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Yea the whole market is down significantly
Of course and I'm a long hold on BRTX. I speculate the same. But for the people asking for proof there is none.
That's because neither of these things have happened. No person or document involved with BRTX has said it's funded. And the Proxy says basically if they don't approve reincorporation they will R/S and if they do they can R/S in the future without shareholder approval. Lance has said they would do it if they needed it. All signs point to a R/S, just a matter of when and what happens between now and then. Anyone talking about funding is speculating and has no proof. The only thing they put out was a roadmap showing the trial starting next year - but that's just their goal not a definite.
That was someone else and there's no proof at all so I'd take this persons word with a grain of salt.
https://twitter.com/JudySta55293836/status/1413230203380326401
Like most of the info that is circulated here, that is completely false. $10 million of market cap has evaporated over fear and panic when in fact the company has never been so financially strong and scientifically advanced. We stay the course, we learn and we execute our plans.
— Lance Alstodt (@lalstodt) July 9, 2021
Long here. They almost definitely will reverse split. The proxy statement is basically preparing investors for it. If the vote to reincorporate is NO, the "lack of money saved" will be their reasoning for a R/S now anywhere from 20-1 to 4000-1 which I'd guess it would be more along the line of 4000. If the vote to reincorporate is YES then they are now operating under Nevada law which allows them to R/S without shareholder approval. My thoughts are this will give them some time to try and secure funding and maybe, just maybe not R/S. But reading it out it's like the breakup before the breakup - the proxy basically is mentally preparing us for it. Maybe under reincorporation it will be a lesser ratio but it will happen. They state clearly their goal is to get to the Nasdaq and need a $4 price point.
It's going to happen just a matter of when and what ratio. Regardless I'm holding long, I think the product is great and getting a piece at this PPS isn't a huge investment. It's educated gambling and I'll roll.
I just rewatched - fast forward to around 40 minutes with their timeline of "near-term goals." For Q1 2022 they show "First Patient Under FDA Phase 2 BRTX-100 Treated." So it looks like their goal is indeed Q1 2022.
Here is a link to the emerging growth conference video for those who missed it:
If you're referring to the emerging growth conference yesterday they were able to put on a presentation but were unable to get to Q&A due to running out of time. The conference was just uploaded to youtube.
This is possibly true. I had one headphone in listening while working so I was hearing bits and pieces. Apparently the video will be uploaded to youtube though it has not been yet.
Assuming they find the funding their timeline in their presentation yesterday said Q1 2022 if I remember correctly
Anyone want to pool together $12m?
Quick summary of the call from memory - both Lance and Auctus were very interested and believe in products which is the reason they approached the bankruptcy they way they did instead of liquidating - the judge was really impressed. There will be future announcements of other uses of brown adipose. The $45M in the filing is the estimated cost to fund Phase 3, which their public accounting firm made them estimate. Their goal is to uplist and expect once the Phase 2 trial results show what they know it will show that $45M will be easy to raise. Currently exploring many options for funding the Phase 2 but wouldn’t comment further. LA doesn’t follow daily trades like we do but said warrants are being converted and sold. Said R/S is not something on the radar at this time but isn’t something they would rule out as uplisting would be huge – hopes to get there naturally and couldn’t even speculate what a R/S would look like if it did happen. Tons of time dedicated to the potential of brown adipsose products & BRTX100. Manufacturing facility ready to go within 1Q. Not rushing to Phase 2 but they have a lot of the groundwork laid including agreements with vendors making it easier to begin quickly once funding is secured.
Honestly both Lance and Francisco presented very well and seemed very genuine.
The host of the channel actively sought him out to set it up. Also Discord has 300M+ registered users and the channels dedicated to OTCs are much more active then any of the boards.
There shouldn't be a video feed - it's just a voice chat channel. So if you joined Discord and made an account - then you have to follow the invite in the twitter page mentioned in the prior post here to get into the "channel." On the left side of your screen you'll see little icons of the channels you are subscribed to - this one has the image of a Tiger on it, click that. Once you're in that the box to the right of it will have buttons that say welcome, annoucnements, ask questions etc. IF you scroll down in that box all the way to the bottom you'll see "tiger voice chat." Click that to join the voice chat and that's where the conversation will take place.
Your post was made at 1AM EST, Thursday. So when you said tomorrow you meant Thursday (today) but for those looking at your post in EST it could be misinterpreted as tomorrow meaning Friday since you technically posted on Thursday EST.
Not a knock, thank you for posting it but just for clarity to those who ran into that issue as I did - the Q&A is indeed today, Thursday 20th at 4PM.
There's not much more DD to be done. They're current, approved for Phase 2, currently expanding their manufacturing facility to provide for the Phase 2 etc. The question which everything hinges on, which you will not find an answer to until it's announced, is will they get the funding needed to complete Phase 2 and how they will go about getting said funding. The product is clearly effective and seems to be both cheaper and more effective then existing similar technologies. It's also in use in countries outside of the US.
As for the 2 views - this as all OTC's are pure gambling. So either side of the coin is valid until the above does or does not happen. At that point 1 of the views are correct and until then both are valid.
As for me, compared to most OTC's this one seems to have a lot of positive factors involved so that's what I'm betting on.
"Auctus is required to loan to the Company, as needed and subject to the Company becoming current in its SEC reporting obligations, an additional amount equal to $3,500,000, less the amount of Auctus’ DIP financing ($1,226,901, inclusive of accrued interest) and its DIP costs."
Sounds like a little bit north of $2M.
Why was it assumed getting current was the catalyst? I thought the catalyst is building the manufacturing facility and launching a Phase 2 trial. Getting current was the bare minimum needed to be done in order for that to happen. It's just making up for missed filings and coming out of bankruptcy it wasn't going to be pretty filings. BUT they can now look to raise the needed funds. Getting current on missed, crumby financial statements should not rocket PPS.
Oh I'm with you! I've been in quite some time and am holding for the long run.
Either one of these are possible - but isn't that the gamble of the stock and trading OTC? It's a bet on will they get current, will they get funding, will they run successful trials and commercialize, will they up-list, will they R/S to do any of this, will they get suspended, will they have to liquidate. It's just gambling.
Few tidbits from the Q - not sure if this has been up here or how dated it is so apologies if this is common knowledge.
Nickolay Kukekov as Director:
Columbia PHD Neuroscience and has been doing Healthcare Investment Banking for 15 years
Product I personally didn't know about:
"We have licensed a patented curved needle device that is a needle system designed to deliver cells and/or other therapeutic products or materials to the spine and discs or other potential sites. We anticipate that FDA approval or clearance will be necessary for this device prior to commercialization. We do not intend to utilize this device in connection with our contemplated Phase 2 clinical trial with regard to BRTX-100."
Re: Trial -
"We anticipate that the costs to commence and complete our Phase 2 clinical trials with regard to our Disc/Spine Program will be at least $12,000,000. In addition, we anticipate approximately $45,000,000 in additional funding will be needed to complete the clinical trials using BRTX-100 (assuming the receipt of no revenues). As noted above in “Availability of Additional Funds” we secured additional funding as part of Chapter 11 reorganization in the aggregate amount of $5,037,961 as well as approximately $14,700,000 in outstanding debt and other liabilities being exchanged for (a) shares of common stock, (b) new convertible notes or (c) new convertible notes and warrants to purchase shares of common stock. Additionally, pursuant to the plan of reorganization, Auctus is required to loan to us, as needed and subject to our becoming current in our SEC reporting obligations, an additional amount equal to $3,500,000, less the amount of Auctus’ DIP financing ($1,226,901, inclusive of accrued interest) and its DIP costs. As a result of the above, we have sufficient cash to fund operations for the twelve months subsequent to the filing date."
New to the stock - has there been any detailed projections of what the value of this stock could grow to?
Thanks Pro-Advisor - I've always appreciated your posts.
He hardly has enough shares to make that worth while at the moment. Additionally, from a career standpoint it would be his last CEO role if he took the role and 2 months later sells off his shares an drives to company into the ground. If he can get the financials to date (which external accounting firms will be doing) and then successfully launch a Phase 2 trial on a drug that was already approved - not only does he stand to make a ton of money but he would then be a CEO that took a company out of bankruptcy and turned them into a viable company. If he gets them uplisted and maybe even launch a product - he can become a MVP biotech CEO. What your saying just doesn't make sense.
Amen to that.
Also while they don't have to had had the first financial out they said it would be out by the end of Feb - so they missed that date. There are no repercussions to that other than investors losing faith.
There were a ton of new retail investors who got in on this with tons of shares before they got out of bankruptcy at a very low price. Plenty held and could be selling now with this downturn because they turned the profit, missed the last 4/5c window and aren't willing to wait. Lance doesn't have enough equity for it to be worthwhile for him to sell off now. As far as sub penny OTC's go this is one of very few I can think of that have active communication, an actual location, a product approved for Phase 2, can be contacted, has a CEO that replies, has employees! etc. - it's all a gamble thats what OTC trading is. If it turns out it's informed money getting out so be it but I just don't think it is.
And if you accept the risk and this gamble - then the lower this goes right now is just more opportunity to load up with small investments. We will know in 1 month if the gamble was worth it. The product stands on it's own merits and I have faith in Lance personally so I'm in and holding.
I don't understand how people don't understand they need to be current on their financials to trigger the funding for the trials as per the BK dealing. They have until the end of March and then 15 day extension - so April 15th to do that. Right now regardless of the ups & downs this stock is hinging on those filings coming out on time. So long as they do that then they can focus on trials. Any dates out there related to trials are irrelevant & speculation. The only date right now is April 15th. If they aren't current by then then this is worthless - that is the current gamble. After that it's prep for trial (which they might already be doin), launch of manufacturing facility(where that money will be spent) and then trial results which is a much longer time table. All those things and more are small catalysts along the way to ultimately an FDA approval being the big slamma jamma. None of that happens until they are current on financials. The other Brown Fat product can also start gaining momentum this year. So it's a long-hold, the price will bounce back and forth based on factors from them leaving bankruptcy - but nothing else matters other than them getting current by April 15th.
I'm pretty sure they're obligated to get their first statement submitted by end of February - which means this weekend
Our first priority is to become current with our SEC filings. Our latest filed periodic report is the September 30, 2019 10-Q; therefore, we will need to file our 2019 10-K, our 2020 10-Qs and our 2020 10-K (which is not due until March 31, 2021).