the most part. BHRT is in RED and the DOW is in BLUE.
"2008 BHRT worth $5 PPS on NASDAQ!"
$5 is the price per share, not the "worth" of the company, commonly known as the "market cap" or "market capitalization". They didn't sell every last share they had in the IPO. Insiders and original private investors held a lot of the shares as insiders.
These two article explain in detail how poorly the Bioheart IPO went and estimated that after the IPO the company was "valued" at about $70 million. Remember, the price then rapidly declined to about $1 a share within 1 yr and they were de-listed from the NASDAQ almost 1 yr later exactly, in 2009. (And that's when all the present, major, FDA quality trials ground to a halt and have never progressed or moved forward since: MARVEL and REGEN, see any 10-K filing or similar)
So, by the time the price dropped to $1 a share in 2009, that's 20% of the original $70 million market value estimate or about a $14 million market cap then. And by then they start diluting shares as they're already in deep financial trouble, and that would explain IMO why the market cap still held up at around $13 million or so by the time Tomas took over as CEO in mid 2010, because of big dilution already starting to happen.
The market cap has massively declined since the IPO, as has the common share price- that much is crystal clear IMO. I don't see anything confusing about it in the slightest?
http://venturebeat.com/2007/10/12/i-told-you-so-eat-your-bioheart-out/
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/
http://www.globenewswire.com/news-release/2008/11/20/388801/155151/en/Bioheart-Inc-Reports-Receipt-of-Notice-of-Delisting-From-The-NASDAQ-Capital-Market.html
From one of their first SEC filed 10-Q's filed after going public, the IPO:
http://www.sec.gov/Archives/edgar/data/1388319/000095014408002360/g12066e10vk.htm
PAGE 1, 10-Q:
"On June 30, 2007, the last business day of the registrant’s most recently completed second fiscal quarter, the registrant’s common equity was not listed on any exchange or quoted on any over-the-counter market. Our common stock began trading on the NASDAQ Global Market on February 19, 2008. As of March 17, 2008, the aggregate market value of the registrant’s common stock, $0.001 par value, held by non-affiliates, computed by reference to the closing sale price of the common stock reported on the NASDAQ Global Market as of March 17 2008, was approximately $37.3 million."
Quote: "How much was BHRT's market cap when it went IPO? Same position today but better revenues in my opinion."
NO, actually the market cap has collapsed a great deal- and that's despite a massive, massive increase in dilution shares (which is propping the market cap up artificially higher in effect)
Just look at the period from when Tomas took over as CEO, about mid 2010.
http://www.prnewswire.com/news-releases/bioheart-announces-mike-tomas-appointed-ceo-97013034.html
The share price on that day, June 23, 2010 was .50 cents, from a Yahoo historical pricing table format.
So June 23, 2010 Tomas takes over full control as CEO at .50 cents a share (just pull up a historic chart).
How many shares were outstanding around June 2010? Gotta look at a SEC filing.
BHRT 10-Q filed on 8-20-2010 (closest period to Tomas taking over as CEO). It covered the period to June 30th, 2010.
http://www.sec.gov/Archives/edgar/data/1388319/000114544310001874/d27097.htm
From that 10-Q, PAGE 1:
"As of June 30, 2010 there were 27,327,705 outstanding shares of the registrant’s common stock, par value $0.001 per share."
At a share price of .50 cents a share, that equals a market cap in mid 2010 of:
.50 X 27,327,705 = $13.6 MILLION dollars market cap, June of 2010.
As of Friday, per Google finance- the BHRT market cap was $5.96 MILLION dollars.
That's a market cap decline since Tomas took over of more than 50%. On the recent dips below 1 CENT the loss to market cap and market cap decline have been even more dramatic.
There has been a steady decline in market cap- even as the shares have been massively diluted from then 27 million shares in mid 2010, to now over 600 MILLION shares in Feb of 2015. W/O all those dilution shares being absorbed into the market (causing the price to decline) the market cap would be even lower.
BHRT's market cap is less today than years ago, the IPO period to mid 2010 and Tomas becoming CEO and their financial position IMO is as weak as it's ever been- given the cash of $46K on the last 10-Q filing against just their current debt and numerous loans owed, the "thing" called Northstar now existing and holding "lien" to essentially everything BHRT can/does or could own, and the going concern warnings and all the other realities.
My 2 cents
LOL, "$5-20 billion dollar company within 5-10 years IMO. Not out of reason"
Beyond pie in the sky. The company is nearly broke at any given time per their own SEC filings, is debt laden and has 4 "full time" employees. They finished the last qtr with a "going concern" and "liquidity" warning in their 10-Q filing and were using convertible debt, the most desperation and dilutive financing available in micro increments of just $25K as recent as Oct 2014 just to keep the lights on.
$BILLIONS is laughable and completely beyond any reason. 1 CENT stocks rarely if ever even recover and survive, let alone ever reach even $millions in sustainable revenues or micro profits. BHRT is not even remotely close at this point to even being cash flow positive, let alone fully profitable or debt free and having any cash reserves or growth money.
The number of companies that ever reach even $1 BILLION in annual sales- is the ultra stratosphere of the public and private markets. Some companies, household names have existed for 100 yrs before ever reaching $1 billion in annual sales. I've worked for 40 yr old businesses, huge public traded companies with very valuable, highly rated and reviewed stock and ROI and good P/E ratios and paying dividends and highly, highly profitable and throwing off cash each qtr and they struggle to reach and maintain maybe $200 or $300 million in annual sales and have 500 to 1000 employees or more and numerous facilities w/ tremendous assets, etc. BHRT has $250K or so in total assets right now- for all intents and purposes they own nothing.
Example: Corning Corp who makes all the world's sophisticated glass or owns the patents and licensing rights to it (gorilla glass on all Apple products, flat screen TV tech, aircraft, space vehicles, to Pyrex cookware and lab glass, etc) has $9.72 BILLION in annual sales. That company has been in business since 1851 and has facilities all over the planet- an entire section of NY is a "Corning city/town". They have over 30 THOUSAND worldwide employees and $6 BILLION in cash with only $3 BILLION approx in debt. It took them from 1851 to today- to hit $10 BILLION in annual revenue- and they have labs and R&D facilities all over this planet and make the most sophisticated glass products for everything from military to aerospace to medical to high tech, etc. THAT is what a $10 BILLION dollar business looks like.
It's LAUGHABLE to even "try" and project out that BHRT is somehow going to hit $5 to $10 BILLION in annual revenues- completely laughable IMO. Impossible Vegas or past Lotoo odds IMO.
The idea they could reach even $100 million in annual sales in even 5 yrs is pipe dreaming land IMO. Complete hyperbole.
LOL, a PAID PENNY PROMOTION???
Quote, ""BHRT is the Right Company Right Now in the Medical Market" "
By smallcapvoice, a pay to promote penny promotion firm. Bioheart paid them $5K for one month of "promotion" service per that sites own legal disclaimer. Gee, I wonder who wrote the actual "analysis", like maybe BHRT itself, just maybe?
$5K to a penny promotion firm for "one month's worth of service" and that's more than BHRT is spending per month on R&D, which pretty much tells all IMO. As of last 10-Q SEC filing, BHRT spent less than $3K a month on R&D, but will barf up $5K a month to a penny hype firm? Wow !!
Here's the smallcapvoice disclaimer, pretty much tells all IMO:
http://www.smallcapvoice.com/disclaimer.html
Quote:
"IMPORTANT DISCLAIMER
PLEASE READ THOROUGHLY
The SmallCapVoice.com, Inc. SC Daily is an electronic publication, and is for informational purposes only. The SCDaily covers both client and non client issuers. Non client issuer's news is listed under other small cap news. SmallCapVoice is an electronic publication providing information on selected public companies. All companies profiled on this website pay cash, unrestricted stock or restricted stock to SmallCapVoice as consideration for the electronic dissemination of the company’s information and our comments about the company. Section 17(b) of the Securities Act of 1933 requires that SmallCapVoice fully disclose the type consideration (i.e. cash, unrestricted stock, restricted stock, and restricted stock with registration rights, stock options, stock warrants, or other type consideration) and the specific amount of the consideration our company receives or will receive, directly or indirectly, from an issuer, underwriter, or dealer. No information contained in our website, e-mail communications or our publications should be considered as a solicitation to purchase or sell the securities of the profiled companies. SmallCapVoice is not a registered investment advisor or a registered securities broker dealer. We do not undertake or represent to make investment recommendations or to give advice pertaining to the purchase or sale of the securities mentioned in our web site, e-mail communications or publications. The information contained in our website, e-mail communications and publications are carefully compiled by SmallCapVoice from public sources that we believe to be reliable. SmallCapVoice, however, does not guarantee the accuracy of any information contained in our website, e-mail communications or publications. This material is not a substitute for either one's own thorough investigation of an investment opportunity or the exercise of good business judgment. SmallCapVoice does not endorse, independently verify, or assert the truthfulness or reliability of any statements or data obtained from third party sources that are published by us about the profiled companies in our website articles, e-mail communications or publications, but we do not publish information that we know is incorrect. Investors should not rely solely on the information contained in our website, e-mail communications or publications when making investment decisions. Instead, investors should use the information provided on the profiled companies as a starting point for conducting additional research that will permit them to form their own opinions regarding the appropriateness of an investment in the profiled company’s securities. SmallCapVoice does not warrant, represent or guaranty that there has been no change in the affairs of the profiled company since the date that information was published on this website, in e-mail communications or in our publications regarding a profiled company or after the date of the profiled company’s press releases or other information disseminated via our website or publications. If you become aware of any change of circumstances related to any website article, e-mail communication or publication, please notify us immediately. See the Contact Us page for the appropriate e-mail address. The information contained in our website, e-mail communications and publications pertains to microcap, small cap and/or other thinly traded securities which by their very nature involve an extremely high degree of risk. An investment in these type of securities could result in the loss of some or all of an investment in the company. In addition, due to the illiquid nature of some of these securities, an investor may find encounter difficulties in liquidating the securities.SmallCapVoice may liquidate the unrestricted stock consideration it receives at any time it deems it appropriate to do so. SmallCapVoice may liquidate the restricted stock consideration it receives at any time it deems it appropriate to do so after the required six-month holding period has run after the completion of the services for which SmallCapVoice was paid in stock. The liquidation of our stock may have a negative impact on the securities of the company liquidated, including decreased market value and/or dilution of the company’s securities. The following companies have paid, and/or have agreed to pay SmallCapVoice to: distribute the company's information and reports on this website, to send e-mail communications; to send publications by mail, to post company Internet links on our website, and to compile and/or to distribute reports in an e-mail newsletter.
We encourage our readers to use caution when investing and educate themselves at the web sites of the Securities and Exchange Commission ("SEC") at www.sec.gov and/or the National Association of Securities Dealers ("NASD") at www.nasd.com. We encourage you to study the SEC's policies regarding online newsletters at http://www.sec.gov/answers/newsltr.htm. We also strongly recommend that you read the SEC advisory to investors concerning Internet Stock Fraud, which can be found at www.sec.gov/consumer/cyberfr.htm. Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site."
LOL, yeah- some "article" about the company. We DO NOT guarantee what we say to be even accurate or reliable- but hey, that's cool. SEE DISCLAIMER section. Right on !! I guess that's what $5K for a month's worth gets you- no accuracy guaranteed. Nice.
LOL ! Quote: "Yea man $10 million in debt is nothing especially for a phase 3 ready company"
$10 million in debt of a company with $46K CASH total, left to their name - is called sitting on the edge of insolvency, aka BK. And their own warning statements by their own Sr Mgt in their own duly filed SEC statements say just that.
Last filed 10-Q, PAGE 12:
"NOTE 2 — GOING CONCERN MATTERS
The accompanying unaudited condensed 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 unaudited condensed financial statements, during nine months ended September 30, 2014, the Company incurred an operating loss of $1,247,199 and used $747,184 in cash for operating activities. As of September 30, 2014, the Company had a working capital deficit (current liabilities in excess of current assets) of approximately $10.0 million. 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."
Same 10-Q Filing PAGE 26:
"NOTE 13 — SUBSEQUENT EVENTS
Subsequent financing
KBM Worldwide
On October 6, 2014, the Company entered into a Securities Purchase Agreement with KBM Worldwide, Inc., 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 July 8, 2015,. The Note is convertible into common stock, at holder’s option, at a 45% discount to the lowest daily 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 and accrued interest at 150%, and any other amounts.
Daniel James Management
On October 3, 2014, the Company entered into a Securities Purchase Agreement with Daniel James Management, Inc., for the sale of a 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 October 2, 2015. The Note is convertible into common stock, at holder’s option, at a 47% discount to the lowest daily 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 and accrued interest at 150%, and any other amounts."
Two recent toxic, floorless, convertible debt dilutive notes for a pittance of cash in amounts of $25K and $38K ? $10 MILLION is enormous to a company in this financial condition, again per their own warnings and the fact they were needed to borrow desperation cash at the worst terms possible - in amounts/increments as low as $25K. They had over $2 million in just accounts payable last qtr against that $46K cash and also had to issued "promissory notes" (aka debt) for the $800K in "cash" bonuses they just paid the 2 insiders- as they had no actual "cash" on hand to pay them the promised bonuses (which are more than likely earning interest now if past SEC filings are any indication of how they work their loans "related party" deals like the $800K bonus promissory notes)
$10 million is huge debt for a company in this poor a financial condition. And no, "revenues" made no essentially no differences- as their expenses out paced any revenue after cost of sales, and that's despite cutting R&D spending to near zero, the thing that "dressed up" the PR to claim cash use has fallen more than actual reality if the R&D spending was maintained at levels of an actual "medical research and development company".
LOL !! Quote: "Wow someone bought almost a million shares Friday. Someone knows something!!!!"
What "buying"?? What imaginary $50 million in 2015 revenue, LOL !! They just borrowed $25K and $38K of total desperation convertible debt money as late as Oct of 2014 (see last filed 10-Q, PAGE 26) and finished that qtr with a pittance of $46K cash to their name, not even able to pay $800K in cash bonuses they just issued to 2 employees of their 4 "full time" total employees, and they're now supposedly going to ramp to $50 million in revenue in less than 1 yr (it's mid Feb 2015 already, so less than 10 months of 2015 left)??? That's beyond funny !
The stock closed DOWN 14%, SOLID RED on Friday on high volume. There was ZERO net "buying" - it was a total sell off. The stock is sitting near it's 52 week and all time lows and is in a 9 month or more sustained downtrend- unbroken and no signs of abating or reversing.
The stock is parked at ONE CENT and the market cap collapsed to barely above $5 million dollars, half their current debt.
Yeah, somebody knows something alright. The stock has has gone under ONE CENT about 15 times now in 2 months or less on very high volumes- despite numerous attempts at PR, a "conference call" and big "slide presentation" full of all kinds of pie in the sky "projections" and "grand plans" (REMEMBER MIRROR, the big PHASE 3 trial? Where did that big grand plan and vast set of "claims" and hype vanish too??) a few Power Point slides and PR full of legal-eze chalk full of "maybe" "could happen" "might" "possibly but we can offer no assurance" blah, blah, blah see the SAFE HARBOR disclaimer, all the same old IMO. Years of this stuff.
http://www.biospace.com/News/northstar-biotech-launches-20-million-private/275992
http://www.marketwired.com/press-release/bioheart-receives-2-million-term-sheet-investment-offer-from-vitalmex-global-leader-otcbb-bhrt-1686526.htm
http://globenewswire.com/news-release/2011/01/24/438265/211616/en/Bioheart-Raises-4-Million-to-Advance-Clinical-Trials.html?print=1
(that Korean deal crumbled, never happened. Great sounding ole PR though, eh?)
I can list dozens more like this.
I can go back to 2008 at least and show reams of the same kinds of grand "plans" and "claims" yr after yr after yr. REGEN and MARVEL trials have been supposedly going to "re-start" for FIVE YEARS NOW, yet never have yet. And probably most of them, those "grand claims" and vast, vague "plans" and "projections" that had no clear path outlined as to how they'd actually be achieved, almost all of them never materialized.
"BS-I haven't seen these people sell in the past unless you have documentation proving Tomas or Murphy sold??? "
Ah, unless I'm mistaken- I don't think there's a single statement in my prior post that "claims" or "states" or otherwise in any other type of wording says that "Tomas and/or Murphy sold shares"????
I re-read my prior post and don't see a single sentence even coming remotely close to stating either of those people "sold shares"??
What am I missing here?
"instant-vest" shares mean they "can" or "could" sell them immediately- the shares they just received on the Form 4's filed today. That is a 100% factual statement. Nothing more, nothing less. There is no 25% per yr typical vesting schedule/period, no other restrictions, etc on the options they were granted on the Form 4's filed with the SEC today.
That's known as vesting in full, vesting 100% immediately, which means those options "could be" exercised and then the underlying shares sold at anytime from the day they were granted- all 1 million shares per each individual in every Form 4 released today.
Those are facts. Just reality. NOTHING said they have or had sold- just that by the nature or the way these options are granted and the way they "vest" they "could" be sold.
Form 4's out- more free shares (option grants) to insiders.
They all appear to be "instant vest" options, essentially 100% free shares if exercised- meaning no vesting schedule (typical is 4 yrs, 25% each yr for options, nearly always in public traded companies)- these are instant-vest and all handed out at just over 1 CENT each.
Murphy grant of 1 million instant vest options at .0112
Tomas grant of 1 million instant vest options at .0112
Anderson grant of 1 million instant vest options at .0112
Ahn grant of 1 million instant vest options at .0112
Hart grant of 1 million instant vest options at .0112
Comella grant of 1 million instant vest options at .0112
Borman grant of 1 million instant vest options at .0112
Looks like the entire BOD just got perked with some new 1 million options each, all vesting immediately- meaning they could sell/dump them immediately into any pop in the stock if it comes up.
If they run some sort of stock "promotion" (especially paid) after this- it would be super "interesting" IMO, being that options are all "instant vest". Just my 2 cents - that part (the vesting method) is "interesting" IMO.
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000229/xslF34
5X03/tomas_form4.xml
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000231/xslF345X03/hart_form4.xml
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000230/xslF345X03/comella_form4.xml
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000232/xslF345X03/ahn_form4.xml
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000233/xslF345X03/borman_form4.xml
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000234/xslF345X03/anderson_form4.xml
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000235/xslF345X03/murphy_form4.xml
So that's 7 MILLION more shares that will go against the ever increasing "fully diluted" share count. Heck, what's 7 MILLION more shares at the pace they dilute this thing. They just diluted about 50 MILLION O/S shares in the past 3 months ago by reading the last 8-K on the proxy vote O/S count and comparing it to the last 10-Q that covered to about Nov 2nd 2014. What's 7 MILLION more shares now? NO biggie I guess.
LOL !! But wait, Wotten was seen receiving a package very recently from what might of been Amazon, a big package.
Amazon is branching out into all kinds of things- drones, data centers, maybe EYE CENTERS.
It's quite possible Amazon and Bezos are in a big move for OCAT IMO. Think about it: "eyes" and OCATA. Amazon sells "books" and "reading stuff" like Kindles and what not. How can people use Kindles and read if they have "eye" problems? See? See the 100% solid connection?
I'm almost 100% maybe certain the possibility is it could maybe be Amazon IMO in a JV partner deal with OCAT. Possibly for sure maybe.
There's an imaginary "phase II partner" now too?
Sure a lot of "stuff" this company has going on- all except the part that none of it's actually really occurring or taking place?
What am I missing here? What "partner"?
In what SEC filing has that been announced- along with all these other "major events" that are being talked up, but don't actually exist in reality?
Bamm, BMAK is back- like always, on the day it's going deep red.
And it just posted at .01, down 16.67% which is below the current bid?? That's twice today it looks like an order filled below even the present Bid? That's weird?
BMAK had been sitting way out on the Level II yesterday, even all this AM.
Now, they just slid right in on the dropped Bid/Ask, always one Level off, on the Ask, with you got it, a 10K share block.
BMAK now parked on the Ask w/ 10K shares at .011
Just like that. Amazing IMO.
http://www.otcmarkets.com/stock/BHRT/quote
Like BMAK just put the "cap" on probably for the day at .011 ??
The Bid/Ask is loaded heavy on the Ask today, to the sell side then.
"Crash (< 0.01 USD) coming soon???"
It's a very real possibility IMO. It's been doing more trading sub 1 cent recently on higher volume days than the volume it does on the days it pops its head back above 1 cent- this seems to be the new "normal" range perhaps? And all the PR and "presentations" or "conference call" or whatever hasn't budged it- not a bit that I can see.
There is just a massive amount of low priced share overhang on this one now (they diluted out approx 300 MILLION shares just from 2013 to 2014 and about 50 million in just the last 3 months or so- see recent SEC 8-K filing showing now past 600 MILLION shares and compare to last filed 10-Q which covered share count up to early Nov 2014).
Notice, it just printed that 11 AM Eastern (approx time) near perfect red sell spike on the daily chart- about a 400K perfect round lot share sell looks like. Almost every day now for weeks, like one can practically set their watch to it IMO. Always a round lot big sell lately- like 200K up to about 600K or so near perfect round lots. Almost the same time every day it seems - for weeks now.
The MM's on this one now- seem to be able to drop it like a rock using just very small dollar vol sell orders. Sometimes it doesn't move much on 400K shares sold, but then later will drop like 12% or more in a blink on maybe a 10K share block being sold- like barely $150 bucks worth.
It's definitely real, real weak and highly volatile in here for since at least Jan 2015 IMO. About as wild a ride as I can remember. Many trips to sub 1 CENT territory starting since Jan. Nothing seems to be abating that yet- the volumes have been extremely high on the down-side days and much lower on any "up" days- the few there have been.
Bid just dropped again now to .011, just barely holding 1 CENT and 100K still on the Ask and only about 34K on the Bid. Weak.
My 2 cents
They just took it RED on a tiny, tiny sell order- looked like "maybe" 10K shares worth?
That's about $120 bucks worth and they wiped out the AM gains. The AM buy/green order looked like over a 600K share spike on the daily chart- which took it to the Ask, green about plus 3.3%. 650K or so shares green, a buy order that was probably about $8,000 bucks worth.
Now, a single sell order of maybe $120 bucks or so and it's going back to the red. Wow.
Ask just dropped down at the same time too- now at .0119 and Bid back to just barely over 1 CENT at .0108 (with a 100K shares now sitting on the Ask and just 16K on the Bid). It also shows "day's range" as being .01 on the low side? I did see a quick -12% or something flash by earlier- like maybe it actually printed an order at .01? That was strange?
Breaking the 50 DMA on this one is not as important right now IMO as needing to get all the way back over the 200 DMA. As the 50 DMA and 200 DMA are now inverted on this one- for quite some time (technical pattern known as a "death cross"). The 50 DMA is at about .0120 and 200 DMA is way out at .020.
Pretty amazing IMO, watching these OTC MM's/broker-dealers do what they do.
http://www.otcmarkets.com/stock/BHRT/quote
LOL Quote, " Remember this use to be on the NASDAQ! "
Too funny- yeah it "was" PAST TENSE "on the NASDAQ" in 2008 which is 7 yrs ago now, and lasted about a grand total of 1 yr on the NASDAQ before being de-listed as the price fell pretty much straight down from the day it was listed.
And that was after a horrible IPO- one that raised almost no funds.
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/
Then came 2009 and forever relegated to the OTC market where it went on to lose about 99.98% of the value of the common shares, and dilute out from about 20 MILLION shares O/S to now well over 600 MILLION shares O/S and climbing, with 2 BILLION shares now authorized (see increase in A/S SEC filing from 2014)
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBNETYMPJCg4
Yeah, BHRT "was" once on the NASDAQ, "briefly" and it might as well be ancient history IMO. What that has to do with what happened since or especially their desperate financial condition today, endless use of dilution and toxic convertible debt financing, etc is beyond me?
Most recent BHRT SEC filed 10-Q, PAGE 12:
"NOTE 2 — GOING CONCERN MATTERS
The accompanying unaudited condensed 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 unaudited condensed financial statements, during nine months ended September 30, 2014, the Company incurred an operating loss of $1,247,199 and used $747,184 in cash for operating activities. As of September 30, 2014, the Company had a working capital deficit (current liabilities in excess of current assets) of approximately $10.0 million. 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."
I mean Radio Shack just filed BK a few weeks ago- but they were "once on the NYSE", on the NYSE pretty much right up until the BK filing occurred, so does it really matter now they were "once" on the NYSE?
BHRT's common stock "performance" from the NASDAQ days to today (they say a picture is worth a 1000 words or something like that)
"It's funny how shorty really underestimated the big pockets"
What "shorty"?? The open short interest on this stock on any given day is for all intents and purposes ZERO. None.
The only people who can and do short 1 cent or sub 1 CENT penny stocks are pro trading desks and the MM's (market makers) themselves- usually the same people who are financing a company like Bioheart via giving them toxic, convertible debt, floorless, financing deals. In BHRT's case they use lots and lots of toxic financing- most recently Asher, Magna, Fourth Man, Danial James and KBM Worldwide or some name like that. Endless convertible debt survival cash deals, just read the most recent SEC 10-Q filing and every SEC 10-Q or 10-K filing going back years.
The only "big pockets" involved with BHRT are the ones financing them continually- the convertible debt hedge fund or toxic loan houses. BHRT has no "big pockets"? BHRT has total assets of about $250K total on their last 10-Q and total cash at the end of that qtr or a pittance of $46K grand total, almost cash broke. What "big pockets" would BHRT have?
If anyone was "shorty" on this stock- then they're the ONLY one who have made money on it more than likely- as the common shares have lost about 99.98% of their value since going public in 2008.
BHRT went public in 2008 at $5.00 a share and rapidly collapsed in price from there- being de-listed from the NASDAQ only 1 yr later, almost to the day in 2009, relegated to trading then on the OTC market.
$5.00 a share to a recent ONE CENT a share is about a 99.98% or more total loss to the common shares. That's this supposed "shorty's" greatest dream come true in life IMO.
Quote: "That email was written by "SuperFeed", also known on this board as "InvestorStemCell" since he owns the website that you are or were clearly signed up as a member of... InvestorStemCell.com.
He himself is a shareholder, and clearly states the article he wrote is in his opinion.
This in no way is a paid penny promotion by Bioheart, but another shareholder giving his opinion. "
I don't believe any of that. How can any of that be proven? How does anyone know who's a shareholder and who's not? How does anyone know who's signed up as a "member" to some website or not, unless they own or work for that website? How? How does anyone know who's been paid a promotion fee or not, etc? Impossible IMO.
Total BS.