Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. CERTAIN FORWARD-LOOKING INFORMATION
Information provided in this Quarterly report on Form 10Q may contain forward-looking statements within the meaning of Section 21E or Securities Exchange Act of 1934 that are not historical facts and information. These statements represent the Company's expectations or beliefs, including, but not limited to, statements concerning future and operating results, statements concern industry performance, the Company's operations, economic performance, financial conditions, margins and growth in sales of the Company's products, capital expenditures, financing needs, as well assumptions related to the forgoing. For this purpose, any statements contained in this Quarterly Report that are not statement of historical fact may be deemed to be forward-looking statements. These forward-looking statements are based on current expectations and involve various risks and uncertainties that could cause actual results and outcomes for future periods to differ materially from any forward-looking statement or views expressed herein. The Company's financial performance and the forward-looking statements contained herein are further qualified by other risks including those set forth from time to time in the documents filed by the Company with the Securities and Exchange Commission, including the Company's most recent Form 10Kfor the year ended September 30, 2014. All references to" We", "Us", "Company" or the "Company" refer to Bio-Matrix Scientific Group, Inc.. All references to "Regen" refers to the Company's controlled subsidiary Regen Biopharma, Inc.
Material Changes in Financial Condition:
As of June 30, 2015 we had Cash on Hand of $230,904 and as of September 30, 2014 we had Cash on Hand of $ 502.
The increase in Cash on Hand of approximately 45,897% is primarily attributable to :
$18,521 lent to Bio Matrix Scientific Group, Inc. by David Koos, the Company's Chairman and Chief Executive Officer during the nine months ended June 30, 2015
$14,000 lent to Bio Matrix Scientific Group, Inc. by third party lenders during the nine months ended June 30, 2015.
Payment by Starcity Capital LLC of $52,500 as consideration for that $300,000 convertible promissory note issued to Starcity Capital LLC during the three months ended March 31, 2015
$70,000 received by the Company as a result of sale by Bio Matrix Scientific Group, Inc of Bio Matrix Scientific Group, Inc.'s owned common stock of Regen Biopharma, Inc. during the six months ended March 31, 2015
$25,650 lent to Regen Biopharma, Inc. by David Koos, the Company's Chairman and Chief Executive Officer during the nine months ended June 30, 2015
$164, 000 lent to Regen Biopharma, Inc. by a third party lender during the six months ended March 31, 2015
775,000 paid to Regen Biopharma, Inc. as a result of issuance of convertible notes during the six months ended March 31, 2015
$90,000 paid to Regen Biopharma, Inc as a result of issuance of convertible notes during the three months ended June 30, 2015
How many shares it doesn't say; the way it is worded sounds like all shares which would put the value received at .002/share for 30M shares. None of this makes sense and the fact the company isn't clear about it does not make sense. This is a bad indicator that Koos is not changing his ways as I would have hoped the scientific advancement would encourage him to do. He seems to be in this for himself and no one else.
