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Monday, March 16, 2015 5:09:22 PM
Once again, the "big PR", the "big announcements" the "big blah, blah" and then GONE. How long did that one last?
What's more troubling- is that was supposedly IMO (from reading all the PR "stuff") they put out about it- that was supposedly how they were gonna suddenly sell all these "things" and make revenue and what not? No? So with THREE PEOPLE left and no marketing or sales force or whatever- who's doing all the selling now? Wasn't that the entire purpose the ole "Global Stem Cell Group" partnership and all? They even paid those guys some stock or warrants and stuff- I'll post the prior SEC filings and PR's all about it below.
So, another "big partnership" blah, blah is GONE, like nearly every other one I think I've ever read about these guys- in old PR and whatnot. Was it ever even "real" then in the first place (remember the South Africa PR "partnership" and then the next SEC filing, oops- no deal, no real business entity established, nothing really actually happened, no legal docs or biz contract ever really signed, etc?)- sounds like another one of those IMO. Just another "big deal" all talked up in PR and now GONE.
Heck, if I remember- and I can check the Florida Secretary of State business search site- I thought the "Global Stem Cell Group", at least part of it even moved into the Bioheart same address as the "headquarters" and then also into another suite in the same building- I remember reading it in the LLC filings (for all these sub companies like Regenestem and Adimarket, etc if I'm correct. And Global Stem Cell Group even had Bioheart "adipocell" kits for sale on their Adimarket web site and now they're gone?)
Latest 10-K, just filed, PAGE 11 (just kinda slipped it in there as a little one line, you no, no big deal they just canceled a MAJOR PARTNERSHIP that IMO probably never really was, oh well?)
"Adipose-stem cell therapies
We previously partnered with the Global Stem Cell Group to market and make available our AdipoCell adipose derived stem cell therapies to all doctors across the U.S. and in foreign markets. On November 26, 2014, we terminated our relationship with Global Stem Cell Group."
But wait, what did those great sounding PR say about this "partnership"?
http://www.bioheartinc.com/assets/press/globalstemcell.pdf
Or this one:
http://finance.yahoo.com/news/bioheart-announces-agreement-global-stem-131629865.html
Or this one- the ole COPD blah, blah "trial" or something:
http://www.biospace.com/News/global-stem-cells-group-inc-and-bioheart-inc/323058/source=MoreNews
Or this one- the "accredited training" blah, blah "partnership" with ole Global Stem Cell Group
http://www.4-traders.com/BIOHEART-INC-2973332/news/Bioheart--Global-Stem-Cells-Group-Announces-Accredited-Online-Stem-Cell-Training-Course-18541664/
Well, looks to be all OVER, GONE now? No PR or explanation? What?
Here was the SEC filing about the ole "agreement" they did once again (always "agreements" or similar wording- are those like hand-shake deals I wonder or what? They sure never seem to last IMO. So that was what, not even a yr maybe with the Global Stem Cell Group thingy- whatever it was?)
From the last filed 10-Q, PAGE 23:
"Revenue Share Arrangement
On March 10, 2014, the Company entered into a revenue sharing (the Agreement) with Global Stem Cells, Group, LLC and its subsidiaries whereby both parties will participate in marketing for obtaining patients and provide physician training for stem cell treatments under the names of “Regenestem” and “Stem Cell Training”, respectively. In addition, each party will be responsible for selling equipment and kits to existing and previous customers. A fee will be paid to Global Stem Cells Group based on revenue less certain costs of the accounting for patients and physician training and 30 day with sales of equipment and kits.
As part of the consideration of Global Stem Cell Group, LLC’s participation, the Company issued an aggregate of 8,000,000 warrants to purchase the Company’s common stock for four years at $0.0217 per share with 2,000,000 warrants vesting 90 days from the effective date, 2,000,000 vesting on each anniversary date for three years. During the three and nine months ended September 30, 2014, the Company charged $15,762 and $95,018 to current period operations for the vesting portion."
Wow, sounded pretty "impressive" I guess? So why's it GONE now?
Or this from the last years 10-Q filing, period ended June 30, 2014 PAGE 22:
"Joint Venture Agreement
On March 10, 2014, the Company entered into a profits sharing agreement (the Agreement) with Global Stem Cells, Group, LLC and its subsidiaries whereby both parties will participate in marketing for obtaining patients and provide physician training for stem cell treatments under the names of “Regenestem” and “Stem Cell Training”, respectively. In addition, each party will be responsible for selling equipment and kit to existing and previous customers. Profits are divided on a fifty/fifty basis with distribution within 10 days of the accounting for patients and physician training and 30 day with sales of equipment and kits.
In consideration of Global Stem Cell Group, LLC’s participation, the Company issued an aggregate of 8,000,000 warrants to purchase the Company’s common stock for four years at $0.0217 per share with 2,000,000 warrants vesting 90 days from the effective date, 2,000,000 vesting on each anniversary date for three years. During the three and six months ended June 30, 2014, the Company charged $71,532 and $94,078 to current period operations for the vesting portion."
So, if this was supposedly their big U.S. "marketing" channel and international "marketing" channel for all this selling of "stuff" and of "training" and what not- but now it's NO MORE, GONE, ENDED etc? Then how is BHRT "selling" and doing all this "marketing" and what-not now with THREE TOTAL EMPLOYEES, etc? Who or what replaced the ole "Global Stem Cell Group" big ole partnership, split those "profits" 50-50 and all the rest in those SEC filings above?
Does ANY "partnership" or "agreement" these guys do EVER actually last and continue to function as originally described in their PR and whatnot? WHY NO PR THAT THIS PARTNERSHIP ENDED? WHY NO SEC FILING? Seems like kinda a pretty major "material event" IMO? You just end a supposed "major partnership" for which you issued PR and stock and warrants and whatnot- and it gets buried as a one-liner in the 10-K that it's OVER?
Again, how does that "work" exactly? I'm confused I guess?
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