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"Looking at that BHRT could get to a nickel "?? More like ZERO is the higher probability IMO?
It's about 2.5 cents away from zero, and zero is about what their cash balance is. The market cap doesn't even cover the cash deficit and debt anymore. The market, right now, today- is "valuing" the company at about ZERO, meaning if the debt and cash deficit is accounted for against the market cap- the remainder of whatever makes up "the company" (a leased building, some lab equipment, some intellectual property "maybe" as most has expired off patent anyway)- whatever "it" is, is being assigned a "value" of about zero as of today. If liquidated, they can't even cover the debts they owe.
Yeah. A nickel- sure.
" BioHeart really has a "rockstar" board of directors. "??
You mean a guy who ran a "masonry" company in po-dunk? And a CEO who has zero actual "bio-tech" experience, let alone ever getting a product FDA approved or even working in an FDA regulated environment/company prior?
Same for CSO- never has actually gotten or been involved in a successful drug/FDA approval process or product that I'm aware of?
Two others- same, no FDA backgrounds or even drug/pharma backgrounds?
Only one is Murphy and he's over 90 yrs old, and hasn't been "in the game" in years IMO, as in interacting with today's FDA or approval process, etc.
What "rock star" board? Where? You go read some typical "BOD" of typical high tech bio-tech and/or drug pharma companies- they will be stacked with M.D.'s and Ph.Ds and FDA regulatory experts and who's who in venture capital (Goldman or a similar Wall St firm, or Silicon Valley for example) etc- who have pedigrees of drug and pharma and bio-tech SUCCESSES and company names that read like the who's who of the field. Backgrounds at like Pfizer, Merck, Genetech, Imclone, Eli Lilly, Bristol Myers, etc, etc and academia medical departments of major research labs and be published in peer reviewed articles, etc
Not even and M.D. on staff/BOD or Sr. Mgt of a high tech, "heart" related company?
Gotta be kidding, "rock star"- yeah, maybe in singing bad covers of "rock" karaoke?
"This company can only get better from here"??
The cold hard facts of their own SEC filings say this company is teetering on BK, on any given day of the week, month you want to pick.
$46K THOUSAND in total cash left on the balance sheet (what many people keep just in their personal local checking/savings accounts) at close of last 10-K and only beefed up by a $100K or so added at the last minute, on a string of ASHER deals amended to end of 10-K. Versus a pile of debt and loans exceeding $12 million. One key loan that needed/needs to have been "renewed" or "re-guaranteed" by now according to the 10-K, and has not been mentioned yet as of end of Q-1. They doubled the outstanding shares last yr, 2013 from less than 200 million to now over 420 million- yet were cash broke, nearly insolvent on Dec 31st, 2013 close of the 10-K.
Any cash balance that 10-K showed up through mid Feb 2014 will/would already be GONE IMO, spent at their burn rate, unless more ASHER or share sales or some form of "funding" has occurred by now (Mid April, 2 months later, $211K would be gone)- and those are the simple facts, versus hype and nonsense talk IMO.
Every major trial they've had has gone nowhere- there flagship product, ole Myocell not even under patent protection anymore and stalled/parked since about 2010. MIRROR has gone silent, a barely mention in their latest SEC filings. And who cares about a 5 person phase I in Mexico now? That would be 3 minimum, probably more like 5 yrs away from ever even attempting to reach FDA approval IMO. It hasn't even advanced to beginning a phase II yet. They'd have a billion shares outstanding at this pace/rate, before that ANGEL whatever, ever had the chance of seeing the light of day before an FDA approval panel, IMO. Reality versus hype.
Webinare and seminars and "talks" and demonstrations and "awards" and blah, blah, blah- same old broken record that MEANS NOTHING IMO. Been heard 100's times over, going back yrs. And what has it "accomplished"? A sub THREE CENT, massively diluted stock and NO CASH, 5 person "company" - that's what. I'd be surprised if they even have the cash on hand - to fly and book someone in an decent hotel at some "conference"? Must have to come out of the pittance of their "R&D" fund- the amount they spend on "R&D" is about equal to what they pay the two, key insiders in base salary- the ole CEO and CSO. TWO people are consuming as much as they spent on the ole "trials" budget, "R&D" for what terms it self and "R&D and research and development company" in their own PR and all the nonsense being blasted around here. It's laughable IMO.
Seminars, Schmeminars- WHO CARES. And no, ole "Sheldon" hasn't brought in any bank or coin- not a shred of proof of that. They are cash poor- doing AHSER deals right up through mid/late Feb. 2014 in the most recent 10-K. All else is pure speculation, hype and just empty opinions. Not a shred of fact to back it up IMO.
And yes, as previously pointed out this AM, it's more than likely going back to "pennyland" or true one cent, 2 cent "penny-ville". It worth is essentially ZERO (debt versus cash on hand, versus huge negative cash flows, versus share dumping as only means to stave off BK or insolvency at any given time- and their own 10-K states that and strongly warns about it), by all business metrics that are commonly accepted accounting practices. They can't even, barely service their own debt on any given day- and exist it appears IMO, to primarily pay themselves and key insiders. What exact day to day "business" is even taking place- to advance any key product or technology to even remotely ever being salable, let alone ever profitable, is hard to even discern at this point IMHO.
"I hate Asher and Asher type vulture lenders"- could not have stated any better. It's perfect to the tee IMO ! Spot on correct in every word it said.
As if this 1 to 3 cent, 5 person "company" , who is near broke of cash, debt laden, works out of a 5000 sq-ft leased "headquarter" needs any help from a $40 BILLION market cap Baxter, or Cardio-blah-blah or whoever, to get to the failed, near BK point they are today? It's beyond laughable.
From the day of their total bust IPO (one of the worst in IPO U.S. public market recent history), this stock has traded STRAIGHT DOWN for the most part. It's down like 98-99% from the IPO date. So, there was/is/has been a "vast conspiracy" since 2009 or so, via a collusion of huge, profitable, successful companies and/or combined with "particular" stock chat board people AND youtube videos and "fake" web sites AND "tweets" now, and all this "stuff" (oh, ASHER too) for a 5 yr period- just to bring down ole BHRT? Yep? Got it? Makes perfect sense to me?
And, as to the other statement just prior about, "Don't think it's a real company" cause they have an "office" and you can "see it on google maps" and blah, blah, blah?
Here's what's up from their 10-K with the "office":
"Our headquarters are located in Sunrise, Florida and consists of 4,860 square feet of space, which we lease at a current rent of approximately $65,124 per year. The lease expired in January 2013. In January 2013, the Company amended its facility lease to extend the term of the lease until April 30, 2013. In April 2013, the Company amended its facility lease to extend the term of the lease until August 15, 2013. In September 2013, the Company amended its facility lease to extend the term until August 2016."
AND, ""Lease Guarantee
The Company’s former Chairman of the Board, Chief Executive Officer and Chief Technology Officer has personally guaranteed the Company’s obligations under its lease for its facilities in Sunrise, Florida and has provided a personal guarantee for the Company credit card, which is for his own use only." PAGE 82, most recent 10-K filing.
So, BAXTER has an organized "campaign" to go after a company who "leases" (and the lease has expired several times recently, and must be guaranteed by some dude's personal guarantee- as apparently the landlord doesn't trust the company can pay $5K a month in rent for sure?) - so BAXTER and ASHER and others have this vast campaign against THAT?
I have homes, within rock throwing distance of me bigger than 5000 sq-ft, my own is not that much less than that. AND many people in my nearby area pay $5K a month for a mortgage, property taxes and association, etc. for just a "modest", upper middle class home.
I have real estate people, dentists, local doctors, small dining places etc in facilities FAR bigger than 5000 sq-ft; micro-micro small biz people, and NOT "public traded" companies- you gotta be kidding me? I have local, little coffee places and donut shops that operate with a lease/rent of about $5K a month, and they don't need some dude to "guarantee it" as they have long histories of being PROFITABLE and PAYING THEIR RENT/LEASE on time for years and years, and don't need to dump/dilute shares all the time to "make the rent" as they have cash flow AND profits. Amazing, eh?
By contrast, we also have 100's if not 1000's of FOR LEASE signs everywhere in this economy in my area, of businesses (past tense) that are now GONE, who broke their lease, went BK or shut down or whatever- so I don't get the connection in the slightest as to "they have an office on google maps, blah, blah" and how that relates to their cash position, or their ability to continue as a "going concern" (THEIR OWN WORDS and that of THEIR AUDITOR), or how they have diluted their shares massively, and given themselves, two people huge raises while at the same time being near cash broke per their own 10-K, etc. What's the connection?
Anyone peddling a grand "conspiracy" theory(s) about some stock chat boards or whatever being "needed" to help this company fail- it's beyond laughable IMO. They need NO HELP and have 5 plus yrs, multiple CEO's, a wash list of departed, former Board members, almost no employees left, etc to PROVE IT. Got a beef with why they are where they are today- CALL THEM, IT's THEM and THEIR FAULT and nobody else's IMO. THEY ink those deals WILLINGLY with ASHER, they SELL and DILUTE and ISSUE TRUCK LOADS of warrants and shares and options and all WILLINGLY and then SIGN OFF WILLINGLY on their own 10-K/10-Q's and all, that explain it all CLEAR AS DAY in PLAIN ENGLISH. THEY defaulted on THEIR BofA loan- no one else did it for them. THEIR trials have been sitting, going nowhere for yrs now- no "stock board" or "chat room" did that or caused it IMO or that I can see or believe anyone can prove- not a chance in heck. THEY are the managers that have overseen ALL OF THIS, THEM, no one else has been needed to help them. It's laughable.
Yeah, there's a "paid team" to go after a 3 penny stock, who's teetering on BK/insolvency for over a yr now and has 4 or 5 people left, etc. Yep, makes perfect sense to me? And for this "negative publicity" claim, nonsense? HUH? What? It's been a 100, if not 500 to 1, as stated, CHEER LEADING SESSION on every board that pumps this thing- and has been for yrs. I have PR going back to 2009/2010 , to past CEO's and every last one of those PR and "blogs" and you pick it, is practically like reading what's been put out in the last 6 months to 1 yr.
ENDLESS "PR" of "deals" and "term sheets" and the "middle east" (yes, clear back to the last CEO, already had PR on middle east) and South and Central America (yes, former CEO said lots about that too) and "centers of excellence" (yep, clear back in 2010) and "imminent" big things "coming soon" and "partners" that were "close" and multi $million "financing" that was "about" to be "signed" but somehow never did, and "trials" and "BREAKTHROUGHS" (Sooo many PR with that word in it) and adding key "team members" and new "panels of experts" who were "going to" bring in tremendous "sales" or "big financing" but it just never seemed to happen and on and on and on. I've READ UM ALL. Every last one of um- clear back to 2009/2010, ole Google is an amazing tool, to say the least.
Yep. They need NO HELP to get to where they are today. And for what's happened in this past 6 weeks- if anyone thinks this is because of some "chat board" so called "basher/negative" posts- it's comical. Look at the EXPLOSION of 100% cheer leading chatter for two days now, as the stock price went into, IMO, 100% manipulated FREE FALL. It needed ZERO help. Pumped from 1 or 2 cents, to .08, then collapsed to .03, then back to .06 or so, then now a massive 2 day dump- and yep, it was those old chat boards who site those PESKY FACTS from the BHRT OWN 10-K. Yep. Makes sense to me? Gotta be kidding it's so laughable.
ASHER and the "insiders" themselves are the 100% most likely causes IMO for everything this thing has done for over a month and a half now, let alone the past several yrs. No need to look any farther than that. The lead guy just upped his own pay to nearly a $1 MILLION a yr total comp package, while the market cap just plunged now to about $12 million, not even enough to cover their cash deficit and debt pile as stated by their own auditor's in the "going concern" statement in their own 10-K. A million bucks a yr, to get these results? Yeah- blame the "stock chat boards", sure thing. Laughable IMO.
A "website" was created about the 100% REAL LAWSUIT? Huh? What?
That is the BROWARD COUNTY, CLERK OF A U.S. COURT, 100% legit "website"?
Should we call the County Court system in Broward and tell them they're a fraud or a fake? Complete with a duly elected "clerk",with a judge assigned and named by name, with a case ID number assigned and the plaintiff having a counsel retained, who via a simple google search is seen to be an EXTREMELY successful civil law firm- who by the way have EIGHT employees shown, versus the FIVE listed in BHRT's own, last 10-K? Really?
https://www.clerk-17th-flcourts.org/Clerkwebsite/BCCOC2/OdysseyPA/CaseSummary.aspx?CaseID=7155410&hidSearchType=party_case&DisplayCitation=no&CaseNumber=CACE13024037&SearchType=
So, it's being stipulated that this is a FAKE WEBSITE and FAKE LEGAL CASE? Really? Stunning IMO. Beyond amazing. Gotta be kidding? That is staggering "news" IMHO?
That site, is as real as it gets- as is the name of the judge, the clerk of that 100% real court, etc.
SEC FORM 4, "What do they mean" was asked.
Just more "enriching" of the insiders essentially IMO. They're more options being granted to them. Aka the get "free" shares (aka being given shares essentially) that can be "exercised" at a "strike" price and then sold, typically at a profit if the share price has gone above the grant/strike price. If the options are below the strike price, they are known as "out of the money" and could expire worthless. Normally when a company grants options to insiders, those options "vest", typically 1/4 each yr, for about 3 to 4 yrs minimum. Meaning if you were granted 100,000 options to buy at say .02 per share (always has a "strike" price), then you'd typically be allowed to "exercise those options 25,000 after 1 yr, up to 50,000 yr 2 and so forth up to yr 4, when you'd be allowed, at your choice to exercise all 100,000 and then if they are "in the money", meaning the stock is trading higher than the option-grant price, you could sell them for a profit.
What BHRT has been doing several times now lately is 1) They grant the options to these select insiders, such that they "vest" IMMEDIATELY and thus can be "exercised" and turned around and dumped/sold immediately at a profit. Usually, options are granted at the "market price" the stock is presently selling at- thus, the options are supposed to be a LONG TERM INCENTIVE to keep good, highly productive employees around, to perform and MAKE THE STOCK PRICE GO UP, via becoming profitable, executing on the biz plan and so forth- so they can make themselves wealthier one day hopefully. Not "vesting immediate", so a quick, dump shares for cash deal, to give them quick money can be created IMO.
I'm looking at Filing form-4 for Sam Ahn right now for example (will check and read them all when I get time).
He was granted another 800,000 options on 2/24/14. They VESTED IMMEDIATE on same day 2/24/14. They do not look discounted though- as the market price was probably about .019 per share then, which is the price of the option. (INTERESTING as heck though IMO, that this was just prior to the massive pump to .08 though? Coincidence? Don't know?, Strictly my opinion- but the timing was "perfect" so say the least, as they vested immediate, and thus by March 6th, the peak .08 day, they could have all been exercised and sold at a huge profit. (.08- .02 essentially = .06 X 800K = $48K for example)
What's most interesting though IMO, is that Ahn filed a SEC Form 4 (as did most other insiders) on 3/14/14. In that form 4, box 9, of table II, it lists his total derivatives holdings (options + warrants they were just given a boat load of warrants I believe, "in the money") it lists the total as 10,619,716 + 11,019,716 = 21,639, 432 as of that date 3/14/14.
This form 4, signed today, 4/15/14 lists box 9, table II total now as 19,019,716. Which IMO, means he unloaded, right when the price has been way up, he unloaded 21,639,432 - 19,019,432 = 2,620,000 shares, somewhere between 3/14/14 and today IMO. Over 2 million shares he would have at least "exercised" and IMO most likely sold then.
A quick run down of each form 4 shows the following IMO:
Kristin Comella was granted 400K options, priced at .019
Kristin Comella was granted 5 MILLION option at .019, of which 1,250,000 vested as of 2/24/14, the rest to vest at later dates
Samuel Ahn granted 800K more options, priced at .019
Mark Borman granted 800K more options at .019
William Murphy granted 800K more options at .019
Mike Tomas granted 800K more options at .019
Mike Tomas also was granted 10 MILLION options at .019, of which 2,500,000 have already vested, the remainder vest on later dates
Sheldon Anderson was granted 800K options at .019
All these "option grants" appear dated the same day, 2/24/14 and they all vested immediate, meaning on same day, 2/24/14, except for the remaining chunk of Tomas's 10 million (7.5 million remaining), 2.5 million stated as vested on 2/24/14.) Comella similar, 1,250,000 vested and the remainder of the 5 million to vest later.
THAT'S IT IMO from reading all those form 4's. They are option grants- give aways to insiders, and nothing more.
Anyone "trying" to claim this means some big "deal" or something "big" is about to happen, blah, blah, blah IMO doesn't know what they're talking about. Again, the timing of all these "instant grant" options being given out, then the price suddenly exploding upward on no news essentially on March 4 to 6th or so, is what's most "interesting" to me- the timing is "amazing" shall we say, in the least IMHO. Amazing. Did everybody exercise and sell these shares into that big run-up? Don't know until they file more documents later on. Simple as that IMO.
But they all filed Form 4's on 3/14/14 too, and those were also big option grants that vested "immediate" and were at .02 per share. And thus also would have been "big time in the money" on this recent run-up, for example 9/1/13 Ahn was granted 400K options at .02, vesting immediate and a bunch of other form 4's were filed that same day, 3/14/14, essentially saying the same or similar.
Just paying and enriching the insiders, nothing more IMHO. Granting um more options- no "implications" of "something" big, blah, blah, blah whatsoever. The OPPOSITE IMO, when you vest um "immediate", it says you're trying to give them ways to cash out as quick as possible to "get paid". Else, you'd vest the options in the future, nearly always. Even on the huge grants of millions to Tomas and Comella, they made at least a million or more shares "grant immediate" if you read the document.
That's my opinions and mine only from my read/understanding of the documents and nothing more. Take it for whatever you want. I'm not an expert, I'm not advising anyone, I'm not implying to buy or sell or anything else. Just a person who read the Form 4's filed with the SEC and giving my opinion on what they say.
If you have a different opinion- put it out there or whatever. Good luck.
Dog, been saying almost the exact same words, for a month plus now.
IF, this thing, this supposed "technology" and all, and all the "PR" so called "deals" and "talks" and "seminar" stuff was so scorching, cutting edge hot- then WHY is it a 2 cent stock on the OTCBB, and nearly always out of cash, and loaded with debt, every kind of odd-ball debt you can get IMO, and went into default on a key BofA loan and then created this "thing" called "Northstar" and on and on and on? WHY?
Let alone why so many "PR" never seem to ever come true, or even be heard about again- I can list 50, going clear back to previous CEO's about "deals" and "sales gonna be XYZ" and "imminent this" and "BREAKTHROUGH" (that is a favorite PR word of theirs IMO- it "litters" so many PR it's laughable IMO),etc? WHY as you say?
For the pittance of a market cap this trades at- WHY hasn't some "major player" or big firm or drug company or whoever just stepped in and bought um out? Why? It's petty cash drawer money to a major company to buy-out this market cap. Noise level money- but instead, you got nothing but shares being dumped like water, now diluting out the common shares to nearly half a BILLION shares (was 420 million at 10-K) it will easily be 500 million by a month or two more IMO, IF they're still paying themselves and paying there bills- cause there's no cash/money coming from anywhere else that I'm aware of? Let alone, if any of the "convertible shares" are now being "converted"- the dilution will be massively more.
None of it, as you point out, makes any sense in the slightest according to the "PR" and the "blogs" and $billion supposed market/technology, let alone how every key trial just seems to stall, peter-out and go nowhere, then they start over with a FIVE person "trial" in Mexico and blast if all over in "PR" as the next "big thing", when the phase II/III trial(s) sit parked and essentially going nowhere, the cheer leader squads here and on several other boards. It's a 2 CENT, essentially BROKE "company" of 4 or 5 people, TWO of which just "granted" themselves massive raises (as in a triple yr over yr in base salary plus bonuses) and it's in a rented office "suite" with a $60K or so total annual rent, is loaded with debt, etc.
No sense whatsoever to me either IMO. None.
Why "writing off" debt isn't a good thing??
Cause you just STIFFED/SHAFTED a creditor or someone who put faith in you via a "contract" or similar that YOU were going to pay them something back in the future, either installments and/or a lump sum and typically with interest, that's why.
Just go ahead and default on a mortgage or a car loan (which the finance company/bank will then "write off") and then go to "try" and apply for a new loan or credit or a biz loan or even to rent a place or whatever. See how well you're received and liked and what the interest rate will be- double digits min, if they will even lend to you again for years.
It's actually the creditor that "wrote off" the debt as being "bad". Which means they HAD, PAST TENSE, an ASSET on their "books/ledger" and now have to move it to an expense, a LOSS. Banks, creditors, those who loan- DO NOT like to see "assets" go bad and disappear for any reason. It can make them fail and insolvent if it happens enough times- and thus, they REMEMBER who did it to them previously, and share that info with other creditors/lenders/banks/investors in a thing called a "credit report" or a "statement of financials" or whatever- so the next guy knows if he/she wants to take the risk on maybe getting "stiffed" and not repaid. Of course some will always lend money- even to high risk pools or candidates- but you now have to pay mafia level interest rates plus points/fees, etc- there's no free lunch for having discharged past debts w/o repaying them.
BHRT gets to "discharge" it- meaning it moved from being an expense on that side of the ledger, to they now have to book it as a "gain" (read the exact words in the SEC 8-K release) and it may have tax implications. But the point/concept is the same- the wording of the original post just got it a little backwards as to who "writes off" and who gets the negotiated, magic "debt disappearing/discharged" part.
PRICE DOWN 70%, common stock from March 6th, to today (about 6 weeks). DOWN 99.40% from Feb 19th, 2009 to today.
Common stock shares massively diluted from 27,327,705 shares as of only June 30, 2010 to now 420,920,157 as of March 24, 2014.
And still, some call this a $billion "opportunity" or company and say "management is doing a great job" or whatever, blah, blah, blah.
By any generally accepted business metric, performance metric that I'm familiar with out there, this is a total, abject business failure by any measure anyone wants to use IMO.
AND, despite all that- the two key players in the company, just, essentially tripled their own compensation packages recently. One, the CEO, to a total annual compensation approaching $1 MILLION annually (while the total market cap is now $10.5 million, and the company is buried in debt and near out of cash- making it essentially worthless IMO)- that's laughable IMO. AND, that includes "bonuses"?? Bonuses FOR DOING WHAT?
(see most recent 10-K, PAGE 71)
If this doesn't smell bad to people, then they must be "hard of smelling" IMHO.
"RSI is approaching 30" AND price is approaching ZERO, as is market cap.
Great. Good. Wonderful. From one or two cents, to .08 in a matter of days, then to .0243 in what, less than about 6 weeks?
And one doesn't believe this is a total "set-up"? That's gotta be one rosey colored glasses, world view out there IMO.
If this past few months, doesn't put this on the SEC radar in a serious way, then I don't know what will, IMO?
IMO, "PR", "blogs", "webinars", "seminars", "talks", "deals in 3rd world countries", "term sheets", financing that "might" happen, trial "news" that "might" come true, blah, blah, blah, blah- NO ONE CARES, for certain not me.
It amounts to NOTHING, just noise is all I hear IMO. Pure NOISE.
End of story. Could care less about some "webinar", just adds to the total "set up" and bad smell IMHO. Totally meaningless. Unless it involves a LOT of non-dilutive, cold hard cash, or real "financing" on decent terms, then IMO, it's all meaningless and just hype and noise and pure nonsense.
"webinar"- sure thing, and they can put the pump-n-dump stock chart slide into the little webinar "display" for all to see, and the present bank account cash balance too. Then, the "webinar" or "youtube video" or whatever, "might" be worth a watch, or the 2.5 minutes or 1 hour or whatever taken out of one's valuable time IMO.
Else, might as well watch paint dry, IMO.
"Per the 10k. There are 50 million shares that were purchased (unregistered securities). Investorstemcell called this a type of "bridge loan" until Cassel pulls through with a funding deal.
Per the 10k these 50 million shares have to be "cashed out" between $0.0299 and $0.11."
COMPLETELY, TOTALLY FALSE IMO. Please cut n paste exact pages from 10-K. Not a shred of that is true IMO. None.
There were 50 million warrants "granted" as in GIVEN AWAY, in combination with 50 million shares of common stock that were sold for a total gross (means there could be fees and who knows what "costs" taken out of that gross) for $865,000 total. 865,000/50 million = .0173 was paid for each of those shares. No one "purchased" the 50 million warrants, they are GIVEN AWAY as a "sweetener" to the stock purchaser- to entice them to be willing to buy the stock, thus providing the $865K "financing". THAT is what took place.
Further, there is ZERO evidence any "bridge loan" which is a LOAN being in place, or going to take place or whatever. A "bridge loan" is just that, A LOAN. NOT warrants, not common stock being sold, etc but a LOAN (a DEBT instrument w/ a high interest rate typically and short duration) secured with "collateral", hard assets like real estate, machines and equipment, receivables, etc.
Also, the 0.11 for the warrant "strike price" (it's NOT the price the common shares were purchased at- see above calculation, they were sold at .0173 avg per share to gross $865K) is totally incorrect and is a "typo" in the 10-K and is corrected on the very same page.
Most recent 10-K, PAGE 51:
"
warrants issued in connection with our private placements in 2013 to purchase an aggregate of 50,350,536 shares of our common stock at prices from $0.011 to $0.0299 per share expiring ten years from the date of issuance.
Recent Sales of Unregistered Securities
In 2013, the Company sold an aggregate of 50,029,227 shares of the Company’s common stock and warrants to purchase 50,350,536 shares of the Company’s common stock for aggregate gross cash proceeds of $865,000. The warrants are (i) exercisable solely for cash at an exercise price of ranging from $0.11 to $0.0299 per share"
So, the "private placement" is/was done and is OVER, that common stock (50,029,227 shares was sold and would be included in the now, 420 million shares outstanding count, dilution), and that revenue/cash would have been "booked" already and shown in the 10-K and there was very little cash left end of 2013, so it's BEEN SPENT ALREADY.
Now, what you had/have is someone who has "IN THE MONEY" warrants, 50 MILLION of them (50,350,536 to be exact) at a "Strike" price of .011 to .0299- the first line in that statement above, from 10-K. The .11 below is a typo, they missed the zero in it. So those warrants (right to purchase more stock and then "flip" sell it if you want) are as low as just above a penny a piece- and can be "exercised" for .01 to .0299 which means they could, even after this massive selling, be at least some, WELL "in the money" still.
THAT is the truth IMO and with the facts/10-K to back it up, contrary to "other" statements being made.
"BHRT's future is bright"?? About as "bright" as one of those new "eco", maybe 3.5 watt, dim bulbs IMHO.
Nothing is "bright" here IMO. The market cap is now about equal to their debt now, again. Meaning, the market, for the most part is saying the "company" - whatever "that" is (rented suite, 4 or 5 people, some lab equipment, and some "deals" in who knows where, and some "trials" or whatever), is being valued now at about ZERO again. That's my opinion, and apparently that of the marketplace. ZERO or close to it, IMO.
Market cap approaching around $11 million now, that's $11 million away from zero (I have homes not a far drive from me, selling for that much), and when you add their debt back in, no cash essentially, no real assets per say, etc you end up with a value/worth of pretty much ZERO IMO. The market cap doesn't even cover the debt pretty much at this point now.
That, ain't a "bright" anything IMHO.
Most recent 10-K, PAGE 25: "verbatim quote"
"Risks Related to Our Financial Position and Need for Additional Financing
We will need to secure additional financing in 2014 in order to continue to finance our operations. If we are unable to secure additional financing on acceptable terms, or at all, we may be forced to curtail or cease our operations.
As of March 24, 2014, we had cash and cash equivalents of approximately $211,632.80 and a working capital deficit of approximately $13.4 million. As such, our existing cash resources are INSUFFICIENT to finance EVEN OUR IMMEDIATE OPERATIONS. Accordingly, we will need to secure additional sources of capital to develop our business and product candidates as planned. We are seeking SUBSTANTIAL additional financing through public and/or private financing, which may include equity and/or debt financings, research grants and through other arrangements, including collaborative arrangements. As part of such efforts, we may seek loans from certain of our executive officers, directors and/or current shareholders. We may also seek to satisfy some of our obligations to the guarantors of our loan with Seaside National Bank & Trust, or the Guarantors, through the issuance of various forms of securities or debt on negotiated terms. However, financing and/or alternative arrangements with the Guarantors MAY NOT BE AVAILABLE WHEN WE NEED IT, or may not be available on acceptable terms.
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.
"
"Bioheart is number 3 on the break out board. "
Well, it's NUMBER ONE on the REALITY BREAK DOWN SELL OFF BOARD.
"Break out board"? What is the "Break out board" and why should anyone care? LOOK at the reality of what's taking place across all the "stock chat" boards, the flood of nonsensical chatter, and then LOOK at the reality of the total price collapse.
Who cares what "Break board" says or "predicts" or claims, or whatever. It's meaningless IMO. Just noise. Penny noise, while the entire "set up" is taking place in real time, right here, before our eyes IMO.
"Bottom is falling out here. No support.
Looks like this turd is circling the bowl, reading to go down for good. "
I'd say that's one of the probably more truthful statements so far this AM among, and is the closest to reality IMHO so far, of all this "clutter" and pure nonsense being blasted out. Was finally able to find it, one decent statement, buried among all this nonsense clutter.
Guess truth, takes a little digging to find. Talk about background "noise" and nonsense on here now. "Someone" is "working" a total set-up IMHO. And it's not good. This is gutter level penny-ville IMHO only. It's bad no matter how you look at it IMO.
I was "critical" and "skeptical" to say the least in the past month from the run to .08, (on no "news" essentially, on zero financial condition improvement in the company, the two key people getting giant raises, more massive dilution in a one yr period- as in share count more than doubled, Asher floorless convertible finance deals right up to Feb, 2014 listed in the 10-K for yr ended Dec 2013, etc, etc, etc) and was essentially crucified for even "attempting" to speak about it, literally. Even attempting to post even some "questions" using the 10-K and what it said/says about their real financial condition,etc would get me beat down on here so bad, so many times a day- I was getting bored and exhausted from even trying.
Now, I won't even try and post the ole, "I told you so". But, I told you so.
"I think whoever provided money in exchange for those unregistered securities per the 10k is selling off before a major announcement and they aren't "in the money" anymore. IMO."
I think that's PURE, conjecture and in no way based in any possible facts that a "major announcement" is anywhere near and never has been IMO. "major announcement" has been repeated for over 2 yrs, and never materialized. Just a bunch of "empty" IMO,"PR", largely about nothing and "blogs" and "conferences" and "seminars" and "deals" off in some 3rd world country never to be heard about again and blah, blah, blah.
The guy yesterday who used the "scam" word- is looking more and more like a possible sooth sayer and sage perhaps.
NO WAY, all this "chatter" and cheer leading, across who knows how many stock boards and chat outlets and whatnot, came from nowhere all the sudden, AND the price collapses EXACTLY at the same time, near within MINUTES. NO WAY it's possible IMHO.
This is a "set up" of some kind- and it's ugly. 1 or 2 cents to .08 in a few days time beginning about March 6th, then back to as low as .03, then re-pumped to about .06 and now every chat/stock/PR/twitter whatever outlet lights up on the EXACT SAME DAY, EXACT SAME MOMENT with the most inane, empty nonsense "chatter" as the stock price goes into massive collapse on high volume?
No way again IMO? Not even close. I just can't where those rose colored glasses. I can smell this through my computer screen- that's how bad it stinks IMO, whatever "this" is that's going on. It's coordinated IMO, and it's B A D, bad.
AND, if "they" are short, you better believe they're still "in the money" right now, and also, are "some" of that 50 MILLION or whatever it was pile of warrants handed out like candy (IMO) - they went as low, if I remember, as .016 strike price or something (can easily verify in 10-K)
"final accumulation day"?? DOWN 17% on higher than avg vol is no one "accumulating" IMO?
That was massive short selling or just plain, dump-selling. The spread has tightened way up, which tells me the broker-dealer is done with the pump, and turned and went the other way now, more than likely. For two weeks- the spread was 5% to 12% to fill a lousy $1000 bucks worth. Suddenly, two days ago it began to tighten to like today, as in .033 bid and .034 ask for example.
The big "debt payoff" (actually negotiated not paying a major debt owed) did nothing, went over like a lead balloon. Lots of "PR" too about conferences and blah, blah- and it ain't doin a thing. Their cash, the $211K would be about zero any day now, given the burn rate- so unless "ASHER" or someone is "doing the deal" real soon, they're back to busted, broke.
Further, the key Seaside loan needed to be "renewed" (as stated in 10-K) by Q-1, 2014 as it expired on Dec 31st, 2013, and there hasn't been a peep about that yet either (Q1 was over, 2 weeks ago).
This can be in freefall for all we know right here. And nothing explains what happened across multiple chat and stock boards today- someone had a coordinated effort, including "things" right here that are beyond obvious IMO.
Someone's manipulating this in a huge, coordinated "play" -question is, which way are they really going? Was all the cheer leading the smoke-screen cover as they're loading massive short positions? No way to tell today what those sell order were- short, or just dumping. "accumulation" is a flat chart, not a 17-19%, high vol blow-out to the down side.
It broke the 50 DMA, if it doesn't solid bounce more than once off it, it's headed way down IMO.
Market cap is now back about $13.X million. Which, when you look at their debt, accumulated cash deficit, the entire company is being valued again at close to nothing now by the market. The market cap and debt are approaching equal again. And, as stated, a key loan is up for "re-guarantee" and we don't know what's happened to that yet?
Someone, almost like someone getting paid, or making a major money play stepped into this today- it's obvious by how they "stacked" and took over all chat and similar boards/communications outlets. Who they are, or who's paying them or what their motives are- who knows, but we'll know soon enough IMO.
It was coordinated IMO. They "lit up" the InvestorstemcelXX site too. That site hadn't had a BHRT post on it in days, maybe one every few days. Some guy named pharmXXX just posted today, like 5 times, exactly timed with what "lit up" on here.
So, we have confirmed from many sources that:
Twitter lit up
Some penny "news" site lit up or at least moved BHRT recently to a "hot" list on which it hadn't appeared before (gs stated)
A bunch of links and disclosures here (I-hub) suddenly appeared like a light switch. The $BHRT symbol appears all over the place.
Jj here said Seeking Alpha lit up too, exactly same timing w/ here and the "tweets" and all, like someone said "GO" and all the blasts hit all the boards at once.
And more- probably on chats, penny sites we all haven't even totally figured out yet. ALL timed as if someone threw a switch, or sent an email blast or who knows what, and gave the "GO" instruction?
Had to be coordinated IMHO. This has a bad, bad smell to it IMO. Don't know if it's gonna be a pump coming up, or this is the dump/shorting side? Remember, I posted links prior- and wasn't popular for it, links that very clearly explained how "toxic financing" works.
The one link had a great example of what happens when say, an "ASHER" type of firm goes short. It's called a "ratchet" in that they sell some short, price drops, cover some, short some more, price drops, cover some more- on down, until they finally hit the bottom desired price, then use the balance of their "convertible" shares to cover their remaining short- and laugh all the way to the bank.
I'll repost the link- this is one of the best explanations, easy to read and understand I've ever found. It's good especially as it gives an exact example as to how they (ASHER type firms who specialize in "floorless" convertible share for cash deals) or someone like them, would take the chunks of money/shares and actually do the step by step, step-down process like today, to "ratchet" down the short, then the final "cover" at the bottom, which could take days or weeks to reach their "bottom" target price, and how much "bank" they can make on their money.
http://www.stockpatrol.com/article/key/deathspiral
Also, agree with others- don't think using the "scam" word is the right place to go (that's a pretty specific and "delicate" word to say the least- lets don't go there IMO).
It's a penny stock that's struggling in major ways with "financing" and cash needs, no doubt. Because of that, they've had to "work" about every rabbit trick, make use of every available "finance deal" , get in bed with about every lender of last resort (aka ASHERS of the world) and more to "try" and stay afloat- and because of that, they get in the hurt locker unfortunately of being at the behest, IMO, of some of these stock folks of the OTC and penny/microcap "finance" world. Asher types, a lot of recent "in the money" warrants, shares used to pay others- who may then want to unload all the sudden, etc. - which, probably all adds up to a pretty good chance the stock is ripe for manipulation and/or being jerked all over the place for a multitude of reasons.
The "ASHER types" of this world, IMHO being the worst and most likely suspects when things go really "odd" as there are entire threads/web sites, etc that have tracked the historical volatility and often, sometimes even demise of stocks who have had to heavily rely on the "floorless convertible" share route, and specifically "Asher", unfortunately.
http://investorshub.advfn.com/~-ASHER-~-25451/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68247638
Only thing that bothers me the most today though- is the, at least, STRONG "appearance" IMHO of some sort of "coordinated" form of "collusion" in using all these chat and PR and other sites together. THAT would be heading into serious SEC violation territory potentially IMO and gross manipulation and classic pump n dump, or dump n short or whatever- in the worst connotations possible IMO. And that's bad- as the poor retail saps (people typically on a board like this) can get taken to the cleaner and never know what happened? Collusion is/would be a bad, bad thing IMO. Is it an ASHER type firm, or some "short team" or whoever? Don't know and can only speculate. But many articles, credible articles, even the SEC own warnings about what "convertible" shares with "reset-and-floorless" can do, and how they are often "worked" in some "coordinated" fashion to pull off all kinds of "odd" trading stuff, exist all over the net.
What exactly just happened today- not sure in the slightest? Tomorrow, this entire week, will be interesting to say the least. I can't prove anyone like "ASHER" is involved. I only use their name over and over, as we know from the 10-K, they have been the primary go-to source for the convertible share, floorless type "financing" deals for BHRT, but I can't implicate them in anything, as I have no proof- so let me state that clearly here. I'm purely tossing out theories, hypothesis and only OPINION, so don't take it as anything more than that !! I only use their name as an example of a "type" of "finance house" who tends to specialize and do deals in "floorless, convertible share deals" and we know, specifically they have done, as recent as Feb, this yr, deals with BHRT. So, I'm in no way implicating them in anything, nor can I prove anything.
All is speculation that I post. Nothing more.
CHECK DISCLOSURES- there in lies the "clue" IMO.
Jj just pointed some things out about "twitter" and "seeking alpha" all "lighting up" apparently in unison, and I pointed out the chatter-blast here, like someone threw a light switch on at XY hour. Notice, all this "stuff" suddenly has the "professional" level, what I call, a "registered trader or investment adviser or pro-trading house" required legal statement on it.
Just read a BUNCH of what "suddenly" has come up on here that most of the regulars have never seen- you know what I'm talking about.
And look at the bottom of those statements, BOLD BLUE chatter, old news rehashes, company product descriptions,etc
BOTTOM OF POSTS: (usually this is the CYA for "pro" people)
"What I say is my opinion and my opinion only! Happy Trading!"
"Visit my board"NY Penny Stock Exchange" for today's pick at"
"The posts contained on this account are my own opinions and are not recommendations or advise to buy or sell any security, stock other investments."
"Consider all my posts my opinion and not advice to buy or sell anything. I post on stocks I own or am considering owning. Do your own DD!"
AND, "suddenly" a bunch of links at bottom to self promoting penny trade sites, "newsletter" type sites and similar? ODD as all get out IMO?
Notice now to- market closed and the flow of "chatter" was like someone just shut the faucet off? SILENCE all of the sudden? A DUMP or short or something? Wow, that was some wierdo stuff IMO? Really penny-ish and bizzaro IMO? Like where and why did that come now, today?
AA, no, I don't IMO think anyone's going there. We both posted some "technical chart" stuff and were both "speculating" about the 50 DMA , which is a well known "technical" trade point.
No, many here, have seen this nasty "stuff" before- we're more than likely (I can't speak for others) but IMHO, I'd say we're all thinking the likes of the "ASHERS" of the world, or something with these piles of "warrants" or a big, insider or institutional seller needing to unload- someone just stated that, and it's as good a theory as I can think of IMO.
No, I think this is regulars speculating about some "pro" as in "professional" level "house" being behind this somehow. Not the first time it's been seen on BHRT, let alone the OTCBB, penny world obviously. They're just a bit shocking and surprising when they hit out of the blue- as they always seem to do.
Things were cruising along, I personally stated vol IMO was "drying up" a bit, getting thinner, drifting toward 50 DMA as we exchanged posts.
I was gone from computer for several hours- decide to check in and first thing I saw was posts were 87 at top of page? I was like WHAT THE HECK? Scrolled right down and wanted to see the price and volume and BAM, it's bleeding red. Then I jump over and start to read the threads/comments and it's bizarro-world in bold blue, and old news re-hash and happy-pump chatter box talk talk. I was like, WHAT THE HECK happened here when I was gone?
It's like driving up to a bad car crash, after they moved the cars to the side of the road and trying to understand/figure out what just happened. Don't think anyone has you cited or even suspected in anything. No worries- you were just looking at 50 DMA and so was I, doing chit-chat about maybe a trade or my theory if it would bounce and hold support or not. I never suspected it blasting through it like this.
But the board, chatter-blast activity is the real puzzle piece IMO? Really odd to say the least IMO.
"Generally I have seen the "$" being used on Twitter and SA. "
Jj, I'd buy that "theory" as being as good as anything out there- we haven't always seen eye to eye, but I think we both agree this is really "odd" and smells bad most likely? I ain't gotta clue on it- and that's the honest truth.
I don't follow the "tweets" and have stated so before- so, you could be more correct in that you have some previous experience watching that side? (gs I think knows the "tweet" side pretty good too- wonder if he's got a theory?)
What does "SA" stand for? Not familiar with that term? Is that another outlet or place they post or something? You're saying you see that $BHRT symbology used there too?
Interesting to say the least? Man, they're pounding it to the down side now, 19% and volume going way up. This has to be "institutional" IMHO. I smell "ASHER" or their ilk or something along those lines here. Purely speculating and opinion of course- but I'm clueless.
I was stating about the 50 DMA at .034 or whatever for a couple of times- just a chart/technical analysis type deal, which doesn't always make me the most popular guy in our debates- but this is bizzaro level stuff. There's no "technical/retail" trade going on here IMHO. This is someone/something "organized" as in "pro" IMO.
Even ole Gs and I don't get along a lot in debate- but he stated several times (paraphrasing) that it's "sad or not good BHRT is on the "OTCBB" as it leads to manipulation and all and what not." And I totally agree with him on that. I posted "yank and bank" or "jerk and pull" or whatever you want to call it before- it's OTC ,penny level stuff and the retail folks just get blasted, blind sided from nowhere IMO.
I'll be waiting for the dust to settle on this, that's for certain. The 50 DMA had me intrigued a bit. That just got all blown away in about 30 minutes now- and the board behavior and now hearing of "tweets" and all, means it's real "danger Will Rogers" territory IMO. Let dust settle, re-evaluate, try and figure out what the heck just happened.
Has some "smell" of that dip to .063 day- remember that in Dec 2013? How fast it came on, and BAM, gob smacked everyone out of nowhere?
SPARE ME THE ALL CAPS AND BOLD BLUE PLEASE- it doesn't make the PUMP or whatever it is, any more credible. Thanks.
The statement is vapid, empty and meaningless IMO. Thanks for wasing 2.5 seconds of my life to read it. Really, and IN BOLD BLUE. Really.[color=red][color=red][/color][/color]
"but I feel like a strategy is in play to provide enough optimism that will enable holders to hold while someone somewhere liquidates their shares."
I think that's a totally plausible "theory". It makes sense. I just stated near same idea, along the same lines. Either short, cover, short, cover in increments down, while keeping enough "optimism" that the buying doesn't totally dry up.
Or your theory just described above too- that there is an "unloading" and the pump-up the "optimism" is to try and keep enough of a floor under it, so as to unload w/o total price collapse?
I think that's as good an idea/theory as any IMO. Somethings "cooking" and I don't think it's "good" IMO??
$BHRT symbol being used repeated? That to me is associated with certain, IMO "pro" firms/commentators I'm familiar with here.
They have the pro "disclosure" typically at the bottom of their posts? Don't think it's a coincidence that suddenly that same symbol "$BHRT" specifically with the "dollar" sign in front and in all caps is getting plastered all over?
Something smells bad here IMHO?
I'm puzzled to say the least too. This smells of "Asher" or something IMHO. As stated- are they going short or long or "warrants" or who knows what?
You and I don't always agree- but you ain't kidding here, something is "up" to say the least and who is behind it, would be fascinating to know IMO?
From about 20 posts maybe a day, to suddenly 88 or more in the blink of an eye- from one's that never followed, as least not in a long time on this company, while the price is going all bizzaro?
Wierdo-rama IMO. You're correct- something/someone appears to be cooking up, brewing something and it probably isn't good for the health of the stock one way or another IMO?
Down 16% plus, while volume is now heading up. All the positive, "happy" news, re-hashing old news links? Is that a "disguise" for the firm doing the shorting so they can prove they didn't go negative on it, or is it to keep enough buyers as they short, cover, short, cover- wash, rinse, repeat on the way down?
As weird as I've ever seen- I think odder than the .063 dip day, which threw everyone for a loop, to say the least?
Wow, you got me on this one?
You ain't kidding !! PUMP AND DUMP is so obvious, Ray Charles can see it from 100 miles away. Funny though- it ain't working so far. Busted the 50 DMA and not looking good for a bounce so far.
Some boiler room just lit up the board though, IMHO. Wow. It's called "stacking the board"- a planned attempt to push anything but "cheer leading" posts off the front one or two pages and bury anything based on anything except hype.
They're dredging up old accounts that haven't been used for years. Interesting to say the least. Watch for a "PR" or "tweet" blast about "something/anything" IMHO. That would confirm it IMO.
Well, they're under about $5 a share and that's despite having "TEVA" (a pretty big hitter on board as a partner) and they list quote:
"Mesoblast’s intellectual property covers the Company’s cellular therapy compositions, efficient processes for their extraction, purification and manufacturing scale-up, and the broad range of applications for which they are being developed. The intellectual property portfolio includes ownership of or exclusive rights to 61 patent families, which provide major commercial advantages and long-term protection across a number of technologies in key markets including the United States, Europe, Japan and China."
And BHRT lists "Myocell" as pretty much, if not at all, as having no patent protection anymore, again their own 10-K statement(s).
So, with all that going for um- Mesoblast is still looking to be on a long, long road- and their stock is in a straight downtrend if you look at the chart. $6 to $4 and still trending down.
And they're "starting" a phase III, which means, IMO they are at least several yrs out from even concluding, let alone does it "work" and then submitting for approval- and wow, 1700 in the trial.
See the Baxter trial- FOUR years they are stating to even get "final data" and Baxter obviously knows what the heck they are doing - and has a staff and money to draw on, second to none IMO.
http://clinicaltrials.gov/show/NCT01508910
Enrollment: 291
Study Start Date: April 2012
Estimated Study Completion Date: June 2016
Estimated Primary Completion Date: June 2016 (Final data collection date for primary outcome measure)
NOTICE: it is a phase III, "ADULT AUTOLOGOUS" stem cell trial.
Here is a previous one that Baxter "concluded", took 3 yrs according to the .gov site and is the same type of "CD34+" cells and had 150 patients it looks like. 3 yrs, 2006 to 2009.
http://investorshub.advfn.com/boards/post_reply.aspx?message_id=100549460
FOUR yrs they are expecting, and it's only 291 patients, a phase III and I personally would trust that Baxter, again has a world class "staff" at their disposal, probably 2nd to none in the industry IMO as born out by their past record of enormous economic and product success and industry reputation. They are trading at $72 a share with a $40 Billion market cap, 60,000 or so employees on probably every continent on the planet, and are enormously profitable and consistently profitable and pay a dividend, increasing dividend to prove it. So, I think it's safe to say they "know what they're doing"- so when they list 4 yrs, for a 291 patient, stem cell, heart related, phase III trail with the FDA, they must have some "clue" what the heck they are doing?
I'll take that as a valid opinion of course- would sure love if it can be sited or found in some actual "research" or "academia" or similar "journalistic" papers though? Some of the "conclusions/assertions" of the "simplicity" of stem cells to whatever you want to call it, to, I guess, "complex drugs" appear to me, IMO only of course, to be nothing more than your own assertions (worded, "like I said") and (which you have a right to, of course- but I don't see any FDA, academia, or industry written commentary anywhere stating similar opinions of that, "like I said"? At least not that I have found?)
So the "theory" being put forth is:
"Autologous stem cells have a strong safety record when compared to new drugs. Hence the low number of patients needed in Bioheart's Myocell trial.
A typical drug trial or allogeneic stem cell trial is like 2000 patients. This is 10 times the number of patients, because safety is a larger concern. So a guesstimate would be a tenth of the cost.
1/10th of $100 million is about $10 million."
Fine, it's "possible" I guess? But again, I haven't seen any hard, published, peer reviewed or research institute or academia articles or whatever- that ever has appeared to use similar language or make similar claims? None that I have ever found?
By contrast- the vast number of stem cell companies to ever go "public" as stand alone, public stock traded companies, now have most (a majority) residing on the OTC or "pinks" or "penny stock" status (and the list is long of all those "in the field") and would seem to back up the position, IMO, that they have, and are facing staggering costs and FDA complexity to the point of nearly bankrupting many, to several already being totally de-listed off even the OTCBB and being truly BK (I can site names if needed- they are probably well known here, as there is another stem cell "chat" site that lists lots, if not all of them) and nearly everyone of the public traded firms in the public markets (at least USA) is 1) A penny stock now or 2) Several have now vanished entirely, totally out of biz already.
So, that would tell me IMO, the costs and difficulty are proving staggering to say the least- no one in any of the "stem cell arena" across a broad range of illnesses/treatment/technology and ideas/types has "succeeded" yet that I know of, at least not in a major way (crossing the holy grail FDA finish line), such as an FDA "blockbuster" approved "stem cell" XYZ "treatment" for anything yet, generating any major sales $dollar figures as yet that I am aware of, and that's 20 yrs into the industry now approx, and many more yrs since basic, academia research began.
Manhattan Institute for Policy Research- again, pretty "heavy hitters" IMO in the industry research and credibility department. Their papers and publications are cited in academia and major news outlets and similar on a regular basis. Highly credible research IMO.
http://www.manhattan-institute.org/html/fda_05.htm
This research paper of their sites and discusses the "lengthy" and "complex" and "costly" process of new drug approvals, etc.
Quote from their (Manhattan Institute) research:
"Conclusion:
Our research has established that Phase III trials are, by far, the biggest expense, and the biggest risk, of new drug development. In fact, we have found that Phase III trials are even more expensive than is commonly thought. That expense distorts the drug-development system so that it does not efficiently and rationally allocate time and money to find new medications. Regulators block useful drugs from reaching patients. Researchers are discouraged from attempting to serve the most numerous populations of patients. And investors face the prospect of spending vast sums for nothing."
Again, would love to see/read contrary data that shows FDA to be relatively "simple" or "quick" or only in the $10 or $20 million range or similar. I've yet to ever find or read anything to that effect. Would like to read it though, if it's out there.
Another good article- appears well researched, and in a very respected "journalistic" publication known for "doing their homework" and knowing what they're talking about when it comes to "industry" of all types:
http://www.forbes.com/sites/aroy/2012/04/24/how-the-fda-stifles-new-cures-part-i-the-rising-cost-of-clinical-trials/
The article is critical of how the "FDA STIFLES" drug/approval processes by shear complexity and costs, and notice, the ole "Phase III" is discusses as the most difficult, long and complex part of the entire "nut" to crack and pass.
"In this paper, we look at four particular areas of public health concern: obesity; diabetes; stroke and heart ailments; and “orphan diseases” (ailments that afflict very small populations and hence lack the normal market incentives to develop treatments). We analyzed the progress of 12 major new pharmaceuticals developed across these four categories and found that in nearly every case, Phase III trials represented AT LEAST 90 percent of the ENTIRE COST of a drug’s development."
And they stated:
"After all, only one in 12 drugs that enter human clinical trials end up gaining approval from the FDA. This risk profile has led smaller companies to go bankrupt when they have faced setbacks in clinical studies. "
ONE out of 12 is what their numbers showed- making it across the "FDA finish line".
Again, site other references would be great. Especially in the $10 million range to "complete a phase III", would really be fascinated and interested in reading IMO.
The costs of a "DRUG PHASE III" are the same IMO- as stem cells have been ruled and upheld by U.S. courts and FDA to be "drugs"- so here are several sources regarding the staggering, "typical" costs of bringing a "new drug" through the "gauntlet" to FDA approval:
http://www.nature.com/news/fda-s-claims-over-stem-cells-upheld-1.11082
" The case hinged on whether the court agreed with the FDA that such STEM CELLS ARE DRUGS.
The judge concurred, upholding an injunction brought by the FDA against Regenerative Sciences, based in Broomfield, Colorado. "
http://www.fda.gov/aboutfda/transparency/basics/ucm194655.htm
ADULT STEM CELLS names specifically - "At this time, there are no licensed stem cell treatments."
Cost of DRUG approval via FDA "typical costs"- to complete a phase I all the way to phase III approval:
http://www.forbes.com/sites/matthewherper/2013/08/11/how-the-staggering-cost-of-inventing-new-drugs-is-shaping-the-future-of-medicine/
http://www.forbes.com/sites/matthewherper/2012/02/10/the-truly-staggering-cost-of-inventing-new-drugs/
"A single clinical trial can cost $100 million at the high end, and the combined cost of manufacturing and clinical testing for some drugs has added up to $1 billion. But the main expense is failure. " ("failure", meaning of course, the well established FACT, that most drugs ever entering a "pipeline" never even make it to FDA approval- the percentage is very, very low. Just cause a "trial(s)" take place, it's no where near a "slam dunk", as is so often implied or directly stated here that "FDA APPROVAL" is just a "few steps", some "simple filing" away, and only a "few months" away- that is a total fallacy IMO, and data bears that out)
http://www.genengnews.com/insight-and-intelligence/what-is-the-real-drug-development-cost-for-very-small-biotech-companies/77900012/
They put the "low end" it looks like at $250 MILLION, but industry majors had it at $800 million in the 1990's and now over a $billion per drug. Same article:
"A 2013 study by EvaluatePharma found that that Phase III clinical trial costs were $85 million for orphan drugs vs. $186 million for a nonorphan drugs." (so that's about the lowest figure cited I've seen- and that's $85 million for a "bare bones", single drug company set-up only to attempt one drug through the "trial process", and they list $85 million for just the phase III portion. (matches, is in-line with other numbers cited)
Another source with a "low end" estimate of ONLY $350 million or so:
http://money.msn.com/top-stocks/post--how-much-does-it-cost-to-develop-a-new-drug?ref=bfv
"On the other end, a company that develops one drug only spent an average of $351 million."
Very good article from the " Knoepfler Lab Blog at UC Davis School of Medicine". This is a major "stem cell research" facility associated with a highly credible, top rated University in CA - this info is describing current state of "stem cell" FDA approval and claims of "treatments" using "stem cells", etc
http://www.ipscell.com/patients-guide-to-stem-cell-treatments/
How serious is the FDA taking "stem cells" and "treatments"- read this one.
http://www.businessweek.com/articles/2013-01-03/stem-cell-showdown-celltex-vs-dot-the-fda
So, make of it what you will. The rulings via courts as of today IMO, on U.S. soil, by all reading/research I can locate is that stem cells are going to be regulated as "drugs" and thus they will need same/similar trials, and those trails by all historic/industry norms from experts, found in 100's of articles from university's like "Tufts" to the pharma industry itself, to reputable, well know business "journalistic" firms like Forbes or MS Money or Bloomberg, etc all, seem to agree that the costs are in the $100's (as in multi $100's of millions lowest end) to often much more than that IMO, and all seem to agree that the number of drugs that begin as a "compound" or a "prospective drug" etc, the number that ever make it out the other end to final "FDA APPROVAL" is low, compared to all "candidates" that enter the phase I or even "clinical first stage" as a "suspected candidate".
Here is a Forbes article discussing how "hard/tough" it is to make it from discovery or "clinical" all the way to FDA approval, how low the success rates are, how high the costs are and ideas on ways to improve that staggeringly difficult process (numbers given are 1 of 10 ever make it out the FDA end to "approval":
http://www.forbes.com/sites/johnlamattina/2014/02/07/a-way-to-increase-drug-rd-success-rates/
If there is other research info to prove otherwise- post away. Would love to read it please. Links to only credible source only please- universities, industry pubs, journals, major "new" sources of the financial industry, etc. Please no "self made" blogs or videos or whatever- don't think they really count IMO as "sources".
Here's a last one- and this guy is a "skeptic" that big pharma has "over inflated" the cost to get a "New drug to FDA approval", yet he still agrees the costs are "staggering", the number of approvals is "low" and still puts a "low estimate" to quote:
"The most recent estimates suggest that mean costs now likely exceed $200 million for all three phases, and these costs have been increasing over time, up 600% since the 1970's."
So, nowhere, ever that I am aware of - have I personally ever seen a research or industry or similar article/paper/journal that sites a phase III as being even remotely in the range of "$10 million" to get "completed". Never have seen it- and that's looking pretty hard with a modern tool like google search- which doesn't "miss" much in this world- if it was ever published.
If anyone can find a "$10 million" or similar number, especially a recent case of a "new drug" approved by the FDA and done for a phase III cost of $10 or so million, please post it. Would love to read it.
Remember too, from BHRT's own 10-K, they don't even hold patent to "Myocell" anymore it appears from their own SEC documents, which makes the risk/investment return even greater IMO. 10-K, dated 3/29/13, PAGE 16:
"Our MyoCell product candidate is no longer protected by patents, which means that competitors will be free to sell products that incorporate the same or similar technologies that are used in MyoCell without infringing our patent rights. As a result, MyoCell, if approved for use, may be vulnerable to competition in the form of products that use the same or similar technologies. We have previously licenses certain patents and patent applications relating to our MyoCell product candidate. These licenses have all lapsed as of the date of this report, although we have had discussions with the relevant licensor regarding a potential reinstatement of our rights in such licenses."
Again, if there is even a single reference to a phase III, in the $10 million range, it would be very interesting to read about IMO.
Perhaps that's just a lot of pure speculation, and just opinions, IMHO. Doesn't really make much sense to me IMO?
Also, "videos" like that in the link, "American Investor" are IMO, the equivalent of penny promotion "newsletters" and similar. Just try and find out who the "American Investor" is? They're not some legit "news" or "journalistic" outlet like a CNBC or "Bloomberg" or something IMO. They're typically paid "PR" set ups or similar. Google "American Investor Kimberly Cole" and the ONLY returns you get is that BHRT "video" and BHRT "PR" - that's it. It's a promotion video- as in a penny stock letter type setup, again IMO. They're made to look like some actual "news" interview or something- but they're just paid ads, promotional video made by "whoever" and then some graphics of a name "American Investor" or whatever are slapped on um, IMO. Typical penny stock "stuff" IMO.
Also, to say it would only be $10 million to finish a phase II/III, I just don't find in line with well documented industry numbers, IMO. $10 million sounds way low, from many published, industry articles I have read- can site links easily.
Further, if $10 million was what it would take, and that was 2011, they have actually spent $10 million or more since then, if you look at the yearly losses in the 10-K's since 2011. So, that amount was spent, and those key trial(s) (Marvel) went nowhere. Never budged that I can see?
From most recent 10-K, PAGE 26:
" Since inception, we have generated substantial net losses, including net losses of approximately $3.1 million, $4.0 million, $4.7 million, $5.2 million, and $4.4 million in 2013, 2012, 2011, 2010 and 2009, respectively and substantial negative cash flows from operations. We anticipate that we will continue to incur significant and increasing net losses and negative cash flows from operations for the foreseeable future as we:"
So, they incurred losses (spent) $3.1 mil 2013, $4 mil 2012, $4.7 mil 2011 and $5.2 mil 2010 and that trial didn't move forward a smidge that I can tell?
So, if $10 mil was all it needed- it seems to me they have spent that much since that statement was made, and none of it could have gone to even begin to advance that key trial forward again? None? 3.1 + 4 + 4.7 = $11.8 million. So it's not like they haven't been spending, burning through cash- and they only have like 4 or 5 full time people per their 10-K employee count, and their annual rent is only like $60K or something (see 10-K) and so forth.
So, IMO they burn up a lot of cash on salaries and overhead and "stuff" and not much goes to trials or R&D IMO, if you look at the 10-K's. The SG&A spending to R&D is like more than 3 times or something. Kinda outta wack, just my opinion. Most recent 10-K, PAGE F-4: Total R&D spent in 2013 was $626,983 and total Marketing, General and Administrative (commonly known as SG&A) was $2,267,831. That's 2,267,831/626,983 = 3.6 times as much spent on salaries and overhead and "stuff" to that spent on R&D for a company of about 5 people? Again, very "odd" IMO? Way out of balance to many other company's expense ratios IMO. (for example: Microsoft and Google's SG&A to R&D ratios are about 1.96 and 1.40 respectively- and they obviously have huge marketing expenses and advertising and all, as they have huge sales numbers; Pfizer was about 2 to 1 SG&A to R&D recently, and again, they'd have enormous marketing/sales costs as they have huge drug sales forces, etc) BHRT doesn't have much "marketing" costs as they don't sell much of anything. Administrative- for 5 people? The rest is "general" I guess- which is a "catch all" for who knows what?
And, when they are cash strapped, as in really cash strapped IMO, and these trials haven't advanced, they just gave substantial raises to two people- the CEO and CSO, substantial as a percentage yr over yr "base" and bonuses too boot. Doesn't make a lot of sense IMO?
Latest 10-K, PAGE 71
Mike Tomas:
2012 base salary $247K, total 2012 compensation $347K
2013 base salary $391K, total 2013 compensation $936K
(now, almost a MILLION annual compensation- and the big phase II/III trial(s) are "parked" waiting on $10 mil?)
Kristin Comella:
2012 base salary $105K, total 2012 compensation $105K
2013 base salary $159K, total 2013 compensation $366K
(a "triple" in total compensation in a yr, not a bad gig IMO)
Those are enormous yr over yr percentage increases IMO (CEO base increased by 391-247= $144K/247K= 58% increase in one yr, while the company is struggling? CSO base salary increase $159K-105K= $54K/105K = 51% increase. Don't know too many people getting 50% base salary increases in this economic environment, especially when their companies have "going concern" warnings and all, IMO? And that's not even adding in the "bonuses" and "other" compensation?
Especially for a company that has approx. $211K total cash left on the books in that same 10-K report, after just doing qty-3, "Asher" type deals to raise $100K of that (last page, recent 10-K)? Seems odd to me, but that's just me.
The base salaries, for just those TWO people are running $391K + $159K = $550K/12 = $45K a month. R&D total spending for 2013 was $627K/12 = $52K a month (recent 10-K, PAGE F-4). So the entire annual R&D budget is about the same as the annual salaries for TWO people, of a company of about 5 people total? Odd, IMO? And, giving out big raises and "bonuses" when you're in a cash strapped position and your major trial(s) aren't going forward cause in your own 10-K, own words, you state "funding" as the primary reason?
Oh well?
Posted end of last trading week that move toward 50 DMA looks possible, maybe likely IMO.
50 DMA sits at .034 according to my large chart. (March 26/27, it already touched .035 again, 2nd and 3rd time since March 10th when it went all the way and touched .03, following the collapse days 2 and 3 days after the big .08 day)
Need to see if it goes there and bounces IMO. Touch 50 DMA a few times w/ a bounce probably = good thing/support and maybe entry point.
Move to 50 DMA and it breaks it a few times in a row, probably = full down trend IMO and 200 DMA is at .019 which would be free fall territory IMO, as not a lot of support looks to be in between.
Of course, watch volume too, either upside or a break to downside. Volume has been pretty steadily lightening/drying up since March 6th peak day at .08 and near 20 million shares. Back to several, sub 1 million share days now, a few only around 600K now already.
Just a month and a half, to less than 3 months ago- it'd have days doing only 200K, 300K shares at .015 to .02 which is like $3K to $6K dollar volume traded in an entire day, near totally ill-liquid. One medium/big sell order on days like that, and you had the .063 day mid Dec, 2013. So, when volume really thins out, it's time to be careful IMO.
50 DMA is certainly next spot to watch in coming week(s) IMO
"Clinical Trial Marvel "- yes, that's all great info. But, and this is the big "but" that matters IMO- is "Marvel" has been essentially "dead in the water" for what, about 4, almost 5 yrs now? And there in lies the crux of the problem? Why? Why? Why, "if" it's the "cat's meow" has it been "on the shelf" and going nowhere for so long? It's puzzling to say the least IMO?
From latest 10-K, PAGE 2:
"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"
Notice, Sept. 2009 is last date mentioned.
A few lines down- it then states (same 10-K page)
"We are seeking to secure sufficient funds to reinitiate enrollment in the MARVEL and REGEN trials."
Again, there in lies the puzzle IMO. By Sept. this yr then - it will be FIVE YEARS for "Marvel" and "REGEN" essentially being "parked" in a holding pattern? Why is that? Why hasn't someone "bit" and moved on it? What's the missing piece or problem? "Marvel" would have been the "it" the "big it" for the "flagship" Myocell, the road to the holy grail of FDA approval, correct? Instead, now it's "Mirror" (also appears to be going nowhere, or snail pace slow IMO) and then now essentially "starting over" on Angel, a 5 person, phase I in Mexico, NOT University of Miami as originally stated in numerous PR (yes it's a different product, but when your phase II/III has not advanced, why siphon off precious, little resources to move back to phase I starting gate?)
Those are the $billion dollar questions IMO?
"Heart failure occurs after a heart attack ". Actually, "heart failure" occurs in many, many different situations and for many, many different reasons- and the majority have nothing to do with a "heart attack".
Most is cause by age, genetics, diet, lack of exercise, lifestyle (stress for example) and smoking a huge factor, etc. Heart attack is low on the list of causes of "heart failure".
Here, read it from the American Heart Association- I think they know what they're talking about:
"The term "heart failure" makes it sound like the heart is no longer working at all and there's nothing that can be done. Actually, heart failure means that the heart isn't pumping as well as it should be."
"What is heart failure?
Heart failure is a chronic, progressive condition in which the heart muscle is unable to pump enough blood through to meet the body's needs for blood and oxygen. Basically, the heart can't keep up with its workload.
At first the heart tries to make up for this by:
Enlarging. When the heart chamber enlarges, it stretches more and can contract more strongly, so it pumps more blood.
Developing more muscle mass. The increase in muscle mass occurs because the contracting cells of the heart get bigger. This lets the heart pump more strongly, at least initially.
Pumping faster. This helps to increase the heart's output.
The body also tries to compensate in other ways:
The blood vessels narrow to keep blood pressure up, trying to make up for the heart's loss of power.
The body diverts blood away from less important tissues and organs to maintain flow to the most vital organs, the heart and brain.
These temporary measures mask the problem of heart failure, but they don't solve it. Heart failure continues and worsens until these substitute processes no longer work.
Eventually the heart and body just can't keep up, and the person experiences the fatigue, breathing problems or other symptoms that usually prompt a trip to the doctor.
The body's compensation mechanisms help explain why some people may not become aware of their condition until years after their heart begins its decline. (It's also a good reason to have a regular checkup with your doctor.)
Heart failure can involve the heart's left side, right side or both sides. However, it usually affects the left side first.
Type of hear failure:
Left-sided heart failure
The heart's pumping action moves oxygen-rich blood as it travels from the lungs to the left atrium, then on to the left ventricle, which pumps it to the rest of the body. The left ventricle supplies most of the heart's pumping power, so it's larger than the other chambers and essential for normal function. In left-sided or left ventricular (LV) heart failure, the left side of the heart must work harder to pump the same amount of blood.
There are two types of left-sided heart failure. Drug treatments are different for the two types.
Systolic failure: The left ventricle loses its ability to contract normally. The heart can't pump with enough force to push enough blood into circulation.
Diastolic failure (also called diastolic dysfunction): The left ventricle loses its ability to relax normally (because the muscle has become stiff). The heart can't properly fill with blood during the resting period between each beat.
Right-sided heart failure
The heart's pumping action moves "used" blood that returns to the heart through the veins through the right atrium into the right ventricle. The right ventricle then pumps the blood back out of the heart into the lungs to be replenished with oxygen.
Right-sided or right ventricular (RV) heart failure usually occurs as a result of left-sided failure. When the left ventricle fails, increased fluid pressure is, in effect, transferred back through the lungs, ultimately damaging the heart's right side. When the right side loses pumping power, blood backs up in the body's veins. This usually causes swelling in the legs and ankles.
Congestive heart failure
Congestive heart failure is a type of heart failure which requires seeking timely medical attention, although sometimes the two terms are used interchangeably.
As blood flow out of the heart slows, blood returning to the heart through the veins backs up, causing congestion in the body's tissues. Often swelling (edema) results. Most often there's swelling in the legs and ankles, but it can happen in other parts of the body, too.
Sometimes fluid collects in the lungs and interferes with breathing, causing shortness of breath, especially when a person is lying down. This is called pulmonary edema and if left untreated can cause respiratory distress.
Heart failure also affects the kidneys' ability to dispose of sodium and water. This retained water also increases swelling in the body's tissues (edema)."
Notice, "HEART ATTACK" is not even mentioned.
"why some think this is a bad thing the company is trying to pursue?"??
Site one instance of that statement ever being made? Or is it better to just invent, create conjecture, make it up, whatever, to "try" and create innuendo for whatever the real motive is?
Further, at what age is "heart disease" the so called "leading cause"? Stats mean lots of things- it's a simpleton statement to make a blanket statement IMO. EVERYONE will "die" of something, at some point.
Cancer deaths are almost identical to "heart disease" deaths- and take far, far, far more young people's lives, including children, than so called "heart disease" ever will.
We lose 40,000 or so people to automobile "accidents" every yr, and have done so since stats began being tracked. More U.S. young people lost in auto accidents since the auto was invented, than in all wars combined since WWI, WWII, Korea, Vietnam, Gulf I, and Afghanistan combined. Does that "bother" you?
You aren't going to prevent death in this world, especially death of "old age", of which "heart disease" is the leading category. People don't die from "dementia" for example, they die from "cardiac arrest" or "heart failure" or some other cause on the death cert. As there is no such cause of death as "dementia" - only the body shutting down as the brain fails, then eventually some key organ must fail/quit for death to ensue. Just had a good friend die, he had early, as in very early onset, very unique type of alz/dementia. But he didn't "die" from that- he died from wasting away and his organs shutting down and then listed as "cardiac arrest" on the death cert. My own father had cancer, the cause of death on the death cert was "cardiac arrest" as there is no such thing as "dying from cancer"- you die because you don't breath anymore, or the heart stops beating, etc. ALL those go in the "heart failure" stat category.
So, stats can mean a lot of things. Not many young or even middle age people dying from "heart disease".
From a major medical journal-, "Coronary heart disease remains a leading cause of mortality in the United States, with 84 percent of persons 65 years or older dying from this disease. "
From another major medical journal, "Age. Older age is a risk factor for heart disease. In fact, about 4 of every 5 deaths due to heart disease occur in people older than 65.
And forget about even taking into account smoking, alcohol abuse, lack of exercise, obesity, genetics, etc- ALL major contributors to the so called "heart disease" so called "death stats" category.
So those numbers/stats you site are twisted at best and easily misconstrued as to what they really mean, or reflect on the true, leading health issues IMO. "Heart disease" is largely the disease of "old age" and/or bad behaviors- and you're never gonna do much about that.
And it goes on to point out the obvious in the same journal article- a great deal of those deaths can be prevented/prolonged for years via SIMPLE lifestyle and diet changes. I.E. losing a few lbs and something as simple as walking 15 to 30 minutes a day or swimming or doing light exercise. Quitting smoking being the single greatest factor an individual can control/change.
Stats- make of um what you want. Can twist um so easily. I can do it a 1000 different ways- I'm expert in probability and statistics, can make um say or read whatever you want the outcome to be or "imply", or cause "warning" or whatever outcome you'd like it to be, and they will appear 100% legit, be very hard to prove otherwise, and will be based on what appears to be "real" data.
Most important though- is the simple making of statements that were never said, never posted and "claiming" they were- that flushes the entire rest of the credibility right there IMO. No more complicated than that. Wanna "try" and pump the share price and deny the dire financial realities of the company's condition per their own 10-K and similar, despite the supposed multi $BILLION dollar market and all- just come out and say so. Don't hide behind fake statements or whatever.
AND, is the words, "NOT ON THE CUTTING EDGE" ANYWHERE in there ? ANYWHERE? One more time, ANYWHERE? Wanna check again- ANYWHERE? One more- last try ,ANYWHERE?
Yeah, thought so. Nice try.
1) I'm not your "friend" - I don't even know you.
2) HE made the initial personal attack via the statement, singling me OUT, and asking, "DID I EVEN READ IT". THAT is a personal attack whoever you are.
Keep your thoughts on the TOS to yourself please.
"Bioheart is leading the private sector in cardiovascular stem cell regeneration."? WOW?
4 cents a share and $211K total cash left on their books as of the most recent 10-K, about 5 total employees reported and they're "leading" the "private sector"? Fascinating IMO?
That sector must be real, real, real small then, IMHO? Funny, Baxter is in a phase III, "in the private sector", in essentially the same/similar field of research as BHRT and has about 60K employees and a $billion or more in cash at their disposal- but I guess they aren't "leading" at anything? Wow. Amazing IMO.
U.S. govt shuts down NIH stem cell program, center for "regenerative" medicine . Interesting?
http://www.nature.com/news/nih-stem-cell-programme-closes-1.15004
http://stemcells.nih.gov/research/nihresearch/scunit/
(indeed looks like their web site is a dead link now)
Wonder what that's all about? Can't be a good sign IMO, for being on the "cutting edge" and all, can it?