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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.
"restarting The Marvel trial yeeeeaaahhhh. "???
Really? When is that supposedly going to happen and funded with what???
Kinda like the ole MIRROR TRIAL, like that?? Let me guess- they'll "enroll ONE PATIENT" in this Marvel trial, then bait the shareholders by putting a one-liner in every SEC filing for the next few yrs that it's "waiting on funding" and then just cancel it in a few yrs, you know, the MIRROR "model" they just used.
Here is the factual history of the MIRROR trial, the much hype ole "Phase 3, FULLY FUNDED BY BIOHEART" (you know, the trial that NEVER ACTUALLY HAPPENED, despite some really "yeaaaaahhhhh" sounding ole PR talk".
1) The original MIRROR PR and the grandiose "claims"
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
Sounded real impressive. Wow. PHASE 3, "FULLY FUNDED BY BIOHEART" (all except the pesky reality that it never really happened so it couldn't have been you know, "fully funded" - but hey, never let a good sounding PR hype go to waste I guess, what do I know?)
Notice the cool wording like "up to 35 centers" in North America or whatever. That's called legal-eze IMO. You see "up to 35" means anywhere between ONE and 35. Well, the Pr came "true" as ONE CENTER in ole Mexico "enrolled" ONE patient- so technically, they probably legally covered themselves. And the safe harbor jargon probably covers the rest of the reality it never really came true.
2) And look at this "yeeeeaaah" sounding language in that fancy PR- it was even supposed to "compliment" the ole Marvel, the trial that's now supposedly supposed to "re-start" at some point, the ole, "We'll LET YOU KNOW AT A FUTURE DATE POINT". You know what a future date is in legal-eze? It's anytime between the day that PR was issued on Jan 25th, 2015 and basically until FOREVER. FOREVER in the future is a "future date". Again, written in true legal-eze beauty IMO.
From the original MIRROR PR- sure sounded great:
" The first patient has been enrolled in Mexico at the Hospital Angeles with the Regenerative Medicine Institute (RMI). This study will complement the data completed in the Phase II/III MARVEL trial on patients with congestive heart failure (CHF). Patients are randomized into either the treatment (2/3) or placebo (1/3) arm."
Aaah, but it never "complimented" anything with old Marvel, cause MIRROR never actually happened, now did it? But boy, the ole PR sure sounded good, at least to me.
Now comes the latest PR, the big "update" of all this new stuff, and oops, the ole one liner that quess what, MIRROR IS NO MORE, it's cancelled. No explanation, no why or how, just GONE. Vanished after never even happening in the first place? How can that be? Not like it went 50% of the way and stopped or something, but just cancelled and gone. No how much confidence I have in ole Marvel "re-starting" at some "future date" based on a bunch of hypotheticals needing to happen- per their own PR wording? Me personally- I'd give it less than 10% chance to ever see the light of day IMO. From what happened to MIRROR and how it was pitched and hyped- my confidence in Marvel is close to nil.
Even the most recent 10-Q still had that ole MIRROR phase 3 "carrot" dangling out there- sure sounded good IMO.
Last filed 10-Q, 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."
So in 1.5 yrs or so they could NEVER FIND OR SECURE FUNDING FOR MIRROR PHASE 3 TRIAL- but one is now to believe Marvel is suddenly going to be "funded"?? LOL, really? Really? Reality, MIRROR just got CANCELLED and never got "funded". But now Marvel supposedly will? Really?
http://finance.yahoo.com/news/bioheart-updates-diversifies-clinical-development-150000986.html
Jan 25th, 2015 PR with a bunch of new grand sounding plans- but stacked full of maybes, we believe, we hope to, the company plans to, if financing blah, blah, if this then that should might happen, we're planning to if, this should maybe happen, etc, etc, etc. Oh, READ THE SAFE HARBOR DISCLAIMER AT BOTTOM.
Oh and MIRROR and ANGEL are gone, cancelled.
From the PR Jan 25th quote:
"The Company has no further plans to advance its ANGEL and MIRROR clinical development programs."
MIRROR, it tells me pretty much all I need to know. My belief in the vague, vast, carefully worded "claims" in this Jan 25 PR, not much, like pretty close to zero. If one parses all the wording in this latest Jan 25th Pr, there's no financial specifics, everything is extremely carefully worded IMO to be vague enough to not be promising or even making concrete any single thing, timeline, date or any other marker that could later be measured or shown to have not come true- cause the PR is so vast and so vague- that if none of it ever comes true- they're 100% covered via the way it's worded, just like the MIRROR PR was structured.
That's my 2 cents. I wouldn't be surprised at all- down the road to see a big PR campaign similar to "ONE PATIENT ENROLLED" or something like that, but this time re-birthing the Marvel trial, and then that will probably be the end of it IMO. Myocell isn't even under patent anymore and all the key licenses related to it have all lapsed- the PR even says they'd have to "get a bunch of stuff back in place" (paraphrasing) before they could even re-start Marvel. That IMO means those lapsed licenses- and I just don't see that happening, let alone why pursue it when it's no longer even got patent protection?
From their own 10-K filing:
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."
Marvel is Myocell- they're one in the same. The Marvel trial is all based on Myocell- the no patent, licenses lapsed platform. So why would it be funded and pursued now? Makes no sense at all to me?
Same 10-K filing 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.
And so now Myocell, aka Marvel is all somehow going to be resurrected after basically being parked for about FIVE YEARS NOW, and supposedly "funded" when MIRROR couldn't and didn't get "funded" and all this despite Myocell no longer even being under patent, with lapsed licenses and serious adverse events and all? Really?
I don't get it, not in the slightest? Again, the "WE'LL GIVE YOU MORE INFO AT SOME FUTURE DATE" line in that vast/vague PR is pretty much the key line in the entire PR to me. That's my opinion and feelings on it. Just me.
"Yup, scary stuff". See that one- they just sunk it back down 18% again, right as your post came up.
.0190 to .0159 and it's a micro-blip trade. Looks like maybe 25K shares tops, which would be about .0159 X 25K = $397 bucks, if even that.
They slammed it down 18% on less than $400 lousy bucks. Wow that's playing with fire to me. And as stated before- if one had a large position, say from last week, and now wanted to get out- these MM's, often, simply won't give a fill until they keep dropping the price on ya, till they get the spread they want on it.
Sell orders can just sit sometimes for an hour or more- until the seller keeps notching the price down to where the MM is willing to give a fill. It can be an enormous spread sometimes to get them to make that fill. They just let the order sit and leave it parked there until the seller is willing to keep ratcheting it down, down, down until it will fill. It's pretty darn ill-liquid. What looked like maybe a 20% profit can evaporate if one's trying to unload say $10K worth- as that's a big part of a day's dollar volume on this one. The MM's just won't fill a $10K sell at what looks like market most times- they're gonna wanna take it down for that amount of dollars. And $10K is nothing when not on the OTC.
You take any listed stock- you can put a $10K order to sell in, and it'll fill at the displayed quote in a micro second. Not on these thinly traded OTC plays. It's a gamble to "hope" one can make enough of a gain- like 50% to 100% on a larger dollar amount, that they can then sell out of that positions without self-burying their own gain when their own shares go up on the sell side. Pretty wild, wild West stuff. Vegas baby.
Auger, totally agree.
Two perfect red-line (round lot) sell "prints" now- one for 300K shares looks like and then a 400K, just like clockwork. Really "working it" here IMO.
Looks like BMAK is lurking a few levels down on the level II again (BMAK is believed to be Magna from all I could find).
Also, BKMM is back-on heavy as an MM, and they'd vanished for a bit. They seemed to have appeared during the crusher weeks- a few weeks back. They're BNY Mellon who appear to have everything from broker-dealer and trading desk "stuff" to "wealth mgt" as in maybe they unload for large clients, etc
http://www.otcmarkets.com/stock/BHRT/quote
Just look at it right now- it supposedly prints at .0190 supposedly "up" like 18%, but then the bid is parked at .0159 and the ask at .0179?? Talk about brazen MM's just yanking and banking and playing this thing? Like I said- it's like stepping in front of a bus IMO. They can cut n mow this thing on a $500 buck or less trade- and did it a few times already this AM. Then "game it" back to supposedly being "up" like 18% but the bid doesn't budge even one iota off the day's bottom? I don't even know how that can be called "making a market", let alone an orderly or fair market? Pretty wild stuff- but just OTC classic IMO. Too the tee.
Quote: "GREAT WEEK FOR BHRT!! ONLY GOING TO GET BETTER WITH MORE REVENUE!!! Great staff with smart smart people and great pipeline which will make it eventually. Just gotta keep scratching and clawing like they have done the last decade. They were doing such with no sales. Now they are continuously bringing in more money and eventually more money will be made than outgoing monthly debt and grenier pastures with more financiers and phase 2/3 will be started... Not something that happens overnight!"
1) There's no proof a shred of that is true. So far, "revenue" made no difference- as they spent more and had greater expense growth than any "top line" revenues coming in? Also, back out the high cost of sales and the picture looks even worse (See last filed SEC 10-Q PAGE 5 and increase in loss from operations, NOT a decrease from "revenues"). Just the cash bonuses paid out (they had no cash so they're now paid as debt/promissory notes owed, meaning those bonuses now earn interest and will get paid out of any cash coming in before any R&D or actual trials or research or similar)just those "bonuses" consume any bottom line "revenue" results for the most part. Meaning any cash that might of come in- is for all intents and purposes already spent and owed to those two insiders. READ the SEC filing.
2) Hacking the R&D budget to near zero (less than $3K a month, see last 10-Q SEC filing) and they're still not even remotely close to cash flow positive- but just put out some supposed future laundry list of supposed "new trials" to start, but gave no specifics, no details on how they'd be funded and said "We'll let you know at a FUTURE DATE". Well, MIRROR was a supposed phase 3 trial and it turns out it NEVER HAPPENED and never was "FULLY FUNDED BY BIOHEART" as was "claimed" in PR originating about 1.5 yrs ago. The "We'll let you know at a future date" ole update on that one is CANCELLED and by the way IT NEVER EVEN HAPPENED. What credibility is there that any of the vast claims of supposed "trials and projects" released on Jan 25th will now happen? How is it MIRROR was so hyped, so promise- but in reality never even took place? How can that be? How does that work?
3) Grenier (greener?) pastures with what supposed "financiers"? Where? When? Which ones? What are the names of these imaginary "financiers" and how much are they supposedly "financing" and at what terms? Dilutive, highly dilutive like all the rest going back 4 or more yrs, like those? What "financiers"?
4) It's not true they had "no sales" in the past? Read all 10-K's and 10-Q's going clear back to when Leonhardt was CEO. There's been sales before- that's a 100% false statement. What proof is there that this is some "smart smart" or whatever "staff"?? No one on "staff" has any experience or track record at ever getting a product through the FDA gauntlet to a successful FDA approval- per their own posted resumes. The entire company "staff" right now per their SEC filings is 4 full time employees- two of which are getting annual base pay and bonuses totaling $1,575,000 now per the last 10-Q SEC filing (consuming a huge part of any cash coming into the company), all from a company that's essentially cash broke at any given time per their own SEC filings and numerous "going concern" and "liquidity problems" warnings (finished the last qtr w/ $46K total cash on-hand despite top line "revenues"). What supposed "smart smart" and all- what proof? The common stock has lost over 99.7% of its value since going public in 2008. It was delisted from the NASDAQ only one yr later in 2009. The stock has lost about 98% of its common value under the mgt of the present CEO as we passed through probably the greatest bull market in world stock market's history. What "smart smart"- what proof is there of that? They have a history of defaulting on key loans like the B of A loan- leading to near BK and insolvency. They presently operate under a "going concern" warning in every SEC 10-Q or 10-K filing, saying their financial liquidity and solvency is highly questionable. What "brilliance"?? What proof of that exists?
5) Again, there's no proof yet that anything has "gotten better with more revenue"- what proof is there of that? Where?
From the latest filed 10-Q, the one followed by several PR boasting of "revenue"- here's what the SEC filed 10-Q had to say about the reality of their situation:
10-Q, latest:
PAGE 4:
Cash and cash equivalents: $46,592
Accounts payable: $2,068,256
PAGE 5:
Net loss from operations period of 2013: $(1,067,153)
Net loss from operations same period of 2014:$(1,466,732)
(LOSS got larger despite "revenues" as expenses grew more than "revenues", and that's despite R&D spending getting hacked out by over $400K, an easy way to sand-bag the loss to look smaller, but sending nothing to R&D spending, aka "trials" aka explaining IMO why MIRROR was never "FULLY FUNDED BY BIOHEART" as claimed in the original PR)
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."
(a staggering, massive amount of share dilution more than doubling the O/S share count in less than a 1 yr period- and despite all that dilution, despite hacking out R&D spending down to near zero, they still finished that qtr near cash broke with $46K left on-hand against just accounts payable of $2 million plus dollars and now $800K in bonuses owed a "promissory notes" as there was no cash to pay them when issued)
Yet despite being cash poor and not spending more than $3K lousy dollars a month on R&D, aka "trials" being funded- they handed out enormous pay increases to only two select people, of a company of 4 full time employees:
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."
So they self issue huge pay and bonuses to themselves (those two make up 2/5ths or 2/6th of the BOD, the rest all being the NORTHSTAR LLC members) So while they're issuing huge pay increases and "Cash bonuses" while they've cut R&D, aka "trial spending" to near zero dollars- they then issue the following statement in the same 10-Q SEC filing;
PAGE 28:
"Our Ability to Continue as a Going Concern
Our independent registered public accounting firm has issued its report dated March 24, 2014, in connection with the audit of our financial statements as of December 31, 2013, that included an explanatory paragraph describing the existence of conditions that raise substantial doubt about our ability to continue as a going concern and Note 2 to the unaudited financial statements for the period ended September 30, 2014 also describes the existence of conditions that raise substantial doubt about our ability to continue as a going concern."
PAGE 36:
"At September 30, 2014, we had cash and cash equivalents totaling $46,592. However our working capital deficit as of such date was approximately $10 million. Our independent registered public accounting firm has issued its report dated March 24, 2014 in connection with the audit of our financial statements as of December 31, 2013 that included an explanatory paragraph describing the existence of conditions that raise substantial doubt about our ability to continue as a going concern and Note 2 of our unaudited financial statement for the quarter ended September 30, 2014 addresses the issue of our ability to continue as a going concern."
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."
THREE TIMES in the same SEC filed 10-Q they, the Sr Mgt, the CEO felt it necessary to use the words, "GOING CONCERN WARNING" and to discuss the doubt surrounding their ability to stay liquid and continue as a "GOING CONCERN" aka stay in business. And that's before they even had all these new lawsuit/lawyer fees they will now have with this large lawsuit they're now defending per recent public released info.
http://lawsuitpressrelease.com/investors-sue-bioheart-inc-millions-unpaid-debt
https://www.clerk-17th-flcourts.org/Clerkwebsite/BCCOC2/OdysseyPA/CaseSummary.aspx?CaseID=7862332&hidSearchType=party_case&DisplayCitation=no&CaseNumber=CACE14021256&SearchType=
There's ZERO PROOF IMO of any "greener pastures" or whatever? Where? Where in the most up to date SEC filing is any of that proven out to be true? Where? I don't see it and that's despite so called "revenues" and at the same time hacking out the R&D budget to near zero? When the R&D budget is near zero- what exactly is going to pay for all the pie in the sky dream talk supposed "programs" of the Jan 25th, 2015 "PR" release? How, how is all that going to get funded and paid for- like the MIRROR trial that never happened was "FULLY FUNDED BY BIOHEART" in their own PR wording? I'd love to see the details explaining all that? Lets see the funding details for that pie-in-the sky "chart" of supposed projects. What exactly, to the detail is going to fund them? How?
They just tapped Magna, one of the most desperation lenders/hedge funds an OTC firm can tap. Why? Cause BHRT is in supposed great financial condition from "revenues"? The dilution resulting from Magna (let alone Asher, Fourth Man, Daniel James, etc) is going to be a long term share price crushing IMO. That's what I've seen with Magna "financing deals", numerous, numerous times in the past, from all different types of companies that relied on, needed Magna for survival cash.
My 2 cents.
SUNK it 25% already on a single sell order of about $750 bucks. Holy smokes that was fast.
Wow. Wonder who's stuck in this at .029 from last week- a 30% or so total loss in about 4 hours on Friday.
Today on-open, the MM's got a buy order filled at .02 then already brought the bid down to .0161 in a blink- a 25% loser, faster than one could spit.
This is like stepping in front of a freight train IMO when the MM's are playing wide-spread, lower volume, "gaming it" mode. It can move either way faster than one can blink and these MM's can sink it 25% or more on a $500 or even smaller single sell order many times.
Like high speed gambling more than any "investing" here IMO. Too fast right now for my tastes.
It's gotta be tough staring at a 25% loss about 2 minutes after an order filled- and it's so thinly traded those MM's would probably make one pay another 5% or more on the downside to get a fill if one turned around and went to the sell side just trying to get out of that position they just bought literally 10 minutes ago. Amazing.
They got the spread now at about 6%, after an opening spread of 25%?? Wow, how exactly is that an "orderly market"?? OTC-ville classic on this one right now.
BAMM, there's that perfect 400K spike just brought it right back to the bid at .0161, that perfect round number trade spike on the daily chart. Gotta check the level II MM list, but it looks like the "big boys" (Magna, Asher crew or whoever it is) is back "working it" for sure IMO. The perfect red sell spike- even number lots, 300K, 400K, sometimes 600K, ever day, near the same time, like clock work.
Quote: "This new hire is being hired to take OCATs clinical capacity
from 4 in America, and 2 in Euope, to 20 and 10. This is
x5, or a quintupling of capacity.
And take RPE product inventory from thousands to millions. "
WHERE is any of this MYTH stated regarding why this new Sr Mgt person was hired? Where?
Also, WHAT "product"?? They have NO PRODUCT?? They have no FDA or Euro or similar approved "product" and thus SELL NOTHING. What "product"?? Why would a company have "product inventory" when they HAVE NO SALES and NO SALABLE "product"??
What myth is this now? Where did this come from? Where is this published and public per the company's own statements? They're now manufacturing and supposedly going to sell an un-approved "products"?? Really?
That's fascinating "news" IMO- if one shred of the myth is true.
OCAT has top heavy bloat IMO. OCAT has what, maybe 36 full time employees I believe from last SEC filings?
But they've now stacked the "C" level mgt with SEVEN positions (a ratio of about 7 to 29 then??)- essentially seven VP level and above? SEVEN to run a company that for all intents and purposes makes nothing, has one very small facility, has no approved product(s) or any sales for the most part, has no real "operations" as they really make nothing yet, etc???
I've personally worked for companies, highly successful and extremely well managed and profitable public traded companies and one still private owned (a private owned, 100 yr old world wide medical products company who's parent company is Euro based, still run by descendants of the original founder, doing $5 Ba BILLION plus Euros in annual sales w 49 thousand world wide employees- w/ enormous facilities all over the globe and a product recognized in every hospital, every dialysis and every military med facility on planet earth) the other public traded firms had/have sales in the several $HUNDRED MILLION annually to $1 BILLION or more annually with low end 300, to 1000's of employees or more- and had less "C" level mgt than OCAT presently has. That's a fact. And these companies I worked at had true "global" operations, they owned and operated multiple manufacturing operations with 100's and 100's of thousands of sq-ft of operations/manufacturing floor space (typically even owning the dirt under um and all plant and equipment, meaning not subbed out) spread across multiple states and/or even onto other continents, they had enormous customer lists, global production operations, huge tech and engineering and operations and quality staffs (one, the private firm being FDA and Euro regulated for medical products), entire sales and marketing and service departments to support such global levels of sales and customer bases, etc.
And they operated with less than SEVEN "C" level positions. This company OCAT, IMO, is bloated top heavy and very self enriching to the top of the chart "boy's club" members. They self vote their own perks and pay increases for one thing- as they hold all the shareholder voting power the way it's structured right now.
Being bloated top heavy IMO when they for all intents and purposes don't even make sales, let alone make a freaking profit or have DIME ONE of positive cash flow- is a sign of gross company senior level mis-management. Bloated mgt structures are one of the first things that professional grade CEO/Sr level mgt sees, recognizes, and then chops, hacks, axes and cleans up when they're brought into a company. The reverse is happening here- OCAT is stacking the top while essentially nothing is happening. They have nothing to sell yet, no FDA approvals, no global operations, no customer support or sales and marketing or whatever yet- they're barely out of the science project lab stages still, but are loading the Sr mgt ranks as if they're running some massively profitable, sales and cash generating fantasy company? Make no sense to me, none.
Not a good sign IMO. Just more money they don't have being spent on who knows what (well other than those few, select insiders getting filthy flush while the common shareholders get a 98% plus loss to common shares since going public) ?
Quote: "John Heffernan has been marketing Carticel and Epicel for Genzyme since 1997 and obviously he wants to keep close to those deep business ties. In $OCAT he obviously senses new opportunities for his next stem cell product launch. Sanofi-Genzyme is located in Cambridge Mass so that it is an easy geographical switch to join $OCAT. Genzyme pipeline of interest as they are also researching AMD. "
How does one get these magic mind reading powers to make emphatic statements as to what another private business person OBVIOUSLY DID or DID NOT DO and for what reasons they OBVIOUSLY supposedly did it? How exactly does this work, these magic like "seer" powers? These myth based "powers" even allow someone to know that a business person has "sensed" something and made a personal life change and business decision based on what they supposedly "sense" about something? Wow, really?
What's OBVIOUS TO ME is it's easy to just MAKE THINGS UP OUT OF THIN AIR like OBVIOUS MYTHOLOGY.
No one knows why this "John Heffenan" dude did what he did and moved companies and why? No one on some stock msg board knows this person "obviously wants to keep close ties blah, blah, blah LETS JUST MAKE STUFF UP FROM NOTHING". Has John Heffernan published public statements somewhere "on the record" that emphatically state why he OBVIOUSLY moved companies and for what OBVIOUS reasons, etc?
If he has not made these statement publicly then OBVIOUSLY no one knows what they're talking about when they "claim" (as in JUST MAKING IT UP) claim to know why he's done what he's done in his personal life and business decisions and what he personally thinks about private matters, business matters, etc.
It's OBVIOUSLY a bunch of pure MYTH to claim otherwise.
Does adding the "$" sign in front of the stock symbol somehow IMAGINARY like make it seem like it's worth more than it is or something? The symbol is "OCAT", that's what's only stock symbol recognized on the OTC market and if it ever uplists, will bo the only valid stock symbol recognized on the NASDAQ. There is no market place that recognizes the stock symbol "$OCAT" or any U.S. market that I'm aware of that lets a "$" (dollar sign) be used in a stock symbol on a U.S. market? So why print it all the time? Is this really supposed to make it look more valuable or impressive or something than it's present $6 bucks, or 6 CENTS pre R/S?? Really? A little "$" sign??
LOL, " Additional information on the timing of patient enrollment will be given at a future date."
In other words, NO phase 3 is active, or exists, or is funded or is enrolling for what anyone knows as of right now. A nice "chart" or "table" in a vague PR. Remember, MIRROR, the PHASE 3 "FULLY FUNDED BY BIOHEART TRIAL" that was PR'd about 1.5 yrs ago and supposedly "enrolled ONE patient" in Mexico- it was described as "very similar" to the Myocell technology, blah, blah, blah (see yesterday's PR and any recent SEC filing like a 10-Q or 10-K) -well how did the MIRROR phase 3 turn out? How did that one go? 1.5 yrs of "we're gonna fund it" and "it's got ONE patient enrolled" and what did we learn in the PR yesterday??
MIRROR is CANCELLED and never really happened in the first place. That what. CANCELLED and vanished- no explanation provided. 1.5 yrs of just baiting everyone along, SEC filing mentions here and there, a grand PR way back when with bold, "FULLY FUNDED BY BIOHEART", appeared on twitter I believe and the Bioheart corp website - the whole shabang. And where did it ever go or what was the end of the ole MIRROR PHASE 3 TRIAL??
Me personally, not gonna hold my breath for that "future date"- I'm a pretty darn good swimmer, I'd say excellent and can hold my breath against the best- but I don't want to die from oxygen starvation.
Just my 2 cents.
Aug, totally agree. Extremely difficult to time it - when it's so ill-liquid and the swings can be super, mega violent fast. Like lightening fast. Unless I could park in front of a level II screen and never leave, literally not even for a bathroom break or to the kitchen (and I've done that in the old days) - it can be super risky.
With the ultra low share price and fairly high ill-liquidity, how much can one really make? It's tough to put-on more than maybe a $10K position and get it to fill easily, so what's 30% or 40%, maybe $3K, but that much and more can be lost if one turns their back on the screen for 30 seconds. It's super volatile when they game it like this. If one wanted to put say $50K on this, it's extremely difficult to get a fill quickly and then if it starts to drop- good luck trying to get out of that volume- they'll just keep moving the bid/ask on you, sometimes for an hour or more never giving you a fill. You have to drop way below price and then they "might" take it for any serious dollar amount- brutal MM's on these thin traded deals.
If I'd bought the perfect bottom- it'd be great. But with Magna now all over this one- it makes/made me real gun shy. Magna are a notorious wrecking crew, just a brutal hedge fund basically.
So, I don't know- I can't see pulling the trigger right in here. I think I'm gonna wait for the OCAT secondary to price (if it ever prices, sheesh !)- that's the biggest stem cell deal going right now IMO. Gotta see the secondary reaction though first for me personally.
300K, 400K and 600K sell orders right in a row. Sunk it like a lead boat anchor.
OUCH for anyone who bought that top. Wow, that was fast.
And look at the OTC quote- who just came back? MM BMAK, aka MAGNA. Yep, they had vanished for several days, or were at least parked like 10 levels deep with some nothing Bid/Ask way down the depth of the Level II.
Now, they just popped back up to the top, them and BKMM, among a few other notorious MMs. They're gaming this thing perfect IMO. Classic.
http://www.otcmarkets.com/stock/BHRT/quote
BMAK now moving in, parked on the Ask, looks like maybe capping it off for now.
Last few days, after the PR hype and all- it was just retail folks like E-Trade (ETRF) and the little folks playing. The big boy hedgey fund boys has for all intents and purposes backed out, gone off the level 2.
Looks like some "big boy" MM's from those hedge fund finance houses are stepping back into the game IMO. Gonna get real interesting to see where they take this now.
" update us even more on our phase 3. "??
WHAT phase 3?? They don't have any phase 3 that's active or in process? Where? When?
MIRROR just got cancelled after never even taking place? Which imaginary "phase 3" is this one now?
They have no phase 3 and no money for even a down payment on a phase 3 IMO. "We'll TELL YOU MORE AT A FUTURE DATE", well good luck with that one.
FUTURE DATE means anytime now and until the END OF TIME. Pretty much like the ole MIRROR "updates" went. The only "update" that finally came- was IT'S CANCELLED AND NEVER EVEN WAS "FULLY FUNDED" and NEVER EVEN OCCURRED IN THE FIRST PLACE.
Heck of a classic "final update" on that one. The best. One for the OTC penny-ville history books IMO. Never saw a better played PR hype than ole MIRROR, the "big phase 3" that was "FULLY FUNDED by Bioheaert". Yep. All except, right up until the part where it NEVER HAPPENED. CANCELLED, no further explanation to be given, thank you very much, have a nice day.
LOL, "I like the summary table from yesterday's announcement. "
Yeah, that must of taken what, like 5 minutes to make up out of thin air?
NOT ONE DOLLAR value or even ball park DOLLAR estimate in the ole "projection" (aka wild GUESSES IMO) ole table.
Lets see- Myocell (which is NO LONGER UNDER PATENT and for which all key licenses have lapsed by the way, see 10-K SEC filing) and it and Myocell SDF or whatever it's called- have sat parked, gone nowhere in FIVE YEARS essentially (read any 10-Q or 10-K filing).
But one is suddenly to believe that now they're gonna be approved by the FDA in 2019 and what is it- like 2021 on the other one or something? Via a company of 4 people total, who's essentially cash broke at any given time (finished last qtr w/ $46K total cash on hand against just immediate debts like accounts payable of over $2 MILLION and $800K in "bonuses" to just two people that went unpaid for lack of cash- but instead became a debt owed now via issuing those two a "promissory note")- one's supposed to believe one shred of that maybe, might, could happen, if this might maybe, and if appropriate financing and if we can get all the old stuff re-initiated and get back old lapses licences and arrange "internal" stuff and we'll LET YOU KNOW AT SOME LATER DATE?? Bwaah-ha-ha-ha-ha-ha.
Yeah, I'm gonna be holding my breath cause you know- they now made a "table" in a PR. Right on. How'd that ole MIRRROR and ANGEL trial "thingy" work out- the ones now CANCELLED, with MIRROR you know, "FULLY FUNDED BY BIOHEART" but you know, never really funded and never even really happened- that "little" part of the pesky details? And now this vast "table" of supposed "projects" for 5 or whatever things- way more complicate than ONE MIRROR trial- one is to believe they're all gonna happen now, and oh, "WE'LL GIVE SOME DETAILS TO YOU AT A FUTURE DATE"?? MIRROR was just given details at a FUTURE DATE, about 1.5 yrs later- and the dirty details were IT NEVER HAPPENED AS "claimed" in the vast PR originally put out about it. Sorry, just NEVER WAS FULLY FUNDED and in fact NEVER EVEN TOOK PLACE. Oh yea, a "table", super cool. Right on ! I mean if it's in a "table" format now- that pretty much means it must be all true and is gonna happen this time around?
Remember ole Northstar LLC "was" going to raise "$20 MILLION DOLLARS" in a secondary- remember that ole PR, cause I do? NEVER HAPPENED. How bout a $2 MILLION "term sheet" for ole "financing" was signed? What about that one- it also NEVER HAPPENED. Seeing a pattern here with vast, vague, "big claim" ole PR'S? How they just somehow never seem to come true? I sure do, I can list probably 20 of um in under 3 minutes- just vanished and gone and never heard about again. A "table", oh wow. Yeah, super neato.
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.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
All used to try and run the stock- just like now IMO. Same old, same old. They're surviving on Magna and Asher and the rest- they're just covering and making some coin here IMO. They'll notch it back down when ready.
From yr 2013 filed 10-K, various pages, not even Myocell SDF, the supposed "new one" or whatever it is- is even fully patent/license owned by Bioheart according to SEC filing, let alone the older plain Myocell. And Adipocell is licenses under some "term sheet"- which BHRT and "term sheets", well- look at the link above about their history of "term sheet" supposed "agreements"? DO they have a license, exclusive to Adipocell (which was Lipicell until Comella court case involving the license holder of Lipicell, see SEC filing txt which will be posted below)
From SEC filings:
PAGE 14:
"MyoCell SDF-1
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 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."
Notice yesterday's PR, Jan 25th, 2015 had a bunch of vague stuff about (paraphrasing) "We'd need to get a bunch of other people and licenses and re-engage blah, blah and organize internal stuff" BEFORE we could even re-start ole Myocell or Myocell SDF trials, but hey, "We'll LET YOU KNOW IN THE FUTURE AT SOME DATE, SOME FUTURE UNKNOWN DATE". See why now? Licenses have ALL LAPSED. Bioheart didn't "invent" and does not "own" much of anything of their own- they have nothing original really when one read their SEC filings. They just license or in the past bought patent rights to what others had invented- but that all has lapsed for the most part and/or takes a lot of money to keep those things current. Wonder why they haven't attracted any "big money" or "smart money" investors in FIVE plus yrs now- cause those folks do intense due diligence. Maybe they asked, "What am I investing in, or what would this company own- when you don't really own and haven't really invented anything of your own??". Ever think about that? Let alone that Norhtstar LLC holds a "lien" on essentially anything and everything BHRT could own, would own, would ever invent, etc (see 10-K or 10-Q and Northstar word LIEN).
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.
30
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."
Ever wonder why MIRROR never progressed and was an attempt to go outside the FDA bounds, via going to Mexico and similar? But now one is to believe that somehow Marvel or Regen or whatever are going to be "re-started" after sitting for FIVE YEARS and having patients deaths and serious adverse events? Really?
Read the MIRROR PR carefully- the line in it that BHRT never, ever "explained" about how they were "addressing FDA holds" or whatever the exact wording was- here's the quote (never explained as far as I know):
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
"The FDA has placed a hold on the request for an Expanded Access protocol using MyoCell in part because the proposed expanded access study would likely interfere with the clinical development of MyoCell and/or interfere with developing market approval. Bioheart intends to continue enrollment in the MIRROR trial while hold items are addressed with the FDA. In addition, Bioheart plans to initiate part 2 of the MARVEL trial using the J&J MyoStar™ Catheter to deliver MyoCell to CHF patients."
TWO years ago there were "FDA HOLD" issues to be "addressed" and also a "claim" that MARVEL was going to be "re-intitiated". Did MARVEL ever "re-intiated" as claimed, in that nearly 2 yr old PR? Did it? The company as far as I'm aware, never since has explained what "FDA HOLDS" meant or how they've been addressed or were addressed. And now, as of yesterday- MIRROR IS CANCELLED AND GONE, never to be heard of again I guess? Those "holds" and what they meant- will never be explained IMO. Just more vagueness and confusion to me.
PAGE 3, most recent 10-K and the ole "Adipocell" license- you see, BHRT din't "invent" Adipocell, they have a "term sheet" signed, whatever that is? And the "Lipicell license got dropped because Comella and the is being sued in Broward County by the owner of the Lipicell license- Dr. Sharon McQuillan. It's public info- the suit is on the Broward County clerk of the court site. So BHRT just dropped "Lipicell" and just re-named it, via the stroke of a pen, and then signed a "term sheet" for some other company's "cells" and now call it their own, aka "Adipocell"- which makes zero sense to me. What is "Adiopocell" even worth then- BHRT didn't invent it and doesn't own it, so how do they make money on it via clinical trials and all, long term?
PAGE 3, 10-K:
"AdipoCell
Bioheart has successfully completed various trials using adipose stem cells. In August 2013, the Company canceled its license agreement with the Ageless Regenerative Institute for adipose derived stem cells called LipiCell. Bioheart has entered into a term sheet agreement with Invitrx to License their adipose derived stem cell products. Bioheart has changed its adipose derived stem cell product name to AdipoCell.
Bioheart has funded and completed enrollment of 5 patients in the Angel Trial in Mexico utilizing adipose derived cells. Preliminary 3 month follow up data in the study was reported in September 2013. At the 3 month time point, patients are demonstrating an average improvement in exercise capacity or a six minute walk test of 47 meters. In addition, 60% percent or a majority of the patients are walking greater than 65 meters further at 3 months post stem cell injection.
The patients are also reporting an average improvement of 13 points in their Minnesota Living with Heart Failure questionnaire. An improvement of 5 points or greater is considered “clinically meaningful” and 80% of the patients in the trial had a greater than 5 point improvement."
A "term sheet"?? So does Bioheart even have an exclusive actual LICENSE to ole "adipocell"?? Does anyone know??
And now, ole Angel "trial" is also CANCELLED AND GONE as of yesterday's PR, Jan 25th, 2015. But one is now to believe that BioHEART, the supposed "heart experts" are just gonna take those old "Adipocell" cells and now solve ole CLI (chronic limb) problems with um? And supposedly "soon" per some imaginary "chart" in a vague PR?? Really?
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 that sunk ole "Lipicell" and then they just turned it into "Adipocell"- just like that, via a "term sheet" and a pen, I guess?
How bout the latest 10-Q filing, how is all this "stuff" in the Jan 25th 2015, vague and vast PR going to be funded? How?
PAGE 12, most recent 10-Q filing:
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."
So what's changed in the past 2 weeks or so? What? What exactly has changed because of a bunch of vast and vague "claims" and a "chart" in on PR issued on Jan 25th, 2015? Where's the financial details, not vague " we think and hope to maybe pay for all this someday", but the FINANCIAL DETAILS in that PR? Where, cause I sure didn't find any- let alone answers to the fact their key patents and key licenses have lapsed and expired and about 50 other simple questions one can find in their SEC filings, in every one of them going back 3 yrs.
Makes zero sense to me. Like MIRROR, just another vast, vague PR that I don't ever expect to see little of it, if any of it to come true per my own opinion and experience and thoughts from what they, BHRT has done in the past with similar PR and vast "claims".
My 2 cents.
"Ride that BULLL!!"
I think the correct word in penny-viile is "pump"??
But there's plenty of "bull" something with this one, that's for sure.
MIRROR was a pile of "bull" alright. Grade-A "bull".
"Convertible MMs letting it run so they can dump?"
Not a doubt in my mind. Those firms (Asher, Magna, Fourth Man, Daniel James) and all the other toxic finance folks that BHRT lives and survives off of- they're better than owning an ATM they make so much money off of these thinly traded, largely ill-liquid penny plays.
Look at what they do with the spread- they can open it up 15% using orders of less than a few $100 lousy bucks a pop. Then sink it just as fast using $500 bucks, at-will.
This is classic Magna being played out here IMO. Not a doubt in my mind- I looked at 20 plus "Manga" deals- all the charts and companies, and it's not unusual at all to "spike it" for each "cycle" in which they bury it. But the trend is still down.
Gamble away- it's fun as heck. This is penny OTC-ville in classic form. It's beautiful. Those guys that own and operate Manga and Asher and all- they live for these patterns. Who knows, maybe BHRT goes short their own stock even sometimes, with all those Form-4s and warrants and shares they issue out, nothing would surprise me. Who would or could even know?
Come on, a PR about maybe, might, perhaps could "buy-back" shares? Really? The company pays day to day bills in IOU's and shares of common stock- read any 10-K or 10-Q filing for the past 3 yrs. Pleeeaase. "buy-back". Notice how quiet the PR machine has gone- even when it sunk to near all time lows? And now, suddenly, a mass barrage of PR after PR and then the stock just happens to start to run again- and what month/period are we in? Look at a 3 yr chart- tell me someone doesn't "game" this thing. Look at where every historic low is made, then look at when they run it on a mass PR/Hype campaign each time. I know a pattern when I see one- 3 plus times in a row is a pattern.
As stated, gamble away- it's fun, why not. But "trials" and some "grand plan"- no way IMO. Not a chance. My 2 cents.
It's called paid promotion- come on. It's all over the penny boards. It's beyond obvious IMO.
You think this company is suddenly worth twice what it was when the toxic debt financing folks just buried it to sub 1 cent only a week or two ago? Really?
Hey, sounds good to me. It'll be going right back down when the dilution shares are sold- this is nothing new. Seen this how many times on this one? It's like a broken record. Vast PR hype claims after it hits a near all time low- it suddenly lights up every penny board there is? They even had to disclose paid penny promotion in several past instances.
What, the company is suddenly worth more today? Based on what? How much does one think they just tapped Magna for, for survival cash? How much? What's changed in a month about their desperate financial position?
What are they going to suddenly fund all these grand "plans" with- when those trials have sat parked for going on FIVE YEARS now for "lack of funding" and their own $800K "bonuses" just got paid via a "promissory note" cause they have no cash (see SEC 10-Q, latest)- what's gonna pay for this now?
Explain where MIRROR went? What happened? It was never "FULLY FUNDED BY BIOHEART" as the vast "PR" claimed- we just learned in that PR yesterday, Jan 25th, 2015 that for all intents and purposes, after 1.5 yrs of "talking it up" that MIRROR, the big phase 3 trial NEVER EVEN HAPPENED, it DID NOT OCCUR and was NEVER FUNDED, not by Bioheart or any one else.
If that original MIRROR PR and hype campaign and all those vast claims about made originally, versus what really we really now know occurred- if that isn't "troubling" then I don't know what is, IMO.
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
Then latest filed 10-Q, 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."
Then, REALITY from yesterday's ole "PR", Jan 25th, 2015:
"The Company has no further plans to advance its ANGEL and MIRROR clinical development programs."
Yeah, nothing wrong with that picture, Noooo. Sure. Just vanished- an entire supposed phase 3 trial, that it turns out- just NEVER WAS and NEVER HAPPENED. Right on.
LOL, Bid .0165 and Ask .0185?? Holy cow- they're seriously trying to run another pump on this one. Amazing the brashness of the spread.
All linked and timed to the ole BHRT PR HYPE as usual. A bunch of vague, vast, broad PR's about pretty much NOTHING IMO. No dollar values or financial details given- and even a great one-liner of "We'll GIVE YOU MORE DETAILS AT A FUTURE DATE". Bwaaah-ha-ha-ha-ha-ha.
Yeah, we just got the MIRROR ole phase 3 trial that "was" "FULLY FUNDED BY BIOHEART" - we just got the 1.5 yr "We'll LET YOU KNOW IN THE FUTURE" ole update on that one- and it NEVER HAPPENED is what the "update" was, despite the vast and glorious claims in the original ole PR.
Hey, remember the Northstar LLL "was" (like it NEVER HAPPENED) but "was" going to "raise $20 MILLION in financing" - remember that one too? I do. How was the "we'll update you at a later date on that one"? NEVER heard about again was the "update" and outcome.
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
http://www.marketwired.com/press-release/northstar-launches-20-million-private-placement-round-with-proceeds-fund-bioheart-trials-otcqb-bhrt-1713163.htm
How bout this one, the ole "term sheet" ole "financing" - ever get an "update" on how that one turned out? WHAT are they gonna finance this broad and vast PR with from yesterday- notice, not ONE DOLLAR VALUE listed in the entire PR, but a wash-list of all these grand maybe, we might, we plan to, we hope to, we think we can probably, if this then that might happen by we hope year 2021 or whatever. But NOT ONE DOLLAR figure given- not one. NO cost estimates or a single explanation yesterday of how any of it is going to be the magic word "financed" and paid for- not one detail of that part of the puzzle, as usual. Just vast "claims" and "We'll GIVE YOU MORE INFO AT A FUTURE DATE". Right on. Perfect.
http://www.marketwired.com/press-release/bioheart-receives-2-million-term-sheet-investment-offer-from-vitalmex-global-leader-otcbb-bhrt-1686526.htm
Vast and vague, just like the MIRROR, ole SMOKE AND MIRRORS trial, the big phase 3 in North AND South America that just never was, never even happened. CANCELLED yesterday in that Jan 25th, 2015 PR and not one word of explanation how "FULLY FUNDED BY BIOHEART" turned out to be not "funded" at all- in fact it just never even took place or even occurred for all intents and purposes.
How exactly does that "work"?? How?? How does "FULLY FUNDED BY BIOHEART" an "ENROLLING" just turn out to be it never even happened? How?
LOL, "When you keep messing with the bull you eventually get the horns"
A company that's lost what, about 99.7% of its value since going public in 2008 is a "bull"??
And it's ONLY lost about what, maybe 98% of its value under the "leadership" (cough) of the present CEO? .50 cents or so in 2010 when he took over to now about 1.5 cents, with a recent low of 7/10th of ONE CENT only a few weeks ago. That's some "bull" alright.
The ones getting the "horns" are the common shareholders. Over 300 MILLION shares in dilution in just the past 1 yr (see last file SEC 10-Q). And what, maybe 30 million shares in 2010 when the CEO too over to now about 650 MILLION plus fully diluted shares, all as the common share price and market cap have massively collapsed? Yeah, a real "bull" success story alright? What am I missing here?
Yeah, some real "bull" here alright IMO.
MIRROR "phase 3 trial" is UP IN SMOKE, like SMOKE AND MIRRORS I guess?
It just never happened and never was FULLY FUNDED BY BIOHEART now was it??
I'd love to see that one explained, really would love it?
Most recent 10-Q SEC filing, 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."
Initial MIRROR hype PR, from over 1.5 yrs ago:
"http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
"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. The first patient has been enrolled in Mexico at the Hospital Angeles with the Regenerative Medicine Institute (RMI). "
Now today's PR, Jan 25th, 2015 (aka TRUTH COMES OUT)
"The Company has no further plans to advance its ANGEL and MIRROR clinical development programs."
Well, since MIRROR NEVER ACTUALLY "advanced" in the first place- beyond a vast PR HYPE IMO, I guess there's not much to stop now from "advancing" now is there?
How can this be justified? The original PR MIRROR hype, then 1.5 yrs of SEC statements "baiting" the shareholders that it was still "on-going" and going to "get funded" to now the reality today; the oops, you know what, "We just CANNED WHAT NEVER REALLY WAS IN THE FIRST PLACE". The ole free mulligan I guess, eh? 1.5 yrs of just "minor" ole pesky mis-statements I guess?? FULLY FUNDED but NEVER FUNDED- ah, heck, just some pesky ole word play, right? What the heck- what's it all mean in the end, right? FULLY FUNDED, patients enrolling, vast patient counts, 35 "centers" around in North AND South America, patient supposedly "enrolled" in a PHASE 3 trial, heck- who cares that it NEVER ACTUALLY HAPPENED, RIGHT? It's all cool, no sweat, it's good, it's all right. No sweat IMO.
Heck- just a few misplaced words on some old PR's and 1.5 yrs of SEC statements I guess? Right? I mean I don't "get it" and am very confused by it- but hey, that's just me I guess? The ole PR HYPED PHASE 3 THAT JUST NEVER WAS and NEVER WAS "FULLY FUNDED BY BIOHEART". What the heck- one for the history books I guess?
So FULLY FUNDED MIRROR trial was never actually "fully funded" and never even occurred then per today's PR release?
Amazing. And no explanation of why it was cancelled or never actually happened as in the vast, vague (remember the words "up to" in the PR, those famous words that mean between one and "up to"??).
From today's PR:
"The Company has no further plans to advance its ANGEL and MIRROR clinical development programs."
From the past PR's hyping and promoting MIRROR and ANGEL and even used to try and run the stock IMO. Now, where did they go and how did those PR turn out? Where they "true"?? Was MIRROR ever "fully funded". Did MIRROR ever really even take place?? I wonder if the "one patient enrolled" in MIRROR even actually took place? Remember that? I do.
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
https://www.facebook.com/BioheartInc/posts/638815526143345
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
ANGEL, the also much hyped trial- used to run the stock on penny promo boards, also just "vanishes" today with no explanation. Cancelled per the PR today.
Yeah, tell me there's nothing wrong with this picture? Sure. I know what I'm doing with all this info.
My 2 cent opinion, still more than the value of a share of hyped up BHRT stock, LOL.
"What did ever happen with Mirror, I kind of forgot about that?"
What happened to it? They HYPED IT (using the nice term, the "L" word would be more my opinion) and then it was NEVER HEARD ABOUT AGAIN.
ONE patient "enrolled" then touted over and over as "restarting soon" as "soon as funding" blah, blah, blah.
Sound familiar? They plastered the words "phase 3" into the PR about it to help run the stock back then- it was OTC-ville classic PR. Big words, "FULLY FUNDED BY BIOHEART" all except the part that it was NEVER FUNDED and in fact never even happened. How's that for credibility? Just a tad of a "problem" maybe?
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
Last filed 10-Q and in every SEC filing since the MIRROR PR hype was released:
PAGE 29, latest filed 10-Q:
"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."
Oh, BUT WAIT- as of today's PR HYPE, as of Jan 29, 2015, ole MIRROR JUST GOT FLUSHED, after never actually happening in the first place. Again, I know what I call that- there's a few specific words to describe "claiming something" as true that's later proven to be 100% false- I know what I call that. Especially in terms of a penny stock.
From today's PR, Jan 29th, 2015:
"The Company has no further plans to advance its ANGEL and MIRROR clinical development programs."
END OF TALL TALE PR HYPE STORY of "MIRROR" the phase 3 that NEVER HAPPENED. ONE patient "enrolled" in ole Mexico. A pure PR hype "event" and nothing more IMO. All the facts of the PR versus the reality of the SEC statements and now today's PR prove it w/o any room for ambiguity or question. They NEVER "fully funded the Mirror trial" - they never even conducted it. Just a PR ruse IMO. All documented and recorded for all of history now. Immutable truth- it never happened as the initial PR claimed and was never "FULLY FUNDED BY BIOHEART" as boldly proclaimed. Simple as that.
How anyone can think that's a "minor issue" is beyond me? Also, the ANGEL trial was much hype and also used to help "run the stock" and it too is now just GONE, over as of today's PR with no explanation added. Just gone. Did it ever even happen? Any proof anywhere? 5 supposed people in Mexico and a lot of PR, including about supposed "follow ups" and incredible "progress" and "great results" etc and now they just flush it? It was using Adipocell- the very product they claim in today's PR is supposedly going to continue to be "advanced"?? So why would the key "adipocell trial", the ANGEL trial- now be just vanishing, cancelled with no further explanation? Why?
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
Quote from PR on now vanished ANGEL TRIAL:
""The six month data has far exceeded our expectations. We were excited to see that patients continued to improve from 3 months to 6 months demonstrating the power of a biological product which can actually remodel tissue and change the course of a disease," said Kristin Comella, Bioheart's Chief Science Officer. This phase I study will provide necessary safety and preliminary efficacy of adipose derived stem cells (AdipoCell™) in patients with congestive heart failure. Endpoints include safety, exercise capacity, quality of life, and ejection fraction at 3 months, 6 months and 12 months. "
But today's PR, Jan 25th 2015 "claims" they're supposedly moving ahead with ole "Adipocell"?? So why would this supposed key ANGEL trial now just be dropped? WHERE was the Angel trial data ever published or released to show and prove it ever even took place? Where? Is it in any journal or scientifically presented format to be peer reviewed?
Look at today's PR and the claim that "ADIPOCELL" is still supposedly "moving ahead" or whatever:
QUOTE:
"Also in the cardiovascular space, Bioheart plans to advance an Adipocell(TM) based product candidate forward for the treatment of Critical Limb Ischemia (CLI). "
What? So they dump Adipocell for the "heart" the ole ANGEL trial- the 5 person highly hyped multi PR blah, blah. And now just shift it over to the ole supposed CLI whatever? What experience of the 4 person staff at Bioheart- has any experience with CLI? How's that gonna supposedly work out? How much is it going to cost and over how many years, etc? Total pie in the sky pipe dreaming again. HEART was their supposed expertise and company background. So they flush Adipocell trial, ANGEL, that was highly hyped in the 6 month "follow up" ole PR, and now just dump it and can take the same product and supposedly just inject away now for CLI, just like that? Sure. Right on. Sounds like what- another PR that will fade away within a yr or so? Don't they all, all the big "PR's" just always fade away?
Find me a big PR hype from BHRT that's ever really come true- regarding "big financing" or any "financing deal" really, or any "trials" that progressed and got "funded" as any PR of the past 3 or so years "claimed" or any major clinical program they have that's "progressed" toward FDA approval as promised in too many PR's to count, etc. I'd love to see even one instance- cause I can't think of a single one and I've read um all, every PR and then followed up on every later SEC filing, etc and in detail. And I can't think of a single PR "claim" that's yet proven out as originally stated? I really can't- but that's just me and my 2 cents.
Quote: "They be growing much more than just kidneys you better get your seatbelt ready, over time even the heartless will be able to receive a heart"
They who? Who's ever "grown a kidney" that works and is in a human anywhere? Who, where, when? Where is this approved for use in humans?
Grow a heart? LOL. Yeah, in what- the next 100 yrs "maybe"??
Pipe dream penny stock hype. Not even a distant reality- 50 yrs would be on the short side estimates. Not even lab rat ready yet.
LOL, BHRT sitting near one cent, just off of 7/10ths of one cent- and nothing has changed in their desperate cash position, need for Magna and Asher and other, etc.
But like clockwork- they appear to be running the Feb/March PR P&D "campaign" per their standard playbook.
Wait till they need to tap Magne again and watch what happens to the price IMO. There's not a single, fundamental change to this company of 4 people that I can see by any SEC filing, financial statement etc.
Another vague, hype PR- that also proves that the MIRROR trial never even happened and Angel trial now just vanishes- yet they're gonna attempt to run the stock on a bunch of pie in the sky hype about nothing.
Too funny IMO. A total joke. Can't wait to hear the explanation of why the MIRROR PR statement of "FULLY FUNDED BY BIOHEART" just simply was not true. Not true in any way, shape or form. Just like the "South Africa" PR now never came true- and was "cancelled" essentially in the subsequent SEC filing, after a much hyped PR campaign. Then the SEC filing says (paraphrasing) oops- never really had a deal, never really signed anything, no business partnership ever really existed- but the PR "claimed" they "owned 49% of a new entity" and that Comella even flew down there, blah, blah, blah. SEC filing reality states, "Nothing of any material matter took place regarding the South Africa blah, blah" - just like the ole MIRROR hype n pump PR.
Same old, same old. Is this a gambling game or an "investment"?? What's it trading on right now except a bunch of vague hype and penny promo noise?
I wonder if they're running paid penny promotion like they usually do in the Feb/March/April time frame? Will have to do some checking on that.
Way too much dilution and now Magna sitting on this one- this isn't gonna last IMO. Not by a long shot.
See FDA website:
http://www.fda.gov/ForConsumers/ConsumerUpdates/ucm286155.htm
QUOTE:
"FDA has approved only one stem cell product, Hemacord, a cord blood-derived product manufactured by the New York Blood Center and used for specified indications in patients with disorders affecting the body’s blood-forming system."
Gotta say, I'm going with the FDA's opinion and website on this one. I'd trust they know what they're talking about and what's been on their main STEM CELL portion of their website for well over 1 yr- as I read that same statement over 1 yr ago, with my own eyes.
Carticel according to the FDA's own definitions apparently is NOT a "stem cell" drug product.
Read their approval letters on it. Pretty clear cut.
"stem cells" per the FDA is a very narrowly defined set of drugs, processes, procedures, etc.
"Doesn't REGENERON PHARMACEUTICALS COM REGN: NASDAQ have an approved stem cell treatment on the market?"??
I have no idea if they claim to or not? But according to the U.S. Govt FDA website- "hemacord" and "cordblood" a few products related to that- are THEE ONLY "stem cell" FDA approved anything. That's right off the FDA website and using their own words, not mine.
http://www.fda.gov/ForConsumers/ConsumerUpdates/ucm286155.htm
"FDA has approved only one stem cell product, Hemacord, a cord blood-derived product manufactured by the New York Blood Center and used for specified indications in patients with disorders affecting the body’s blood-forming system."
Everything the FDA has to say about "stem cell" anything (treatments, cures, products, whatever) is pretty much covered on that portion of their website IMO. No ambiguity that I can see?
Pretty clear cut.
LOL, "Shorty is smoking nicely. Good deep penetrating flavors"???
Oh yeah- a 98% LOSS to the common shares, the prayer and dream of every short ever born.
50% LOSS in about two months after the key insider unloads a truck load.
Sitting near the 52 week low after the imaginary supposed "biggest year ever" blah, blah, blah.
How's that "uplist" and "secondary offering" working out so far?
By the way- the open short on this at any given time is NIL. Next to nothing, noise level. The MYTH of the "shorts". Right.
LOL, "One day, in the near future, a new kidney grown from one's own autologous stem cells will IMO be very much a reality and free those currently on dialysis machines."
FANTASY talk. No proof whatsoever. NONE. Not a shred. "near future"??? NO. Not even a distant fantasy.
Just made up msg board theory, conjecture and past pure fantasy.
Quote: "Yes the "truth" authored by renown eminent PhDs, MDs, and Ophthalmologists is clearly stated in the Peer Review Lancet Oct2014 publication. "
Wow, "renown" and Ph.Ds and M.D.'s - like micro studies by those kind of folks have Neeeeeeever had problems or issues before, LOL?? Only like EVERY DAY OF EVERY YEAR for as far back as one wants to look- legions of them working for biotechs and "big pharma" being legend for "studied" with ole little "problems" found out later in them. Forget the "renown" whatever- it means nothing IMO and makes no difference. There's studies published by the dump truck full all over this planet every day- and a huge percentage are from "renown" somebodies and most of those "studies" end up leading nowhere or are later proven incorrect or flawed or as "having problems" etc. I can go to PubMed right now and go back and read 10 plus years of "studies" and "papers" littered with M.D. and Ph.D. titles all over um- from top universities all over this planet- and most of those "studies" either amounted to nothing later, went nowhere or later were proven incorrect, the vast majority. That's just the way life works.
Lets look at some FACTS of that ole Lancet publication versus the msg board HYPE about it. Lets look at the author's own words and how many times then insert words like or similar to "maybe" or "this could" or "it's possible this could" or "we believe this may" or "there were adverse" or "we did find issues" or "this is not conclusive" or any similar variations thereof. Lets just take a few snippets- EXACT WORDS from the ole Lancet article to see how much the authors believe the MYTH OF THE STOCK MSG BOARD that this is all a 100% done deal, that it "proves anything beyond doubt" that it's months or maybe a yr from commercialization and ready to go as a "human treatment" etc. Lets see what they, the authors and the Lancet ACTUALLY SAY versus msg board "revisionists" of the actual article
EVERYTHING as quoted VERBATIM from the Lancet:
"Adverse events were associated with vitreoretinal surgery and immunosuppression. "
" Our results suggest that hESC-derived cells could provide a potentially safe new source of cells for the treatment of various unmet
medical disorders requiring tissue repair or replacement."
"Funding Advanced Cell Technology."
"Statistical analysis
The sample size in these studies was not based on
statistical power calculations. The size of the patient
population in the studies was not sufficient to permit a
conclusive statistical analysis. Summary data for each
dose group and for the two study populations were used
for the assessment of adverse events, quality of life, and
visual acuity information."
" and
thus in the patient groups we studied there seem to be no
complications associated specifically with hESC-derived
retinal pigment epithelium."
"Complications
were associated with systemic immunosuppression in
some of the older patients with age-related macular
degeneration (appendix), suggesting that future
trials might include a modified immunosuppression
regimen for older patients."
" Additionally, the possibility of
a placebo effect and examiner bias is inherent in the
study design because both examiner and patient were
aware of the eye that was undergoing surgery. Other
potential sources of bias in the measurement include
improvement due to repeat testing and intersession
variability. "
" Our results suggest that
hESC-derived cells could provide a potentially safe new
source of cells for the treatment of a variety of unmet
medical conditions caused by tissue loss or dysfunction. "
Just a FEW FACTS from the Lancet. NOTHING is stated as "proven safe" and /or conclusive. It's FULL of hypotheticals, maybes, we hope, we think, it might, etc. NOTHING is claimed "proven" and slam dunked as is claimed on this msg board over and over and over again. NOTHING.
LOL ANOTHER PR just full of "if's" and "maybes" and "when this, then maybe that" and "we'll let you know at some future date" (you know, like the MIRROR trial that never went anywhere, kinda like that?), and "probably might happen soon if and when all this other stuff probably happens" same old, same old IMO.
http://finance.yahoo.com/news/bioheart-updates-diversifies-clinical-development-150000986.html
Man, they're gonna try and run it on PR hype again IMO. Classic BHRT from my watching this one.
I've probably never read a PR so full of holes and "what ifs " and "maybes" and whatever- just trying desperately to move their stock and nothing more IMO. Another classic PR for the history books to me.
Man, how many words and what it really says to me is nothing conclusive- not one thing that will happen for certain or has happened. Normally, PR is to say WHAT HAS HAPPENED and is a DONE DEAL, not a bunch of "what could maybe probably we hope to happen" hype. OTC-ville classics IMO.
Best line IMO, is the "will be given at a FUTURE DATE". Well SHAZAM, there ya have it. They've been saying they'll update these trials "at a future date" for FIVE YEARS NOW (see the recent SEC filings). Notice this PR, NOTHING concrete about funding. Nothing. Only "we'll let you know at a FUTURE DATE". You know what a "future date" means in legal-eze? Anytime between now and FOREVER is a "future date". Wow, we'll "let you know" so sit tight and hang on and hope for the ole "future date" to arrive SOMEDAY maybe. Wow. Amazing use of the ole PR machine IMO. Amazing.
Notice too- the MUCH HYPED ole MIRROR "phase 3" is DEAD. It never happened. How bout a revisit of those PR "claims" and hype- that helped run the stock back then, and now it's DONE, OVER after "one patient enrolled", remember that one?
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
"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 it was FULLY FUNDED but was never really "funded" and never actually took place??? How exactly does that work? Exactly how, I'm confused I think- like really confused? So it again was FULLY FUNDED as of that PR, but then is not cancelled and never really happened per today's PR, but we're to believe that all this "new stuff maybe" in today's PR is going to now be "funded" and "happen someday" and blah, blah, blah? OK, I guess? But where's the explanation of how MIRROR "unfunded itself" and actually NEVER HAPPENED- where is that all explained in great detail in this wonderful PR. Where can we read all about that being explained? The PR made vast claims- and now they NEVER HAPPENED?? How's that possible? Was the MIRROR PR's as originally put out then never true in the first place? How is that possible?
" The first patient has been enrolled in Mexico at the Hospital Angeles with the Regenerative Medicine Institute (RMI). "
From the PR, dated todat Jan 29, 2015- look at all the "maybes" and all the "what ifs" and "future date maybes" and nothing about FUNDING in this one:
"Bioheart will advance its Myocell(TM) and Myocell(TM) SDF-1 programs forward for the treatment of chronic heart failure. The Myocell(TM) product candidate (known as the MARVEL clinical trial) will advance into US FDA phase 3 clinical evaluation for the treatment of chronic heart failure. 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. Additional information on the timing of patient enrollment will be given at a future date. The Company estimates that Myocell(TM) for the treatment of chronic heart failure could achieve market approval in 2019. Bioheart also plans to advance its Myocell(TM) SDF-1 program (known as the REGEN clinical trial), a second generation product, for the treatment of chronic heart failure forward. The Company is currently seeking a joint development partner to collaborate with the development of the Myocell(TM) SDF-1 program. A joint development partner may, among many attributes, augment the Bioheart research, development and clinical team, bring unique expertise, intellectual property and capabilities to the program, share program costs, accelerate the program to approval and accelerate potential market penetration. The company estimates that Myocell(TM) SDF-1 for the treatment of chronic heart failure could achieve market approval in 2021. According to the American Heart Association, about 4.9 million Americans are living with congestive heart failure. Of these, 2.5 million Americans are males and 2.4 million are females. Ten of every 1,000 people over age 65 have this condition. There are about 400,000 new cases each year. According to the US Center for Disease Control, cardiovascular disease and strokes account for an estimated $432 billion in healthcare and related costs. If approved by the US FDA, the Company believes that Myocell(TM) and Myocell(TM) SDF-1 could significantly improve the cardiovascular health of chronic heart failure patients and reduce the associated cost of treating these patients.
Also in the cardiovascular space, Bioheart plans to advance an Adipocell(TM) based product candidate forward for the treatment of Critical Limb Ischemia (CLI). Company sponsored investigator lead research in the treatment of CLI has produced positive outcomes. The development of CLI usually involves multiple sites of arterial obstruction that severely reduce blood flow to the tissues. CLI manifests itself clinically as rest pain, non-healing wounds or tissue necrosis. Severe cases of CLI can result in amputations. The Sage Group reported that an estimated 2 million people in the US have CLI and reflecting the aging population, this number is projected to grow to almost $2.8 million by 2020. The Company believes that with a device regulatory approach for Adipocell(TM), market approval could be achieved by 2017 for the treatment of CLI.
The Company has no further plans to advance its ANGEL and MIRROR clinical development programs.
Autoimmune Product Candidate
Bioheart is pleased to announce the diversification of its product development pipeline into the treatment of autoimmune diseases. The Company plans to evaluate several autoimmune disease targets with its Adipocell(TM) therapy platform, the first of which will be Rheumatoid Arthritis (RA). The Company believes, for example, that if its Adipocell(TM) first generation, investigational research program into the treatment of RA achieves proof of efficacy, an advanced clinical development program could produce an approved cellular therapy that would have a profound impact on the debilitating effects of RA. RA is a chronic disease that causes pain, stiffness, swelling, and loss of function in the joints. It occurs when your immune system, the system that protects your body from outside harm, mistakenly starts attacking healthy tissue. This causes inflammation that leads to swelling in the joints making them progressively less mobile. If not managed properly, over time, RA can cause joint damage and can even result in permanent joint destruction. According to the Arthritis Foundation, RA affects approximately 1.3 million Americans, but unlike osteoarthritis, RA is not associated with factors such as aging, obesity, or injury. The Company believes that market approval could be achieved by 2018 for the treatment of RA.
Product Development Pipeline Summary
Based on the above information, Bioheart's Product Development Pipeline is summarized as follows:
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"Myocell(TM), Myocell(TM) SDF-1, and Adipocell(TM) are unique product candidates that could have a profound impact on improving the lives of millions of people," said Mike Tomas, Bioheart's President and CEO. "Success comes from focus. The opportunities in regenerative medicine are endless but as an emerging company, we need to improve the odds of fulfilling our mission by knowing what is achievable and achieving it. We believe that the financial resources generated through our educational, animal health and personalized medicine products and services coupled with appropriate financing can bring these exciting product development candidates to market."
END quote of today's "vast" and "vague" typical IMO BHRT ole PR.
Hey, so how'd that ole MIRROR and ANGEL "stuff" work out? Boy, a LOT of PR about those- remember those PR's? I do.
Additional information regarding Bioheart's clinical development programs will be discussed at its upcoming February 4, 2015, 4:30 PM EST shareholder conference call and future SEC filings."
Where's that ole "appropriate financing"?? What exactly is "appropriate" financing? Kinda missing a few NUMBERS there maybe, like any ACTUAL NUMBERS or where this "appropriate financing" is going to come from?? Is there "inappropriate financing" too? What's the difference between them? I don't get it?
Sounds like a PR full of nothing concrete, TOTALLY lacking in a single financial explanation or detailed numbers of what this imaginary stuff will cost, vague wording as always like "we'll let you know at some future date" (you know, like TODAY THAT MIRROR AND ANGEL ARE SUNK AND CANCELLED) and no explanations of a single number on what even one of these pie in the sky programs will cost, several vague dates years out in the future- w/o a single timeline explaining how those dates or even interim target dates will be hit and achieved via what staff and what funding etc. A claim is made that CLI has shown supposed "positive outcomes" but WHERE ARE THEY PUBLISHED, what MEDICAL JOURNAL or anywhere are these supposed "positive outcomes" to be seen for peer review and presented in an actual SCIENTIFIC FORMAT past "shown positive results"- which is just someone saying so IMO. DATA, where's the published DATA then on CLI- in a credible medical journal or similar publication?
Man, what a classic PR if there ever was one IMO. Wow. I gotta print this one out and take a highlighter to it- to decipher all that's in it? It's so vast, so vague, jumps all over the map- with a bunch of vast market size "predictions" given by some group or whatever, then several programs now cancelled, but supposed newer ones, for which BHRT has little to no known experience or expertise are now being moved up as their latest "claims" while the other's were just dropped w/o explanation, etc?
OK, whatever. Great "PR" blah, blah to me. One for the history books- I'll put all those dates and estimates down and be looking for the updates, just like that classic MIRROR ole phase 3 and Angel. Remember Angel- how much it was used to hype the stock price? Remember that? Well, now it's cancelled and gone. How's that "work" exactly too? I'd love some more details on that one, another BHRT classic IMO.
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.marketwired.com/press-release/bioheart-receives-2-million-term-sheet-investment-offer-from-vitalmex-global-leader-otcbb-bhrt-1686526.htm
Oh, and they say their "animal program" or something? WHAT ANIMAL WHATEVER? WHERE is that in any SEC filing? Who of the 4 full time people is working on that? Last I checked Comella is in a lawsuit with the "animal thing"? See the case below, Comella is being sued by Stemlogix. Wasn't that Bioheart's and her's "animal thing"?? So how is that still on-going or whatever?
https://www.clerk-17th-flcourts.org/Clerkwebsite/BCCOC2/OdysseyPA/CaseSummary.aspx?CaseID=7155410&hidSearchType=party_case&DisplayCitation=no&CaseNumber=CACE13024037&SearchType=
I haven't seen a SEC filing discussing "animal products" or programs in any detail in I can't remember how long?
http://www.marketwired.com/press-release/bioheart-partnership-with-stemlogix-leads-first-us-combination-regenerative-medicine-1733056.htm
I don't think Comella is even listed anymore on the Stemlogix website- if that site is even operational anymore, from last time I checked?
So what exactly is Bioheart's "animal" whatever- where's the details on all that? More confusion IMO?
A Google search of "Stemlogix Florida" now brings up a Google+ page with "Vet Biologics" plastered all over it- the name Stemlogix not even in use anymore? Is this Bioheart I guess? Where does it say Bioheart on it?
Oh, it's got the Bioheart address listed as the contact info- so it looks like they moved from the old Stemlogix being run out of a residential home (Google used to show it as a home) to now a new name of "Vet Biologics" (every "Stemlogix" I clicked on now re-directs to this "Vet Biologics website??) and no longer Stemlogix- what SEC filing was that all explained in? Did I miss that one too or something?
The Florida Secretary of State still shows it as "Stemlogix" and at the address of "SWEETGUM TERRACE" - so what's this "Vet Biologics" now that is being done on a re-direct via any click on "Stemlogix"?? Makes no sense to me? Here is the Stemlogix LLC filing with Florida gov website:
http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=STEMLOGIX%20L100000617380&aggregateId=flal-l10000061738-8f1560a3-97a1-448b-b02f-17e79a596386&searchTerm=stemlogix&listNameOrder=STEMLOGIX%20L100000617380
"Vetbiologics" doesn't seem to come up as a business entity on the Florida Secretary of State site that I can find? And Stemlogix docs on that govt. maintained site show no name change to "Vetbiologics" or whatever? I'm confused I guess? Makes no sense to me?
Wow, heck of a vast and vague and scatter-shot ole PR IMO. I sure don't "get it"- especially how ole MIRROR and ANGEL just vanished now w/o any explanation?
Quote: "IMO possible Cross networking of VCEL and OCAT stem cell IPs and Trial Protocols provides an excellent opportunity for Dr. Paul Wotton to move $OCAT forward.".
There is NO formal announcements by VCEL or OCAT that they are "working on" or have a single formal agreement or biz relationship of any kind? What SEC filing or public PR release is that in that we missed??
CEO's sit on boards of companies all the time. They get paid for one thing and are often friends and buddies or past business associates of those in the company they get a board seat on. It's as old as time and BOD's themselves.
There's no proof anywhere that VCEL and OCAT are now in some type of formal business dealings? None.
What does "Cross networking of VCEL and OCAT stem cell IPs and Trial Protocols provides" even mean other than just being a bunch of made up, supposedly "good" sounding speculation wording? What does or would it actually mean and how would it be conducted- as in the specific details? Companies don't just pass IP back n forth to each other- they're freaking in competition with each other? Makes no sense at all. Just msg board chatter and hyper speculation nonsense as usual.
Quote: "Regenerative Medicine is a reality.
This is not 'going' to happen.
It has 'already' happened.
And it's genuinely wonderful. "
NO, there's no proven "reality" yet?? Where? Lets see a list of all these fictional "regenerative medicine" PRODUCTS and TREATMENTS that are FDA APPROVED and covered by insurance and used today in the U.S. in credible hospitals and via credible doctors operating based on proven, conclusive science? Lets see a list.
That list is going to be real, real, real SHORT. As of today there is ONE FDA approved "Stem cell" anything. ONE. And the market for it is a blip on the radar.
http://www.fda.gov/ForConsumers/ConsumerUpdates/ucm286155.htm
"Consumers need to be aware that at present—other than cord blood for certain specified indications—there are no approved stem cell products."
REALITY- read the FDA'S own stern WARNINGS about the hype and claims and whatnot of the so called "regenerative" supposed "miracle cures" or "treatment" biz out there- it's SNAKE OIL inc (60 minutes words, not mine) if there was ever an "industry" ripe and chalk full of abuses. Watch the 60 minutes piece on the ole "miracle" workers of "stem cells" - one of America's most respected investigative journalism crews in history- and they shredded the "miracle cure" business of the ole magic cells.
http://www.fda.gov/ForConsumers/ConsumerUpdates/ucm286155.htm
http://www.fda.gov/ForConsumers/ConsumerUpdates/ucm286155.htm#Thwarting
Quote: "Of interest now is that Novartis Alcon is added to the General Electric and Regeneron list as possible interested Pharmas with direct possibilities. ."
Oh, it's LETS MAKE UP A COMPANY NAME RUMOR day again. I'm gonna add in Walmart- they opened a store somewhere remotely close to the OCAT headquarters and they have eye treatment centers in many of their stores. I heard a rumor they might buy-out OCAT or do a JV with them IMO.
See, that was easy. Oh, and Lenscrafters too- I heard they "might" maybe be sort of interested- they do eye doctor testing and stuff too and have a location I think somewhere in MA.
Yep, it's almost for sure probably maybe certain. Almost.
Quote: "OCAT holding just fine at $6.15..... "
Yeah, hugging that "sweet spot" right near the ole 52 WEEK LOW range.
You know, after the "miracle article" and imaginary "biggest year in their history" and the supposed "medical miracle" of the past 100 yrs blah, blah, blah.
And it's parked at pre R/S price of about 6 CENTS. Below where ole Gary Rabin had the stock at. Not bad for the "biggest year" in company history.
And January appears to be ending and no "uplist" and no "secondary" being sold and placed and the stock sitting near bottom on low vol, pretty much going nowhere.
Not bad. Yep. Real solid. I guess there needs to be more "theories" about imaginary JV's and why GE built a plant somewhere and how maybe the shelf filing and highly touted secondary offering are all really some grand scheme and super reverse stealth method that aren't what they really appear to be- despite massive amounts of money being spent on underwriters and SEC docs being filed and all the rest. Yep, it's some double secret "plan" all really being played out behind the scenes- that's gotta be what's going on?? OK, got it. Sounds great.
Barely holding $6, but it's all "fine". Great.
LOL, Quote: "$OCAT interesting read from poster tedk10 on InvestorStemCell "
Oh God, "investorstemcell" ole "predictions". Sure. Right. Hold the phone.
I prefer either throwing darts at a board of random choices or picking random pages from the National Enquirer for better investment advice and more salient stock analysis personally. Get much, much more accurate results and better guesses and mythology based speculation outcomes and just pure made up fantasy results IMO using the dart board method.
If one had a dime for every "prediction" made on that nothing little web site that was ever accurate or even remotely came true- one would have at least 5 cents probably by now. Wrong and more wrong is the "prediction" accuracy rate via my experience of anything ever posted there.
Blind leading the super blind and the grossly financially ignorant at that little micro site is being on the "generous" side IMO.