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Thursday, April 16, 2015 11:18:56 PM
And this, this is supposedly going to generate $100 million in revenues annually- LOL? Really?
So with a 33% ownership and the thing is not even profitable yet- BHRT is supposedly going to bring in $100 MILLION in 2015 from this "clinic" LOL !! That means the little "clinic" would need to do over $300 MILLION in revenues to pay BHRT, a 33% owner, at least $100 million. This is as realistic as the "share buyback" plan IMO. A company that ended 2014 with $36K total cash on-hand against over $2 million in just accounts payable and about $11 million in current obligations is going to buy-back their own dilution shares, using more dilution financing, LOL? Really?
http://www.sec.gov/Archives/edgar/data/1388319/000114544315000378/bioheart_10k.htm
Latest filed 10-K, PAGE F-13:
"Investment is comprised of a 33% ownership of U.S. Stem Cell Clinic, LLC, accounted for using the equity method of accounting. The initial investment in 2014 of cash and expenses paid on U.S. Stem Cell Clinic, LLC’s behalf was in aggregate of $49,714. The Company’s 33% loss incurred by U.S. Stem Cell Clinic, LLC of $9,117 was recorded as other income/expense in the Company’s Statement of Operations for the year ended December 31, 2014 and reduced the carrying value of the investment to $40,597."
The thing isn't even profitable as of the 10-K release.
I don't think I've even seen a single PR that even lists the address of this ole "clinic" or what it even looks like? Where's the thing even located- and what's the square footage and facilities like, etc? Is the property owned or leased, etc? VAGUE as usual per BHRT IMO. $100 million in 2015, LOL ! I'll believe that when it happens.
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