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"Looking good today back at .016+ a lot of accumulation going this am."
Very interesting and detailed analysis except the pricing points and projection of an upward price movement or accumulation just didn't seem to be the case so far.
It appears to have traded down 4% plus today which doesn't appear to indicate "accumulation" as the stated analysis indicated? Seems more like just plain old selling perhaps, seeing that it's only holding 1.5 cents now, no?
But good, detailed analysis either way.
"The market cap at .015 with more shares as you say would be higher then"
That would be a true statement. But no one knows the number till the next SEC filing, which will most likely be the 10-K, annual report.
Thus, the "known" market cap today is always calculated using the last, SEC filed share count. That's how it's always done.
If you watch a site like Yahoo, or E-trade or the Wall St Journal or whatever- watch the market cap number after the 10-Q or 10-K is put out. It typically take um a few days, often longer- maybe several weeks, then you'll see um update their share count number as their software "bots" crawl and scrape all the latest SEC filings and then their market cap numbers and all their other numbers in their "stats" will adjust accordingly.
One will often find a lot of info on like Yahoo finance page for a stock is just totally wrong- and it's because it's auto-scraped using software bots. Sometimes it scrapes a bad number, dated number, makes a bad calculation, etc.
Most of the broker's pages, E-trade or whatever try and be pretty accurate. The only true place to get certain, 100% guaranteed numbers is to read the company "financials" themselves. Typically the first 6 or 8 pages in the 10-Q or 10-K. The ledger, accounting looking entry pages that show top line revenue, expenses, costs, shareholder equity, profit and loss, operating income, etc. Those are the 100% correct numbers according to the company and on the 10-K, according to their auditor, if they have audited statements, which BHRT does up to this point.
"So per the Wall Street journal that's the current OS"
No, per anyone, that's the last KNOWN, PUBLISHED share count. Everyone, Wall St Journal, Yahoo, E-trade, whoever- all get that same share count number from the LAST, as in PREVIOUS, as in OUT OF DATE A MONTH LATER, filed SEC document put out by BHRT.
If they diluted so much as 100 shares since their last published filed share count, then the number is dated, looking in the rear view mirror.
And, once again, BHRT dilutes near continuously, so it's a near certainty, that by mid DEC now, they would have issued shares to "someone" for "something". Again, read any past 10-Q or 10-K and then also the Magna filings. Shares are going out all over the place, on-going and have been for years. It's not new. How does one think the O/S share count more than doubled in a yr over yr period from the last 10-Q to the same period in 2013? How? Because shares are issued out near non stop, that's how.
Also, why did BHRT take their A/S count to now 2 BILLION shares? Because they're gonna dilute and dilute a lot- enter the Magna deals, which are gonna consume a lot of share per the SEC filed S-1 and the registration documents.
"But based on today's market cap...the value stands per the Wall Street journal"
Of course it does- cause the Wall Street Journal "scrapes" their share count from the SEC filings, same as everyone else. Again, NO ONE, except BHRT themselves knows how many shares they've issued out until they make it public in some SEC filing: a 10-Q, a 10-K, or some special filing maybe like an 8-K or the S-1, whatever.
Share count known to the public is always a lagging number until the next filing reports the latest updated count. Always. And again, as stated previously, BHRT dilutes on essentially a near continuous, non stop, on-going basis and has for years.
Just wait till the 10-K is filed, the share count is going to be enormously higher than it was in that last 10-K. Guaranteed. No way it can't be. They're tapping the Magna "note" (31 MILLION shares right there) and then if they make even one draw of say $500K on the Manga credit line, at these share prices- it's going to be about another $500K/.015 = 33 MILLION shares right there.
I'd expect, at a minimum, by the 10-K filing, that BHRT's O/S share count will have gone up at least another 50 MILLION shares, probably more. It went up over 40 MILLION just between the previous 10-Q filings. And that's before they had this Magna note and Magna credit line to tap and use, which they stated in their SEC filing they plan to use ASAP.
And where does the Wall St Journal get the share count from? The LAST SEC FILINGS. Same place everyone else does.
SEC 10-Q and recently filed 8-K you may have heard of:
10-Q, PAGE 1:
"As of November 6, 2014, there were 558,942,523 outstanding shares of the Registrant’s common stock, par value $0.001 per share."
10-Q, 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"
Notice, the FULLY DILUTED COUNT is much higher- that's because it must account for all the shares owed via all the derivative and other underlying "financing" and "notes" and similar they know they already owe. So the count right there is up to 659 MILLION.
But, from the S-1, MAGNA filing, which came after the 10-Q:
PAGE 14:
"Common stock outstanding before the offering
560,564,622 shares of common stock (includes 9,109,128 shares issued to Magna Equities II LLC on October 27, 2014)."
Examples from last 10-Q of how BHRT dilutes for everything from paying "common bills" to who knows what else-
PAGE 27:
"Subsequent issuances
On October 3, 2014, the Company issued 514,886 shares of its common stock as payment of $70,521 interest on its Northstar (related party) debt.
In October 2014, the Company issued 1,818,182 shares of its common stock in settlement of $20,000 of convertible debt
.
In October 2014, the Company issued 1,293,103 shares of its common stock in settlement of $15,000 of convertible debt.
In October 2014, the Company issued 2,260,764 shares of its common stock in settlement of $18,000 of convertible debt and accrued interest of $2,120.
In October 2014, the Company issued 552,846 shares of its common stock in settlement of $5,500 of convertible debt and accrued interest of $1,300.
In October 2014, the Company issued an aggregate 2,773,549 shares of common stock for consulting services.
In October 2014, the Company issued 538,875 shares of common stock in settlement of accounts payable."
So, that's about 8 MILLION plus shares right there- that they just issued out in that qtr for general "bills" and misc. "stuff".
They DILUTE ALL THE TIME- just read the SEC filings.
The market cap will be lagging, as stated. Until the next 10-Q or 10-K is filed no one ever knows the most up to date share count, unless a document stating that count is filed with the SEC (and of course the company, BHRT knows I'm sure on any given day as dilution shares get issued out).
Go to any site- Yahoo or whatever. Look under the details stats page. Their share count is "scraped" from the SEC filings. That share count, on whatever web site, broker site, wherever- is going to show the count as of the last 10-Q filing, usually the exact number as on page 1 of the 10-Q or 10-K, as that's where their software "bots" scrape the number from.
Just from recent filings regarding the Magna financing deal(s)- we know for certain that 31 million more shares have already been issued for the "note" $300K/$200K note and that at least 9 million have been issued as payment for up-front "fees" to Magna. It says so right in the last SEC filings. So right there is 40 MILLION more shares of dilution one would need to tack on to the last 10-Q filing share count. But there's gonna be a whole lot more than that- as BHRT issues shares every qtr to people like Asher, for things like paying common bills and to "related parties" and who knows what else. Just read the last 10-Q or any 10-Q or 10-K filing, shares get issued out for everything- also for bonus and options plans, etc.
So, again, no one today could know the accurate share count except the company. The market cap used for anyone else is always the one published today- as that's all anyone can go on. But pragmatically, one must know it's out of date practically the day the last 10-Q is filed, as this company dilutes near constantly. Probably at least weekly, for sure at least every month or two w/o a doubt. Again, any SEC filing proves that beyond any doubt.
They're diluting all the time- continuously, don't even know how that's debatable? They just said in the Magna SEC filings and every 10-Q or 10-K filed for years has shown on-going, non stop dilution, ever last one of them. The O/S shares more than doubled in just the last yr alone.
"market cap divided by share price is still about the OS stated in the last 10Q. That means the magna shares haven't hit the market yet."
Can't really make that assumption because no one knows the share count accurately until the next 10-Q or 10-K is filed each time.
In other words, the market cap number published on any site- Yahoo, I-HUB, E-trade wherever, is always an out of date number that is computed using the share count as found in the last SEC filing X the days price on the market. It's like looking in the rear view mirror essentially.
Thus, it would be like trying to solve an equation right now, where one of the variables is unknown. As of today, no one knows the share count except as published in the last 10-Q, so the market cap today, wherever it's displayed is essentially out of date, by the time since the share count was posted in the last 10-Q filing.
So, the result would be exactly as expected- the market cap is always going to match, cause one doesn't know the new, higher share count as of today. The firms displaying market caps are calculating it just as you just did: they take today's share price and multiply it by the last known share count in the last filed 10-Q or 10-K. Thus, they get the same answer you're getting, if you do the reverse equation and try and find the share count by dividing market cap and price.
No way IMO, that there's not dilution shares hitting the market daily or at least weekly (I don't know how those firms sell- in trickles, or chunks, on certain days of the week, etc?). But I'd find it hard to believe that there's not a huge bunch of net selling going on given the bid slowly collapsing each week and the very high volume days the prior two weeks, that came right after the Magna deals became firm via their finalized filings.
My 2 cents.
Appears like continual lower lows and lower highs. There seems to be no bottom to the bid collapsing thus far and no real buyers stepping in to support it.
I won't be surprised to see a large drop, perhaps single day sharp drop, that takes this to the 1 CENT range (not far off now at this point), IMO, like it did last December.
Nothing at this point has been able to reverse its down trend for months, and now there's just an enormous amount of low priced share overhang via continuous use of convertible debt financing deals and now these two Magna deals which issued out a lot of dilutive shares just in up-front fees (9 million plus) before BHRT has even received a dollar from the "credit line" plus 31 million more shares for the Magna "note" portion.
Just looking real, real dicey and weak in here IMO. Market cap now sub $8 million w/ $10 plus million in debts. Wow.
"Looking good today back at .016+ a lot of accumulation going this am."??
It's trading on micro volume on a 14% plus spread? That means it's gone nearly totally ill-liquid, IMO.
It's traded a 14% swing on about 31K X .0155 = $480 bucks worth.
Someone (Magna or Asher or whoever) keeps "ratcheting" and hammering that low end bid down, almost every day for 2 plus weeks now for a reason IMO. Not by accident that it opened DOWN 11% on about 800 shares to "spot" a new low bid at .01395, 11 seconds after market open.
That's 800 shares X .01395 = $11 BUCKS WORTH. Yep, it opened DOWN 11% on a $11 dollar trade?? Why?
Well, all these "pricing formulas" in all the verbiage on these "financing" deals all involve some formula that says something like, "based on the avg of the prior 10 days price, blah, blah, blah". That's what I think is going on. Someone needs that bid dropped continuously, to "mark" lower prices being traded. That's my 2 cent opinion. Who else can even post or get an $11 dollar to trade to print, other than some pro trading desk?
BAM ! There it goes, another new low bid. Smacked it right on the open.
.01395, down 11% in a blink. Not looking good here IMO. Weak and continued greater weakness.
Magna, Asher, Daniel James, Fourth Man, all appear to be in the driver's seat IMO. Magna, IMO, is the number one candidate for this "odd" trading action and patterns of recent. Too coincidental IMO, too "timed" in near exact parallel to when Magna came on-board and when they got their first shares for the first "note" part of the deal, plus the 9 million plus shares in just fees for the "credit line" portion of the two deals they just did with BHRT.
The sustained down trend here is gaining momentum to the downside it appears. And nothing so far- not "news", not "PR", not the 10-Q and reports of "revenues" or anything else has had the slightest effect at abating this dropping bid, lack of buying, and sustained down trend, not that I've been able to see. Now approaching being down about 85% from the March/April "news" run-up to the .08 range, only about 8 months ago. That's a pretty severe loss and sustained down trend in such a short period of time.
Yep, certainly BK of the company is always a risk once the shares-for-money has actually taken place. At that point the lending firm has cash hanging out there until they can sell shares fast enough to cover their principal, plus hopefully (from their viewpoint) make back the large profits they are seeking.
But again, when one reads up on these firms who do this type of lending, they build in many, many safety stops to make it almost a certainty they can unload and make a profit, even as the walls are crashing in. Of course, once BK were filed on any company, then it's all bets are off for any debt holder, or shareholder until the BK proceedings work their way through the system, as to whether or not anyone gets so much as a penny on their dollar. BHRT for example, has about $250K in total assets and almost no cash at any given time, against $10 million or more in debts, so it's pretty much a given IMO, that if they liquidated, everyone holding debt or owed money is toast and the common shareholders of course would be 100% wiped clean IMO, w/o even a doubt.
One thing I found very interesting on this latest Magna credit line- was there's some verbiage in there about them being a "Senior" creditor (something to that effect, I'd have to go read it again). That would indicate to me they might of somehow got themselves put into 1st position as a creditor? Not sure? But that might have huge implications. Just like a home loan lender or whoever, if one can be put in "1st position" as a debt holder/lender, then they "might" have a chance of recovering anything left in the event of a default/BK situation or similar. It was also interesting IMO, that a law suit was filed shortly after the Magna deal was announced- that appears on the surface to perhaps involve people (the former CEO's ex-wife) who may still be "guarantors" and holder's of older BHRT debt. Maybe (pure speculation, I don't have a clue) but maybe they believe they are "Senior" on any debt and thus were breached? Who knows- but that lawsuit popped up seemingly just after all this Magna stuff was inked and made public on the SEC site. So who knows?
https://www.clerk-17th-flcourts.org/Clerkwebsite/BCCOC2/OdysseyPA/CaseSummary.aspx?CaseID=7862332&hidSearchType=party_case&DisplayCitation=no&CaseNumber=CACE14021256&SearchType=
But if one looks at the links on convertible debt and similar structured deals- note, the LOWER THE SHARE PRICE GOES, a company like Asher actually can MAKE MORE MONEY. Which, IMO, is mind boggling and fascinating as it gets. Whoever, whatever guy/entity dreamed up this type of loan/conversion for shares type deal- ya gotta hand it to um, they were not only ruthless but brilliant in their own way. I'd guess they came out of the loan sharking or pay-day loans or some portion of Wall St where they dream this kind of stuff up.
But the beauty (if one wants to call it that) the beauty of convertible debt deals for the one giving the "financing" is they become like the house in Vegas, every provision in the deals is built-in so they can "almost" never lose, no matter what.
I-HUB (see the Asher link) is littered with companies who used Asher, Magna and similar firms- and are at literally 2 or 3 zeroes after the decimal and Asher or whoever can still be unloading shares and burying the thing while making a profit. I've posted a link before that gives a real good explanation of how it works, how the lower it goes, the firm like Asher gets more shares for each "conversion" they then sell more, driving the price even lower, cover again, wash, rinse repeat. They're called trancheons I believe- like stair stepping down. The SEC calls it "ratcheting" on their site.
But yes, these firms are lending to high risk companies- cash poor, no cash flows, highly debt laden typically, etc. So BK is part of why they charge what they do- to give them cash for shares. That's why I stated prior that Magna and Asher and similar IMO are not even remotely "making investments" in a company like BHRT (like one would think of a Venture Capital firm or lender like the old B of A loan or a co-investor buying a piece of equity in the company, etc) these firms, these "vulture" lenders are interested only, again IMO from all I've read/studied, are only interested in flipping and selling shares at as optimal a time, for as much profit as they can make, never planning to hold those shares. They literally may be flipping those shares and dumping um as fast as they receive um- who knows. Or maybe they set-up scenarios to run short-cover-short-more-cover stair steps and similar patterns.
Just look at BHRT for the past several weeks. They first announce the Magna deal. Then suddenly out of nowhere the stock starts to trade down hard, erratically all the sudden on much higher volumes, with little spike periods in between, then next day buried on high vol and this back in forth yo-yo, but with lower highs and lower lows for the most part. Coincidence? I don't think so IMO, it all appears to connect to the Magna two deals.
So, yep- BK is always a risk, but these firms like Asher and Magna I believe build that into their cost formula- and thus charge the mega high rates they do. Just like a high risk auto loan is 12% or 15% interest, while myself or a person with good credit these days, can probably get near zero percent financing. Home loans - no different. Good credit and you pay maybe 4%. Bad credit, maybe you pay 8%. Credit cards- I can get um at 9% from a credit union. Bad credit- it's not unusual to have a 22% interest rate on a credit card. That's the risk "model" that firms use to hedge against their potential non performing loans (aka BK or similar) .
One of the best explanations I've read of a "toxic" conervtible debt deal and how they do what they do and make money no matter if the price goes up or down, especially making more when the share price goes lower:
http://www.stockpatrol.com/article/key/deathspiral
http://investorshub.advfn.com/~-ASHER-~-25451/
Just my 2 cents from what I've read and studied. I first came across this happening (use of convertible debt and a share price getting buried- on a stock I owned yrs ago, it got buried and I got creamed, totally. That set me to trying to read up and find out more about it, this "toxic" financing or "death spiral" financing, whatever one wants to call it.)
http://www.sec.gov/answers/convertibles.htm
"Why would they risk a million + dollars to invest in a company?"
"especially when (as you yourself might argue) there are better investments to be had out there.."
1) They don't "invest" a million dollars in the company. They get/buy discounted shares, with numerous "provisions" build in to each deal- that insure with near 100% certainty they can sell/flip those shares very quickly for very large profits. These kinds of firms aren't interested in holding long term positions in any company- they're quick flip lenders of last resort. Why do pay-day loan companies do what they do? Cause there is very fast, very large amounts of money to be made for the risks taken, and those who run the businesses are very, very smart at building in all kinds of criteria (enormous up front fees, sharp discounts- you don't get the face value of your chk when cashed at a pay day joint, just like BHRT doesn't get face value for their shares when using a desperation lender like Asher or Magna or Fourth Man or Daniel James, etc).
2) "there are better investments to be had out there"??? What does one think a firm like Asher or Magna or similar can earn as return on their money for being in the high risk lending biz? 5% annual, 10% annual, maybe 50% annual, maybe 100% annual returns- how bout maybe 200% or more annual returns. NAME ONE other "better investment" out there that can produce even 25% annual returns on one's money, consistently, if ever? One? If Asher or Magna can get shares at a 45% to 47% discount on their convertible notes they just did, or they can make a 7% discount plus enormous up front fees and then get a "true up" price, and combine it with shorting and other "methods", they can easily make 25% on their money, probably more, in a matter of a few months. It's like owning an ATM machine the money is so good IMO. These firms are legend on Wall Street- simple web research shows that to be true from all I've read, including the SEC's own info and warnings about "convertible debt" aka toxic dept or death spiral financing and similar. It's high risk, high reward, jungle level biz. Brutal, harsh- but enormously profitable if a firm is good at it and ruthless IMO and from all that I've read and researched.
Thus, I'd be challenged to find almost any other biz, short of probably Vegas and a few other that can produce the kinds of returns reported and plainly visible via just viewing the steep share discounts and enormous fees- that a firm like an Asher or Magna or similar can generate. I can't think of a single one IMO.
http://investorshub.advfn.com/~-ASHER-~-25451/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68247638
http://investorshub.advfn.com/Clients-of-Magna-Group-and-Hanover-Holdings-25550/
http://www.sec.gov/answers/convertibles.htm
http://en.wikipedia.org/wiki/Death_spiral_financing
https://pennymann.wordpress.com/tag/toxic-financing/
"Apple was started in a garage so what's your point? They can always expand down the road"
This is a start-up now? I thought they proclaim themselves to be the "WORLD leaders" the "Phase III leaders" etc in places such as their web page, their twitter page and in numerous, numerous PR. I'm 100% certain I've read those statements recently and nowhere did it indicate they were a new start-up?
Their own SEC filed documents say they've been in business since 1999.
Most recent 10-K filing, PAGE 1:
"We were incorporated in the State of Florida in August 1999."
So that's about 16 yrs, no? Doesn't sound like a start up to me?
In year 2008, their NASDAQ IPO page says they had 27 employees. They were delisted from the NASDAQ about 1 yr later. They now trade on the OTC market as a nano cap penny stock and have 4 full time and 1 part time employee according to their most recent filed 10-Q. Last yr, in 2013, at one point their SEC filings indicated they maybe had 3 or 4 employees total.
BHRT seems like they're sorta going backwards IMO, no? Not exactly an Apple start-up and growth story? I don't see a single comparison between the two companies, none. Apple was making money and cash flow and was enormously profitable almost from day one. They've become one of the most successful companies in world history. Apple started in 1977 I believe, they went public by 1980 and have never been delisted or traded as an OTC penny stock, ever. Apple today has about 90 THOUSAND employees and has had at times probably more cash than probably any company in world history- they have sales of about $180 BILLION annually. They may become the first $TRILLION dollar market cap company in world history. Apple has produced one of the greatest returns on investment (ROI) in stock market history, BHRT has never produced so much as one dime, literally of ROI.
BHRT is shrinking, not growing from the way it looks to me? They finished the last qtr with $46K total cash on-hand w/ $10 million or more in debts and as previously stated, their most recent 10-Q shows them having about $250K TOTAL assets, as a public traded company. Not sure that's much of a "growth" story since being in business since 1999 and a public traded company since 2008?
Doesn't make much sense to me- especially being a "world leader" and a "global headquarters" and all, given the number of employees, their cash on-hand, the size of their very small facilities, etc. Just my opinion.
http://www.nasdaq.com/markets/ipos/company/bioheart-inc-734841-53406
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBNETYMPJCg4
"global headquarters in Sunrise FL"
That would be the very small, leased (meaning they don't own it) "facility" in a typical business park where one might find a doctor's or Real Estate or small family business office? That one? The one where the total monthly lease (I'd need to check the last 10-K or 10-Q) but it runs maybe $6K a month tops? That's the "global" headquarters? It's about 4,600 sq-ft, about the size of homes in my area. I visit doctor's offices that have more square footage- just single physician owned/operated doctor's practices, or local real estate offices or very small family run businesses that operate out of, and often own buildings/facilities larger than that. That lease, that's about a typical house payment for a lot of single family homes in my neck of the woods. ($65,124 per year from their 10-K)
That "global" headquarters facility is where all 4 full time and the 1 part time employee work out of I guess?
From the BHRT last 10-Q filing, PAGE 4:
TOTAL assets: $248,454
(yep, $250K, total assets they own as a public traded company. Not even a small condo in a not so great area in my neck of the woods)
Total current liabilities: $10,336,315
One can see from their SEC filings, they really don't own much of anything or have any assets at all. They have a lot of debts owed though.
About 85K total volume on the day with long periods of no-trades, flat-lining.
It's really looking weak in here, really weak technically and financially. No real bid support it seems and no real buying interest it seems, despite prices near the 52 week and almost all-time lows.
.0160 X 85K = about $1,360 TOTAL DOLLARS traded on the day. Wow.
It's gonna be tough to do much IMO when you trade $1,300 bucks a day total.
Looks to me like Magna is pretty much driving this one from here on out, for quite a while at least. Lots of low priced shares, lots of convertible debt deals, lots of share overhang- I just don't see what's gonna move this off these levels?
They've put out numerous PR, lots of "news", the "financing" the 10-Q, the "revenue" and who knows what else, and what ya basically got here is a 1.5 cent stock, with a total market cap of less than about $9 Million (which is less than their $10 million debts) and it's about to be heavily diluted some more, essentially continuously, going forward.
Pretty sketchy in here at this point, IMO.
Maxim?? Never heard of um??
Some tiny firm that "covers" penny plays, or are they another pay-to-promote firm like BHRT has used many times in the past?
"Just signed a $3 million line of credit with Magna at a 7% discount. " ??
Uh, it's not that simple. It's all highly, highly dilutive financing for starters. BHRT already has over 659 MILLION fully diluted shares outstanding now (see latest SEC filed 10-Q), more than double from just a yr prior. These Magna deals are gonna rapidly add to that dilution.
1) The Magna "credit line" was preceded by a $300K/$200K toxic "note" by the same firm Magna. 31 MILLION shares worth at a very low price, like 6/10th of 1 CENT.
2) That credit line is spread over 24 months with numerous restrictions on how a "draw" can be made, what's the maximum for each draw, etc. It's not a simple 7% formula- there are numerous other criteria in calculating the final price, the "true up" price of each draw. It's all in the SEC filed documents.
3) The maximum the line can bring is $3 MILLION but it clearly states in the document, due to numerous restrictions, share price calculations,etc - they may not even reach the maximum draw amount each time. They may, in the words of the document receive SUBSTANTIALLY less. One yrs worth would be about $1.5 MILLION, which doesn't even cover the recent increased salaries and $800K total bonuses for just 2 of the companies 4, full time employees.
4) That credit line came with very high up-front costs and fees, all paid by BHRT. 9 MILLION shares have already been issued as fees (low priced shares) and 15 MILLION more had to be set aside for more potential fees/costs, again all in the SEC filing regarding the two Magna "financing" deals.
It's extremely "stiff" money IMO. Desperation lending essentially. Magna has a reputation in the business, according to many many sources, very similar to Asher of penny lending fame. BHRT also did more convertible debt deals (aka toxic financing) also with firms named Daniel James and Fourth Man. BHRT is relying heavily on convertible debt, aka "toxic" note type financing deals.
BHRT has yet to "fund" or restart a single "key" phase II/III trial that I'm aware of from reading all their most recent SEC filings. ALL trials in the last SEC filing were indicated as "on hold" for "lack of funding".
My 2 cent opinions and info I've gathered from reading the company SEC and other filings.
" $2 billion on pacers which help a little or heart transplant compared to a 30 min procedure that actually reverses damage."?????
Where is their a safe, proven, FDA or similar approved "30 min procedure that actually reverses the damage" (speaking about heart damage obviously)?? Where does that exist? Where?
(bid .0147 sub 1.5 cents and ask .0161, holy cow WIDE OPEN that spread, on the low vol days !!)
From the last filed BHRT 10-K, PAGE 31:
"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.
"
"12-24 months to finalize the Marvel phase 2/3 trial." ??
It's been a supposed "12-24 months" going on 5 years now. That's some pretty long '12-24 months" in my book??
What's taking so long? Where's the money for the past 4 to 5 years? It's never materialized, not once yet? Why? Why would that be?
Very confusing IMO?
"Mike said this was a billion dollar opportunity "??
Well, I guess that pretty much settles it?
All except the part that it's a 1.5 cent stock as of today with a total market cap now of about $8 million dollars (and debts of $10 million plus) with 4 full time and 1 part time employee left (one of which is "Mike").
Where's all the big, "smart" money- beating a path to their door for this supposed "$BILLION" opportunity? Not seeing it IMO? Why are they using Magna, a lender of last resort and massive dilution, if that "opportunity" is just sitting out there for that taking? Why would that be? Doesn't make any sense to me?
So, just a tad bit of a gap IMO, between what "Mike said" and the reality of the situation. Just a tad IMO. Stating something is an "opportunity" is pretty easy in my book.
Actually reaching the "theoretical" so called "opportunity" is a whole nother ball game. Lots of imagined opportunities out there, but are they real and do they ever get reached? I'd say no, most of the time. The free markets prove that to be true every single day IMO.
"Price is now at .016 and moving UP. These low prices just won't last long with all the company's activity in my opinion. BHRT is a global healthcare provider now with worldwide capabilities, IMO."
The BID is parked at .0146 and hasn't budged. It's trading on low vol on the spread only. All they did was close it up on an ultra wide spread. Notice the selling volume days, 2 weeks worth and the mega drop days, they were on 5X to 10X today's volume. No biggy here IMO, it's gonna go lower as they (Magna and others) dump large volume each time into strength. It's the bid that essentially did not move today, and it went low to the bid several times today.
"global health care provider"??? I thought they are a stem cell HEART RESEARCH (aka BioHEART) product development company? They have 4 full time and 1 part time employee and almost no cash at any given time- how exactly are they a running and managing what's being termed a "GLOBAL healthcare provider"? How does that work? Who's running this "Global healthcare" whatever while they're also supposedly conducting who knows how many R&D "trials" and all the rest? Which of the 4 full time people do all that?
They also have NO FDA or other wise approved products (except a catheter, I'm pretty certain?) and say so in their own SEC filing statements. So what exact kind of "healthcare" are they providing and to who and how? What product or therapy or treatment does Bioheart posses that's been proven safe for use on humans, outside of anything but a clinical trials, carefully controlled process and environment? Not making sense IMO?
From their own, last filed 10-K filing, 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, reading their own words in their own 10-K SEC filing- it says they won't in anyway promote or even "encourage" their products to be used in unapproved ways? And none of their products are approved yet by the FDA or similar? What products do they have that are proven safe and have proven efficacy to provide "healthcare" to human patients, outside of research trials?? Which ones? So what exact "global healthcare business" are they in exactly? Again, makes no sense IMO? Very confusing?
"BHRT moving up"??
Showing a bid of .0146? That's just about an 8 month low? This IMO, nothing but a low volume, ultra high spread trading day- it's flat lining a lot. Just the pro trading desk folks working a very wide open spread as far as I can tell. Nothing else is moving this in the slightest that I can see?
As for bonus checks, I'd wait if it was me- you'll be able to buy it a lot cheaper than this IMO. There's no sign of a bottom or floor on this one.
You got Magna note shares (31 MILLION), Magna up-front fee shares (9 MILLION plus maybe 15 MILLION more) coming and a lot of convertible debt deals and low priced share overhang to unwind. And then the Magna credit line, discounted shares will start pouring onto the market more than likely the instant they make their first "draw" on that line- I think the bottom on this may be way off from these levels.
PR, "news" whatever has been put out heavily, yet hasn't budged the price up on this one iota, for several months now. It's in a sustained down trend and no signs of abating yet that I can see?
Why pay a premium at these prices?
"Bid is rising this morning.. Ask is getting accumulated."
I'm seeing a bid of .0145 (a new 8 month low bid) and down 3% plus right now?
Not sure any "accumulation" going on here? It's in free-fall essentially IMO. And I don't see a single thing yet that's abated it- not "news" not all their "PR" releases, not a "Adipocell phase II" or some guy in Colorado now doing some "study" or whatever. Not "Magna financing" being announced. Not "twitter" feeds galore. Not the 10-Q and "revenues" or whatever.
Nothing has moved it up an iota that I can see or tell?
"Lots of good accumulation at support levels"???
The vol today is anemic at about 315K shares. It's been doing 5X to 10X that on the days it's been selling off. Not sure how much "accumulation" is going on here?
Avg daily vol is now at about 1.2 million shares, so doing 315K shares today is a very low volume trading day.
.015 X 315K = $4,700 bucks. Not even $5K on the day it looks like? Further, it opened at .0141, a new 8 month low on the bid and it did several trades at the .0145 area.
Is 1.5 cents or slightly below that the new "support levels"???
The 200 DMA is now at .027 but more important is the inversion of the 50 DMA at .019 now being under the 200 DMA. To even remotely begin a move back to an uptrend it would need to break that 50 DMA avg and the 200 DMA on heavy vol for some sustained trading days. It's not anywhere near those numbers at this point.
It's now down about 75% from the .06 high of March/April and down 80% plus from the .08 peak in March, only about 8 months ago. Market cap this AM dipped below $8 million.
Not looking to good here IMO. Very weak and in a sustained down trend for months now.
""International Cellular Medicine Society has now approved BioHeart Inc."??
And WHO is the so called ""International Cellular Medicine Society" and what authority do they have over anything? And what have they "approved Bioheart" for exactly?
Here is the link to the FDA investigation and audit (which found many deficiencies) of the ""International Cellular Medicine Society".
Note also- how NOTHING on the ""International Cellular Medicine Society" website appears to have changed or been updated since 2012? I'd question whether they even exist or are a functioning "group" or whatever they're supposed to be anymore, IMO.
http://www.cellmedicinesociety.org/component/content/article/415-fda-audit-findings
Read the PDF document link at bottom, the entire FDA audit and findings are explained in detail.
http://www.cellmedicinesociety.org/attachments/415_FDA%20483%20-%20ICMS%20IRB%20-%2019%20June%202012%20(redacted).pdf
http://www.cellmedicinesociety.org/component/content/article/86-news/414-fda-audit
Facebook page- not a single new entry since 2012, very early 2013. Are they even still in existence or functioning? Seem not to me?
https://www.facebook.com/InternationalCellularMedicineSociety
"Bounce time, ASK is getting accumulated quick!"
Bid is PARKED at .0145. It's trading on anemic volume on a wide-open spread. Nothing new happening here that I see?
It's not going anywhere anytime soon. Not with that bid parked down below 1.5 cents.
Just the traders "working it" for the spread a bit IMO.
Great news??
Another "investigation" I guess "study" that is supposed to lead to what?
Further, it's being done outside of the FDA "clinical trial" process using this stem "institute review board" whatever. One should read the web site of that organization IMO. Read the FDA audit/investigation results and also notice that nothing on their web site appears to have been updated in over 2 years. Their "breaking NEWS" section entries are dated as of summer of 2012?? I checked every page on the web site and don't see anything appearing to be current or updated- meaning, it's questionable to me, IMO, are they even a current, "functioning" organization if they can't even keep a very, very basic website up to date and current?
What's interesting also, IMO, is that this "International Cellular Medicine Society" website all seems to go "static" and freeze in time, right about the time the FDA conducted an audit of them and published their findings. So, IMO, I don't know what real value, if any, this "International Cellular Medicine Society" really is?? Who knows?
"ThriveMD is excited to announce that the Institutional Review Board (IRB) of the International Cellular Medicine Society has now approved BioHeart Inc., in conjunction with ThriveMD, to investigate stem cells as a multiple sclerosis stem cell treatment option."
Look at this info about the "International Cellular Medicine Society"
http://www.cellmedicinesociety.org/conference/414-fda-audit
http://www.cellmedicinesociety.org/physicians/current-research/stem-cells/415-fda-audit-findings
"4th Annual International Congress for Regenerative and Cell-Based Medicine
Thursday, May 3rd, 2012 - Hollywood, Florida, USA"
Notice the date, 2012 and nothing exists on the web site showing any subsequent or more recent ANNUAL conferences held/sponsored by them??? Why would that be? What happened to the 5th and 6th ANNUAL conferences for 2013 and 2014? Again, is this "society" even in existence or functioning anymore? From their web site- looks questionable IMO.
http://www.cellmedicinesociety.org/index.php
Look at that front, main web page- the "BREAKING NEWS", last entry was for June 20th, 2012. OVER TWO YEARS AGO??
The main website copy write info is only updated to 2013? Again, why? They're not maintaining a very simple web site it appears?
"Copyright © 2010-2013 ICMS - International Cellular Medicine Society. All Rights Reserved"
Here is the International Cellular Medicine Society Facebook page- again, last two entries were 2012 and one final on Feb 5th, 2013? Doesn't seem current and up to date, functioning to me, IMO? We're gonna be in Feb of 2015, 2 yrs later in just a few months.
Here is a statement on the "Knoepfler Lab Stem Cell Blog" (pretty respected guy IMO, when it comes to "stem cell" anything pretty much)
His blog has a discussion in which this statement is made:
"Cell Surgical Network has informed me that the ICMS IRB has been cancelled."
http://www.ipscell.com/tag/international-cellular-medicine-society/
Here is an article by a "bioethics" writer who apparently did some research and investigation into this "International Cellular Medicine Society". The link is to his findings and opinions, not mine- but it's published and easily comes up in a Google search of "International Cellular Medicine Society"
http://sctmonitor.blogspot.com/2012/03/more-than-minimally-manipulative.html
Pretty interesting stuff IMHO. The present address as given on their website now appears to be a PO Box in Las Vegas Nevada. So it might of moved from the Oregon location PO Box described in the article above?
So, doesn't make any sense to me? None. Don't know how this is "news" or what it would ever lead to, or amount to, or how it would ever be monetized, lead to a product, etc??
"bid is moving up"?? "Chart shows huge bounce"???
It opened at .0141, a new, LOW bid in the past 8 months. The bid now is at .0145, sub 1.5 cents?
The volume is anemic. What's going to make this "bounce" in here? I don't see a single catalyst or reason why it would "bounce".
The Magna deal and other convertible debt deals, IMO, have enormous down pressure on these shares right now, and I don't see what's going to abate that at this point? They've fired off numerous "PR" and "news" and whatnot and nothing has even remotely moved the price up or abated the sell-side pressure or made even a one-day reversal towards the 50 DMA or 200 DMA?
Not seeing it?
"How come development Pipeline only goes up to 2009? Did they stop for a lone time?"
Yes, they "stopped for a long time", those trials have sat, parked and essentially gone nowhere for going on about 5 yrs now. It's all in their SEC filings.
Latest 10-Q filing, PAGE 29:
"Our most recent completed clinical trials of MyoCell are the SEISMIC Trial, a 40-patient, randomized, multicenter, controlled, Phase II-a study conducted in Europe and the MYOHEART Trial, a 20-patient, multicenter, Phase I dose-escalation trial conducted in the United States. We were approved by the FDA, to proceed with a 330-patient, multicenter Phase II/III trial of MyoCell in North America and Europe, or the MARVEL Trial. We completed the MyoCell implantation procedure on the first patient in the MARVEL Trial on October 24, 2007. Thus far, 20 patients, including 6 control patients, have been treated. Initial results for the 20 patients were released at the Heart Failure Society of American meeting in September, 2009, showing a significant (35%) improvement in the 6 minute walk for those patients who were treated, and no improvement for those who received a placebo. On the basis of these results, we have applied for and received approval from the FDA to reduce the number of additional patients in the trial to 134, for a total of 154 patients. The SEISMIC, MYOHEART and MARVEL Trials have been designed to test the safety and efficacy of MyoCell in treating patients with severe, chronic damage to the heart. Upon regulatory approval of MyoCell, we intend to generate revenue in the United States from the sale of MyoCell cell-culturing services for treatment of patients by qualified physicians.
We received approval from the FDA in July of 2009 to conduct a Phase I safety study on 15 patients of a combined therapy (Myocell with SDF-1), which we believe was the first approval of a study combining gene and cell therapies. We initially commenced work on this study, called the REGEN Trial, during the first quarter of 2010. We suspended activity on the trial in 2010 while seeking additional funding necessary to conduct the trial.
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."
ALL their major phase II/III trials, their oldest and most advanced trials essentially "stopped" a long, long time ago for "lack of funding" per their own words in their SEC filings.
Their R&D spending, aka "trial funding" (trials costs are listed under R&D spending in a 10-K/10-Q filing) per their own SEC filings has fallen to almost nothing. Last qtr, they spent a grand total of about $3K, yes, $Three THOUSAND total dollars on R&D spending. Trials cost typically $10's of MILLIONS to conduct and run, especially phase II/III high quality trials. (they spent $5K for one month's services to a penny stock promotion firm known as smallcapvoices though, just for some contrast on what they spend money on. See the smallcapvoices disclosure page for the paid BHRT promotion of 2014)
Latest 10-Q filing, PAGE 4:(note the ENORMOUS drop in R&D expenditures just from 2013, in which they were already low)
"The Company incurred research and development expenses of $8,581 and $33,916 for the three and nine months ended September 30, 2014, respectively; and $158,381 and $494,762 for the three and nine months ended September 30, 2013, respectively."
R&D dropped from about $500K a yr ago, to about $30K for the same period this year, 2014- meaning, essentially, no "trials" are taking place or being funded presently IMO.
It's all in their own words, in their duly filed SEC documents. "lack of funding" for trials, but $800K in just "bonuses" to two employees were issued in 2014, as were very large percentage base salary increases to those same two employees.
As a side note- the company total market cap just dropped under $8 million this AM. Wow. Total debts are over $10 million.
Opening trade was 1000 shares at .0141. That's $14 bucks worth?? Go figure on that trade? It's now sat for over 1/2 hour since that $14 buck trade, w/o a single additional trade posting?
.0141. Implications for Magna credit line via price dropping everyday.
If BHRT were to need to draw on the new Magna "credit line"- the implications of this continually dropping bid are huge (the SEC filing said they "plan" to draw-down the entire $3 million credit line, they had $46K cash, total, left as of last 10-Q filing).
IF the share price continues to drop- It will mean LESS MONEY for MORE SHARES can be had by BHRT for each "draw" of the Magna line. I don't think this falling price, on higher than avg volumes is by accident IMO. Or that Magna had BHRT do the $300K/$200K convertible "note" deal (aka a toxic financing deal) ahead of the credit line deal.
Look at the formula in the SEC filing- how the pricing is done on the credit line for each "draw request" by BHRT. It's a formula based on some 7% discount to the prior 10 day avg, blah, blah, blah. Typical vulture financing type pricing set-up IMO.
So now the price is down to .0141. Lets say BHRT asks for the max amount of $500K (it's something like max of $500K max per "draw" or 300% of the past X number of trading days- something like that, it's in the SEC filing)
But lets say they want $500K and can "draw" that amount- I know it's no more than $500K, cause it's listed as the max draw amount, something like that.
So you now have .0141 X .93 = .0131 is the new conversion price say, Approx. there abouts (might even get much worse if price continues to drop).
So $500,000/ .0131 = 38 MILLION shares of dilution now to get $500K from Magna. And the number of shares will grow, the lower the share price goes.
So just the $200K Magna note cost 31 MILLION shares already, plus 9 MILLION in up-front "fees" for the Magna credit line before one dime is given from it, plus another 15 MILLION shares set-aside for "additional" costs/fees or whatever to Magna.
So right there, there could be about 31 + 38 + 9 + 15 = 92 MILLION shares of dilution, for about $700K in funds to BHRT.
What does $700K get BHRT? It doesn't even pay the one yr BONUSES of TWO PEOPLE at BHRT. $800K in just annual compensation "bonuses" were recently awarded to just two people in the company. And 92 MILLION more shares of dilution (would put them at about 750 MILLION shares fully diluted as a company, fully diluted shares as of most recent 10-Q were 659,543,477 )- it won't even cover just the bonuses owed to two people at a 4 person, full time employee company (plus 1 part time according to last 10-Q filed).
That's what this Magna deal means to me, IMO.
Latest filed 10-Q, 11/7/14, 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."
"You make a lot of money today when you sold at .0145?"
Never stated I sold at .0145. The statement and it's context was specifically about how the stock was/is trading today and that it just posted a sale at .0145, at the bid.
If one looks at closing price- one will see it indeed "sold" at .0145 today. Nothing more, nothing less.
I never state what I buy or sell, hold or don't hold, nor do I ever make recommendations for anyone else to buy, sell or hold. What I do with my money and my positions is my private and personal business and information only.
Lower lows. Just sold at .0145 and bid dropped now to .0141. Wow.
Not looking good here IMO. All time low was DEC 2013, .0063, 6/10ths of ONE CENT.
This might hit at least the 1 cent price real quick at the pace of last week and now starting off trading like this on day-one of the post holiday week.
Lower lows and lower highs and a sustained, very weak, technical downtrend and volume is picking up as it drops this past 10 trading days or so.
All appears to coincide with Magna "financing" announcements- correlation appears strong IMO.
Totally flat-lined out again. It's about 3 hours now w/o a single trade posting and it's down 3% plus, and the bid is parked at .0145, now in sub 1.5 cent territory.
Last trade was 10:45 Eastern, it's now approx. 1:40 Eastern.
Same, "odd" trading patterns it seems. Some big boy is playing this like a well oiled machine, for at least several weeks now, IMO.
Looking extremely technically weak in here. And I don't think it has anything to do with any year end "tax loss" selling or anything of the sorts. My opinion, this is all related to heavy use of convertible debt type financing and the use of firms like Asher and now Magna.
It's just my opinion- but many other forums (especially right here on I-HUB) describe exactly this type of bid collapse and downward price pressure on many, many OTC stocks when they rely heavily on, and engage Asher, Magna and similar firms (Daniel James and Fourth Man, in BHRT's case) for what is typically called "toxic" and/or highly dilutive type of financing.
" Bioheart list on the CalXStars stock exchange."??
Well, all except the part that the "CalxStars" so called "stock exchange" does NOT EXIST as of today? Other than a "PR" concept- I'm not aware of any public "stock exchange" known as "CalxStars" where one can buy and sell shares of stock in public traded companies- similar to the OTC, the NASDAQ or any other "public" stock markets? Where is this in existence?
So how would "Bioheart list" on a stock "exchange" that DOES NOT EXIST? Not clear how that would work exactly?
Bid, .0145. Whoah. No bottom support it appears. Wow.
This may see 1 cent before yrs end IMO. This all appears to coincide with the Magna deals, the Magna "note" especially, IMO.
Getting pounded for a week now, right after the SEC filings indicated the Manga "note" funding had taken place. Way it looks to me.
There's that .0148 price getting hit again, going sub 1.5 cents. That's twice now (hit the .0148 mark end of last week). They seem to be dropping the bid almost daily, for a week now.
They open it at .148 on 60K plus shares- but now have the bid at .0155 and the ask sitting at a fairly wide spread at .0163? From .0148 to .0163?? Wow. So the bid now sits parked at .0155, well above the opening share sales of .0148? This seems to be the "pattern" being used for a week or so now? Extremely "odd" IMO.
Then "walk it up" a bit during the day. Then have closed it pretty much flat, to down hard, everyday for a week now essentially on very high volumes.
Very "interesting" trading patterns of late IMO. Seems to be no bid support and it's now making lower overall high,s with lower lows on the bid, near daily. The technical down trend is strong with the 200 DMA now under the 50 DMA and the price now being nowhere near either the 50 or the 200 DMA.
Not sure what it's gonna take to break and turn the downtrend around? They've put out a lot of PR and "news" of recent- but the price does not appear to have responded at all. It's appearing to me like dilution and low priced share overhang may now be the dominant, driving force containing the price and price movement IMO.
"Phase 2 for Adipocell "???????
When one can't FUND or ADVANCE their present, longest running, most mature, inside the U.S., FDA quality trials- for "LACK OF FUNDING" per their own SEC filings, then why/how are they going to add-on and take-on another phase II trial? How? Why? How's that gonna work?
So I guess the now, the essentially 5 yr old REGEN and MARVEL phase II/III trials and the vanished MIRROR "phase III" trial are just permanently dead and gone and it's now going to be a "Adipocell" phase II??? Is that it? I'm totally confused and missing the "plan" here? Totally? How many advanced phase II/III trials can one company run- when they have 4 full time and 1 part time employee and just finished their last qtr with $46K (thousand) TOTAL CASH left on-hand? How many trials are possible in that situation?
From their latest 10-Q, posted on November 7th, 2014 to the SEC filing system EDGAR,
PAGE 29:
"Our most recent completed clinical trials of MyoCell are the SEISMIC Trial, a 40-patient, randomized, multicenter, controlled, Phase II-a study conducted in Europe and the MYOHEART Trial, a 20-patient, multicenter, Phase I dose-escalation trial conducted in the United States. We were approved by the FDA, to proceed with a 330-patient, multicenter Phase II/III trial of MyoCell in North America and Europe, or the MARVEL Trial. We completed the MyoCell implantation procedure on the first patient in the MARVEL Trial on October 24, 2007. Thus far, 20 patients, including 6 control patients, have been treated. Initial results for the 20 patients were released at the Heart Failure Society of American meeting in September, 2009, showing a significant (35%) improvement in the 6 minute walk for those patients who were treated, and no improvement for those who received a placebo. On the basis of these results, we have applied for and received approval from the FDA to reduce the number of additional patients in the trial to 134, for a total of 154 patients. The SEISMIC, MYOHEART and MARVEL Trials have been designed to test the safety and efficacy of MyoCell in treating patients with severe, chronic damage to the heart. Upon regulatory approval of MyoCell, we intend to generate revenue in the United States from the sale of MyoCell cell-culturing services for treatment of patients by qualified physicians.
We received approval from the FDA in July of 2009 to conduct a Phase I safety study on 15 patients of a combined therapy (Myocell with SDF-1), which we believe was the first approval of a study combining gene and cell therapies. We initially commenced work on this study, called the REGEN Trial, during the first quarter of 2010. We suspended activity on the trial in 2010 while seeking additional funding necessary to conduct the trial.
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."
MARVEL trial 2009, GONE NOWHERE since.
REGEN trial 2010, GONE NOWHERE since.
MIRROR trial, ONE patient "enrolled" in early 2013, NOT HEARD OF SINCE, other than "waiting on funding"
Same 10-Q, PAGE 4:
Cash and cash equivalents: $46,592
Same 10-Q, PAGE 10:
"The Company has 4 full-time employees and 1 part-time employee."
Same 10-Q, PAGE 12:
"NOTE 2 — GOING CONCERN MATTERS
The accompanying unaudited condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying unaudited condensed financial statements, during nine months ended September 30, 2014, the Company incurred an operating loss of $1,247,199 and used $747,184 in cash for operating activities. As of September 30, 2014, the Company had a working capital deficit (current liabilities in excess of current assets) of approximately $10.0 million. These factors among others may indicate that the Company will be unable to continue as a going concern for a reasonable period of time."
But ANOTHER "trial", a PHASE II (which are extremely expensive and time consuming to conduct) is being added to the already existing list of "trials"?? Really?
Or, now do all those existing, much older and much more mature phase II/II trials just go to the side-lines and now the "news" is "Adipocell" phase II?? What ever happened to MIRROR, the PR reported PHASE III? Wouldn't it get funded first ahead of any "new" Adipocell whatever trial? Or REGEN or MARVEL, since they're 5 yrs old now- wouldn't they go first??
Which of the 4 full time and 1 part time employee (SEC filing states the employee count) are going to work on this "newly reported" Adipocell phase II "trial", while all the other trial(s) plural are taking place, plus the "medical tourism" stuff, plus all these around the world "partnerships" and what not from PR?? How is all that going to happen?
I'm not "getting it" IMO? Very confusing to me, in my 2 cent opinion??
Holy cow- look at the volume and making lower highs and lower lows. Bid is now at .0145 on higher than avg volume. Wow.
What the heck is going on with this one lately?
I find this "odd" trading action to be conspicuously "coincident" IMO, with the Magna $205K, 31 million share convertible "note" being "funded" already according to that last filing.
Just have a hunch there's a connection to Magna and what this is doing now going on approx one week. My 2 cent hunch, nothing more.
Up 2.70% at .0152 ???
So they did close it down below .0150 yesterday? I saw my screen flash negative 6.x percent, down, red, 3 or so minutes after close of market, but later it went back to .0153, down 3% or so as the final close it showed? That's what the last I-Hub ticker showed, I believe all night?
So it really was down at .0148, down 6% when they closed it yesterday it appears, if they're printing .0152 this AM, as being "up" almost 3% ??
What is going on with this thing?
It opens today, 6 seconds after 9:30 AM Eastern, positive 2.70% on a 1000 share trade?
That's 1000 X .0152 = $15.20
Someone really did a trade for $15 bucks, up about 3%? Really? 15 minutes later now, not another share has traded. Parked at $15 bucks opening trade. So it's flat-lining on $15 bucks traded.
Oh, there it went, right when I posted. 15 minutes after the opening 1000 shares, it just posted another trade, now on a large spread, up almost 6%, at the Ask. So it looks like they made um pay the Ask, the wide spread. Wonder if this is going to be the repeat pattern of the past several days? Get um on the Ask in the AM, then later, unload a bunch, driving it down?
We'll see.
Agree. Today's, yesterday's and at least one of the day's last week. Totally weird to say the least.
But holy cow it was fugly ugly again today- wild weird.
It sat parked for about 4 hours today- 10:30 AM to 14:30 (2:30 PM) Eastern- essentially no trades looks like. Then it blasted out, looks like about a 1.5 million share trade and then about 1 hour later another 1 million or so, then goes dead, and doesn't trade much of anything, sitting for like 17 minutes into market close, then shows 3 or 4 minutes after close as last trade. OTC pennies don't trade after hours- so I don't know if that was a "clean up" print on the tape from some final trades clearing or what?
So again, it goes from a sluggish AM, flat-lines out for several hours, then ends up blasting through the roof to 3 million plus shares, but the bid and ask barely budge- they end up closing it red, down a few percent? No news, nothing really happening? What the heck was that all just about?
I have a gut feeling there's a lot of shorting in all this somehow and at some point, they (Asher, or my personal feeling this is Magna now) I have a creeping suspicion that at some point coming up, they're gonna bury this like with a shovel, and then use some of those 31 million shares they just got, at what works out to like 6/10ths of one cent, to cover that short when they drive it into the the dirt.
That's just my suspicion and a total guess- no way to prove it and I'm a total amateur at this. But wow, no way IMO this is some Joe Schmoe retail folks all sending in orders from E-Trade or whatever- just no way, no how do I believe that.
This is getting really bizzaro. I don't remember this ever really trading like this. They ran it up on news sometimes, it then sold off sometimes, the late Dec 2013 big sell off was wild- that's as close to this as I can remember. Where they took it to 6/10ths of one cent in a blink, out of the blue.
Who knows where this is going anymore IMO, or who's in the driver's seat of the trades? I don't think a retail buyer/seller has a chance up against whoever is presently playing/working this thing like a well oiled machine.