LOL, quote "BHRT stock value will start growing briskly IMO and this is why!!! "
Based on the little "bullet point" ole "PR" glossy version versus the 10-K HARSH REALITY?? Makes no sense IMO.
Like sure, they cut their cash use and blah, blah when they HACKED their R&D spending by over $500K to near zero. Amazing IMO how cash use gets cut when a supposed, self proclaimed "medical research and development" company STOPS and CUTS nearly all it's R&D spending. (but hands out massive base pay increases and cash bonuses to just 2 people, of what's now a THREE person total company per the most recent filed 10-K. THREE total people- yep, that's the "big company" in total, with $36K total cash left on-hand end of yr 2014)
PAGE F-11, most recent filed 10-K:
"The Company has three full-time employees and no part-time employees. The Company is heavily dependent on the continued active participation of its two current executive officers, one employee and key consultants. The loss of any of the senior management or key consultants could significantly and negatively impact the business until adequate replacements can be identified and put in place."
From most recent filed 10-K, PAGE 55:
"
Research and Development
Research and development expenses were $66,420 in 2014, a decrease of $560,563 from research and development expenses of $626,983 in 2013. The decrease was primarily attributable to a decrease in the amount of available funds.
The timing and amount of our planned research and development expenditures is dependent on our ability to obtain additional financing."
Also, sorta left out the little FACTOID they ended the yr, 2014 with $36K lousy total cash-on-hand despite massive, massive share dilution- as in 100's of MILLIONS of shares issued for survival cash, but ended the yr near BK broke w/ only $36K total cash to their name.
PAGE F-10:
"Fully diluted shares outstanding were 668,063,786 and 344,241,761 for the years ended December 31, 2014 and 2013, respectively."
Over 300 MILLION shares diluted- but ended the year cash broke as always, despite the ole top line "revenues"
Kinda didn't mention their own auditor's GOING CONCERN WARNING either-
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."
Also sorta missed mentioning in that "PR" blurb- that they just did qty-3, THREE MORE "toxic" aka "convertible debt" (floorless) note financing deals as recent as Jan and Feb of 2015- just piling on dilution and then despite those qty-3 "notes" being needed, they also tapped the Magna credit line and added another 19 MILLION shares from just that "single draw" on top of all the other continual, non stop, on-going massive common share dilution:
PAGE F-34:
"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.
"
And PAGE 36:
"The sale or issuance of our common stock to Magna Equities II, LLC at a discount may cause substantial dilution and the resale of the shares of common stock by Magna Equities II, LLC into the public market, or the perception that such sales may occur, could cause the price of our common stock to fall.
"
PAGE 46:
" We paid to the Investor a commitment fee for entering into the Common Stock Purchase Agreement equal to $150,000 (or 5.0% of the Total Commitment under the Common Stock Purchase Agreement) in the form of 9,109,128 restricted shares of our common stock, calculated using a per share price of $0.016467.
On December 22, 2014, the registration statement of the shares underlying the Purchase Agreement and the Common Stock Purchase Agreement was declared effective by the Securities and Exchange Commission, thus, registering an aggregate of 143,812,591 shares of common stock. During the year ended December 31, 2014, we did not use the draw down on the equity line. Subsequent to December 31, 2104, we issued an aggregate of 19,288,783 shares of our common stock in exchange of $151,763 draw down on the equity line."
Or how bout about more than 50 MILLION more pure dilution shares already issued in just Jan/Feb 2015 for "paying bills" and misc "other stuff" - just share pouring out like water. DILUTION never ending - right in Jan/Feb of 2015 already.
PAGE F-34 most recent 10-K:
Subsequent stock issuances
In January 2015, the Company issued 4,783,568 shares of its common stock in settlement for services, provided 14,299,567 shares of its common stock in settlement of $49,500 of outstanding convertible notes payable, and $2,981 accrued interest and 2,096,450 shares of its common stock for net proceeds of $16,118 from equity drawdown under the Magna Purchase Agreement.
In February 2015, the Company sold an aggregate of 1,443,656 shares of its common stock for net proceeds of $16,270. In connection with the stock sale, the Company issued an aggregate of 1,443,656 warrants to purchase the Company’s common stock for five years at $0.01127 per share. In addition, the Company issued 20,219,367 shares of its common stock in settlement of $132,500 of outstanding convertible notes payable and $2,520 accrued interest and 16,556,976 shares of its common stock for net proceeds of $135,645 from equity drawdown under the Magna Purchase Agreement.
In March 2015, the Company issued 6,185,432 shares of its common stock in settlement of $25,000 of outstanding convertible notes payable and $1,226 accrued interest. In addition, the Company issued 635,357 shares of its common stock as true up shares relating to the February 2015 equity drawdown under the Magna Purchase Agreement.
"
There is MASSIVE dilution going to be hitting this stock in the near future and right now in near real time and for months, nearly un-ending into the future for at least a yr based on the highly dilutive financing deals they've already made use of, but have not paid for in shares of common stock yet- literally 100's of MILLIONS of more shares of dilution coming. Me, I don't see what's going to generate enough common share buying power to overcome all those cheap dilution shares hitting the Ask/sell side, continuously being dumped onto the market, on-going.
Me, I stick with 10-K DETAILS versus "bullet point" little ole PR releases.
My 2 cents. 10-K filings tell a much more complete and accurate picture of the true condition of a public traded company IMO. Public companies file with the SEC these large reports like a 10-K for a reason to me, versus "bullet point" very selective "great sounding" PR IMO.
