US Stem Cell Inc (USRM)

[Dragon Lady]

BHRT was delisted from the NASDAQ on about Feb. 26th, 2009.

BHRT went public on about Feb. 20, 2008 in perhaps one of the worst IPO's in at least recent stock market history according to the commentaries I have read about it, netting almost no money after fees (about $1.5 million net after fees, when the initial IPO PR said they were going to raise approx. $70 million, then they kept lowering their target price and amounts and changing underwriters), and that was despite the then CEO even buying up some of the IPO shares himself according to the news reported.

http://www.techjournal.org/2007/09/florida%E2%80%99s-bioheart-prices-ipo-to-raise-up-to-70m/

http://venturebeat.com/2008/02/20/bioheart-a-new-record-for-ipo-futility/

http://globenewswire.com/news-release/2009/02/26/393349/160467/en/Bioheart-Inc-Receives-Notice-of-Delisting-From-The-NASDAQ-Capital-Market.html

It means nothing IMO, and is a total empty argument that BHRT was the ONLY "bio-tech" of 2008, as there were many, many companies that successfully went public that yr, including several medical related companies such as Mako Surgical and CardioNet.

BHRT has essentially traded straight down for the most part since it's IPO date price of about $5.25 with a few bumps and "pops" along the way, but a max-chart will show a near straight-line down trend. I don't believe it ever traded, not even a single day above its IPO price. It rapidly collapsed and declined from the IPO date forward, ending the yr as the worst IPO of 2008 according to reports that track IPO's (see links), down about 85% by Jan of 2009 at .79 cents, and was then de-listed from NASDAQ shortly there after Feb. of 2009 or so. So it only lasted about one yr as a "listed" company on the NASDAQ and has been a "penny" stock ever since, by all standard definitions of a penny stock that I'm familiar with. It was delisted from NASDAQ as it could not meet their minimal financial and asset and share price requirements according to the press release about the delisting.

http://www.marketfolly.com/2009/01/how-some-2008-ipos-fared.html

BHRT is at bottom of the list in that link above, down 85% by early 2009, at 0.79 cents a share (from $5.25 IPO price) in one yr, and then delisted from the NASDAQ shortly thereafter.

BHRT has been in financial troubles, essentially going clear back to the IPO period and for the most part at all times since then if one would read their 10-K and 10-Q filings (going concern warnings, debt defaults, massive share dilution as in over 200 million shares in just the past approx. 1 yr alone).

For example of the massive dilution of the common shareholder, here is a share count taken from page 1 of their 10-K/10-Q filings:
As of February 28, 2010 was 20,489,444.

As of May 6, 2014, there were 466,396,016 outstanding shares

They have defaulted twice on key, major loans/debt, the first being the default of the large, "Bluecrest" loan/note and then the B of A loan going into default.
http://www.bizjournals.com/southflorida/stories/2009/01/12/daily50.html?page=all

That Florida business journal article said that BK was possible in 2009, only one yr or so after the IPO, as the Bluecrest loan went into default.

Then, in 2010, they defaulted again on a large loan/debt, the B of A loan.
http://www.bizjournals.com/southflorida/stories/2010/07/26/daily1.html

This company has been struggling and in serious financial trouble since pretty much the IPO date. There has been "talk" and "chatter" of supposed "imminent" so called "big financing" about to "happen" going back years, not months as was stated yesterday, I believe. "financing" supposedly being "close" has literally been talked about for years, per what I've read on chat boards and even in the company's own statements in PR releases about "term sheets" and "financing is close" etc. They never materialized to any degree that I'm aware of. They, BHRT, simply keep diluting and selling shares and using "ASHER" type convertible debt deals and similar, to keep month to month cash coming in. Their own 10-K's and 10-Q filings, will show that they often end a quarter or fiscal yr, with near zero cash on hand, one filing I read, actually had "zero" as the cash entry on their balance sheet, literally entered as -0-. Zero cash. Most of the time it's a few $hundred thousand or less at any time.

PR about "imminent financing" that never happened that I'm aware of or showed up in subsequent 10-K or similar filings as ever having been completed as stated in the PR:
http://www.marketwired.com/press-release/bioheart-receives-2-million-term-sheet-investment-offer-from-vitalmex-global-leader-otcbb-bhrt-1686526.htm

http://finance.yahoo.com/news/northstar-launches-20-million-private-113119817.html

http://www.hotstocked.com/article/20272/bioheart-inc-otc-bhrt-left-the-bottom-on-the.html

http://www.bizjournals.com/southflorida/news/2011/10/06/bioheart-raises-3m.html