Well, it doesn't "exactly" say that, "Bioheart announces a reduced debt of $2,000,000.000"??
It's a SEC 8-K filing. And what it says, verbatim is the following:
"Item 1.02 Termination of a Material Definitive Agreement."
(THAT is the title of what this filing refers to/is discussing- the terminating of a previously entered into, "material" agreement. What many I suppose in the biz world would call a "contract" or "contractual arrangement")
This 8-K then goes on to make the following statement and nothing more- and nowhere do the words "Bioheart announces a reduced debt of $2,000,000.000" appear, unless my English language reading skills are failing me?
8-K filing, remaining body-text verbatim language says:
"In June 2000, we entered into an agreement with William Beaumont Hospital, or WBH, pursuant to which WBH granted to us a worldwide, exclusive, non-sublicenseable license to two U.S. method patents covering the inducement of human adult myocardial cell proliferation in vitro, or the WBH IP. The term of the agreement is for the life of the patents, which expire in 2015. We did not use this license in any of our technologies. We have not made any payments to WBH other than the initial payment to acquire the license. On April 2, 2014, the Company received confirmation that it has no obligation under the patent license agreement and WBH agreed to terminate the patent license agreement.
Accordingly, the Company will recognize approximately $2,100,000 in settlement of debt which represents the accumulative accrual and related interest from past years under the 2000 patent license agreement.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized."
It's then signed by the company CEO and that's it. End of wording.
