CardioVascular BioTherapeutics (fka CVBT)

[walhall]

Turmoil at Cardiovascular Biotherapeutics (CVBT), Part 2

Dr. Ori Ben-Yehuda, CVBT's very short-lived new Chief Medical Officer, was no minor consultant, he was announced with great fanfare and a press release put out on the newswire by Cardiovascular Biotherapeutics on October 2, 2018. Yet Dr. Ben-Yehuda left the company within weeks of the announcement of his hiring (and we still don't know how many weeks: 2? 4? 6?).

Most telling, after Dr. Ben-Yehuda departed, CVBT simply turned Dr. Ben-Yehuda into a non-person, removing any trace that he ever existed from CVBT's website. The press release was quietly pulled down, and Dr. Ben-Yehuda's name was removed from any mention as having ever been part of CVBT's management team. It's as if he never existed! (And it's as if CVBT is unaware of search engines or cacheing.)

Here is the link to the press release that CVBT put out about hiring Dr. Ori Ben-Yehuda (the text is copied in below at the end of this post):

https://www.prnewswire.com/news-releases/dr-ori-ben-yehuda-joins-cardiovascular-biotherapeutics-inc-as-chief-medical-officer-300723215.html

IMPORTANT QUESTION: If Dr. Ben-Yehuda's departure from CVBT was so inconsequential, why did the company try to cover up that he was ever there in the first place?

Even though CVBT's leadership doesn't directly talk to shareholders or answer questions asked or return calls, I think it's great that CVBT's leadership visits this board and posts anonymously. I'm looking forward to the company's anonymous responses and spin.

My best guess is that Dr. Ben-Yehuda quickly left the company when he realized he'd been sold a bill of goods before taking the job. He had likely been told all sorts of things that he realized were not true once he was on board, and quickly extricated himself. And he probably believed CVBT had resources to conduct trials and advance the drug that it really does not have.

And one of those things he probably did not know the truth of is that CVBT's CEO and controlling shareholder, Calvin Wallen III, is about to go on trial for bankruptcy and other fraud. Mr. Wallen is accused by the Bankruptcy Trustee for Tauren Exploration Inc., Mr. Wallen's bankrupt company, of having allegedly stolen $14 million from Tauren, and a number of other alleged misdeeds outlined in the court documents linked in below. Mr. Wallen's trial will be taking place later in 2019. Stay tuned for details, they will be shared here...

Tauren Exploration, Inc. Liquidating Trust vs. Calvin Wallen III:
https://www.pacermonitor.com/public/case/24021776/Tauren_Exploration,_Inc_Liquidating_Trust_v_Wallen,_III

Tauren Exploration, Inc. Liquidating Trust vs. Pandale Holdings, Inc. et. al:
https://www.pacermonitor.com/public/case/24021775/Tauren_Exploration,_Inc_Liquidating_Trust_v_Pandale_Holdings,_Inc_et_al

Tauren Exploration, Inc. Liquidating Trust v. Fossil Operating, Inc. et al:
https://www.pacermonitor.com/public/case/24021777/Tauren_Exploration,_Inc_Liquidating_Trust_v_Fossil_Operating_Inc_et_al



TEXT OF CVBT'S ANNOUNCEMENT OF THE HIRING OF DR. ORI BEN-YEHUDA:
Dr. Ori Ben-Yehuda joins CardioVascular BioTherapeutics, Inc. as Chief Medical Officer

News provided by
CardioVascular BioTherapeutics, Inc.

Oct 02, 2018, 16:52 ET

DALLAS, Oct. 2, 2018 /PRNewswire/ -- CardioVascular BioTherapeutics, Inc. ("CVBT" or the "Company") is pleased to welcome Ori Ben-Yehuda, MD, FACC as our new Chief Medical Officer (CMO). "Dr. Ben-Yehuda brings leading edge skills and demonstrated drug development success to the Company. He will guide our clinical team in our current and future development stage research programs," CVBT's Chairman and CEO, Calvin Wallen, III, stated.

CVBT's Executive Vice President for R & D, Laurence R. Meyerson, PhD, commented "Dr. Ben-Yehuda is a key and timely addition to our R & D team as CMO. Ori will be instrumental in leading the clinical research effort for our coronary artery disease and peripheral artery disease programs, as well as others. He will also assist in transitioning our preclinical programs to IND stage projects." Dr. Ben-Yehuda is additionally the Executive Director of the Cardiovascular Research Foundation Clinical Trials Center and is the Deputy Editor of Structural Heart: The Journal of the Heart and the Editor-in-Chief of Coronary Artery Disease. Prior to joining CRF, Dr. Ben-Yehuda was Vice President,Cardiovascular Clinical Research at Gilead Sciences. Prior to that, he was Professor of Clinical Medicine at the University of California, San Diego (UCSD) and the Director of the Coronary Care Unit at UCSD Medical Center. Dr. Ben-Yehuda received his medical degree from the Sackler School of Medicine at Tel Aviv University in Israel and completed a cardiovascular medicine fellowship at the University of California, San Diego.