There's those perfect, round lot sell blocks- 2 more at 200K and then 300K shares, like clockwork. Just sunk the bid back down to .0121.
Looks like the PR hype thing ran out of gas in the tank- when up against the reality of the massive share dilution and the convertible debt boys- the share price crushers.
Just too much massive dilution IMO. 100's of millions of shares issued out in less than 1 yr. A lot of those to convertible debt folks like Asher, Daniel James, Fourth Man and now the infamous Magna being on-board as the main finance house to BHRT. Magna the crusher as known in penny-ville legend.
BHRT already used the Magna "note", we know that from the SEC filings- the $200K "note" with the $300K face value (screwiest financial product I've ever seen or heard of, but that's just me) - but they used that and it's good to Magna for about 31 million shares.
Then the Magna "credit line" instantly gave Magna 9 million more dilutive shares just in up-front "fees" w/ a potential 15 million for in possible "fees/expenses" to Magna. That would be about another 9 million min and as much as 24 million more shares there. So that's about 40 million shares to Magna on the low side- all for $200K lousy survival bucks of cash- not even a fraction of the recent cash bonus awards ($800K in bonuses to two people, see last 10-Q SEC filing), huge "cash" bonuses just two people of 4 total "full time employees" in the company.
Then, if BHRT were to have "tapped" that Maga credit line- who knows how much dilution might have happened- especially if Manga used the "conversion formula" or "true up" date - whatever it's called in the prospectus, and did it near the low of .007 or anywhere under 1 cent a share.
Say BHRT went to Magna for $500K bucks- again, just a few months survival cash at most, and not even enough to pay the $800K in cash bonuses owed.
At 1 cent, that's 1 cent X .93 = .0093 a share that Magna pays.
$500K/ .0093 = 53,000,000 more dilution shares to Magna. 53 million.
So in the course of just a month or two- it's possible that Magna would have gotten somewhere in the range of 40 million + 53 million + as much as 15 million more shares = about 100 MILLION pure dilution shares all for giving BHRT maybe about $700K bucks, just a few months of survival cash, and not even enough to pay the $800K "bonuses" awarded to the two insiders- and then issued as "promissory notes" as BHRT has no cash to pay those "cash bonuses" (finishing last qtr with $46K total cash on-hand for their own 10-Q filing, see 10-Q for bonuses "promissory notes").
That's the reality IMO of what massive dilution does. 100 million shares in perhaps a month or two issued to Magna, and it doesn't even bring in enough to pay a few months bills, let alone fund "trials" or anything of that sort. Let alone all these new legal bills per this recent large lawsuit they're now defending and all.
Tough sledding ahead IMO, the dilution machine is going to be an ever present, constant down force to be dealt with the way I see it. I don't see any other way around the reality of that?
BHRT filed for $3 million from Magna and stated in the documents they plan to "tap" and use every last dime of that. That's going to be a staggering (more than the already staggering) amount of dilution going forward. I bet they hit 1 BILLION fully diluted shares O/S pretty darn quick here- like by mid yr probably IMO.
