LOL, the ole PR - what a surprise. CLOSED SOLID RED.
Bid .0088/ Ask .009 (dropped the Ask, looks like PR isn't going over too well IMO) Trying to "Paint the tape" with few shares at .0099 at end of day, still SUB ONE CENT, big a whoop, it still couldn't hold even .0099
0.0088 / 0.009 (129498 x 278000)
The rose colored ole "PR" IMO kinda-sorta LEFT OUT THE "little" tid bits about the LARGEST LOSS FORM OPERATIONS since before 2010, biggest operational loss since even 2010.
Their LARGEST LOSS FROM OPERATIONS in FIVE YEARS:
From their 10-K filings going back 5 yrs to 2010
NET LOSS FROM OPERATIONS (parenthesis is a LOSS, this yr was the LARGEST LOSS IN THE PAST 5 YEARS OF OPERATIONS, despite enormous amounts of toxic convertible debt deals, Magna financing and the "revenues"- they out-spent it all to take their largest LOSS FROM OPERATIONS going all the way back to 2010)
NET LOSS FROM OPERATIONS:
2010 (3,266,030)
2011 (2,665,884)
2012 (2,534,843)
2013 (2,841,750)
2014 (3,529,452)
Most recent 10-K, just filed- their largest operational LOSS checking all 10-K filings back to 2010 when Tomas took over as CEO.
That $3.5 MILLION NET LOSS FROM OPERATIONS is bigger than any loss from operations going back through every 10-K to year 2010.
The "PR" "net loss" claim is ONLY because of a ONE TIME settlement on a debt they had forgiven, but did not pay back. It fails to show their increased LOSS FROM OPERATIONS, which is more indicative IMO of actual lack of internal cash being generated, aka a REAL LOSS, not a paper reduction from a one-time "debt forgiveness". Big, big difference.
Their expenses have exploded- outpacing any cash coming in from continual dilutive toxic financing deals or bottom line "revenues" after cost of sales. They finished the year, 2014 with only $36K total cash left on-hand, one of their worst years since 2010. They are in horrible financial condition IMO and their auditor's own "GOING CONCERN WARNING" states just that IMO.
BHRT's "general and admin" expense line more than DOUBLED in the past 1 yr. (to $4,669,432 for 2014, PAGE F-4 of 10-K, for a company now of just THREE PEOPLE per their own 10-K verbiage) And that's despite spending almost nothing on R&D, conducting no major clinical trials such as an FDA Phase 3 or similar, and reducing their headcount to just THREE employees left according to the 10-K filing itself.
Definition of NET LOSS FROM OPERATIONS or "operational losses" from Investopedia:
"DEFINITION OF 'OPERATING LOSS - OL'
The net loss recorded as a result of a company's unprofitable operation, considering only the company's operating income versus its operating expenditures. An operating loss does not consider the effects of interest income, interest expense or taxes, but in some cases includes depreciation expense. A company which consistently generates operating losses will require outside financing in order to avoid bankruptcy."
Most recent 10-K filing PAGE 56:
"At December 31, 2014, we had cash and cash equivalents totaling $36,674; our working capital deficit as of such date was $10,957,443. Our independent registered public accounting firm has issued its report dated March 16th, 2015 in connection with the audit of our financial statements as of December 31, 2014 that included an explanatory paragraph describing the existence of conditions that raise substantial doubt about our ability to continue as a going concern."
Most recent 10-K filing PAGE 27:
"Our independent registered public accounting firm has expressed substantial doubt about our ability to continue as a going concern.
Our independent registered public accounting firm issued its report dated March 16th, 2015 in connection with the audit of our financial statements as of December 31, 2014, which included an explanatory paragraph describing the existence of conditions that raise substantial doubt about our ability to continue as a going concern. In addition, our note to our financial statements for the year ended December 31, 2014 included an explanatory paragraph describing the existence of conditions that raise substantial doubt about our ability to continue as a going concern. If we are not able to continue as a going concern, it is likely that holders of our common stock will lose all of their investment. Our financial statements do not include any adjustments that might result from the outcome of this uncertainty."
Funny how that ole PR just manages to leave out those choice little morsels of FACTS, eh? The ole "selective" PR IMO. No surprise though to me. None.
Any "PR" about ending a fiscal yr with $36 TOTAL CASH ON-HAND left in their bank account- less than in 2013? LOL. Or how bout any PR about using qty-3, THREE MORE toxic debt, convertible financing deals as recent as one month or so ago- for pittances of survival cash like $38K or $25K, etc. PAGE F-34 of the just filed 10-K: (oops, MISSED THAT IN THE OLE "PR, eh?)
"Subsequent financing
On January 7, 2015, the Company entered into a Securities Purchase Agreement with KBM Worldwide, Inc. (“KBM”), for the sale of an 8% convertible note in the principal amount of $38,000 (the “Note”).
The Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on October 9, 2015. The Note is convertible into common stock, at KBM’s option, at a 45% discount to the average of the three lowest closing bid prices of the common stock during the 10 trading day period prior to conversion. In the event the Company prepays the Note in full, the Company is required to pay off all principal, interest and any other amounts owing multiplied by (i) 140% if prepaid during the period commencing on the closing date through 179 days thereafter. After the expiration of 180 days following the date of the Note, the Company has no right of prepayment.
On January 28, 2015, the Company entered into a Securities Purchase Agreement with Fourth Man, LLC., for the sale of an 9.5% convertible note in the principal amount of $25,000 (the “Note”).
The Note bears interest at the rate of 9.5% per annum. All interest and principal must be repaid on January 27, 2016. The Note is convertible into common stock, at Asher’s option, at a 47% discount to the lowest daily closing trading price of the common stock during the 10 trading day period prior to conversion. In the event the Company prepays the Note in full, the Company is required to pay off all principal at 150%, interest and any other amounts.
On February 19, 2015, the Company entered into a Securities Purchase Agreement with Vis Vires Group, Inc. (“VIS”), for the sale of an 8% convertible note in the principal amount of $38,000 (the “Note”).
The Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on November 23, 2015. The Note is convertible into common stock, at VIS’s option, at a 45% discount to the average of the three lowest closing bid prices of the common stock during the 10 trading day period prior to conversion. In the event the Company prepays the Note in full, the Company is required to pay off all principal, interest and any other amounts owing multiplied by (i) 140% if prepaid during the period commencing on the closing date through 179 days thereafter. After the expiration of 180 days following the date of the Note, the Company has no right of prepayment."
Good ole "PR", LOL !! Too funny IMO. But expected.
