Friday, March 06, 2015 3:04:29 PM
The Swink Connection
The man behind the company is no stranger to controversy himself. Jim Dale Swink Jr., who controls about 54 percent of the company's stock, was convicted in 1993 of conspiracy and other charges related to an allegedly fraudulent bond deal at Swink & Co., a bond house owned by Swink's father that collapsed in 1989.
The conviction was overturned in July 1994 by the Eighth Circuit United States Court of Appeals.
Swink, who didn't return repeated phone calls seeking an interview, doesn't hold an executive position at the company or a spot on its board of directors, but he does keep an office at Cytomedix's Little Rock location. And he's called the shots on many of the changes made at the company.
As president and sole owner of BDR Consulting Inc., he has voting control over more than 5 million of the company's shares as part of a voting agreement with various investors. It's unclear just how many shares Swink personally owns, but BDR Consulting Inc. owns nearly 240,000 shares of the company.
BDR also has a consulting agreement with Cytomedix to provide financing and business assistance to the company. The arrangement pays BDR between $6,000 and $20,000 a month, depending on the company's previous 12-month revenues. Right now, that agreement should pay out the minimum $6,000.
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