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And WHO/WHAT is "Magnum" other than apparently a web site and a 6th floor office building location. Nothing on their web site even lists how many doctors/physicians they have, a look at their facilities, any other salient detail are missing in typical BHRT PR fashion: there is zero reporting of what Magnum's revenues were, say last yr, how many employees they have, are they profitable, how many stem cell "procedures" they have ever performed, how are they capitalized, their valuation estimate (as BHRT took 10% ownership- but in what, who knows?), etc. From an investment stand point, that PR said pretty much nothing. Nothing that can be verified as to its effect on BHRT in terms of revenue, or cash flow, or sales, or anything else of that nature. A more "vague" PR I don't think can be written from an investor's point of view. Generalities. That's what I read. I searched "Magnum Stem Cell" exhaustively in Google and get nothing. Nothing but today's BHRT pr and the Magnum web site- which doesn't say much, that much is for certain- it's about as plain-jane as they come IMHO.
NO NEWS- no new revenue announced, no imminent possibility of significant revenue(s) even implied, they already are in a supposed Phase II/III that has gone nowhere so a FIVE person "trial" in Mexico (not U. Miami as originally "claimed" in the original PR) is a non-event, they are dumping shares by the 10's millions to keep survival cash coming in, they have diluted the common by an enormous amount in a very short period of time, etc, etc. Everything you posted there is noise level and in no way explains a ONE DAY, 24 hour period quadrupling in price, followed by a 50% dump in price within 48 hours- no way, no how, not even close. It takes a lot more than that "stuff" you posted to explain how the price went berserk and the volume too- no normal stock trades like that. On a listed or "big board" stock- it would almost certainly trigger an automatic investigation. Nice try though. Really.
Well, when they gave um the shares at less than 2 cents and say, somehow the stock just gets blown up from .02 or so to .08 in about a 24 hour trading day on no news of any merit or real substance- um, try putting the puzzle pieces together? You really "think" any stock trades like that under "normal" trading behavior or patterns- especially with a float as large as this? Please. A quadruple in price preceded by "tweet blasts" and chat boards suddenly posting 100 or more messages a day after being nearly silent for months? Really? Not the way I see it. To each his own. I know what I call a price run and subsequent 50% of greater price collapse like this just had. It's common in penny-land.
"BioHeart are a leading company amidst a paradigm shift in medicine. "?? I find the statement that ANY company trading at sub 5 PENNIES, with essentially no cash at any given moment, 4 to 5 employees in a small, rented "suite", etc is a "leading" anything and certainly not behind or the driving force of any "paradigm shift in medicine"? What a vapid, imaginary based statement with no facts to back it up whatsoever. They trade at sub 5 pennies and a micro, micro market cap for a reason. You figure it out.
If the majority of any of the things you mentioned had already actually "happened" - you'd have already seen them in an official PR. Companies can not "sit" on key, material event "news" such as financing relationships, key deals, etc. So no, I don't expect anything new other than more dilution, very little cash on the balance sheet entry, a near word for word copy of past 10-Q/10-K docs which has been the norm for about 2 yrs now, etc. Nothing "new" expected IMO. I'll look for a) the share count page 1 then b) read the balance sheet with the cash line, line one being the first thing I look at. Then, I'll go down to the details in the "financing" section and do a search for the words "note" and "convertible", etc. I'll look for the "Mirror" section, and if it's as last report- it barely got a passing mention and had no updated info. I don't expect much difference now- if they had key enrollment metrics, they would have already released them. I'll then search for all the other PR "deals" released over the past 6 months or so, and if it's SOP, I don't even expect to find them mentioned or very little to be said about them. That's about it in a nut shell.
Who "finances" BHRT EXPLAINED: here is a I-HUB page someone else built that gives a very good insight/explanation into what it's like to "do business" with Asher, just one of several "desperation financing" firms that is littered all throughout the BHRT 10-Q/10-K's of at least the past 2 yrs or more. I gave many references a few posts back, as to how many times BHRT has used them in just the past 2 yrs- all taken direct from the BHRT 10-Q/10-K documents.
This I-HUB page the other poster built explains very well why doing business with firms like this are so "toxic".
http://investorshub.advfn.com/~-ASHER-~-25451/
It's called the "Asher board" and it's right here on I-HUB. READ IT if you want to know who is "shorting" BHRT and why.
Examples of WHO WOULD BE "short" BHRT and how desperate their financial situation really is. Lets cut the hype and go to the facts, the SEC documents. I've just cut n pasted a "sampling" - it'd take hours to get all the info as it is pages long. But when you see "convertible" - think "shorting the stock" by that person providing the "financing". 2) Look at how desperate the terms of the financing are (steep share discounts) and for what a pittance of cash they bring in- $20K to less than $100K typically- survival money on a month to month basis esentially, as the cash balance line in each of those same 10-Q/10-K will show cash near zero each time. 3) Each report also contained a "going concern" letter from the auditor, as the cash trickling in from these deals is barely enough to service the debt, let alone supposedly be conducting vast "trials" and world wide operations, paying their salaries of 4 or so employees, rent, etc. This is just a sampling, all taken from the company's own SEC filings. Want to moan and groan about "shorting"- then read the names in these "financing" deals- cause they are the ones incentivized to be short the stock and they have the means to do it- being professional firms, some of them very well known on the street as "financiers of LAST RESORT" for company's on life support. What you will note is a pattern of POURING OUT SHARES BY THE MILLIONS LIKE WATER- thus the massive dilution that is easily noted by looking at the ever increasing share count with each passing 10-Q/10-K:
10-K Dec 31, 2011
As of March 26, 2012, we had cash and cash equivalents of approximately $1,700 (yep, that ONE THOUSAND, SEVEN HUNDRED BUCKS TOTAL- for a public traded company, AMAZING) and a working capital deficit of approximately $12.3 million. As such, our existing cash resources are insufficient to finance even our immediate operations.
If we are unable to secure additional financing in the near term, we may be forced to:
•
curtail or abandon our existing business plan;
•
reduce our headcount;
•
default on our debt obligations;
•
file for bankruptcy;
•
seek to sell some or all of our assets; and/or
•
cease our operations.
If we are forced to take any of these steps, any investment in our common stock may be worthless.
The loans evidenced by the New Magna Convertible Note are in the nature of convertible debt evidenced by two unsecured convertible promissory notes, each bearing interest at the rate of 8% per annum, payable at maturity and each convertible into common stock of the Company at a price that is 50% less than the average of the closing prices for the Company’s shares for the five (5) days prior to the Lenders’ election to exercise its conversion right.
• In January 2011, the Company issued an aggregate of 538,542 shares of our common stock in connection with the conversion of $87,729 of the convertible note.
• In February 2011, the Company issued an aggregate of 421,392 shares of our common stock in connection with the conversion of the remaining balance of $52,000 of the convertible note.
10-K, Dec 31st, 2012
Unsecured Convertible Promissory Note for $63,000, with Asher Enterprises, Inc. dated April 2, 2012
Unsecured Convertible Promissory Note for $125,000, with IBC Funds, LLC, dated January 10, 2013
Unsecured Convertible Promissory Note for $42,500, with Asher Enterprises, Inc. dated January 23, 2013
Unsecured Convertible Promissory Note for $37,500, with Asher Enterprises, Inc. dated February 27, 2013
10-Q March 31st, 2013
On January 9, 2013, the Company issued an unsecured promissory note and 2,500,000 shares of common stock with IBC Funds LLC. (“IBC”) in the principal amount of $125,000 (the “Note”).
The Note is convertible into common stock, at IBC’s option, at a 60% DISCOUNT to the average of the three lowest closing prices of the common stock during the 5 trading day period prior to conversion.
During the three months ended March 31, 2013, the Company entered into a Securities Purchase Agreements with Asher Enterprises, Inc. (“Asher”), for the sale of an 8% convertible notes in aggregate principal amount of $80,000 (the “Note”).
The Notes bear interest at the rate of 8% per annum. All interest and principal must be repaid between September 11, 2013 and November 22, 2013. The Notes are convertible into common stock, at Asher’s option, at a 42% DISCOUNT to the average of the three lowest closing bid prices
On February 4, 2013, the Company amended its Articles of Incorporation to increase the number of authorized shares to 970,000,000, consisting of 20,000,000 $0.001 par value preferred stock and 950,000,000 $0.001 common stock.
During the three months ended March 31, 2013, the Company issued an aggregate of 4,933,891 share of its common stock for settlement of $72,339 of accounts payable. In connection with the settlement, the Company recorded a loss on settlement of debt of $74,401.
During the three months ended March 31, 2013, the Company issued 2,500,000 shares of its common stock in connection with the issuance of a note payable.
During the three months ended March 31, 2013, the Company issued 1,000,000 shares of its common stock in connection with the settlement of a note payable.
10-Q June 30th, 2013
During the six months ended June 30, 2013, the Company entered into a Securities Purchase Agreements with Asher Enterprises, Inc. (“Asher”), for the sale of 8% convertible notes in aggregate principal amount of $112,500 (the “Asher Notes”).
4. The Notes are convertible into common stock, at Asher’s option, at a 42% to 45% discount to the average of the three lowest closing bid prices
10-Q Sept 30th, 2013
Cash and cash equivalents : $6,684.00 DOLLARS.
During the nine months ended September 30, 2013, the Company entered into a Securities Purchase Agreements with Asher Enterprises, Inc. (“Asher”), for the sale of 8% convertible notes in aggregate principal amount of $170,000 (the “Asher Notes”).
The Asher Notes bear interest at the rate of 8% per annum. As of the quarter ended September 30, 2013 all interest and principal must be repaid nine months from the issuance date, the last note due June 11, 2014. The Notes are convertible into common stock, at Asher’s option, at a 42% to 45% discount to the average
On August 1, 2013, advances in aggregate of $22,750 were converted into a demand promissory note with 5% interest per annum. On September 30, 2013, the Company issued 1,995,614 shares of common stock in settlement of the $22,750 promissory note.
On September 30, 2013, the Company issued 8,771,929 shares of its common stock as payment of $100,000 towards cash advances.
On November 2, 2011, the Company and Greystone Capital Partners (“Greystone”) entered into a Standby Equity Distribution Agreement (the “Agreement”). Pursuant to the Agreement, Greystone has agreed to provide the Company with up to $1,000,000 of funding for the 24-month period following the date a registration statement of the Company’s common stock is declared effective by the SEC (the “Equity Line”).
During this 24-month period, commencing on the date on which the SEC first declared the registration statement effective, the Company may request a draw down under the Equity Line by which the Company would sell shares of its common stock to Greystone, which is obligated to purchase the shares under the Agreement.
For each share of the Company common stock purchased under the Agreement, Greystone will pay eighty percent (80%) of the average of the lowest daily volume weighted average price for five consecutive trading days immediately preceding Advance Notice (the "Valuation Period") commencing the date an Advance Notice (the "Advance Notice") is delivered to Greystone in a manner provided by the Agreement. Subject to certain limitations and floor price reductions, the Company may, at its sole discretion, issue a Put Notice to Greystone and Greystone will then be irrevocably bound to acquire such shares. The registration statement of the Company's common stock pursuant to the Agreement was declared effective on February 10, 2012 and a Post-Effective Amendment was declared effective on May 7, 2013. On December 1, 2012, the parties to the Equity Line agreed that the Purchase Price be adjusted to seventy-five percent (75%) of the lowest daily volume weighted average price of the Common Stock as quoted by Bloomberg, LP, during the five (5) consecutive Trading Days (as such term is defined in the Equity Line) immediately subsequent to the date of the relevant Advance Notice.
During the nine months ended September 30, 2013, the Company issued an aggregate of 12,658,545 shares of its common stock in exchange for $200,000 draw down on the equity line.
1) There is NO, NONE "shorting" of a 4.5 penny stock by any retail investor. PERIOD. End of story. The only people "shorting" this stock are involved in providing "financing" to BHRT. They get "convertible notes" along with steeply discounted shares in exchange for providing cash to BHRT. Those convertibles are thee incentive for them to short the stock to get more shares, and cover at a greater profit. There is never "shorting" by retail investors of stocks generally under $5. Call any broker/brokerage house you want and prove me wrong. The ONLY "crony" friends as you call them (your made up words) are the people who BHRT WILLINGLY GOES TO, off free will to get survival cash to keep their doors open (Asher, Gray and about a half dozen other well known "finance houses of last resort" on the street. Anyone familiar with penny stocks in desperate straights knows all the names and they are in every 10-Q BHRT put out, if you would just take time to actually read them.
2) There is no "mm" in the OTC/pink sheet markets. There are broker/dealers who are subscribers to a variety of trading networks and licensed to handle order flow in the OTC/pink penny markets. So you are using a 100% incorrect term.
3) Pull up a simple, 2/3 yr chart- say Jan 2011 to today, and you'll see this pattern of pumping and dumping is nothing new. It's a very repeated pattern in this penny. It's now been whacked in half from the .08 peak, and all the past, similar "events" did the exact same, then drifted back to .02 or even lower in the coming month. The volume dropped off sharply with each passing day from the peak- yesterday being the lowest, meaning the mo-mo pump play is over IMHO. Nothing new here occurring. Just same old, same old for this penny play.
347 Million is a LAGGING number- it's gonna be a lot more than that today. That's from the last 10-Q. They dilute in massive quantities to keep their survival cash coming in- it, for the most part, is the only source of cash they have.
As of November ____, 2013, there were 347,175,310 outstanding shares of the Registrant’s common stock, par value $0.001 per share.
As of August 6, 2013, there were 236,657,436 outstanding shares of the Registrant’s common stock, par value $0.001 per share.
As of April 30, 2013, there were 200,623,903 outstanding shares of the registrant’s common stock, par value $0.001 per share
So in about 7 months or so, they diluted from 200 million outstanding to 347 million out- a staggering dilution in that short a period of time. Remember, the April 30, 2013 date was when they blew through their outstanding allocated per their charter, so they just amended it and chose a HUGE number of almost 1 BILLION shares, I believe about 950 million or so. Why do you think they'd pick such a staggeringly high number? Cause they knew just to survive a yr, maybe a yr and a have they'd be pouring out shares like water and blow on past 500 million or so w/o even trying hard.
This coming 10-K, page 1 will have the number. If you look at that trend above, they're easily going to be past 400 million shares, I think well past- as in at least 425 million minimum. The common holder has been for the most part diluted down to toilet paper status. Further, they, via the stroke of a pen- redid the Northstar preferred shares to insure that Northstar, even if the 950 million share count or whatever is reached, always controls the shareholder vote. Their preferred shares get like 20 or 25 votes to every common. So the common shareholder in this company has ZERO "rights", none. Nothing ever could, or ever will be put to a vote of the shareholders (common) as there would be no point to it. They've essentially handed the entire company over to Northstar- they pretty much own/control it all, all for a loan of about $600K dollars. Not a bad gig if you can get it.
Andy, it's certainly true the broader markets took it pretty heavy on the chin today. What I find interesting when following BHRT- is that it usually has no relation to what the broader markets, or even other stock segments are doing (bio, pharma for example). BHRT seems to always just "dance to it's own tune". Market has a huge rally for months or a big up day and BHRT goes down or down big. Market has a terrible day- and there's ole BHRT all the sudden trading strong for several days. I've never found a correlation on this one? It's a sorta lone wolf out there usually IMO.
My opinion- volume has dried up sharply indicating the pump is over. Expect lower highs and lower lows from here as it drifts down. A single significant sell order can sink it 20% or more in one fell swoop as we've seen many times in the past, and in just the past few days.
All down hill from here, IMO. 2 cents is where it's "naturally" attracted to. But hey, as of today- the market cap is just about equal to the debt so the company is now valued at about zero, as opposed to negative. Not bad.
"the more this stock goes up"?? Up? You do realize the stock is DOWN like 95% plus from it's IPO price correct? Pull up a 5 yr chart. Nothing about BHRT is "up"? That would certainly be a stretch to say the least. They've burned through over $100 MILLION n cold hard cash, are trading at around 5 pennies or less, have a return on equity so negative I don't think most site can even calculate it accurately, they're deep in debt, cash poor, etc, etc. I don't think that's hardly an "up" scenario? Sorry, but those are just the simple facts.
I'll add to your "insight" on why/how penny stocks may/often trade as they do. One is from right here on good ole I-HUB (watch his video, "anatomy of a pump n dump", it's down a ways on the page, but explains very well how a penny stock can go from 2 cents or less, to .08 and then back to 3.5 cents in a period of less than 3 full trading days)
http://investorshub.advfn.com/ALL-THINGS-AWESOME-ATA-24599/
Also, here's info from our own U.S. gov SEC site summarized on a reputable Investment site on penny stock trading. It explains in detail, using a lot of the SEC's own info what to look for, watch out for regarding a micro cap like BHRT and "erratic" trading patterns such as the past week.
http://www.investopedia.com/articles/03/050803.asp
And here's one last, well written piece- again explain how/why a penny stock will often go through a "violent" up move, down fall move like BHRT just did in under 4 trading days:
http://www.valuewalk.com/2013/06/sec-finra-warn-against-pump-and-dump-penny-stock-emails/
Just posting some "educational" info to add to what you posted. Knowing more info is a good thing. Happy trading.
Cj, BINGO !! The million dollar question. The Mirror trial was announced July 2nd, last year. That is what, 8 months, going on 9 months now. And the ONLY "news" they've ever put out about it, that I am aware of, is ONE PATIENT "enrolled". In the last 10-Q, please read it, it barely got a boiler plate, "passing mention"- I can copy the line from the 10-Q if needed.
Yep, I have the exact same question you just raised. To me, Mirror has just "vanished" and all this other "stuff" (vague "deals" and "partnerships" and whatever) have been blasted in more than a dozen PR's in the meantime?? Are they an FDA approved "trial" company pursuing and "end game" of a USA, FDA approved, salable product? Or have they totally changed direction into "medical tourism" in 2nd and 3rd world countries? I don' think with 5 or so people- you can play in all these fields at once, I find that impossible in my opinion. A phase III alone takes huge amounts of money and normally a staff of 20 or 40 or even 100 people or more. Look back at BHRT's IPO days- that's the kind of staffing they had, full of regulatory experts and similar.
Dubb just said about 6 months to "enroll" 120 people- I haven't even seen that. Further, I'm not sure that is even factual- I've done and seen a lot of trials and don't know of any industry "fact" that says "enrollment is the longest part of the process" - I'd challenge that as being a factual, industry substantiated statement?
http://www.marketwired.com/press-release/bioheart-announces-phase-iii-mirror-trial-for-myocell-initiated-otcqb-bhrt-1807938.htm
What to I think? "Although I can make no assurances"- well, he pretty much covered his legal bases right there. IMO a very carefully crafted statement from a legal perspective. "it is my belief"- well, I don't put much on "belief" I want cold, hard facts.
How bout this- just tell us how many have even been enrolled in "Mirror", let alone "treated", let alone any data compiled. Last update was qty-2 10-Q's ago and all it said was "one enrolled" and we haven't heard a legal SEC type document update since. Those are the only ones that matter to me. You can blog, PR, chat, whatever- but it's that 10-Q, 10-K that matter in the end. I don't know how many PR i can find form BHRT, that were later, never mentioned again in any later 10-Q or similar. It's in the dozens. No revenue came from a "deal", no "partnership" was later mentioned in the 10-Q or amounted to revenue, etc. Seen it for 2 plus yrs.
So what do I think? I don't think much until I see it in a SEC, audited my preference, document like a 10-K or similar.
"Do your DD, Mike Tomas brother is a Managing Partner of Burger King South America, Mr. Tomas is rich, rich like do not have to be a CEO of a broke Biotech rich because I closed a $1billion telecom deal early last decade"?
So, based on that entire post- my logical question is WHY them doesn't "rich rich" Tomas and his brother (rich) and a few friends just buy out BHRT's debt (it's only about $13 million or so) and then take the company private or something of that sort?
Why would they have diluted the shares by almost 100% now, in under 8 months to pay debt, salaries, etc if these "Rich" people are all over the place in relation to them and could buy them out- especially back at one penny for under $20 million ,debt and all? SERIOUS QUESTION I'm posing to you?
Look at it this way- if you were "rich rich" and the CEO even made a promotion video saying this is a $1 BILLION opportunity (his words) - then if you were a savy, rich guy with a rich brother, rich friends- wouldn't you step in and buy it for a pittance and then reap the $1 billion prize down the road? Northstar now controls all shareholder votes- so they could approve the buy-out with no common shareholder input?
See how these things sound pretty good and interesting and all- but when you think them through there are gaps, things missing that don't make any sense. MANY companies today are being taken private as the main stakeholders feel the market is not valuing them fairly, the SEC reporting and laws are a huge burden to their freedom to run the biz their way, etc. Best Buy being a recent one and DELL, a mega computer company where Michael Dell put an enormous stake of his own net worth on the line to take it back private.
Any speculation InvestorStem as to why you think/don't think Tomas and "friends" haven't just put together the money and bought this back and then could clean up the debt/books and reap a much larger reward for themselves? I'm curious as to your thoughts? Seem logical to me that if he's that connected to money- it'd be easy to do. A typical scenario might be assembling 10 to 20 high net-worth people who put out $1 or $2 million each and raise say $20 million and just buy-it-out, as the street term says, "take it private"? Thanks.
Andy- I can go back and easily find at least a dozen "PR's" or "blog" statements- that later, were never spoken about or heard about again- especially ever being mentioned again in a subsequent 10-Q or similar, let alone ever amounting to any revenue being generated. I can do it easily.
The crown jewel PR being when ole Northstar said they were going to raise $20 MILLION dollars in a "private placement" for a 1/3 interest in the company. What was nearly comedic about that one- was the company market cap at the time (I'd need to go back and check to be 100% factual) but I believe it was about $4 million or something. So they casually "toss out" this PR, that a guy who runs/ran a "masonry company" in MN, is now a "venture capitalist" and is gonna go out and sell to "sophisticated investors" (definition of a private placement requirements) - he's gonna sell them 1/3 of a company for $20 MILLION that as of that time was being valued by the market at $4 million or so?
Never heard another word about that "PR" and no cash has ever been raised in a "private placement" that I'm aware of. Share dunping "on the street" - heck yes. Private placement putting $29 mil on the books- um, that's a big no as far as I'm aware and was never mentioned again. And Northstar "headquarters" was a home, his home out in po-dunk MN. You could see it, photos and all as it went up for sale for a while on Zillow and other sites (think Century 21 was listing agent) - nice looking place he had/has- I viewed all the interior photos and overhead shots and all.
See how these guys "work" sometimes? Just toss out a "PR" and then you never hear about it again- but it sure sounds good at the time. I've seen this over and over and over again with BHRT. I've combed the 10-Q's looking for what happened to all the previous announced "deals" and what not, never to find them again.
But hey, maybe you know something different? Fill us all in as we'd like to know. Thanks.
Investor- thanks, interesting read. I agree- the mgt at IPO boned it up about as bad as an IPO could have ever screwed the pooch. It seems like who's here now is the "clean up" team trying to salvage what they can as they all had money on the line. I knew of Marino of football fame being an early investor- that poor guy has lost boatloads of his net worth on more than one investment gone bad, lots of articles about it (like to many ex-pro ball players, sadly). And yes, I agree Murphy is the real deal, but as you stated- he's way up there in age, not sure how much more he's gonna be able to do for um? And Tomas, as the way I read it was installed as the Astri group had a lot invested going way back, saw the IPO all boned up and they had to get someone in their to try and recoup and salvage what they can. Still, they seem to be in the cash-squeeze and financial hurt locker no matter how you slice it- including a lot of old debt/loans hanging over their heads, unfortunately. So what's your read on the best scenario of how/if they ever dig out of this? And also- what's your take on why they seem to be diverging from the hard charging goal of FDA approval on a single product or two products- to now this shmattering of 3rd or 2nd world "medical tourism" and all the other "odd-ball" stuff (my words/opinion)? Any thoughts on that- they seem spread awfully thin for the number of people they have- just the phase III would seem like pulling a rabbit out of the magic hat. Lastly, so you're not troubled at all if you were to become or are a long term common shareholder that Northstar seemingly has been granted "lien/ownership" to essentially everything BHRT has or may ever have? That one really has me puzzled? As stated in my previous post- it's as if they could shutter/shut down BHRT if needed and then Northstar simply would get a clean slate, wipe the debt in BK court, own all the intellectual property, trials data, etc and could fire up under a new name the next day? Any take on that? Thanks.
Volume drying up, spreads opening up- typical for BHRT. It traded down HARD on 3 or more times the volume, now the broker-dealers open the spread back up and walk it up on much lower volume. One major sell order coming back through can tank it so hard your head will spin off. Seen this so many times with this one. Whoever handles the order flow on this penny is as shrew, brutal as they get in my opinion. Watch the VOLUME as much as you watch price action- it tells more of what's really going on. That, and the spread. They open the spread so wide on this, so often that a trivial buy can bump it 10% to the upside. There's still a lot of air to be let out of this tire IMO. Good luck.
Dubb, I'd never go as far as to say anyone is "lying" - that's a pretty touchy subject/statement. From my understanding of a public traded company and the way the SEC "sees" things- if they know a material event, they can't or aren't supposed to "withhold" it. I believe that in public companies, when you know something good or bad that would 1) Potentially affect share price or 2) Tell something good or bad about the direction of the biz that may influence how public shareholders buy/sell/or hold, etc then you are supposed to release it as soon as known. There are famous cases (MCI, Enron, Lehman etc) where the insiders "knew" things and withheld them for whatever reason and it got um in mucho big trouble later on. They also shall we say painted a "rosier" picture than was reality (not saying that's the case here) So, as to the trials- I think it probably just comes down to cash/money in the end. They are in the hurt locker for cash. Really, I think limping along, surviving about one to two months at a time, as they need to dump shares and do "financing" to keep that $100K or so coming in each month, then back to zero cash, wash-rinse-repeat. I can check, but I think even in that last 10-Q, they might have even forgone some salary payments and were "owed"- that's how low the cash was/is and may explain the whole, recent debt-for-equity deals being released on SEC form updates. They may be partly giving them those common shares and options that vested immediately because they may be going w/o pay- I'd have to re-read the 10-Q carefully and find the exact verbiage, but I got that impression on one read through a while back.
I do find many things "troubling" as stated: Northstar appearing to have rights/ownership to nearly everything (the lien, I'll post the Northstar verbiage below for reading- it's from page 27/28 of 10-K), Comella being spread all over the map on multiple undertakings, BHRT seeming to "switch" from a straight-ahead "pitch" that their end game was and would always be pursuit of an FDA approved product/process to be their future, to now dabbling in/releasing PR about IMO opinion all kinds of screw-ball stuff from "deals" to "partnerships" to 3rd world countries- I mean how can the few people they have even manage what's on their plate with the Mirror trial, let alone supposedly be doing all this other "stuff". I guess the way I read it is I "smell" desperation. What I'd call the ole, "throw everything at the wall and see what sticks" mode. Like they lost their core/key direction a while back. Not hearing about Mirror for like two 10-Q's now, other than ONE patient "enrolled", while at the same time getting what, like 10 to 20 Pr's about all sorts of vague "stuff" is again, troubling. Why, how, for what motives they're doing what they're doing?? Who the heck knows- I'd like to know. Will I maybe flip it for a trade if I think the timing is right- sure, why not. Would I be nervous as heck about holding a long, larger position over say a weekend? Heck yes- this type of company from my experience can be the one where you wake up on Monday and the PR is out there saying, "LIGHTS OUT", thank you, goodbye. As in we just defaulted on a major debtor and it's over. I've had it happen to me in the past- and I fell in love with the company by mistake. I'm kicking myself I didn't buy a boatload on that .063 fall, I had a double edge, split thinking that day- 1) I thought that might be the lights out day announcement and 2) The other half of my brain said someone just dumped a boat load and you should buy and ride the rebound. I went gun shy and waited. Oh well, a trade missed is better than a big loss. I feel bad about this 3 day "event" cause I know a lot of amateurs probably loaded the boat at .05 to as high as the very peak of .08 and didn't set a mental or physical stop-loss to get out and are now drowning underwater. Last time this happened on BHRT, it was about a 2 yr program to get back to break-even for a lot of folks. Oh well, it's a penny stock, what do we expect?
Northstar "described"- NOTE LANGUAGE of a "lien" on nearly everything BHRT does/or may own. Also note they disclose that Northstar may hinder future ability to "get financing" and other things stated. It's "interesting" to me to say the least. Again, I can't remember ever seeing something like this being set-up in a public traded firm. It's like a private company within the public company to me- and the private one owns/controls everything? Weird as heck to me?? Page 27/28 10-K:
"On October 1, 2012, the Company and Northstar entered into a limited waiver and forbearance agreement whereby the Company agreed to issue 5,000,000 shares of Series A Convertible Preferred Stock and 10,000,000 of common stock in exchange for $210,000 as payment towards outstanding debt, default interest, penalties,
27
professional fees outstanding and due Northstar. In addition, the Company executed a security agreement granting Northstar a LIEN on ALL (notice ALL - my emphasis) patents, patent applications, trademarks, service marks, copyrights and intellectual property rights of any nature, as well as the results of ALL clinical trials, know-how for preparing Myblasts, old and new clinical data, existing approved trials, all right and title to Myoblasts, clinical trial protocols and other property rights. In addition, the Company granted Northstar a PERPETUAL (forever) license on products as described for resale, relicensing and commercialization outside the United States. In connection with the granted license, Northstar shall pay the Company a royalty of up to 8% on revenues generated.
In addition to the LIMITATIONS IMPOSED on our operational flexibility by the Northstar loan as described above, the Northstar loan, the Seaside National Bank loan, our obligations to the Guarantors, and any other indebtedness incurred by us could have significant additional negative consequences, including, without limitation:
•
requiring the dedication of a portion of our available CASH TO SERVICE our indebtedness, thereby REDUCING the amount of our cash available for other purposes, including funding our RESEARCH (that's a BIGGY- my words0 and development programs and other capital expenditures;
•
increasing our VULNERABILTY to general adverse economic and industry conditions;
•
LIMITING our ability to obtain additional financing;
•
LIMITING our ability to react to changes in technology or our business; and
•
placing us at a possible competitive DISADVANTAGE disadvantage to less leveraged competitors.
In fiscal 2012, the Company paid $263,560 in principal and $15,897 in interest. As of December 31, 2012 the balance due Northstar under the Loan is $601,227."
That's a BIG ENCHILADA to swallow in my opinion- and those insiders have been GIVEN ALL THAT/THOSE "rights" for what it says on the last line is about $600K owed. Like they own/bought the entire company and made it their own baby for a $600K loan?? See what I'm seeing? Troubling a bit? Again, the way I read that- if BHRT went belly-up tomorrow, it's as if they have set-the-table for the Northstar insiders to be able to walk away holding all the cards and owning all rights, intellectual property, etc and they could just set up shop two doors down and start it all over again? It just doesn't pass the "smell" test to me and has bothered me since the first time I read it.
"But man, to buy 330k shares or so shows good support "?? The stock "unloaded" HARD to the downside yesterday to the tune of 11 MILLION or so shares traded. About $380K or so dollars traded (estimate). SO who or where is this 330K "buy" and how would that be "support"?? 330K x .032 = $10K or so dollars. That's hardly a "big" support or some "big boy" buying? Compare that to the past two days of selling- where I'd guesstimate about $200K plus or more shares were sold.
So, not sure where you're coming from on that post? A $10K buy is noise level money. That could be 3 people buying $3K each- hardly impressive?
Uh, as of their last 10-Q, the cash line on the BALANCE SHEET listed cash and cash equivalents of SIX THOUSAND DOLLARS. I keep more than that in my personal checking account my friend and more in the savings account- that's just to run a household, have a rainy day money that's easy to access, home repairs, car repairs, etc.
$6K cash for a public traded company with salaries, rent, insurance, overhead, etc? That my friend is BROKE. Their auditor's in the "going concern" warning agreed. So unless you have some evidence otherwise- please help us out here? Further, you'll note via reading the 10-Q that nearly all their money goes to SG&A- that's code for salaries, overhead, interest on debt, etc. Very little is going to so called R&D, which is code for "trials" and anything else they'd be pursuing. In other words- they're paying themselves and keeping the doors open, but not a lot of money is going to the supposed entire purpose of FDA "trials"- which should raise a flag in my opinion. Maybe that's why as of last update- the Mirror trial had basically gone nowhere. And Marvel has been dead/idle since 2009 or so??
But Dubb, lets be realistic OK- so far the Phase III has dropped off the radar it appears and all we get now is PR about odd-ball "medical tourism" and 3rd world country "deals" and then Angel, a "new" Phase I being in Mexico of all places when the original PR about it said University of Miami was going to be the place. The other Phase II/III trial, Marvel was clear back in 2009 and pretty much has died. Their own 10-K/10-Q said they "hope" to restart it someday but never could get "funding" for it. I mean- it's a long, long, long shot- lets be real. They, in my opinion are not even remotely close to any FDA approval of anything and don't have the money to do so anyway. Again, be real and grounded and not in the clouds on the reality facing the situating. It's not trading at under 5 pennies cause things are going super well or anything- I mean, lets face some facts.
Could they pull a miracle rabbit out of a hat? Sure. A hail mary is just that and happens every once in a while on this planet. But these guys are as the old band name says, in "Dire Straights" as far as every key financial reality I can see (IMHO). An old biz saying says, "CASH IS KING", and they ain't got much cash on any given day and that's despite selling shares by the truck load full . From over 200 million shares outstanding what, only 8 months or so ago, to now over 350 million shares outstanding and rising by the day. My guess- is the this next 10-K will show well N. of 400 MILLION shares as being the new outstanding share count.
"The company to me appears to be broke." Well, I would argue they not only "appear" to be broke, they pretty much by all definitions are broke and have been for some time. Their cash entry for over a yr of 10-Q/10-K's has been anywhere from zero on one 10-Q to $6K cash on the last to maybe about $170K or so I think on one I read in between that. Their only means of hanging on has been massive share selling/dumping in exchange for brutal financing terms. Meaning the financier gets 1) A STEEP discount to market on the shares they're given in exchange for some cash- like 40% to 60% or so from last couple 10-Qs and 2) Usually gets a "convertible note" attached which grants them rights to more shares and gives them incentive to short the stock, which they have obviously done several times, driving the price as low as a recent .063.
So yes, they are "broke" essentially and their auditor has put a "going concern" warning in each of the last 3 or more 10-Q's citing that BHRT has a high likelyhood at some point of being unable to service their debt interest payments, pay their day to day obligations, etc. Remember, Northstar was formed because BHRT had gone into default on a key loan (I think the Bank America loan) and then Northstar, this "odd-ball" (my opinion) sort of shell corp is formed and "assumes" the loan- which means to me they had to put up collateral, my guess being homes, businesses they own, land, property, etc. A bank doesn't just let someone "assume" a bad loan- you gotta put up something to show for guaranteeing it, at least in any business or real estate I've ever done. Further, Northstar has now been granted a "lien" on nearly everything BHRT owns, will ever own, ever create, etc. It's right there in the 10-K of last yr. So it creates a huge question to me- what do the common shareholders of this company really even "own" anyway? Further, they re-jiggled the prefer share count/grant to Northstar so that they appear to have a lock on always controlling the shareholder vote, forever. Meaning, even if the shares outstanding reached the new limit of 950 million or whatever that number is, ole Northstars preferred shares get like 20 votes to every one common share- and they'd always be running the show. Another thing I find "troubling" to say the least. I've never, in yrs of following public traded companies seen something like this Northstar insider "shell" thing set up. I can't even figure out the legality or means allowed to do it- as it appears to leave the common shareholders with little or nothing. From the read of that 10-K, it appears that BHRT could go belly-up tomorrow, and Northstar could walk away holding all rights to any patent, any trade knowledge, rights to all clinical trial data, etc and just start the whole thing right back up again- with the common shareholders getting wiped clean.
That's my "read" from the documents, you do your own due dilligence and good luck to ya. Buy, sell or hold.
"buys"' are OPTIONS ACQUIRED. No one has "bought" anything with their money. Learn to read the SEC documents. Options when exercised are "booked" as a "purchase" - especially for tax reasons. Big difference between getting options handed to you and implying the guy/gal took their own money and put it on the line and bought shares.
You are implying they "bought" those shares. WRONG. Those are options GIVEN TO THEM. Please learn the difference. Else, you're purposely trying to mislead people in my opinion. If you can prove any insider has used their own money to "buy" shares- provide the proof. People just posted links to the SEC forms yesterday- and ever last one of them was an 1) OPTION GRANT (free shares) or 2) Shares for a "debt-equity-swap", again, being GIVEN COMMON SHARES in exchange for apparently a past loan, or salary or other money owed them. Thanks. Lets stick to facts please.
Pepe, not sure if anyone has sold or not. That's hard to tell and may not show up until next SEC filing. That site you're pointing to just goes off of those SEC form 4 and other updates- they have no other way of knowing.
You do realize- a lot of people mistakenly read that link you posted and "think" the insiders have "bought" shares- as in using their own money. That's not the case. Those are shares "acquired" via option grants- i.e. free shares given to them. They are "booked" as if they were "acquired" or bought. Look at the share counts- they match the recent SEC filings of updates to option grants and shares given in the "debt-equity-swap".
Just a lot of people try and toss out the term that "insider's are buying" when they are not. Buying shares via putting up your own money versus getting options given to you are two, totally different things. You will see companies make PR announcements sometimes where it will say, "CEO XYZ just bought $1 million worth of shares in the company"- usually as a confidence builder. It's done a lot of time when a new CEO takes over and wants to show people he/she believes it's undervalued and that their turn-around plan is going to work and so forth. Share buy-backs by the companies themselves is also another technique. They try and bolster share price by using company cash to buy back their own shares on the open market and reduce the outstanding float/share count. As far as I know BHRT only dilutes and dilutes a LOT. I'm not aware from any documents of any BHRT insider putting up any of their own money to buy any shares. To the contrary - the insiders, especially Northstar are being PAID a lot of interest on past loans, via being given shares and all insiders are recently receiving a lot of options- that vested immediately, versus the traditional 3 to 4 yr vesting schedule. My opinion not much of a vote of confidence- seems like all the insiders want is to get paid, get paid first, get paid interest and more and what happens to the common shareholders doesn't rely matter- just being diluted away. Sharecount will be on page 1 of the next 10-K, it's the first thing I will read and compare to the count as of last 10-Q. Then the cash line on the balance sheet.
Andy, I ain't so sure about that? The volume was the key today, not just the size of the drop. It did over 11 Million shares. 11 million X .035 (figure avg price for the day) is about $385K bucks traded. That's some pretty sizable coin hangin out there. Not sure that's just Joe and Bob penny traders? I think we got some big insiders or institutional (raising cash for BHRT like in past 10-Q's) trades happening. This thing for months and months was lucky to trade about $15K to $30K at best on an average day, many days even less than that- days were it sat, flat lined half the day with zero buy or sells happening. Like maybe 10 guys tops, doing 10 trades of say $1,500 bucks each- what a penny player may dabble in, a lot of the time. But man, to hit $385K bucks or so for 2 days now on the sharp downside- I don't think that's all the retail, average seller. Just my gut feeling and 2 cents. If someone big unloads again tomorrow this can drop again like a rock in free fall. I didn't see any end in site today. Pretty much closed at the low on mega volume. I personally wouldn't be long here overnight and sleeping real good if I had much coin on the line. Plus, you got bag holders, new buyers who got in at .05 or .07 or whatever and many will have been holding out of "hope"- there's usually a "throw in the towel" day where they decide to cut their loss and just dump. They may all put in their sell orders tomorrow too. We'll see. Should be interesting. I'll be watching vol as much as price movement. If level II shows big sell orders sitting out there- then I think it's the big boys unloading into what strength is left. My 2 cents. Good luck. Buy, sell or hold. Gotta make that call yourself.
dog, sounds like a good play. Don't ever get too attached to hit the sell button- if you can book that much profit ,that to me is a win. Any trade at a profit is a good trade :) I think the volume today was amazing- still putting on huge volume while dropping like a boat anchor. I'm troubled by this violent a swing and the size of the volume- just seems to have more to it than a little ole penny stock making a swing up (just smells to me of an organized pump- who and how? Who the heck knows?). If it were to get down to a penny range again (which I think is very possible) and especially if it took one of those plunge days- where it hit what, like .063, I'd grab some for a potential flip. But this one is making me more and more nervous the more I read and that their cash is so low and they got loans up the ying-yang and all. You know how it works when a company like this goes belly up - there is zero warning. They just announce one day they're in default and it's lights out and the shares go to like .00001 in a blink. Been there, done that one and it hurts. I had one back in the day- man, they had PR going, talking bout all this and that, new contracts, woke up in the AM and it's over. Lights out. Got the shareholder class action letter from some law firm months later and tossed it - there's never anything left to get back. I learned big time on that one. Given the volume today- if you're gonna get out and book a profit, I agree do it sooner than later as right now there's at least some liquidity. Remember, it was only a week ago and the spreads were terrible. You could have bought and literally 2 minutes later couldn't get out a less than a 10% loss as the broker-dealers on these pennies can be brutal on the spread. When this exploded this 3 days on the up and now the down- at least it looks like the spreads got a little more realistic. Shoot- on a listed stock, it's a 1/16 penny spread. You can buy, change your mind 30 seconds later and get out on a fraction of a penny. I've watched BHRT and people put up any size larger than a few shares on the sell and they just sit, watch the bid price lower more- they sit, little more, still sitting, pretty soon the spread is like 10%. Ouch. 40% profit is nothing to sneeze at- I'd take it and be happy. It's in free fall in my opinion. I think it sees 2 cents real quick. Might be back at 1.5 cents or so in under a week. If it repeats today- it will hit about 2 cents by end of tomorrow. Again, the volume today told the real tale. Something's up- I don't think that's just all little guys selling. I think someone is unloading a boat load- meaning an insider, or an institutional (Asher or Gray or similar) doing "financing" for them via cash for shares for sale. Someone today said they saw a million shares up for sale several times on level II. That's about $30K or $40K or so at a pop- I don't think that's Joe penny flipper. Someone is unloading into this strength- my gut feeling. Good luck. I'm waiting- will see what 10-K says, what their cash survival looks like and how low we get, then consider another trade or not. Holding pattern here.
Well Andy, the way I read that document it jives with previous disclosure, including last 10-Q that they were going to "swap out" debt owed to them for share. But HOLY COW, they just gave the CEO 6 MILLION shares on 9/30/2013 at .014 each. And now they just ran it up to .08 a few months later? Lets say he could sell a big chunk of those into this strength and make .04 or .05 say a share, that'd be about $240K bucks. Not bad. What troubles me- is I can never discern from their documents (my opinion the financials/10-Q are a convoluted mess of loans on loans, loans "split" endlessly, etc) to know what was his original amount owed and how much interest has he been paid, if any and how much did they owe him back? In other words- exactly how much "debt" did he get swapped to get over 6 MILLION shares?
The other part of the document, Table II, bottom entry jives also with last 10-Q in that they granted themselves a boat load of options- but unlike typical options which vest over about 3 to 4 yrs before you can sell them- they gave um these as "instantly" vested. So he got 10 MILLION (HOLY SMOKES) share given to him then 400K shares more on 8/1 and 9/1/2013 and they were "vested" upon grant- which means he could sell away. Look at the volume this past week- wonder if he's unloading some of those 10 MILLION shares? Wow. Those were at .02. So he'd be "in the money" big time on this "strange" run-up in price, to say the least.
That's how I "read" it and what it says to me. By doing these "debt for common shares" so called "swaps" - hate to say it, but to me it says they're setting up to "get out". That's just my opinion. But if you had faith in the company- why not hold debt and get paid back interest and all your original principal? By going to common shares- it tells me they may want to SELL NOW, get what money they can and be ready to "bail out" as needed. That's just my opinion. But by going to common shares (which the Northstar guys did also)- and vesting them instantly, it says you can/will be able to see at will. Dump for cash anytime you want. Again, that's my take on it. I don't like the timing of a big spike/run up like this given they all just got gobs of shares inside of 5 or so months ago? They won't sell direct- like through E-trade or something. They have firms that will handle that "order flow" for um- and I've seen you guys and the other boards mentioning several broker-dealer/MM symbols showing up on the "ask" a lot lately with "large size" orders to sell being put on the tape- those MM/broker names when you look um up are all well known street names for handling "institutional clients", as in "insiders" who need to unload say 5 million or more shares. Oh well, we'll see I guess.
Sorry- my bad, I just re-read the guy's link/post again and the promotions were done in the past. So retraction on it necessarily happening this past week or so. It was not necessarily on this run-up. My bad- didn't notice the date. I guess the guy's point was they have used paid promotion many times in the past on similar run-ups. Guess the link in my first post was bad. I'll try it again. Again, this is from another, pretty reputable stem site I read- and the guy went in print, "on the record" that he has received many of these emails promoting BHRT over the past 3 yrs (that's the time period he states) and puts the disclosure info that the email contained. He stated he sees it as a "pattern" of repeated promotion, run up huge, then bust cycle. Which, if you look at about a 3 yr chart, is pretty much true. .01 to .05 and back several times over. He put this link:
https://www.stockpromoters.com/View-Stock-Promotions-By-Symbol.aspx?symbol=bhrt&ctl00%24ContentPlaceHolderyy%24Footer1%24Image2.x=0&ctl00%24ContentPlaceHolderyy%24Footer1%24Image2.y=0
And then he put this info about the email(s) he claims to have received, at least in the past. I guess his "beef" was that on previous huge pop/sell offs of BHRT he personally saw paid-promotion involved:
Compensation: ADVFN has been paid $5,000 (Five Thousand Dollars) by CCWW LLC for THE distribution of this email AND other advertisements
Promoter: Penny Trader Publisher
Compensation: PennyTrader and affiliates have received five thousand dollars from a third party (G6 Stocks, LLC) for this one-day SRPX email promotion.
Wow, the management of this company sure has a lot of "outside" shall we say "interests" it seems. How much do you guys really know about them? The more I research, the more it troubles me. Just got this off another well respected stem cell investor site.
http://www.bizjournals.com/southflorida/stories/2010/09/20/daily51.html?page=all
That seems like a little bit of a "tangled" web for the CEO? It's confusing and a bit disconcerting to say the least IMO?
Also, this- which ties in with what I posted in the AM about how Comella can be doing so many things all at once- as in being the "chief science" officer over-seeing multiple "trials" including an FDA level, I guess phase II/III which is daunting in itself but is also the CEO of "Stemlogix"- but she sure is into a lot of stuff? How can 4 or 5 people with very little cash ($6K total) as of last 10-Q really do all this? How?
This is what the other investor/poster found from his research- it's his summary:
Fun facts and opinions with 30 minutes of research:
At September 30, 2013, we had cash and cash equivalents totaling $6,684
Working capital deficit as of such date was approximately $13.4 million
One of the two management is clearly not focusing 100% at BHRT. Kristin Comella is currently the CEO of Stemlogix, CSO of Ageless Regenerative Institute, and CSO of Bioheart
Conducting trials in countries where the market isn't favorable (Uganda, Azerbaijan, etc.)
Constant pump and dump trend the past three years around this period. Constantly paying and wasting money on stock promoters https://www.stockpromoters.com/View-...1%24Image2.y=0
Were you all aware they just paid $5K for a email promotion right before this big up move? Wow? It involved an email "blast" campaign and more? People on the other site received these emails and the financial disclosure, I guess is right at the bottom of every email- saying who and how much was paid for the "penny promotion". And then- shazam, the prize like doubles or triples over night and now massive, high volume selling into the strength? Very troubling to me, IMHO.
That's more than I ever knew- and I've been digging pretty deep to try and figure out this stock price violent movements and more. The paid promotions are shall we say "interesting" to say the least. That is traditionally known as a pump-n-dump if I'm not mistaken. Wow.
But dubb, why would they even be back at doing a Phase I called "Angel" when they supposedly have a phase II/III underway that have gone really nowhere? Marvel died on the vine and has been unfunded/dead since what, 2009? Mirror is just sitting idle or going painstakingly slow it seems- one patient "enrolled" as of last update. Even "Angel" was originally stated/promised as going to be taking place on U.S. soil in I think U. Miami (I can find it in PR and 10-Q) but then it ends up in Mexico with little to no explanation and was named "lipi-something" orginaly and then got suddenly re-named to "Adipo-whatever" all of a sudden? You don't find any of that the least bit maybe "troubling" or at least want to ask some questions? To me- they were pushing hard that Myocell and FDA approval and all was their end game. Suddenly it just fades and we get endless PR now about all kinds of medical "tourism" stuff (my wording- best way I can think to describe it) and then all these, IMHO odd-ball "deals" and "partnerships" in who the heck knows what 3rd world country or with some vague "group" that appears to be nothing more than a few guys with a website (sorta like Stemlogix to me) - it's that Global Stem Cell whatever, saying they own 6 sub companies and "Arrange" what appears to be off-shore "treatment" trips and other stuff, with hokey (my opinion) videos on their web site and U-tube. I mean come on- I watched a few of their videos and they were comical to say the least. I mean what happened - it went from what appeared to be a serious, phase III potentially, FDA style company to now spread all over creation and a shmattering of "stuff" that how can they possibly manage with 4 or 5 people or whatever they have? Just the one FDA trial it would seem to me would take every waking moment of every single day just to "try" and manage? What are we missing here?
Appreciate the links, will read them when I get time later today. But dubb, unless I'm mistaken, current case law of the FDA/courts has ruled pretty clearly that Stem Cells and are to be treated/regulated as "drugs"? That's my understanding to date following several key court rulings. Here is a few references- I mean the FDA went to the mat and court on this issue:
http://www.the-scientist.com/?articles.view/articleNo/39108/title/Judges-Side-with-FDA-on-Stem-Cells/
http://www.fda.gov/forconsumers/consumerupdates/ucm286155.htm
Notice too please from the FDA's own site- as of today, there is ONE, ONE FDA "approved" stem cell "treatment" and it isn't anything remotely close to what BHRT is working on. ONE approval to date. So all these so called "treatments" and "procedures" being battered around in PR and blogs and what not are either 1) Must be, being done in off-shore locations or 2) Can only be, being done in "clinical" trial setting with strict FDA protocols filed and oversite.
That's my understanding to date.
Heaven, it sure ain't a pretty looking chart to say the least. But I'm not surprised. I mean, "normal", healthy stocks just don't go up like 50% or more a day for a few days based largely on nothing (no big partner like google saying they're taking a 30% stake in company XYZ) or no real news like, "Our new widget-magic product just got the prelim one yr sales numbers and we can't make product or keep it on the shelf fast enough" or of course in the field of bio/pharma the GOLDEN GOOSE would be an FDA APPROVAL, but this company is miles and yrs away from even that possibility IMHO. A final FDA approval is one of the most daunting and coveted things to ever be achieved- and about 1 to 2% of new drugs/invasive major products ever achieves it. That's an easily verifiable stat doing some simple google searching. It's EXPENSIVE as heck, often running min of several hundred $million dollars and sometimes as high as one $Billion dollars to get a product through the FDA final trials, submission, etc. A typical FDA final submit can run 100 THOUSAND pages- I was stunned when I first read that. It's staggering to even think about. I mean, is the tax code even that many pages? You can imagine the staff, expertise it takes to write/compile a tomb like that. That's why big pharma and others have entire staffs (40 to 100 full time) on a single product line would not be unusual in the slightest- Ph.D's, regulatory specialists, engineers from various areas of expertise, bio-med Masters or Ph.D holders, usually several M.D. or university level researchers, etc. It's daunting to say the least and expensive and timely as all get out. It's why major pharma and others worry so much about having a "deep" and full "pipeline" of drug or med candidate products. They know that only say 5 out of 100 will ever see the light of day at the other end of the gauntlet. Of those, they "hope" they hit it big with one blockbuster. It takes one Lipitor for every 100 "duds" they have. Or it takes one new "stent" (recent is a drug coated stent) to be on patent and keep a company alive for the next 10 yrs and fund all the next R&D off their big seller- Abbott, Guidant, etc. Bio-med is one of the toughest fields of tech to play in- it's brutal and for the big-boy-pants players for sure. Little guys can get crushed like a bug from big players with deep pockets- it's the sad, but true reality of the field. MONEY, cold hard cash, and lots of it is key item number one. At this point, my opinion is that's BHRT's biggest problem. You can have the greatest potential idea/widget in the world- but if you can't attract capital, and in bio-med, boat loads of it, you're usually done. BHRT's capital seems to be drying up. Their cash position on the last few SEC reports has been dismal. Not sure how they make it down the gauntlet at this point?
Well, if you sold at the .06 to .08 level cj, then ya done good. Sadly, I'm sure you realize that as you were selling, some new buyer was stepping in and buying at those levels. Some of those buyers are probably very amateur and get paralyzed with fear to hit the sell button and take the loss and are now staring at a glaring, 50% or more loss in a blink of an eye. They're holding and "hoping" it's suddenly gonna bounce up and get them out. Sadly, that's almost never the case. Last time this stock did this, some people sat for a yr to two yr's "hoping" to ever break even again. Too bad it's not monopoly money people are using- the losses are real and they hurt bad when you take um. Good job on "reading the tea" leaves if you got out at those levels. That was good trading for sure. To you trade on any technicals or charts or similar or was it just a "gut" feeling to sell and take profit? Thanks.
Joeg, at this rate of daily decline it's only a few days away to be back about the 2 cent range, where it spent a lot of time in the past yr. Doesn't anyone else find it "troubling" that the stock doubles or basically triples, then crashes back almost as fast? I don't find that a sign of a "healthy" stock or strong company IMO. It speaks of nothing but a mo-mo play or I hate to use the word, a "pump" of some kind. I believe the selling you're seeing now is all the poor people who got caught buying at .06 or .07 or .08 now getting hit in the face with reality and they throw in the towel and decide to cut their losses and run. It's a familiar pattern in what is traditionally known as a pump-n-dump cycle, some other people on I-HUB have actually done pretty extensive, entire pages on the topic, including with video and charts and showing the up pattern then the selling just as we are seeing now. I just read the one guy's I-HUB page called, "The anatomy of a pump n dump"- and he puts out a pretty credible explanation and backs it with trading experience and videos of charts, volume, etc. Notice- the volume is falling off sharply now each day.
Also, you mention the 10-K "might" mention "significant" revenues possibly coming in? Curious- where do you think BHRT might be generating "significant" revenue from at this point? How much are you thinking this revenue might be and from where? I thought the Mirror trial is their big push, although they seem silent about it- only a yr ago it seemed to be their 100% focus, to become an FDA approved product company? But now they barely speak about it or the trial and little of what money they do have seems to go to the R&D line when I read the 10-Q? So where would they have suddenly started getting "revenue" from? They have about $6 Thousand in cash left listed in the last 10-Q? Any thoughts are appreciated. Thanks.
GS, again- your statement about "patents not mattering" runs counter to everything we know about industry and companies- and I'd say ESPECIALLY any med, bio-med, pharma type company. I'd challenge you to point out any major company in that field that does not aggressively patent everything they do as product development and then rigorously defend them. I have no idea what "biologics 12 yr" supposed exclusive "law" you're talking about- post links to it and exact language of supposed "law" please. Also, everything you state goes counter to what BHRT put in it's own 10-K. THEY, THEY make/made the statement that Myocell having no patent/being OFF patent could/might be detrimental:
"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"
See that specific word they used, "vulnerable"- that means "weak" or "open to attack", etc. Look it up in a dictionary. So I guess old BHRT doesn't know about this special "law" you claim to know about? Cause why else would they put that legal disclosure in their 10-K, dated March 31, 2013? Why? And use that specific language that BECAUSE OF NO PATENT, competition may be a serious factor in the future? Explain please?
Hybrid asked about IPO? I found this stock researcher's "take" very interesting- especially the part at the end where he shows all the interconnect "family" business relations. Found that very interesting. Read it for what it's worth- I think the guy is a pretty credible stock/company commentator - and this is back from 2008, the period that Hybrid was asking about.
http://10qdetective.blogspot.com/2008/06/bioheart-too-early-to-inject-hope-into.html
This is from HIS words/write-up at the end of the piece: "Corporate Governance
Florida’s unemployment rate for April 2008 was 4.9 percent, standing at its highest level since February 2004. Irrespective of the economic slowdown, BioHeart takes care of family.
Mr. Spencer, III, a member of the Board, is the father of Mr. Spencer, IV, Vice President of Clinical Affairs and Physician Relations.
Mr. Leonhardt, Executive Chairman and Chief Technology Officer, is the cousin of Scott Bromley, Vice President of Public Relations, and the brother-in-law of Ms. Sulawske-Guck, Vice President of Administration and Human Resources.
The Company, from time to time, enters into consulting agreements and arrangements with certain members of its Board of Directors, too:
BioHeart paid to Ascent Medical Technology Fund, an affiliate of 'independent' Director, Peggy Farley, Chairperson of the Governance & Nominating committee, a fee of $150,000 for the private placement of common stock in May 2007.
Mr. Leonhardt has guaranteed Dr. Murphy, a director, the repayment of his initial $200,000 investment in the Company, too!"
Editor David J. Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy."
Found that pretty interesting reading. Just my opinion- you can take it or leave it. But to me, very interesting. Maybe it tells a little bit about why the IPO went like it did? I don't know? Due diligence on your own. I just like to research, read everything I can find on a company that interests me.
Comella and Stemlogix- do any of you ever "investigate" even in a cursory manner things like "PR" statements and "claims" made via the company or posters? I know I like to. I do it for every company I'm interested in. If company XYZ makes a public announcement that they've got the best "world saving widget" on the planet and are therefor the "world leader" (a term I see used here and via BHRT often)- I mean I'm gonna do some checking. So they've mentioned Stemlogix in the past. They also list about 4 employees for BHRT as of last 10-Q, yet say they are doing multiple trials and lots of "deals" and man, all kinds of stuff. It sorta interests me as to how so few people can accomplish so much work? I mean do they ever sleep or are they super human? So then "Stemlogix" comes up - as somehow "affiliated" I guess with BHRT. I do a simple web search and up comes their web site in position one on google. Great- I start reading. It boasts of them being "leaders" in the field. It states the following, "Corporate Mission
Our mission is to define, standardize and advance the field of veterinary regenerative medicine by offering the highest quality technology, training and research.
Premier In-Clinic Stem Cell Therapy Solutions for Veterinary Medicine
After many years of research, Stemlogix has now made it possible to provide affordable same-day stem cell therapy to dogs, cats & horses suffering from a variety of degenerative diseases and injuries. With the Stemlogix in-clinic stem cell isolation process, veterinarians can extract fat tissue, isolate millions of regenerative stem cells and deliver them back to the patient all in about 90 minutes…in just one office visit!"
You say, WOW. OK. Now it also says, "Kristin Comella
Ms. Comella is currently serving as co-founder and CEO of Stemlogix, LLC and has extensive experience in stem cell field. Ms. Comella has over 12 years’ experience in corporate entities with expertise in regenerative medicine, training and education, research, product development, and senior management. Ms. Comella has been a member of the Bioheart Inc. senior management team since 2004 and is currently serving as the Chief Scientific Officer. Bioheart is a publically traded company focusing on the discovery, development and commercialization of autologous cell therapies for the treatment of chronic and acute heart damage and peripheral vascular disease. Ms. Comella was appointed as Bioheart’s Vice President of R&D and Corporate Development in December 2008. Since joining Bioheart in September 2004, she has played a major role in managing the product development, manufacturing and quality systems. In addition, Ms. Comella is currently and actively serving on multiple boards in the stem cell arena. She is co-founder and Chief Scientific Officer of the Ageless Regenerative Institute. The Ageless and Stemlogix Programs involve education, training, technology and support in delivering regenerative medicine to clinicians and veterinarians. Ms. Comella has over ten years of cell culturing experience including building and managing the stem cell laboratory at Tulane University's Center for Gene Therapy. She also developed stem cell therapies for osteoarthritis at Osiris Therapeutics. Ms. Comella holds an M.S. in Chemical Engineering from The Ohio State University and a B.S. in Chemical Engineering from the University of South Florida."
So you're like WOW, so - in addition to being the "Chief science" officer listed at BHRT, she's also doing all this at Stemlogix, is the CEO? WOW, that's like amazing for one person- again, does she sleep? And then you search the Stemlogix site some more- you know, it's being "world class" and doing "research" and all and you figure- wow, where is this great "facility"? Well, on the web site are listed two addresses that when you plug um into google- they are RESIDENTIAL HOMES, and I believe one is even for sale or just sold on Zillow or whatever real estate sites pop up? As in what I "guess" is Ms Commellas or some Stemlogix owner's home for sale is the "world leader headquarters"? Getting the picture how some things turn out to be a bit "troubling" to say the least? How a "web site" and a "PR" can sound like a lot, make you seem like a "big company" and all- but are you really? I find it "troubling" in my opinion. 1640 Sweetgum Terrace Weston, FL 33327 is listed on the Stemlogix "contact" page- but it sure looks like a residential house to me? Also listed is 1310 Leeward Way, Weston, FL 33327, again it comes up as a house, that one for sale/sold I think on Zillow?? So how do you, per that mission statement above "conduct research" and have "labs" for animals and all kinds of amazing "business operations", especially involving "extensive animal research" in a residential house? Just asking? If anyone knows- help out here? This is the age of the internet- a "web site" can sure show some fancy pictures of animals and talk about "world class research" or whatever- but does all that really take place in someone's home with a few people as the entire "company"? Really? I personally would find that pretty amazing- but maybe that's just me? Due diligence - do it for yourself. That's what my simple google searches showed when my curiosity was peaked. One person doing "trials" all over, doing "research" and also running this "animal stem cell biz" as CEO and a whole bunch of other stuff listed in past PR's, wow, I'm am truly impressed if that can all be handled by one person and some of it out of a house? Must be doing better than a lot of smart people and big companies I know and am familiar with? Oh well. Good luck.