CardioVascular BioTherapeutics (fka CVBT)

[walhall]

VENTURIS THERAPEUTICS (formerly Cardiovascular Biotherapeutics) TO SHUT DOWN IN 2020 - MY PREDICTION

Whether it's called Cardiovascular Biotherapeutics (CVBT) or now Venturis Therapeutics (the new name, although the same old zombie company that is insolvent and illiquid), I believe Venturis Therapeutics will close its doors for good in 2020, especially after what I believe are very adverse developments Venturis Therapeutics will suffer in Q1 2020.

ALSO, is it not a fact that when a broken insolvent biotech company changes its name to get away from its sordid realities and baggage, that's a dead giveaway it's not going to end well? I'm racking my brain to think of any similar zombie biotech companies that have changed their name to get away from a terrible past (and present) and succeeded. Investors these days are far too sophisticated to fall for that sort of maneuver, and search engines are not going to be Venturis Therapeutics' friend (or Calvin Wallen's either).

Why do I believe Venturis Therapeutics is on the brink of shutting its doors forever? There are too many reasons (and this is not an exhaustive list of them):

1) Venturis Therapeutics remains an insolvent company based on generally accepted accounting principles (GAAP). I believe Venturis Therapeutics is claiming to be financially healthy only by playing accounting tricks and preparing financial statements that do not conform to GAAP. In fact, Venturis Therapeutic's CFO Robert Schleizer said in the 2018 annual shareholders meeting that Venturis Therapeutics' 2017 audited statement was going to receive a qualified opinion as a going concern from Venturis Therapeutics' auditors. And what has changed since then? It all smells like Enron.

2) According to CVBT's bankruptcy judge Gary Spraker in 2019, CVBT a.k.a. Venturis Therapeutics does not have the ability to pay its debts as they become due. That's not my opinion, that's a statement of fact from the bankruptcy judge for Venturis Therapeutics. (And it's in the public record.) My theory is that the name change from CVBT to Venturis Therapeutics may be due to Venturis Therapeutics' desire to make it more difficult for prospective partners and investors to find all of the CVBT baggage. But like I said, I believe Google and other search engines are not going to be Venturis Therapeutics' friends.

3) Venturis Therapeutics leadership keeps alarmingly turning over - people don't stick around. If things are going so well, why have the President, the Chief Medical Officer, and the equivalent of the Chief Science Officer all left their positions in 2019? And why did CVBT/Venturis Therapeutics try to so clumsily cover up the departure of the Chief Medical Officer, Dr. Ori Ben-Yehuda in particular, who stayed only a few weeks before leaving? What did Dr. Ben-Yehuda learn in those few weeks that made him run for the door? (Probably the same things that are making everyone else run for the door too.) Search for the press release that Cardiovascular Biotherapeutics issued announcing Dr. Ori Ben-Yehuda's arrival at the company. His departure was in only a matter of weeks--not that it was announced--but it was noticed by astute shareholders who saw that his name was pulled down from the website.

4) Venturis Therapeutics is being pursued by creditors right and left as I understand it, and Venturis Therapeutics has only kept creditors at bay by playing the game of delay, delay, delay. At some point, that game no longer works and the jig is up. I believe that point is in 2020.

5) The Chairman and President of Venturis Therapeutics, Calvin Wallen III, is being pursued by the U.S. government for fraud and for allegedly stealing $14 million from his previous now-bankrupt company, Tauren Exploration Inc. Mr. Wallen has also played the delay, delay, delay game to keep pushing back the start date of his trial, but again, at some point that stops working and the trial will happen. I believe it will happen in 2020. A TX bankruptcy attorney I spoke with who is familiar with the outlines of the case said to me, "the government does not lose cases like this." If Mr. Wallen is innocent as his supporters claim, then why would he be wanting to push back the date in which his alleged good name is cleared? I believe the reason why is because with this conviction, the curtain comes down for good. The conviction will automatically set in motion a series of events that will first result in referral for criminal prosecution (which my sources tell me is a mandatory referral because of the size of the alleged theft), and additionally, it will likely result in a referral to the IRS to determine if Mr. Wallen paid taxes on the $14 million in stolen money. If he did not pay those taxes (because under the law, one must also pay taxes on illegal income), well, I don't predict Mr. Wallen is going to enjoy his retirement so much.

Here are the links to the court records in these related cases:

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


And here's more information about the current troubled state of Venturis Therapeutics (formerly Cardiovascular Biotherapeutics):
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151409373

Coming up soon: New developments in the U.S. government's upcoming fraud trial against Venturis Therapeutics CEO Calvin Wallen III. Stay tuned...