Followers | 375 |
Posts | 16969 |
Boards Moderated | 4 |
Alias Born | 03/07/2014 |
Tuesday, May 27, 2014 2:09:58 PM
BHRT, over many, many yrs, has "signed deals/agreements" with so called "experts" who "were" supposedly going to get them "financing". Here is just ONE example of many. There are lots of them going clear back to 2009/2010, and other than "dilutive share selling" used as "financing", none of them ever came true. IMO, "CASSEL" is nothing "new", and is more of the same old.
For example:
"SUNRISE, Fla., Jan. 30, 2012 (GLOBE NEWSWIRE) -- Bioheart (OTCBB:BHRT.OB - News), a leader in developing stem cell therapies to treat cardiovascular diseases, today announced that Frank Young will join Bioheart to be a financial consultant. Young will provide financial oversight of the company's capital fundraising efforts and cultivate relationships within the financial and health care communities to support Bioheart's business goals.
Young previously served as chief financial officer (CFO) with Bioheart from 2003 to 2005. He has more than 30 years' experience launching and managing venture-backed companies in the technology and health care industries.
"Frank's entrepreneurial spirit and successful fundraising strategies, combined with his previous accomplishments at Bioheart, make him an ideal fit for Bioheart," said Mike Tomas, Bioheart's president and CEO. "Frank has a proven track record launching, managing and financially advising numerous companies across the healthcare industry."
Previously Young worked as CFO with CURNA,a health care company known for its discovery of new therapeutic compounds. He engineered the sale of the company in fewer than two years for more than five times the invested capital. He also worked as CFO with Mitral Solutions and Hyperion. As CFO with Bioheart, Young assisted in raising more than $9.5 million from investors in addition to negotiating international manufacturing arrangements and joint ventures. "
http://globenewswire.com/news-release/2012/01/30/466536/244075/en/Frank-Young-Joins-Bioheart-as-Financial-Consultant.html
Whatever happened to "Frank Young"?
NEVER amounted to any "financing" deals, other than dilution using firms like ASHER and similar. It was a great sounding "PR", and there's many just like it, all referring to a "team" or "experts" being "brought in/on board" for supposed "financing"
2) "-In January ASHER came in and paid the over head for the next 8 months of the bills for BHRT with an $860,000 advance taking back "
When? When did ASHER put up $860K in Jan to "pay the next 8 months worth of bills" with an "advance taking back"? I don't even know what an "advance taking back" is or means??
a) $860K is not even close to BHRT's 8 month "burn rate"- they spend a whole lot more than that on just monthly "expenses". Their monthly SG&A "expense line" for just Q-1, 2014 was $838,329.(Latest 10-Q, PAGE 5, expense line entry, balance sheet/statement of operations). That's a cash use/burn rate of $838,329/ 3 = $279K a MONTH. JUST SG&A. Not interest on their debt, not R&D, etc, JUST SG&A. That alone would be 8 months X $279K = $2.2 MILLION needed.
b) The only money that ASHER put up in Jan, or yr 2014, according to the 10-Q is the following:
Latest 10-Q, PAGE: 14
"Asher Notes (During this year)
During the three months ended March 31, 2014, the Company entered into a Securities Purchase Agreements with Asher Enterprises, Inc. (“Asher”) or affiliates, for the sale of 8% convertible notes in aggregate principal amount of $97,500 (the “Asher Notes”)."
That is IT for "ASHER" in yr 2014. They never put up any $800K "to pay the bills for x number of months". They did ONE, "financing deal" in 2014 it appears (as of the release of the 10-Q, the one deal we know of to date), and did it for $97,500.
c) As recent as Feb, 2014, BHRT did another "toxic financing" deal w/ a firm named Daniel James Mgt for $35K, so obviously, IMO, their "bills were not paid for 8 months"?? They were so low, desperate for CASH, they gave a 47% discount on the shares and for a lousy, $35K total cash. That was as late as FEB 2014? Their "bills are not paid for 8 months"?
Latest 10-Q, PAGE 15:
"Daniel James Management
On February 19, 2014, the Company entered into a Securities Purchase Agreements with Daniel James Management (“Daniel”) for the sale of 8% convertible note in principal amount of $35,000 (the “Daniel Note”).
The Daniel Note bear interest at the rate of 8% per annum with all interest and principal due February 28, 2015. The Daniel Note is convertible into common stock, at holder’s option, at a 47% discount to the average of the three lowest closing bid prices of the common stock during the 10 trading day period prior to conversion. The Company has identified the embedded derivatives related to the Daniel Note. These embedded derivatives included certain conversion features and reset provision."
The firms that "short" BHRT are not "retail", they are the very firms that do the convertible share financing with them/for them, and there is nothing "illegal" about it. It's "routine" for firms like "ASHER" to take up short positions in stocks for which they hold "convertible" shares.
Here's an entire I-HUB created page, that explains in great detail what ASHER does, how they do it, and why they are typically the demise of any company that uses them for "toxic/death spiral" type of survival financing.
http://investorshub.advfn.com/~-ASHER-~-25451/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68247638
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM