US Stem Cell Inc (USRM)

[Dragon Lady]

CEO: 10-K filing LATE, NOT GOOD. Oh oh ?????

A vague (as usual) rambling "bloggy tales" from U.S. Stem Cell FL and their noe rent-a-desk "world headquarters" virtual office. CEO Mike Michael Miguel Tomas wandering through a long ramble to get to the bottom line fact THE 10-K WILL BE FILED LATE and we're EXTREME HIT TO OUR INCOME. WTF?

A bunch of long winded bullshit about the CA case which has ZERO to do with USRM and which of course is delayed as most CA courts are practically shut down for Covid 19 reasons - so ain't gonna be any trials on-schedule now, no way in hell.

CEO ends the long winded bloggy tale with "We're gonna file a 12b-25" in order to delay filing our year end SEC filing, the big muchacho 10-K.

No freaking wonder shares tagged .004 again this AM and their market cap is collapsing to practically nothing - this is in potential BK territory looks like to me.

This DOES NOT LOOK GOOD if you ask me - as Mike Michael Miguel then adds, "we're considering possible strategic alliances with other regenerative blah blah" ?????

SO, you can't get your 10-K filed on time, you're near cash BROKE and now set out a lil "bait" about "we might/maybe/could possibly" be exploring some sort of "partnership" to survive, BUT no assurances can be made (LMAO, like where have we heard that before?) and blah blah.

Sounds like they're teetering on BK filing if you ask me- that's about as grim a bloggy tale as they've ever issued. Missing the 10-K filing date is a big, big deal when they're near cash broke.

They also have a MASSIVE debt owed coming due on June 1, 2020 which is backed by a court order- the old Brenda Leonhardt $1.4 million owed, enough to BK um right there, due in a few short months and backed by a court order.

Looks like it might be LIGHTS OUT at the virtual office rent-a-deck "world headquarters" for ole USRM?

GRIM if you ask me- like the fat lady is about to sing the song finally :)


http://us-stemcell.com/ceo-blog-a-summary-of-recent-events/

KEY QUOTES from bloggy tales today:

"In the meantime, we continue to operate with reduced income and new products to our network. The Company plans to file form 12b-25, requesting a 15-day extension for the 2019 Annual Report on Form 10K deadline. We are considering possible strategic alliances with other regenerative, integrated, functional and wellness medicine groups. No assurances can be provided that any alliances will transpire or what impact the COVID-19 preventative measure will have on our business or any potential business transactions."

REDUCED INCOME

LATE 10-K FILING w/ 12b-25 to be filed = GRIM

The usual BS about "considering possible strategic alliances" blah blah = code speak for we're going broke and can't make it on our own

NO MENTION of the $1.4 million note owed to Brenda Leonhardt (ex-wife) of company founder. That note is due on June 1st, 2020 and back by a court ordered settlement. Oh golly - USRM has nothing to pay that with? GRIM again :((

NO ASSURANCES (LMAO!) the famous last words of Mike Michael Miguel Tomas as usual - way to end the bad news