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LOL ! Quote: "I am guessing that Mirror and Angel were cancelled to focus what funds they have on the major Marvel FDA trial IMO. I am sure more details will come out regarding progress soon IMO"
Oh yeah, for sure. That's a "guess" all right. Like how MIRROR was "FULLY FUNDED BY BIOHEART", Lol !! Like that, right? The ole "focus those funds" that NEVER WERE THERE and NEVER WERE SPENT in over 1.5 yrs from the original MIRROR trial? What fantasy land is that??
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
It was supposedly FULLY FUNDED in July of 2013, so what "focus of funds" is/would or could possibly happen? The trial was supposed to take place over a 12 MONTH period. Meaning if it had ever been FULLY FUNDED by Bioheart- the imaginary "funds" would have all been spent by now. How do funds that were never there in the first place now get "re focused"?? How exactly does that work? I'd like to see that trick?
Qoute: "I am sure more details will come out regarding progress soon IMO" LOL !!
Yeah, just like the "MIRROR UPDATES" just poured out continually? Right up until 1.5 yrs later when the ole, "OOPS, IT'S CANCELLED and NEVER REALLY HAPPENED, SORRY" ole "update" was given? Like that?
That's way, way more faith than I'd ever have. Way more.
Read the fine print of the ole Marvel "restart"- just count the "maybes" and "if this, then that" and the "we hope to" and all the other "qualifier" words- and then the grand ending, the "SAFE HARBOR" escape wording at the end of that PR. NOTHING might happen on "Marvel" per that Jan 29th, 2015 PR, and it'd all be legal-eze "covered" it's so loaded with qualifying statements and ways out via the way its so carefully worded IMO. Just like the MIRROR PR was so carefully worded- and how did it turn out?
http://finance.yahoo.com/news/bioheart-updates-diversifies-clinical-development-150000986.html
QUOTE:
" The re-start of the Myocell(TM) clinical trial is conditional to re-engagement with the principle investigators and related institutional requirements and internal preparations"
TWO MAGIC WORDS IMO, "is conditional". Right there is the ole "way out" if it never happens. If the "conditions" can't for some reason be met, well, then it just never happens- end of story.
"Additional information on the timing of patient enrollment will be given at a future date. "
A "future date" means in legal terms, anytime between when that was issued on Jan 29th, 2015 and FOREVER, aka the END OF TIME. That's what that means.
Notice also in that PR, it very carefully never said one word of detail about how any of those "grand plans" were to be funded, or even gave any cost estimates and detailed time lines. Just vague dates way out in the future- all covered as being only "estimates" and "SEE THE SAFE HARBOR" wording at the end for "might" " we think" " we hope to" "we plan to" blah, blah, blah same old IMO.
It would be "firm" language if they stated, "We will issue enrollment numbers before the end of the 2nd qtr 2015" or something to that effect. Now they're legally locked in via the language. "at a future date" to me means pretty much NOTHING. So vague, so open ended as to mean pretty much nothing IMO.
Remember MIRROR, "ONE PATIENT ENROLLED". That was a classic. Then it sat for about 1.5 yrs from July of 2013 to Jan of 2015 when we now find out, CANCELLED, OVER. DONE, GONE.
Yeah, I won't be holding my breath on ole Marvel "re-starting"- I don't want to die from lack of oxygen.
My 2 cents.
Lol, "They did a great job with with Angel. Mirror was not communicated well IMO"
What? "Great job"??
1) Angel just got "canned" ending in nothing per the latest PR of Jan 29th, 2015? What was "great job" about that? It was a big ole PR pump IMO? What's it ever going to amount to now?
http://finance.yahoo.com/news/bioheart-announces-phase-angel-trial-110823792.html
QUOTE:
"Kristin Comella, Bioheart's Chief Science Officer, said, "We were so excited to see brisk enrollment in the study. Once we collect preliminary safety and efficacy, we will expand the study into a Phase II trial."
REALITY- it's NOT becoming a phase II trial. It's CANCELLED as of the Jan 29th, 2015 ole PR, no explanation given. End of great "story" PR.
2) MIRROR was "not communicated well"?? Well, that's a real "nice" way of putting it IMHO. How bout MIRROR was hyped in PR as a "Phase 3 FULLY FUNDED BY BIOHEART" and well, sorta, kinda like, well, just NEVER HAPPENED REALLY we come to find out. If that's defined as "not communicated well", then that's an awfully nice way of putting it IMO. I'd use "other" descriptions for that one- and they'd be a lot more harsh than "Not communicated well". I think there's other terms used to describe when something is highly "talked up" shall we say, when "vast claims" are made about something in print, then one finds out that "something", well was kinda-sorta just NOT TRUE in the end and never really happened as described, like not being "FULLY FUNDED BY BIOHEART"??? It's kinda hard in my book to understand claiming something is "FULLY FUNDED" when it never actually took place, and then later, SEC filings become full of statements like, "MIRROR IS WAITING TO BE FUNDED"?? Just a tad bit of "contradiction" shall we say IMO? A tad maybe?
Orginal MIRROR PR full of vast claims- I mean it sounded great right?
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
July 2nd 2013, that PR said MIRROR was rocking and rolling- moving ahead and "FULLY FUNDED BY BIOHEART" and had "enrolled ONE patient".
Well, then nothing really happened after that. Never really heard about old MIRROR the "phase 3 trial" again.
From the latest 10-Q filing for the period ended Sept 30th, 2014 PAGE 29:
"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."
Wait, "secured sufficient funds"?? What? But the original PR from July 2nd 2013 said the following:
"The MIRROR trial is fully funded by Bioheart and will be conducted at up to 35 centers in North and South America. The trial is designed to enroll up to 126 patients over a 12 month time period. "
So what happened? So it was never "fully funded" in the first place, now was it? PR hype versus reality in my book. The PR sure sounded "good" - but it just never really ever happened.
Cause now we find out, just a week or so ago via another PR (with no explanations given by the way)
PR of Jan 29th, 2015:
http://finance.yahoo.com/news/bioheart-updates-diversifies-clinical-development-150000986.html
Quote:
"The Company has no further plans to advance its ANGEL and MIRROR clinical development programs."
And just like that- ole MIRROR, the much hyped, big ole "phase 3" that NEVER REALLY WAS, it's just gone. Vanished. Cancelled. No further explanation given.
Hardly a "not communicated well" in my book. It's way bigger a problem than that to me, IMO. It raises a whole PR credibility issue to me, for me personally. That original PR about MIRROR and the reality of what really happened on MIRROR, might as well be a 1000 miles apart IMO. The initial PR hype was just that to me, a big hype "story". Cause none of it ended up happening- not "up to" 35 centers, or the "up to" 126 patients enrolled, let alone any actual "phase 3 trial" ever even taking place, let alone was it ever "FULLY FUNDED" by Bioheart. It all just never happened.
The day that original PR was released way back in July 2013, I remember I never understood vague language like "up to" wording being used?? That wording, legal-eze, meant to me if they enrolled ONE patient at ONE center, then they'd met the legal definition of "up to". I've never seen a medical trial described using wording such as "up to" for the size and number of participants, never. It would normally state something like, "This trial will enroll a minimum of 87 patients to meet the end point requirements with a maximum of 109 and will take place at 35 centers located across the geographic area of XYZ". Something definitive like that- not vague and open ended wording such as "up to".
MIRROR never made any sense to me- and now I'm not surprised one bit in the way it's turned out. Like so many other things BHRT put great sounding "PR" out about- it's just vanished, never really amounting to anything, in this case never really even happening, and now never to be heard about again. From my experience- nothing new for ole Bioheart. Can't count or remember how many times that's been the case in my experience?
Broke ONE CENT this AM. Opened at .0098, back to two zeroes after the decimal.
Also, MM BMAK is sitting back on the Ask, with you got it, a perfect 10K share block right not. Always 10K shares at a time for ole BMAK.
http://www.otcmarkets.com/stock/BHRT/quote
Looking real, real weak in here. They pretty much fired off all the "big news" they had again but the PR run-up didn't hold.
They got some folks to buy at .0229 only what, maybe one week or so ago, who are now sitting on pretty much a 50% loss now? Wow. Those people if they held those shares now need a 100% gain just to get back to break even. That's pretty tough sledding.
The PR just doesn't seem to run it up like it used to IMO, with all the dilution overhang shares out there - around 300 MILLION shares issued out in just approx. the past 1 yr alone, a good chunk of those going to toxic/convertible debt finance houses (Manga, Asher, Daniel James and Fourth Man are known for certain from recent SEC filings).
From the latest, most recent 10-Q filed, PAGE 9
"Fully diluted shares outstanding were 659,543,477 and 323,296,916 for the three months ended September 30, 2014 and 2013, respectively "
That's a lot of shares from just 2013 to 2014, 1 yr period, yr over yr:
659,543,477 - 323,296,916 = 336,246,561 new shares O/S (336 MILLION) More than a doubling of the shares O/S in about 1 yr and no slow down in that pace of dilution that I can see- not with the recent Magna deals all in place now.
That last 10-Q fully diluted share count wouldn't even include the most recent inked Magna finance deals. Those alone, from the share registration and prospectus filed will add another pile of instant dilution shares of at least:
31 million shares more just for the $200K note + 9 million in fees/expenses to Maga = a minimum of 40 MILLION new dilution shares in just the past few months having been issued out and possibly now free trading.
Then as much as 15 million more to Magna for additional fees/expenses (see the Magna "credit line" SEC filing for details) plus if Bioheart were to have made a "drawdown" or two by now on that credit line- who knows how many 10's of millions more common shares could have happened now by the time it hits early March 2015?
There may be as many as about 100 MILLION more shares issued just for Manga in the past few months would be my guesstimate.
Then one has to add in all the other shares Bioheart issues out in any given qtr- for everything from paying options grants to insiders, to common bills such as "notes payable" to "related party payments" to "accounts payable" to "interest on debts" etc (just read any 10-Q or 10-K from the past several yrs and there is always millions of common shares issued out for all kinds of matters by BHRT, usually 10's of millions in a single qtr).
Dilution, it has effects and consequences has been my experience watching any company that dilutes their shares as heavily as this one does- almost always pushes shares to the downside per my experience. Just too much share overhang- 10's of millions of low priced shares issued out and a lot of convertible (floorless) debt "financing" deals done- a lot.
My 2 cents.
LOL: "up 1.26%" ????
QUOTE: "This will see $2 a share before it ever sees $200 a share IMO
Ok genius explain up +1.26% today on no real news?? "
Bwaaah-ha-ha-ha-ha. OK, so it's ONLY lost what, 97.98% now instead of 98% since the IPO, something like that?
I don't do math lessons for 3rd grade level stuff. Yes, I am a "genius".
And yes, there is no real "news" and hasn't been for how many years now?
All the best,
Captain Kirk
Lol: "You two are very wise. U will have no risks and get in well below 200 per share too"
Well nice to see the pie in the sky fantasy price is now only $200 per share. Last I checked the mythology price it was as high as $4,500 a share.
This company's gonna be lucky to even be in biz still in 5 yrs. $200 a share? Do the math on the market cap on that one and Lanza saying no approved product "maybe" until 2020 at earliest.
This will see $2 a share before it ever sees $200 a share IMO. After 60% planned dilution in 1 yr using the $100 million shelf offering and "if" they ever manage to list it on the lowest tier NASDAQ, it's gonna light up every pro short's and pro short hedge funds red alert signal like a bio-hazard level 4 containment leak just went off. The post dilution shorting may be merciless for quite some time- and they'll have no income for years to come.
$200 a share? Nice pipe dream.
Quote: "Shiskabill..(1)The $10 mil, 62 mil shs offering is no longer being listed. At least can no longer find. and (2) OTC MMs have curtailed Naked Shorting. These two events would curtail vol as Shorts quietly cover their positions. JMHO"
1) PURE NONSENSE there is not a "quiet period" and the offering is thus completed, blah, blah, blah NONSENSE?? The offering is 100% still listed and on the SEC EDGAR website- what myth is this that it's no longer "listed"??? Where is that coming from?
2) IF, OCAT placed and sold ONE SHARE of that secondary- it's a materials event and gets plastered on the SEC EDGAR database the split second after i happens. PURE MYTHOLOGY that there's "secret deals" and "secondaries" get done but sandbagged or shelved while no one is told, blah, blah, blah.
3) The price right now is inching up on nothing volume- just amateur buyers who are too far out of the news cycle now to understand that a 30% dilution bulldozer is about to mow this down "if" they can ever even get this dilutive secondary placed and sold (and NO it's not for $62 million, that's a "template" number plugged in from the BLANK, generic, prelim prospectus based on the market price the day it's filed with the SEC. 10 million X that day's market share price)
The secondary will "net" to OCAT whatever the underwriter's price is per the shares (which included a share discount) - underwriting fees/expenses. There is NOTHING that guarantees that's going to equal $62 million.
The offer is 100% alive and the blank aka UNPRICED prospectus is parked right on the SEC EDGAR database right where it's always been- despite all the myth posts of today.
http://www.sec.gov/Archives/edgar/data/1140098/000104746914009660/a2222363z424b5.htm
There it is- unchanged from the day they posted it.
Quote: "Everyday they make more money than the day before is moving away from dilution.. common sense"
1) There's not a shred of common sense in that statement
2) Because they, BHRT "DO NOT MAKE ANY MONEY". REVENUES are not the same, not in any way, shape, or form as "making money", aka a profit or positive cash flow.
3) BHRT SPENDS MORE than they ever take in via top line revenues- thus they MAKE LOSSES, MASSIVE LOSSES. PERIOD.
THAT is known as "common sense" and business 101. There are companies, 100's of them, many BK, who had/have "revenues" well over $1 BILLION annually, but they MAKE NO MONEY and thus fail as businesses. It happens all the time. Again, business 101, "revenues" DO NOT = "making money". BHRT makes only LOSSES. PERIOD. They've never, ever, ever since their inception ever "made money" as in positive cash flow, internally generated cash, let alone an actual "profit". Never happened.
Quote: "Ugh that's exactly the point. Bioheart had been funding themselves on dilution just like OCAT. However Bioheart is moving away from that with increased revenue to limit further dilution. Have you seen the revenue increases in 2014 compared to 2013? "
1) There is ZERO PROOF or reality that Bioheart is "moving away from dilution". PERIOD. They just did their biggest dilution yr in their history: 300 MILLION plus shares in less than one yr (see latest 10-Q SEC filing)
2) "revenues" have made ZERO difference in their ability to generate cash or positive cash flow because their expenses have far outgrown, outpaced any bottom line revenue (also top line revenue was eroded by very high cost of sales- netting them very little cash in the end).
3) Top line "revenue growth 2014" amount to no difference in their desperation financial situation- "sound bite nonsense talk" versus READ THE SEC FILINGS, and the "set of financials" most importantly (typically the first 6 or so pages of the 10-Q, the balance sheet, statement of operations, statement of cash flows, etc). They took a larger loss from operations yr over yr in the 9 months so far of 2014 than the same period of 2013. Again, costs and expenses are out of control (think $800K bonuses just for starters)
Talking in nice sounding "sound bites" and platitudes versus the REALITY of the SEC filings and financial statements. They are NOT "moving away from dilution". NO PROOF, not one shred of that via reading the SEC filings. They just signed up for a massively dilutive Magna "credit line" in addition to a recent Magna "note"- the lower the price goes right now, the more dilutive that Magna line gets- and BHRT made it clear in the share registration statement that they plan to "tap" all $3 million of that Magna line, aka PURE DILUTION and a super tanker full of it.
NOWHERE is there any reality I can find that they are reducing their reliance or need for dilutive, toxic, desperation financing to survive and stay alive and pay essentially two people of the 4 total, pay those 2 people, $1,575,000 annually. I'd like to see hard financial numbers proving otherwise, not fast talk and sound bites and platitudes.
" That Email is from a BioHeart subsidiary"
So it's being emphatically "claimed" that this "clinic" is a business unit "subsidiary" of Bioheart? Meaning Bioheart owns and operates it etc?
Where was this ever disclosed as a "material event" and then where's the physical address and all other pertinent biz info for a "subsidiary" of a public traded stock company?
Where's the links and details?
Have you got an email address and and physical address and web site for where on can get these "treatments"?
Sounds great and interesting. Post how people can get a hold of um- many might be interested in how to get appointments there for these stem cell treatments.
The email came from this new clinic facility or from Bioheart?
Thanks
"Needs to hold .012 if not this could fall back into sub penny-IMO"
I agree, and Bid just dropped again now to .0116. Not looking too good in here.
My 2 cents- it's just the massive, massive dilution machine. About 300 MILLION shares in just the past approx. 1 yr.
And a lot of that pure dilution went to the "notorious" (not nice guys from all I've read and researched) of Asher and Magna. Like the two most notorious price-crushers (I call um)- two most brutal penny lender hedge firms on the street probably. Just brutal to common share prices via their "financing products" lent out to cash poor nano/micro cap penny stock companies.
That's all it is IMO. All I know is what I've read and researched by Googling convertible debt, Asher, Magna and reading I-HUB forums where those firm's names come up- and I've yet to ready a good story or ending about them yet.
Sometimes the force, the down pressure of that dilution and use of what even the SEC calls "toxic debt" or "death spiral" financing is just too great to overcome- it would take tremendous buying up pressure IMO.
http://www.sec.gov/answers/convertibles.htm
Look at yesterday- ole MM (market maker) BMAK was back, sitting parked on the Ask with a perfect 10K shares (About $150 bucks worth or less, just sitting on the Ask, "capping it" in effect). Always 10K shares for BMAK. BMAK is highly rumored via net research to be one of the key MMs that Magna and often Asher use. That's what my research found- when I looked um up.
That's all I think it is- just massive dilution. I'm guessing by this next 10-K, they've well passed 700 million fully diluted shares O/S. Maybe even a lot more possibly. That's what I think.
Vast and vague "programs" and incredible "claims" even in 2008/2009- what happened to all of them? Where are they today?
Seems like a lot of the "stuff" on that list form 2008, is still being regurgitated today in one form or another IMO. It's just re-playing the same old variations on the same song to me.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ajkzX9o9TTDY
Remember the ole TGI-1200 system??
http://www.ascrnetwork.com/index.php?option=com_content&view=article&id=1695:bioheart-reports-promising-results-from-preclinical-study-of-adipose-derived-acute-cell-therapy282&catid=91
http://www.drugs.com/clinical_trials/bioheart-reports-promising-results-preclinical-study-adipose-derived-acute-cell-therapy-5596.html
http://www.biospace.com/News/bioheart-inc-strengthens-executive-team-in-order/153495
That was the ole "strengthen the team" PR and a lot of Myocell SDF-1 "claims" even way, way back then- all like today IMO. What ever happened to um?
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's a classic IMO. Read this wash list of items "projected" to happen clear back in 2009 (the yr they were delisted from the NASDAQ). They "projected" a "run rate" aka SALES of $22 MA MILLION dollars from some "product" that I don't think even ever sold- and sure is never spoken about today as far as I know?? Just vast "claims" and "projects"- vague and broad IMO, like a good "conference call", you know?
QUOTE from the 2009 "news PR link" above:Bioheart's business objectives for 2009 and beyond include the following:
* Reach Bioheart 3370 Heart Failure Monitoring Systems sales of an
annual run rate of $22 million. FDA 510(k), European CE Mark and
Reimbursement already in place.
* Complete interim analysis of MARVEL Study patients.
* Expand global distribution network in Europe and Asia-Pacific and
related sales pact.
* Move MyoCell(r) SDF-1 second-generation composition for advanced
heart failure into Phase II/III pivotal clinical trial.
* Launch U.S. 510(k) authorized Bioheart-Monebo Cardiobelt(r) in U.S.
market.
* Keep operating loss for year to under $5.4 million.
* Publish in peer reviewed journals Phase II SEISMIC and MYOHEART U.S.
Dose Escalation Study Results.
* Gain reimbursement approval for MyoCell in Europe for treating
sickest heart failure patients.
* Launch sales of CE Mark approved Bioheart A&C Bio Science T-PLS(r)
Twin-Pulsatile Life Support System system in Europe.
* Finish development with corporate partner of implantable heart
failure sensor that communicates wirelessly with the Bioheart 3370
Heart Failure Monitoring System.
* Finish development of implantable heart pump on percutaneous
catheter with corporate partner in Korea, A&C Bio Science, Inc.
* Sell off rights to non-core intellectual property and product
developments to increase cash available for core heart failure
focused developments: AortaCell, MyoStim, MyoValve, BioPace,
EndoCell, and MyoCath.
* Seek joint venture partner to commercially develop the A&C Bio
Science LVAD/SVAD, a significantly lower-cost left ventricle assist
device co-developed by Bioheart.
* Continue to add devices to product lineup that feed information
into the Bioheart 3370 24-hour monitoring system.
"
End quote.
Greeeaaaat sounding ole "stuff" eh? How much if ANY of it ever actually happened or even remotely came true? How much?
So how much of that wash list ever actually happened to came true? And they had how much cash back then and how many employees and all? A whole lot more than today- that's for sure.
So now some of that "stuff" is being supposedly re-birthed today when they have 4 full time employees total and little to no cash? MARVEL- see how it was all being "talked up" even clear back then, in a 2009 big PR?
It's all the same to me- I don't see what is "exciting" or "going to move the price" or "cause the market cap to increase" or was "great" and all the rest about some "conference call"?? Makes no sense to me personally- I've seen and heard so much of it from BHRT so many times in the past.
Here, here's a few more GREAT "sounding" one from not too long ago. I mean "sounded" GREAT (term sheets, and we think, and 3 maybe partners just like that 2009 PR had "partners" plastered all over it", and we're "working with" and blah, blah, blah, same old IMO, all the same to me)
http://www.marketwired.com/press-release/northstar-launches-20-million-private-placement-round-with-proceeds-fund-bioheart-trials-otcqb-bhrt-1713163.htm
http://www.marketwired.com/press-release/bioheart-receives-2-million-term-sheet-investment-offer-from-vitalmex-global-leader-otcbb-bhrt-1686526.htm
http://www.bizjournals.com/southflorida/news/2011/04/26/bioheart-terminates-anc-bio-investment.html
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=asecNvIZ.xXI
http://globenewswire.com/news-release/2012/02/29/469402/247547/en/Bioheart-Appoints-Advisory-Board-of-Business-and-Financial-Executives.html?print=1
http://globenewswire.com/news-release/2012/01/30/466536/244075/en/Frank-Young-Joins-Bioheart-as-Financial-Consultant.html
http://www.heartbeatineurope.org/de/news_center/34.html?newsID=186
"In my opinion one day this will pop to .20 not sure where it will go from there but will you be ready?" ???
The Bid is .0121 right now, not "some day"??
That's a long, long ways from some imaginary price of .20 ??
Quote: "Taking care of legacy issues affecting the market value....interesting" ????
(AM Bid parked at .0126 after the "big conference call", guess all that vague and broad "stuff" hasn't had time to soak in yet??)
What does a 100% vague statement like that even mean? "taking care of legacy issues"??? What exactly is being "taken care of"?? How, when, by what means, etc?? Who can possibly even know if it means anything?
How bout a list of these supposed "legacy" issues "affecting the market value"?? The stock is down about 98% on HIS WATCH. He's the "legacy", NO??
When he as CEO has diluted the stock from something like 30 million shares in 2010 (I'd have to check a 10-Q of 10-K from June 2010 when he took over as CEO) to now 650 million plus fully diluted shares- and used endless convertible, toxic financing and pure dilutive financing, all via his mgt, what are the "legacy" issues supposedly "affecting the market value"??
Makes no sense to me? The "market value" is the value being assigned to the stock/company by the free market based on the actions of Sr Mgt and the financial health, or in this case, extreme lack of financial health, etc
Also, this is the same CEO that during a time when the stock and market cap hit near all time lows and loss of market cap (yr 2014)- took, along with one other person, of the 4 full time employees- too a huge set of cash bonuses for just him and one other person that total over $800K an also very large base pay increases- at a time when the company was and is for all intents and purposes, cash broke.
Just two people in this company of 4 total, now consume $1,575,000 annual in cash use to pay them- when the company finished last qtr for their own 10-Q SEC filing. The CEO is now taking over a $MILLION a yr out of this cash poor, convertible toxic debt financed company and has taken very large pay increases, including large "bonuses" during the years that the common shares have hit their all, all, all time lows.
What freaking "legacy" issues? What does that even mean? The issues are the current ones IMO. Forget legacy, how bout how the company is being run today- issuing out massive pay increases and bonuses to TWO people when the R&D budget/spending was hacked out to near zero in the past 1 yr. There's nothing "legacy" about that? That's on his watch, his doing, 100% his baby IMO.
The perks in pay got even bigger in better in 2014 for the TWO people who now are paid a combined $1,575,000 a yr from a company that finished that last qtr of 2014 in this 10-Q filing statement, finished that qtr with $46K total cash left on-hand, and also had cut out nearly the entire R&D (trials) spending budget to near zero- diverting the money off to cash bonuses, huge salary increases, etc
From the last filed 10-Q, period ended Sept 30th, 2014 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."
That's not "legacy"?? That happening in the past 3 yrs on this CEO's watch. Look at what happened to R&D spending, very, very recently on this CEO's watch as he and one other person received very large "cash bonuses"- it IMO explains a lot about why the market performance and market cap is what it is. When one diverts all the company cash to pay "bonuses" and large base pay increases to just two people- while hacking out the R&D budget to near zero, IMO, that will have a huge effect on the perception of the company's "value" and the reality that no actual R&D or "trials" are taking place or being funded- which is the supposed entire purpose for the company to exist?
$500K (bonus) + $525K base + $300K (bonus) + $250K base = $1,575,000 annual pay to just two people of a 4 person company- one that just tapped Manga for intensely dilutive "financing" and survival cash, as they have little to no cash left in the company. What's "legacy" about that?? I don't get it?
Last filed 10-Q, PAGE 5 (look at how R&D budget got carved out to near nothing, while the marketing, general, admin expense line explodes- a good portion of that being "salaries and bonuses" to just 2 people in the company:
I don't personally see anything as "legacy"?? This has all been occurring in the past 2 yrs or so. They DILUTED OUT, DOUBLED the outstanding shares in just the past 1 yr alone- 100% "on the watch" of the present CEO. What's "legacy" about that??
From the last and most recent filed 10-Q SEC filing, PAGE 9:
"Fully diluted shares outstanding were 659,543,477 and 323,296,916 for the three months ended September 30, 2014 and 2013, respectively and 605,015,919 and 336,682,241 for the nine months ended September 30, 2014 and 2013, respectively."
That massive, massive dilution- that's as "recent" as it gets IMO. Nothing "legacy" about that to me?
"So far so good!!
Vetbiologics!! I had no idea we had that in place
"
Vetbiologics is nothing knew? The old Stemlogix website has been doing an auto re-direct to "Vetbiologics" for I don't know how long?
Remember, Stemlogics is suing Comella. That's when I believe BHRT just "renamed" it all to Vetbiologics and sent the old web links to a real basic web page now saying "vetbiologics". It's a big whooop IMO. Any financials on Vetbiolgics, let alone anything else?
https://www.clerk-17th-flcourts.org/Clerkwebsite/BCCOC2/OdysseyPA/CaseSummary.aspx?CaseID=7155410&hidSearchType=party_case&DisplayCitation=no&CaseNumber=CACE13024037&SearchType=
That's the court case to the public clerk of the court link - "Stemlogix" was the supposed Bioheart old "vet" thing - it had a residential house as the "headquarters" address- I can find it later.
This is a link to what still says "Stemlogix" - notice, it just re-directs to the "new" old "Vetbiologics". I don't see how it's any big deal or whatever? Which of the 4 full time employees is running this "vet/animal" thing while these trials and all are gonna take place?
http://vetbiologics.com/
You get to that URL above- if you Google "Stemlogix Florida"- you're redirected to "vetbiologics" as shown above.
BMAK is back parked on the Ask (almost always a perfect 10K shares, about $120 bucks worth) and look at how this is getting buried today.
BMAK is strongly rumored via numerous Google search hits, internet stock site discussion boards, Google research etc to be associated with dilutive penny stock "finance houses"- mainly Magna and also Asher fame.
Down 14% plus now on higher than avg volume. Market cap now back at barely cracking $7 million. Not sure how they fund all those grand plans in that Jan 29th, 2015 PR with these realities right now? There current debts are over $10 mil as of last SEC filing- I mean how would they run and fund multiple trials with almost no cash, their current market cap and a Magna credit line that's capped out at $3 mil spread over 24 months? Makes no sense to me?
Look at the wash list of grand "plans" in that maybe, we hope, we plan to if maybe, we'd like to, we think we can and oh, SEE THE SAFE HARBOR DETAILS OF THE PR:
http://finance.yahoo.com/news/bioheart-updates-diversifies-clinical-development-150000986.html
That's a heck of a wash list of grand plans IMO- but paid for with what and how and when? Not seeing it?
Bid now collapsed to .0125, free falling on high volume.
Myocell is not even under patent, so I can't fathom what possible "myocell news" there would possibly be about it that matters really in the end (or MyoCell SDF-1 for that matter)?
From Bioheart's own, past 10-K SEC filings, their words verbatim:
BHRT 10-K:
PAGE 17:
"MyoCell SDF-1 Patents
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.
In February 2006, we signed a patent licensing agreement with the Cleveland Clinic which provided us with the worldwide, exclusive rights to three pending U.S. patent applications and certain corresponding foreign filings in the following jurisdictions: Australia, Brazil, Canada, China, Europe and Japan, or, collectively, the Cleveland Clinic IP, related 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.
The term of our agreement with the Cleveland Clinic expired in July of 2009, when the license to the patents was turned over to a Cleveland Clinic affiliate, Juventas. We have an understanding with Juventas to restore the license to the patents once certain milestones have been achieved by us.
In 2007, we signed a Letter of Intent with Ono Pharmaceutical which provided rights to conduct clinical development and testing of SDF-1 to determine the effectiveness of SDF-1 for the treatment of damaged myocardium and tissues following acute myocardial infarction, coronary arterial diseases or heart failure. If the results of this testing is deemed successful then we and Ono Pharmaceuticals have agreed to enter into good faith negotiations in an effort to reach a definitive license agreement that will allow us to commercialize our SDF-1 product candidate in all territories of the world except Japan. The Letter of Intent is still in effect.
"
PAGE 16:
"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 licenses 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 30:
"Our product candidates may never be commercialized due to unacceptable side effects and increased mortality that may be associated with such product candidates.
Possible side effects of our product candidates may be serious and life-threatening. A number of participants in our clinical trials of MyoCell have experienced serious adverse events potentially attributable to MyoCell, including six patient deaths and 18 patients experiencing irregular heartbeats. A serious adverse event is generally an event that results in significant medical consequences, such as hospitalization, disability or death, and must be reported to the FDA. The occurrence of any unacceptable serious adverse events during or after preclinical and clinical testing of our product candidates could temporarily delay or negate the possibility of regulatory approval of our product candidates and adversely affect our business. Both our trials and independent trials have reported the occurrence of irregular heartbeats in treated patients, a significant risk to patient safety. We and our competitors have also, at times, suspended trials studying the effects of myoblasts, at least temporarily, to assess the risk of irregular heartbeats, and it has been reported that one of our competitors studying the effect of myoblast implantation prematurely discontinued a study because of the high incidence of irregular heartbeats. While we believe irregular heartbeats may be manageable with the use of certain prophylactic measures including an ICD, and antiarrhythmic drug therapy, these risk management techniques may not prove to sufficiently reduce the risk of unacceptable side effects.
Although our early results suggest that patients treated with MyoCell do not face materially different health risks than heart failure patients with similar levels of damage to the heart who have not been treated with MyoCell, we are still in the process of seeking to demonstrate that our product candidates do not pose unacceptable health risks. We have not yet treated a sufficient number of patients to allow us to make a determination that serious unintended consequences will not occur."
With patents no longer in effect and all these lapsed licenses and what not- what's really there with MyoCell of any real value? Bioheart didn't really even invent or create anything original with MyoCell as far as I can tell- they'd just licensed a bunch of stuff and had rights to use patents of others it seems, all of which have now expired.
So how would MyoCell supposedly ever be monetized in the future- and that's not even beginning to discuss how a cash poor company like Bioheart would ever fund a large FDA quality phase 3 trial and get it to approval and all the rest. Hey, remember the MIRROR phase 3 big "trial" that was per their PR, "FULLY FUNDED BY BIOHEART" and had "ENROLLED ONE PATIENT"- how'd that all turn out in the end? Remember that one?
Original "MIRROR" ole "phase 3 trial" PR. Sounded pretty darn good, eh? I mean is "sounded" real, real good IMO. But what was the reality?
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
From BHRT most recent 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."
That ole "ANGEL" ole "trial" info sounded pretty darn good too, eh? A lot of PR's about the ole ANGEL trials. Yeah baby.
http://finance.yahoo.com/news/bioheart-announces-phase-angel-trial-110823792.html
http://pipelinereview.com/index.php/2014030453581/DNA-RNA-and-Cells/Bioheart-Announces-Positive-6-Month-Data-From-Angel-Phase-I-Trial.html
http://www.pipelinereview.com/index.php/2014101355700/DNA-RNA-and-Cells/Bioheart-Announces-Positive-12-Month-Preliminary-Data-From-Phase-I-Angel-Trial.html
But, but wait? Suddenly Jan 25th, 2015 comes along - and the "big" latest PR and what happened to the ole MIRROR PHASE 3, you know, "FULLY FUNDED BY BIOHEART" and then that much PR'd ole "ANGEL" trial? What happened to um?
https://finance.yahoo.com/news/bioheart-updates-diversifies-clinical-development-150000986.html
Quote from the Jan 25th, 2015 PR:
"The Company has no further plans to advance its ANGEL and MIRROR clinical development programs."
So, BAMM, just like that- the ole "MIRROR PHASE 3 FULLY FUNDED BY BIOHEART", the "big trial" that well, seems to me just never really was- is just cancelled. Gone. Over when it never really even started.
But now, now one is to believe that some 5 yr old "Marvel" trial that's been in the parking spot since like 2009/2010 and for which they have no real patents and all key licenses appeared "lapsed" per their own SEC filings- one is to believe now, now that's the "big thing" that's gonna lead to what? What is the MARVEL (if it actually ever restarts in any serious way) - how's it gonna be funded, how's it ever gonna lead to FDA approval or ever be commercialized- and what's the point to commercializing it anyway if they no longer hold patent on it via their own SEC filings??
None of it makes any sense to me. Also, how does MIRROR just "vanish" for all intents and purposes- when it never really happened in the first place? How does that all "work"? A lot of PR hype about it- but it really was never true in the first place IMO? Cause MIRROR really never even happened, let alone was FULLY FUNDED BY BIOHEART now was it?
My 2 cents. I don't get it?
"If it is going to be such a bad deal, why hasn't the price dropped like a rock?"???
Down 50% in less than a month or two? Sounds pretty much like LEAD BOAT ANCHOR to me? Rocks actually don't drop that fast or hard per my experience.
LOL, "Anip recently s.p.o. 'd at a substantial handsome preium. We're asking 49 and got 89"
Uh, OCAT ain't exactly "ANIP"?? Like comparing baseballs to turnips.
ANIP has EARNINGS PER SHARE, a lot of earnings, as in having an actual P/E ratio and massive growth. They thus have POSITIVE CASH FLOWS, substantial. That means they have a lot of REVENUES TOO then, like $45 million annual and growing rapidly as in 120% qtr over qtr revenue growth.
ANIP is a NASDAQ "GM" (global market's tier) LISTED company- not some OTC micro-cap with recent SEC violations.
There couldn't be a more un-related comparison of two companies IMO.
Oh, and for some PERSPECTIVE, ole ANIP, a MONEY MAKING COMPANY has ONE CEO and (4) Veeps (VP level positions) reporting to the CEO. That's it. And ANIP has 81 employees, more than twice what OCAT has.
Little OCAT is up to what, like 7 Sr Mgt "C" level (Veep and higher) level positions now with a total of about 35 employees maybe and no sales, no approved products to sell, no revenues, no manufacturing operations for all intents and purposes, etc. PERSPECTIVE on quality of mgt IMO.
" they raised 45 Million through Piper Jaffray at 42% below the close on the day they registered to sell the shares,"
Yep, fits the Advasix model to the tee. I wanna say (I'd need to go back and check) - they were at about $6, maybe $6.50 and change after a R/S just like OCAT just did.
Advaxis then did a first secondary that brought um like $30 million I think - I wanna say it was clear down at like $3.50 a share maybe?
Then they just did another one recently and raised another pretty good chuk of coin at something like $4 a share maybe? Again, they have phase 2 trials done and a phase 3 in the works- and a lot of PR, like on the mainstream news, financial shows, etc.
That first secondary ADXS did, buried the price for quite a while- and it took like half a yr or more to recover it and then gain some ground.
OTC, micro-cap secondaries are typically brutal. Fact it- they're ultra high risk companies with no products, no sales, no cash flow, no prospects of cash flow or earnings for years, if ever. NO ONE who's a sophisticated bank/underwriter pays full price for that kind of risk.
Yes, as was stated earlier- they MAKE THEIR MONEY, the underwriter ON THE SPREAD PRIMARILY, plus huge up-front fees and expenses being charges. Higher the risk, HIGHER THE SPREAD as they, these underwriter dudes, no way they're gonna get stuck holding a bag of 10 million shares of some high risk micro-cap company they can't unload for a good profit.
They'e way more shrewd, brutal and street smart for that. These guys, these underwriters are better than an ATM machine when it comes to making money. They're the "House" essentially in Vega. They always "win" on these deals- that's their entire business model.
I agree- OCAT got sticker shock and balked. OCAT ain't living off of Lincoln cause they're some high demand, high end company. You end up at Lincoln when you're in the lender of last resort category for the most part. There's a few levels below Lincoln (Asher and a few others) - but Lincoln is scraping pretty close to bottom. So the idea these 10 million shares are gonna fly out at some premium is pure fiction in my book. No way does that happen IMO. Not a chance in heck to me.
"I'm betting on at least 20% discount. Piper Jaffray are ruthless"
Totally agree. For a micro-cap, high risk, recent tainted background (SEC fines and all) OTC play "trying" to step up and unload 10 million dilutive block trade shares- I've easily seen 20% discounts many times in these situations. A "standard" underwriting discount for a near blue-chip level offering is 7% to the underwriter. It's way, way more on these micro-cap deals. Look at Advaxis, ADXS, a cancer immuno play- they just did a couple of secondary rounds, and the discount was steep, real steep and they've got trials in phase 3 now.
And I'd say 90%, if not every last share of those 10 million secondary shares hit the markets as "free trading" within months of the offering closing, "if" and when they ever close it. A lot of those shares will be going to hedgey fund boys and similar- so don't be surprised IMO if they also short like mad men on it after the placement.
It's gonna be a wild ride IMO. I'm also on the sidelines until the dust settles post any offering finally pricing, selling, and the post trading action afterword. If I miss a blip or some upside percentage gain- so be it.
I've seen more of these end up to the downside than upside- post a 30% highly dilutive placement on a no income, low cash, cash burner, no approved product type company. It's a long slog from here still- real long.
Oh man, .0126 DOWN 16% on the "big day"??
Why? How is that?
Makes no sense IMHO? What "PR" can be used now to "spike" this up? What?
This is a very confusing one to follow IMO. .0229 to .0126 in less than maybe a week's time? Gosh, why? All that "great news" and stuff?
Ole Greg Knutson who's now in full control of the 500 plus MILLION Norhstar Biotech LLC voting shares- I'd guess it's pretty safe to assume he' gonna vote and approve the straight "insider's" ticket. So any common shareholder's vote for all intents and purposes will have zero effect on any outcome of the items up for proxy vote. The insider's have the deck stacked so that they have 100% total controlling vote power.
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000029/d31977.htm
(I think they even amended it recently? Looks like he's now called "Chairman of the Board of Managers"? Not sure if that was changed- I thought before it just removed BOD "Chuck Hart" and then had Greg Knutson with some title like just "Managing director" or something like that- I'll have to check the history on that filing?)
Anyway, ole Greg has 100% full control of the common shares vote in any proxy situation- as 500 MILLION plus shares is way more than a majority at this point in time, and they always just up the Northstar vote ratio "as needed" anyway to insure they always hold the controlling vote (they did it a while back- boosting um form 20:1 votes to now 25:1 votes)
From the SEC filing:
"Greg Knutson, Chairman of Board of Managers, is deemed to have voting and dispositive power"
"Shared dispositive power: 52,368,582 capital shares (32,368,582 shares of common and 20,000,000 preferred (each share of preferred stock has voting power equal to twenty-five common shares)"
So the proxy vote issues are already "in the can", IMO. Ole "Greg K." (whoever he is, the "construction company" dude from Ham MN) just casts his votes and is done as far as which way any proxy vote is voted up/down approved or not approved.
http://www.whereorg.com/g-e-knutson-construction-8294240
Not sure what the CC is going to say that they already didn't just say in numerous PR blasts? When was the last time they even had an "annual shareholder's meeting" or a "conference call"?? Does anyone remember? I was trying to look that up- I don't think they've had one every year or recently have they? Am I mistaken?
"Feb 9 Presentation by Paul Wotton may be signalling end of $OCAT lock-up quiet period for the $62 mil, 10 mil shs placement."
Then again, it may be "signaling" NOTHING as there is no supposed "lock up period" that has anything remotely to do with the company being able to speak, present, discuss, etc.
Also, there is NOTHING that says the offering will be for $62 million or net anywhere near that to OCAT (NOT $OCAT, the symbol, the correct and only one is OCAT). The offering will price at a discount for the underwriters- they all do, always. And at this market price that's not gonna be anywhere near $6.21. That's a "template" number plugged in on a PRELIMINARY, as in YET TO BE PRICED prospectus, and is simply taken as the day's price when the P R E L I M I N A R Y prospectus gets printed and is YET TO BE PRICED.
So, printing the number $62 million over and over and over again- does not raise the chance of that much money being raised "if" they can ever even get this secondary placed and sold. It's almost a 100% certainty at these market prices and conditions that OCAT (NOT $OCAT) is gonna net to their bank account far less than $62 million on 10 million bulk shares being sold to an underwriter, who per the prospectus ALWAYS gets an UNDERWRITER'S DISCOUNT.
"Ocata Therapeutics to Present at 17th Annual BIO CEO & Investor Conference "
But WAIT? I thought they were under some imaginary "quiet period" and super secret 90 day lock up restriction and all? HOW CAN THIS BE? Another "conference" junket where they're gonna discuss info IN PUBLIC?
Did they get imaginary Piper Jafrey "approval" for this one too? You know, asking for "approval" from people who have no power or regulator authority to need to "approve" anything they do, like was stated yesterday?
How can this be? I'm very confused?
Bid and Ask now just dropped again.
Bid .0134 and Ask .0135. (oh spoke too soon, just as I hit click to post, the MM's moved the chains on the field again, got that Ask back at wide open spread to .0150 but left that Bid down low at .0134. Like playing on a field where they just change the rules every 30 seconds or so on a whim)
Just seconds before the MM's had tightened up that ultra wide spread as it looked like there were no takers on the buy side at those level, you know, being the "big day" and all.
Again, is this an "investment" or more of a day trading/gambling casino where one waits for it to "run" on nothing but some PR hype deal? I'm very confused as to which it is? Seems more driven and most are more interested in just "trying" to make quick buck "flip trades" via the company using big "promoted runs" more than any long term sustainability? That means to me it's not an "investment" but more just a daily or weekly gamble trade and used to flip in and out of hoping to make a quick buck (or more than likely lose a large buck or two IMO).
What happened to it being a solid "investment" and all? Those, actual "investment grade companies" IMO don't run on "being promoted" and require some big "news hype" to get them so "spike" way up and all, only to then rapidly collapse each time afterword in these violent see-saws and yearly swings of 85% or greater swings, only to revisit their near all, all, all time lows- at least not in my book?
Not "getting it" here on this one, I'm confused I guess? Gamble trading versus an "investment"??
No opening trade today? Volume is at zero after market open.
For weeks now it's been posting an opening trade often within seconds of 9:30 AM Eastern, or at most maybe 1 minute. Right now, naughta.
It just gets more and more interesting IMO. So it sinks huge on very high volumes after the big PR run-up after hitting its near all, all time low where it had gone from extremely high volumes then back to several days of very low volumes. Also started some of the ole "flat-lining" again where it sits w/o a single trade for sometimes 1 hour to as much as 2 hours sometimes in the middle of the trading day.
Now is the supposed "big day" and it's parked w/o so much as $100 bucks traded out of the gate at the open- just zero volume?
This one's a wild one for sure? More like a Vegas Casino to me than any "investment" based on the violent, ultra fast moving wild swings in it's day to day and weekly trading (50% swings in a matter of days - holy cow), the ultra ultra wide spreads often used and how it can go ill-liquid and sink like 15% or 20% after a bunch of buy orders just got filled.
Wonder how long it will take to post the first trade of the day?
There it went finally. First trade at 9:41 AM Eastern. So it took 11 minutes to get first trade to post- that's moving pretty slow for the "big day" I think? First line on the daily chart is a red, round lot 100K share sell, but they moved the stock "up" .67% and now bumped that initial bid of .0141 up a bit- looks like the MM's are gonna "work it" a bit maybe. Try for the spread and push it up a little initially- that first bid of .0141 was well below yesterday's close, now they moved everything "up" a bit- despite a large first sell showing on the daily chart? Wild Wild West.
Only about $1,500 traded but the MM's are really trying to push it up a bit looks like now moved Bid to .0151 and Ask .0159 (pretty wide spread w/ that initial low bid of .0141 never filling but moving right up on really almost no buying?)
Oh, now it just flashed a blue (buy spike) 250K share order- but it looks like that's sinking the price all the way down on the daily chart- down to what looks like around .0136 which is below even the current bid that was posted and way below even yesterday's close??? How does that work?
Looks like another wild day ahead I guess. So smaller sells and it moved "up" and now a bigger buy and some very, very tiny sells from what can be seen on the daily chart and it moves way down? Ya need a seat belt on this ride- fully strapped in. Bid just dropped back low again to .0141 with ask still way out there at .0158, going full wide spread on the MM's now.
Wild baby.
Quote: "If Patriots win today BHRT goes to .10 next week in my opinion."
I'm pretty sure from watching the game myself that the Patriots won it.
It's mid "next week" already. Any further "predictions" on when BHRT is going to hit that price of .10 ?? I'm seeing below .0160 on my screen right now, with a day's Bid as low as .0120 ?
I've personally never used the "Who wins the Superbowl" stock price picking or prediction method- but find it very fascinating.
PR and news???
I thought they, OCAT were under some mythological "quiet period" and "lock up" and all the rest and that some super special important dates were "projected" to now be like 2 weeks away- when mgt could "talk about big things and release news" and all?
So what gives? All that was just another myth- the bogus waiting for more supposed "special" future dates when "big news" was supposedly then "able to be released" and all that?
I'm confused? Isn't this a PR, a PRESS RELEASE, like TODAY, like NEWS TODAY? What happened to the "special dates" because of "quiet period" and 2 weeks away and all that?
What did I just miss here?
Bingo !! VP OF MANUFACTURING??? What the heck do they actually "manufacture" that has a business operations unit large enough to need a Veep level position?
How many 100's of thousands of sq-ft of "manufacturing" floor space is involved, how many $10's if not $100's of millions in "manufacturing" does this business unit presently do, etc?? A Veep for what?
This IMO, is a "supervisor" level position at best at this point- or would typically just be rolled up under the responsibility of someone already in the company- say a tech/engineering person with a strong quality background.
Veep at this point = MONEY PIT IMO. Just more passing out the perks n goodies to the old boy's club. I'd love to see the numbers on dollars "manufactured" annually, the floor space size, clean room size and clean room levels, how much automation they're using or not, how complex their process control is for "manufacturing" (as is in how many steps, how much real time process control, size of quality control portion, etc) regulatory issues with their "manufacturing space", employee head count dedicated to "manufacturing" etc.
I just can't see how this is a highly paid Veep spot at this point? Makes ZERO sense IMO. None.
Quote: "Yes getting close now when $OCAT mgmt can finally officially update the shareholders. "??
OCAT mgt can "update the shareholders" on any material event at ANY TIME THEY WANT OR NEED TOO? Actually, they are required to "update the shareholders" as to any material event.
What does "getting close to when" even mean? Close to what? They, the mgt can update and have been "updating" as in releasing PR and doing presentations and attending conferences and who knows what all else- near continuously all the past several months. What is there to "update on" supposedly that they have not already done?
That makes no sense?
Quote: "$OCAT..WSJ is indicating FY 2014 earnings on 02/26/2015 "
1) The stock symbol is OCAT (no "$" involved. It's meaningless to state it as $OCAT, like trying to hash tag it or whatever). The stock symbol correctly stated, and the only one recognized as quoted by the OCT or even if it ever manages to make the NASDAQ is, OCAT. Period.
2) OCAT HAS NO EARNINGS. OCAT has only large losses. They will be releasing their financial statements, not EARNINGS as they have no "earnings".
Quote: "So far news has been good. Doesn't make sense. Non-retail shorts covering perhaps IMO"
1) What actual "news" has there been, let alone any that was "good"? I saw a typically vague and vast PR with nothing concrete in it, especially details as to how any pie in the sky "plans" or vast "claims" will be paid for? Also, I saw the FACT that MIRROR, the big "phase 3 trial" never actually happened, was never "FULLY FUNDED BY BIOHEART" as claimed in the PR of approx. 1.5 yrs ago and also that the Angel trial, another highly hyped PR "event" was also CANCELLED and is now gone- even after further more recent PR about "Angel 6 month follow up", blah, blah, blah.
2)Not-retail shorts covering perhaps? What does that even mean? There are no "retail shorts" in this stock for all intents and purposes. And secondly, "short covering" = MASS and RAPID BUYING, not mass selling off as is occurring now? This isn't "short covering" aka buying, that makes no sense at all? The price would be going up on any "short covering"?
None of that statement makes any sense to me? I don't get it?
"$OCAT PPS keeps coming back to $6.21 the stated offering PPS for the 10 mil shs."
1) The offering is NOT going to price at market, at $6.21 or whatever- not a chance in heck. It will price WELL below market. There is zero correlation between the market price of $6.21 and the secondary sitting parked out there.
2) There is NO "lock up period" in effect now. That 90 day period simply says that if and when the secondary is placed and sold (which it has not yet) then the insiders can not dump/sell any "like shares" into the market. It's a simple clause that the underwriters don't want any competing shares being dumped onto the market (large option sales, think Lanza, or new finance deals dumping shares, etc) competing with them as they, the underwriters are in the middle of trying to unload 10 million shares for a profit. It's like a non-compete period, no selling shares in the market that may dilute against us, the "underwriters", that's all that 90 days means.
3) There are no magic dates, no "quiet period" whatever, no future magic dates- that secondary is live, it's out there, and could have placed or been sold at anytime. They either are having trouble selling it, or OCAT doesn't like the more than likely low price being offered and also the FINRA Dec 18th "we didn't really uplist" mess is now "out there" and who knows what that did to gum up the works.
All this other speculating and continuous speculation of supposed "magic dates" is just nonsense and originates from primarily one penny stock stem cell board, and it's always been 100% dead wrong to date. And is still wrong IMO.
There's those perfect, round lot sell blocks- 2 more at 200K and then 300K shares, like clockwork. Just sunk the bid back down to .0121.
Looks like the PR hype thing ran out of gas in the tank- when up against the reality of the massive share dilution and the convertible debt boys- the share price crushers.
Just too much massive dilution IMO. 100's of millions of shares issued out in less than 1 yr. A lot of those to convertible debt folks like Asher, Daniel James, Fourth Man and now the infamous Magna being on-board as the main finance house to BHRT. Magna the crusher as known in penny-ville legend.
BHRT already used the Magna "note", we know that from the SEC filings- the $200K "note" with the $300K face value (screwiest financial product I've ever seen or heard of, but that's just me) - but they used that and it's good to Magna for about 31 million shares.
Then the Magna "credit line" instantly gave Magna 9 million more dilutive shares just in up-front "fees" w/ a potential 15 million for in possible "fees/expenses" to Magna. That would be about another 9 million min and as much as 24 million more shares there. So that's about 40 million shares to Magna on the low side- all for $200K lousy survival bucks of cash- not even a fraction of the recent cash bonus awards ($800K in bonuses to two people, see last 10-Q SEC filing), huge "cash" bonuses just two people of 4 total "full time employees" in the company.
Then, if BHRT were to have "tapped" that Maga credit line- who knows how much dilution might have happened- especially if Manga used the "conversion formula" or "true up" date - whatever it's called in the prospectus, and did it near the low of .007 or anywhere under 1 cent a share.
Say BHRT went to Magna for $500K bucks- again, just a few months survival cash at most, and not even enough to pay the $800K in cash bonuses owed.
At 1 cent, that's 1 cent X .93 = .0093 a share that Magna pays.
$500K/ .0093 = 53,000,000 more dilution shares to Magna. 53 million.
So in the course of just a month or two- it's possible that Magna would have gotten somewhere in the range of 40 million + 53 million + as much as 15 million more shares = about 100 MILLION pure dilution shares all for giving BHRT maybe about $700K bucks, just a few months of survival cash, and not even enough to pay the $800K "bonuses" awarded to the two insiders- and then issued as "promissory notes" as BHRT has no cash to pay those "cash bonuses" (finishing last qtr with $46K total cash on-hand for their own 10-Q filing, see 10-Q for bonuses "promissory notes").
That's the reality IMO of what massive dilution does. 100 million shares in perhaps a month or two issued to Magna, and it doesn't even bring in enough to pay a few months bills, let alone fund "trials" or anything of that sort. Let alone all these new legal bills per this recent large lawsuit they're now defending and all.
Tough sledding ahead IMO, the dilution machine is going to be an ever present, constant down force to be dealt with the way I see it. I don't see any other way around the reality of that?
BHRT filed for $3 million from Magna and stated in the documents they plan to "tap" and use every last dime of that. That's going to be a staggering (more than the already staggering) amount of dilution going forward. I bet they hit 1 BILLION fully diluted shares O/S pretty darn quick here- like by mid yr probably IMO.
Bid just sunk to .0120 ?? What? Can that be right?
http://www.otcmarkets.com/stock/BHRT/quote
It's right there on the OTC site? Wow, that's a mega drop in a blink?
Wow, they ran it to .0229 only days ago on the big PR blast and now it's bidding at .0120? Wonder who's holding from .0229? Gonna be heading for a 40%, maybe even 50% loss in just a few days time if this trend keeps up- holy cow.
BMAK is back on the Level II again.
They moved way off (like 5 or 6 levels down on Level II) or just vanished for a few days during the bounce off the .007 recent bottom, but like this AM have started inching closer and closer down the Level II. Today BHRT opens with some selling right out of the gate and who's parked just two levels down the Level II? Ole BMAK.
They, BMAK, now just moved to sitting on the Ask. BMAK from all I could find/read is often the MM for Magna and also often rumored to MM for Asher too. You can Google um.
http://www.otcmarkets.com/stock/BHRT/quote
They, BMAK just moved in to sit on the Ask w/ 10,000 shares.
10K at .0160 = $160 bucks worth. Yep.
I think the "big boys", aka the convertible debt boys, the hedgey fund boys might be back on "their game" it looks like? BKMM moved off the Bid and BMAK came right on and sat that 10K block on the Ask, like a few weeks ago.
$160K bucks on the Ask and they just dropped it 10% in a blink. Wow.
And there's a perfect AM "red-line" round lot sell of 160K shares, just like clockwork each morning. I'm gonna start marking the time on um- I think they go off at pretty much exactly the same time, the first one, each AM (just what I observe, but it's been pretty darn reliable that each AM right about now- a perfect round lot like 160K or 300K or as high as 600K, red-line sell block pops off on the morning chart- for weeks and weeks now, except a few days here and there where "they" (Magna, Asher whoever this is) when they appeared to let it come up for a little air??)
http://www.pumpsanddumps.com/2013/08/a-closer-look-at-awesome-penny-stocks.html
Read down to the middle area of that article, the guy explains that BMAK is BMA Securities and claims they are often part of "toxic" aka convertible debt dealers like Magna, Asher, some group called Fairhills enterprises and others. His opinion on BMAK, not mine but very interesting reading IMO.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87854583
An I-HUB poster talking about BMAK, the market maker.
http://ihmvp.blogspot.com/2013/10/toxic-financing-deals-love-of-short.html
Quote:
"Dilutive MM shows up on the ask (e.g. BMAK or VFIN/VERT)
MM's such as VFIN & VERT work in tandem to maximize the pps realized for the group or individual selling the stock.
One shows on the bid to symbolize strength, while the other will show 10k on the ask so that those buying will buy at the ask instead of parking on the bid"
That article was very interesting to me- as they specifically discuss BMAK and a few other MM's being used in conjunction with dilution occurring via a "toxic finance" house- and specifically describes "putting 10K shares on the Ask" as a known technique that they apparently use. Just what happened this AM on BHRT. BMAK moved in and parked 10K shares on the Ask, aka $160 bucks worth and it's still sitting there on the Ask. That caused the Bid to drop to .0158 instantly.
Very interesting trading stuff IMO.
Qoute: "Whatever's Going To Happen, IsJust About To Happen
With OCAT, that is. "
Yeah, kinda like the Dec "uplist-but-we-really-didn't-uplist" and then into January and nothing; no uplist and no secondary offering and now it's February.
Yep, those old "predictions" have all been pretty much spot on so far? What were the price "predictions" just for the ole "big article" being published (the NON NEJM Lancet article, you know, another "prediction" that sorta missed the mark a tad)? Like $40 to $240 a share- just from that, the imaginary "biggest supposed article in like 100 yrs of supposed medical history", just that alone?
It's parked solid right now barely cracking $6 bucks a share (6 CENTS pre R/S) - pretty much where GARY had it like 5 yrs ago. You know, 2014 being the biggest imaginary year in the entire company history and the supposed like past 100 yrs of medical history and all. All those tall tales. Totally, yep.
And that "uplist" was a slam dunk done deal in 2014, 100% for certain.
Oh yeah. Just "about to happen". Yeah. Sure thing. Right on. Totally.
Stock is flat-lining again today - long periods with no trades posting at all.
Last trade posted was just minutes after 1 PM Eastern. It's now passing 3:30 PM Eastern, that's almost 2.5 hours w/o a single trade printing on the tape.
Pretty ill-liquid again looks like. All the big boy MM's who appear to be "gaming" this must be moved off it now for the day? It's only trading "up" on the ultra wide, low volume spread. That's about it watching the trades that printed.
They'are able to sink it 18% or more on a $300 to $500 trade- holy cow. Then trade it "up" on some $1000 share order- making the buyer pay that huge spread.
Very unstable it appears to me- wide, wide spreads on declining volumes and then sharp downside moves on very, very small dollar vol trades. Pretty dicey IMO.
Quote: "THAT'S SO SAD AND WRONG SINCE THEY HAVE PRODUCT THAT COULD HELP MILLIONS OF PEOPLE.. SO SAD....."
They have a "product(s)" that could help MILLIONS OF PEOPLE? Really? What is this myth based on? BHRT as far as I'm aware per their own duly filed SEC statements has NO "products" approved for use in humans, other than I believe a "catheter" which is nothing special and similar "catheters" are made by numerous other companies and aren't known for "helping MILLIONS of people"???
From BHRT's OWN SEC FILING, last 10-K, 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."
So what exact mythological "products" are these that are supposedly "HELPING MILLIONS" as claimed? Seems in 100% contradiction to their own SEC filing statements? Are they using un-safe, unproven "products" on humans? Is that the claim being made? That doesn't sound good at all to me- sounds highly unethical among other problems/issues I could see?
Quote: " Then now perhaps there is undisclosed funds now available for trials but not enough for Mirror and Angel on top of the others."
"undisclosed funds"??? How exactly do public traded companies have or keep "undisclosed funds"?? Do they have a secret money box they hide "off the books" somewhere or something?
They had $46K cash, total left on-hand as of the last 10-Q. Since then- they just tapped Magna, one of the most desperation lending firms and OTC company can use- and they did it for a $200K "note" at horrible terms and then a $3 mil "credit line" that has numerous restrictions on it as to when it can be tapped, it even limits other financing from stepping in to first positions ahead of Magna now, and all kinds of other restrictions.
What "secret sauce" funding does one speculate they're hiding somewhere? When and how did this supposedly occur and not get disclosed as a material event on a SEC filing or similar if it was even remotely true?
How exactly would that work, again for a public trade stock company?
I'm confused I guess? How does "undisclosed funds" work exactly? Oh, and how bout that original MIRROR PR that went out of its way to proclaim, "FULLY FUNDED BY BIOHEART" when it was never really funded at all, now was it? Over 1.5 yrs later and "FULLY FUNDED BY BIOHEART" is now proven to have never been true at all IMO. I mean their own words and documents, public documents make that beyond disputable IMO. It's crystal clear when I read what transpired- MIRROR was never "FULLY FUNDED" and IMO for all intents and purposes never even happened. That's what I think.