US Stem Cell Inc (USRM)

[Dragon Lady]

Another "PR", another "conference" to attend?

With only 4 "full time" and one "part time" employee, IMO, gotta kinda wonder when any actual "research and development" type actual "work/lab research" or similar, critical activities are getting done? (two of the 4 employees, appear to spend a great deal of their time being gone and "speaking" or "attending conferences" or similar IMO?)

Appears vol drying up again, big time, and spread is WIDE OPEN again. It's like a 8% to 10% spread from bid to ask. Bid is .0256 and ask is .0275. Long periods where it's just "sitting"- not a single trade going through. One small buy order (maybe $500 worth) makes it look "up" like 5% on the day, cause the spread is huge.

How much will just the " Mediterranean " conference and now the "London" conference travel/attendance cost, for a company that spent a grand total of about $3K a month, for "research and development" in Q-1, per their 10-Q filing?

10-Q, PAGE 5: Balance sheet entry:
Research and development 9,857 (total for Q-1, 2014)

That's $9,857 /3 = $3,285 per month, total "research and development" spent, Q-1 2014. Wow, IMO. (would that even pay for one "conference" trip?) But it's supposed to be "funding" FDA type phase II/III trials, which would be part of that "Research and Development" expense entry on the balance sheet?

Just the "base" salaries for what are called two "key" employees, 10-K, for end of 2013, just those "base" salaries (not including bonuses), far, far exceed the total "research and development" budget/expenses for Q-1, 2014?
From 10-K, yr ended 2013, PAGE 71 (these were huge increases over 2012 by the way, like a 50% increase in just the "base" salary and "total" compensation was essentially "tripled" for just these two - see the table, page 71 of the 10-K filing)
Base salary Mike Tomas: $391,667
Base salary Kristin Comella: $159,167

So, that's $391K + $159K = $550K / 12 = $45K PER MONTH, "base salaries", for those two "employees".

So,
Total "Research and development" spending per month, Q-1, 2014
$3,285 per month
$45,000 per month, "base salaries" for TWO of the four full time employees.

Again, IMO, makes zero sense to me. This is supposed to be a "medical research and development" company, according to their own statements on their web site, SEC filing and similar. Their monthly rent on a relatively small, "office suite" headquarters is about $5K a month per their 10-K filing. The "rent" exceeds their "research and development" spending, while supposedly working to advance FDA type phase II/III trials? That is amazing IMHO.

Makes ZERO sense IMO? MIRROR, the word or the trial was not mentioned one time in the latest 10-Q that I could find? But then again, if one is spending a grand total of $3,285 on "research and development", of which "trial expenses" would be a part of that entry per my understanding, I guess it's easy IMO, to see why "MIRROR", the "big Myocell flagship phase III trial" just seems to have vanished?

Regarding the "ischemia" article- Bioheart is not even mentioned in it, anywhere. It in fact specifically mentions using equipment/process from "Ageless" - which is Dr. Sharon McQuillan's (M.D.) company? It has no ties any longer to BHRT as far as I'm aware?
http://www.cureus.com/articles/2376-autologous-adipose-derived-stromal-stem-cell-implantation-to-resolve-critical-limb-ischemia-case-report

As far as I'm aware (see BHRT 10-K for 2013), Bioheart has severed all ties with "Ageless" and dumped "Lipocell" (licensed from Ageless) and is now using "Adipocell" licensed from a totally different company?

Last 10-K, PAGE 3:
" In August 2013, the Company canceled its license agreement with the Ageless Regenerative Institute for adipose derived stem cells called LipiCell. Bioheart has entered into a term sheet agreement with Invitrx to License their adipose derived stem cell products. Bioheart has changed its adipose derived stem cell product name to AdipoCell. "

From the linked, "ischemia" article about the Mexico "procedure"-
"We obtained about 240 cc of adipose tissue, which was then taken to the hospital cell lab for processing. Enzymatic digestion was carried out using Adipolase™ (Ageless Regenerative Institute, Florida), centrifugation for separation of stromal vascular fraction, and filtration and washing of the sample. "

Again, that (Ageless), as far as I'm aware is the company/technology of Dr. Sharon McQuillian(M.D., Florida). Bioheart, as far as a search revealed, does not occur anywhere in the article cited?
http://www.agelessaestheticinstitute.com/aai-doc.html
So, not sure how that "ischemia" procedure shown in the link (done in Mexico) has anything at all to do with Bioheart, as in, "This is another amazing and effective product of Bioheart's"??
It doesn't mention "Bioheart" as having had anything to do with the "procedure" that I could find in the article?

It's also "fascinating" to say the least, IMHO, when BHRT has "BIG PR" but later, one just never seems to hear of it again, or it never, almost never IMO, ever seems to amount to much later on? This is a common "pattern" of "PR" for them IMO.
Example (and there are numerous I can point out): Here is a "PR" about BHRT "breakthrough" on "ischemia" using "fat derived" (Adipose) cells- clear back around 2009/2010 or so, as "Groth" was CEO in the "PR". Note, it states it's the "FIRST TIME" this "breakthrough" technology is in use, etc, etc.
http://www.ascrnetwork.com/index.php?option=com_content&view=article&id=1967:bioheart-makes-breakthrough-in-stem-cell-treatment-for-critical-limb-ischemia553&catid=91
Quote from "PR" 2009/2010:
"BIOHEART MAKES BREAKTHROUGH IN STEM CELL TREATMENT FOR CRITICAL LIMB ISCHEMIA" (notice, BREAKTHROUGH). Wow, sounds "big", IMO?
"Bioheart, Inc. (OTC Bulletin Board: BHRT) offers yet another medical breakthrough with the next-level stem cell treatment for critical limb ischemia "
"The Bioheart adipose derived stem cells treatment "ASCs Treatment":" and
"Bioheart, in collaboration with University Hospital Ostrava in the Czech Republic, has already begun treating patients with critical limb ischemia utilizing ASCs. "

But, that was 2009/2010? What happened? Look at the stock price, the dilution, the collapsed market cap from then? Also, that CEO was fired, as was many of the BOD from that time period, as was most of Sr. Mgt and nearly all employees they had then? It was a BREAKTHROUGH though? Why did no investor or money come forward or was it never "monetized" or ever reach an FDA approval or similar? A BREAKTHROUGH? That's what I just "don't get"? The stock price from then is straight down essentially, the financial condition of the company became worse and worse, still to this day, etc. Why? Why, if it's a true "BREAKTHROUGH" does it never amount to anything?

So, this latest "link" shows "ischemia" being described as a "treatment" in Mexico, and Bioheart is not even mentioned in it at all, that I can find? But Bioheart said back in 2009/2010 that they were undertaking what sounded like "huge plans" for "ischemia" and "adipose cells" and all- but whatever became of all that? Where was any follow up "PR" to all that "stuff" being done in the Czech Republic? I never understand how these "big PR's" just never seem to have any follow-throughs, or pan-out later, or produce long term, actual "results" it seems, IMO? But now a group in Mexico is linked, but Bioheart doesn't even appear involved, but "Ageless" and the equipment/processes of Dr. McQuillian are?

The "World Stem Cell Congress": was described as, "The World Stem Cells & Regenerative Medicine Congress is a HUGE international conference. "? Huge? "Huge" by what industry/trade show, "conference" standards?

According to their own web site, they had about 350 "attendees" at the last conference ("world") conference. Three hundred and fifty.
http://www.terrapinn.com/conference/stem-cells/attendee-list.stm

For contrast, these are a couple of "HUGE" (IMO) conferences in the medical or "other" trade show "fields": (BioHEART as in "heart")

American College Of Cardiology Total attend:19,094; Professional attendees:13,005
American Heart Association: Scientific Sessions total: 18,661
American Diabetes Association: Total 17,781

Biggest "medical" conferences by ranking/attendance:
http://www.hcea.org/?page=research_top50

Example of a couple of "non medical", major industry "conferences/gatherings/shows" just for some contrast:

The "NAMM" show, musician's annual (international) "conference/show" for their business, industry, equipment makers, etc: Total attendance was 95,000, last year.

The annual U.S. "Auto show" show/conference sessions" (international in scope): Total attendance: 803,000 in Detroit. (and Detroit/auto biz is considered "struggling" in this U.S. and even world economy right now)

So, IMHO, not sure that qty-350 or so people in attendance is a "huge", "international" conference by medical or any other "conference" or trade/industry gathering, well published conference/show standards? Seems rather tiny-tiny-tiny IMO, to be called a "world" conference and a "congress" and all? That's my opinion.