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I do not believe that Nevada was ever really an objective. It seems to have been wordplay to justify the pending RS and share offer.
R/S in 3800 range followed by a 3x OS share offer on its back is coming ASAP.
The reason BRTX does not have the $ for a trial, is because they are far more interested in paying themselves w/ our $ than actually doing the trial. They have already paid themselves more than $18M in the first half from a company with less than a $12M MC. This is blatant robbery. Who do u think is paying for all these options/ shares and salaries?
Stay out of the OTC. It is a corrupt slaughterhouse and retail investors are its sheep.
Stick with real equities. The OTC is more like the OTB. You longer you play the more you lose, unless you too are a criminal :)
Maybe after the R/S and share offer they can pump this up and get it to Nasdaq on the hope of a successful clinical trial, but they have already failed to meet the requirements of their exclusive deal on BRTX-100.
Any of us holding will be diluted into near oblivion all for the greater good.
I can't even sell my shares at a huge discount. Nobody is buying... why!!?
Because they know what's coming. The view from the outside is much more clear than from the holder's stance. It's like a sheep being led to the slaughter with still some hope for a miracle-
Retail shareholders with any significant shares have been ensnared in this dilution trap w/ little hope of escape before the coming compression wave.
I didn't believe all the naysayers and built my position, and now it's pretty clear they were pretty spot on w/ BRTX.
Anyone want to buy shares today? Tell me # shares and price and I'll put out the limit order for you to scap them up, if reasonable.
I wish this were true. Unfortunately, Lance now has the weapons he needs to squeeze ~$20M out of this thing. Now I see that he never really wanted Nevada incorporation, it never really made much sense. They added the either or statement to have an excuse for doing the ol' double whammy.
I estimate they will do an R/S factor between 2,800 and 3,000.
Step 1: Off hours, the R/S will be reduced to around 1.2 M shares, taking the pps to ~$10.50. But don't get too excited, Jimmy....!!
Step 2: A share offering will come out on its back selling an additional 3.55M shares at a price around $3.50.
Anyone holding will see their investment be worth 1/3rd of what it was prior to the R/S & Offering. So if you're already at a 70% loss, you will have another one coming on top of it.
The company will capture $20-21M from the sale, ....if it can sell the new shares into the market. This share price would qualify them for Nasdaq.
They will also as a "good will" gesture, reduce the # of approved shares to a less ridiculous level to meet Nasdaq expectations/ rules.
The doomsday device is now in countdown.
less than 6M shares traded by 1PM today. Any feedback/ news from the board meeting this morning?
Much more quiet than anticipated. Expected some news by now....?
Maybe this is a dead cat bounce, w/o the bounce...?
The 10-Q Thru June 30 just issued. Look at the general Admin line. This is all compensation for the officers of the company. This can’t be legal.
Did anyone see the 10q for June? Over $18M given to themselves in the first 6 months of 2021.
This is criminal and I am filing a formal complaint with the SEC.
when u own as many shares as I do... ya Gotta get out the pom poms when there is some hope- I never push false claims, only potential scenarios good/ bad IMO. Just seems like the stank has gotten ever worse and the mud ever deeper.
I have pretty much given up on it. We don't know all the facts, but the overall view is pretty dire unfortunately.
I guess we'll see what happens... future growth comes from manure, so ya never know :)
Tomorrow should solidify things somewhat. I'm afraid they are on the same track as before, enriching themselves and creditors and never getting the needed funding to move this pos up. They will keep the $ train going as long as they can before it runs off the tracks for good.
My sentinent has soured greatly over the past few weeks. I have seen nothing of substance from Lance and clearly they are in a bad spot: pps is too low to make a sensible share offer and if they had alternative financing lined up, they wouldn't need to offer shares at this time.
Unless there is a really big surprise(s) tomorrow, I'm afraid this turd is just gonna slowly sink to the bottom of the pond.
Let there be light....
No telling for sure...? I suspect Nevada is approved. Not sure about the 2021 compensation package aka the pay me and screw the investors package.
I can't continue losing $10k/ day on this POS!!!!
Lance will report the proxy results during the meeting.
I hope there's a big, phat rabbit under this guy's sleeve!!!
As the pps continues to plummet, the chance to make any more $ from shareholders evaporates.
Let's take it to down to $.0021. I'd rather throw my $ out the window than give any more of it to these gentlemen.
No R/S at this time. Nevada will most certainly pass.
The concern is how they will raise the funds to move fwd.
Share Offer:
It is now confirmed that they intend to dilute the pps with a share offering to raise $- not very surprising.
Since the MC is now under $14M, they cannot offer new shares cheap enough to raise all the $ they need for Phase 2- impossible!
Even if they doubled the OS, they could only squeeze ~ $7M from shareholders and the price would move to $.0021 and lower with panic selling. AND they would need "someone" to buy all of the new 3.5B shares at the offer price.
If the volume remains a meager 25M shares a day, it would take at least a month for the market to absorb all the new shares and that is with something to warrant investor interest.
They simply cannot raise enough $ through share offers to get enough $. The pps is far too low.
With their exlusivity agreement also expiring in February, things seem pretty dire. The terms required them to already have the clinical completed by now.
Prediction: They will issue shares to get, knowing that the BRTX-100 deal will likely dissolve. MGT will then pitch thermostem as their new savior and on again to pumping and issuing shares to themselves on the backs of the dumb money.
I have already lost a large amount of $ on this POS. I pray for some good news, but not very hopeful now.
Unfortunately, it’s probably to protect themselves from lawsuits. Nevada is notoriously favorable to the mgmt when things go all Mr Lehey.
Everyone steps in shit every once in a while. BRTX has been one that looked like a muddy puddle with some potential. BUT wham! As soon as you step in it you're up to your eyebrows in shit!!
Lance et al don't have a plethora of choices to save this pup tent from blowing away in a strong breeze. I get that it is tough getting funding and fightjng all the naysayers. But, what I cannot forgive is that they awarded themselves $14+M in stock/ options which exceeds the market cap of the entire company!
There had better be a choir singing and a great sermon on tbe mount, or, I will have to finally sell my 50M shares at a huge loss and call my lawyer.
GLTA
There is still hope and remember it is often darkest just before the dawn.
They taught us in Seal training that when you reach the keel and all is dark and confusing is when u need to stay focused and calm.
I guess we shall see what fate brings us soon...?
If Lance makes the wrong moves here, this thing is gonna fizzle into oblivion and $millions will be lost for mgt and shareholders.
Frustration = Owning BRTX shares.
It's continuing to wash out more and more each day-quite depressing. Bottom wall today- .0035?
Hoping for better days.
Buy panic sells near the bottom and sell them back to hopefuls near the top to keep avg down is the only strategy left to not go totally down the drain. Although it only works with high volume and day trading acct.
Have u ever been driving and "wake up" to wonder where the heck you are? That's BRTX. How the hell did I convince myself to jump into this muddy puddle w/ both feet ??
I do get really lucky every once in a while, but really concerned at how this will play out.
I have never seen a stock with so many evil THETANS attached to it. :)
Thanks, I found it in the 10-Q. So they paid themselves $14M in options / shares in the range of the total market cap for the company.
WOW!!
Has anyone heard anything "solid" about the ~$15M Admin/ General charge to the P&L in Q1 this year?
That gives me the image of Jim Lehey saying "There's a shit storm comin', Randy and its a big one..."
BRTX cannot possibly raise $20M with less than 400 share holders and warrants, etc. IMPOSSIBLE! The MC was only $18M yesterday before today's unsurprising collapse.
I don't see how they can raise even $12-$15M with a share offer. I est. it would take ~ 80% dilution of the current pps to even get close - down to $.002 range. And price would dip well below this as everyone dumps their shares.
If they try to rape the holders for all the $ they need, it will trigger a full collapse of price and subsequent trip back to BK. And it would likely be a total loss for shareholders this time.
Either Auctus plays ball w/ BRTX, or stand to lose quite a bit of potential profits.
I'm not sure where this train will end up, but the view has been pretty damn crappy for a long time and seemingly we stand at either the precipice of total collapse, or of some new structure that will attract investors.
I never thought I could be so stupid as to risk so much on a "donkey" dressed up to look like a Seabiscuit.
I am afraid you are on it.
I will be expressing my deep appreciation to Lance, et al for pilfering my $.
I do believe in karma and if she doesn't do her work, then I will have to do it for her.
GLTA
If they offer enough shares to tbe market to get 12-15M it will likely reduce the value of ur current shares by 50+%.
If you have $10,000 in shares today, ir will be worth less than $5000 after the offering.
Then u will suffer and wait until there is a significant appreciation in price even to break even.
Many retail investors are already down 60-70%.
Call it what u will, but the $ will effectively come from the current holders.
What this means is that they intend to dump shares on the market to get the financing they need for clinicals = further dilution, which is exactly what I feared would happen. Get the funds they need by pickpocketing current shareholders.
Since there only seems to be 367 owners of stock as of April. This was around the number of my HS graduating class.
This needs some major PR, or it will continue to run like a rigged card game in someone's basement.
GLTA!!
And where did this Q1 loss # come from? They have been burning cash at a rate closer to $4M/ QTR. Maybe they already paid for the clinical trial with their corporate VISA :)
An interesting day for BRTX. Good to see the pop in volume. Someone gobbled up my bait of 2M shares at $.005 in one gulp, so there were some reasonably hungry tuna swimming by the EOD.
I look forward to seeing volume and price rise in anticipation of the upcoming board meeting. I'm not so sure we'll hear anything of significance next week other than the approval to reincorporate to Nevada.
I expect we may hear about a financing deal/ other a "short time" after reincorporation is complete, etc.
I pray for good news!
GLTA
Just put out a sell limit for 2M shares at .005 to test the waters. Only 3M shares traded today so far. Pitiful action. All that hold are hoping for a miracle and seemingly very few have any interest in buying, or buying more for that matter at these prices.
It feels like BRTX is selling their wares at a flea market, but everyone keeps walking by with little to no interest.
All we need is one big buyer to walk up and buy all our inventory. More likely to happen in a movie than in real life but then seemingly miraculous things happen all the time.
LOL GLTA!!
My conclusion is that there is an investor/or merging entity lined up, and reincorporation to Nevada is a contingency of the deal. This is not uncommon and provides a significant tax savings if there were to be a major financial transaction post re-incorporation.
All BRTX is at the moment is a few patents, and a licensing agreement, AND a large SG&A burden.
If they do indeed have an investor, I suspect it will mean very good things for share holders when it's announced post re-incorporation.
Playin'and Prayin'
What do you guys take away from this statement from Lance in the updated proxy statement RE: Nevada reincorporation.
"Such reincorporation is important in providing the corporate flexibility to take certain actions that we believe will facilitate any financings we seek."
I hope u are right. I own far, far too many shares of BRTX. Great news = big $, bad news = begging on a corner :). Maybe not quite but it will feel like it.
The old BRTX started in Nevada, but then moved to Delaware. Now they are moving back to Nevada. There has to be some other advantage they gain by moving back other than the taxes, which could change anyway with a new state administration.
It is now Aug 4th. We are getting close to the board meeting.
PLEASE let there be great news and the pps rise at least back to $.035.
Otherwise.... it's only money.
I have no huge concerns over an RS. A clean R/S would be good to flush out the turds and get the pps to a more respectable level. However, this does nothing if not backed with substantive news/ action. Also, it gives them a good segway into right sizing their horde of approved shares. This must be fixed to move fwd.
A tandem public offering of shares is what I really worry about. They require the $ necessary for Phase II and the build-out of labs, or it is back to BK for good this time. So, they will do what is necessary to get the dough regardless of the OTC retail investor sentiment. They want desperately to rise out of the cesspool that is the OTC.
Where is the $ they need gonna come from...?
Squeeze it out of existing shareholders, or borrow it from another entity that is OK taking interest only payments vs share options/ warrants, etc.
What do you think is more likely to happen?
Look at MOHO this morning. This is what's going to happen to BRTX if Lance releases reserved shares for the clinical trial, except it will drop much, much worse.
Wow, 12 M+ shares traded today! This stock it so H-O-T, baby.
I must say though that I have seen this happen before on stocks just prior to a rocket ride. Everyone seems to be holding tight in the hopes of some good news.
I am pretty confident that if we don't see some MAJOR news by the time of the board meeting, this sucker is gonna fall like a hot rock!!
Pray for a good day...
He’s not the bad boy out crying “wolf” as you suggest. He’s just a poor blind guy that enjoys pretending he’s a squirrel.
And as we know…
It states that the company can, at their discretion, also R/S and reduce the number of approved shares ( the magic 300 billion). This may indicate that they understand the need to reduce the overall number of approved shares to be more in line with “real” companies, but certainly not assured. They will want to keep their approved shares as high as possible w/o scaring away even the dumbest of us. They must know that the 300b is way out of line for institutional investors. This is a big ass “Quicksand” sign for any of the smart money crowd. My best guess is that they would R/S them at the same rate as common shares while also reducing the overall # as % of MC. If they actually launch this damn trial and become a “real” biotech company, they will not be able to attract the big $ w/o having their reserve shares in line.
Also, there is no language for/ against offering shares to the market at the same time. They can and will do this w/o a proxy vote.
My fear is they try to generate the whole $12M they need from a dual R/S / share release to the market. In one fell swoop, they get the $ they need all at the bag holders expense. We lose another minimum -50% of value of our shares regardless of share price.
At this point, I can only hope that these guys are upstanding citizens and not the criminal scammers that some on this forum regularly express.
BRTX…!
NP. It was inspired by an earlier post I read.
Let's hope something good happens for BRTX this week.
With you Alabama! It would be great to no longer own any OTC pond scum equities. It's great when u win, but real winners are relatively rare.
I reread the proxy statement,... again. It appears to me that the R/S commentary is a "subtle" threat to retail shareholders that if they don't vote for reincorporation, then they MGT would initiate an R/S in retaliation.
Does anyone else interpret it like this...?