"They're waiting on funding that's why"?
They've been "waiting on funding" for at least several yrs, if not more? Want link to all the PR and other statements, going back yr of "funding" that was "about to materialize" or that they were "waiting on"? I can post a lot of links if it will help?
Or can post all the 10-Q/10-K statements going back several yrs, saying (paraphrase), "we need substantial more funding and are attempting to get it" and/or the "going concern" portion of each SEC 10-Q or 10-K saying that funding is critical and that they are in risk of default or ceasing operations of meeting even day to day "funding" needs? I can cut and paste or post links to those if needed- since those facts seem to be "missed", IMO?
What is new about "waiting on funding"? What implication(s) is there that anything is different at this moment in time? Don't get the point, IMO? There seems to be some attempt to imply that some imminent, "large" funding is lurking out there "this time" -but IMO and as far as I can tell, it's nothing more than made-up statements by people who can't or couldn't possibly know if that's true or not? Unless they had/have insider trading information? There was nothing in the 10-K or anywhere else IMO that indicates some "imminent" big "funding" is out there? I'd argue the opposite, they, BHRT posted a quite, "dire" warning again in this 10-K, that their cash position was not even sufficient to "meet IMMEDIATE" needs, and that "substantial" funding would need to be obtained, or XYZ will happen. They then did "Asher" deals, typical of Asher deals they done many, many times before- and they did um right up until late Feb 2014, and for a grand total of $100K bucks. A $100K doesn't even last BHRT a month at their stated cash use rates (see latest 10-K)?
Latest 10-K, PAGE 25: (WHY is this statement in the document?)
"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."
