BG Medicine Inc (BGMD)

[bertbex]

I wanted to post the following email on the Yahoo Finance Message Board of BGMD, but it didn't work. So I post it here: On Jan. 12, 2021, I sent this email to a law firm (I will inform you if I will get further replies, your suggestions are welcome):

“Dear Sir or Madam,

I chose you to contact by using the website https://www.lawinfo.com/class-action/massachusetts/foxborough/. If you or other advisors request financial compensation for processing this request, please let me know before further processing!

I am a retail investor in BG Medicine (BGMD) based in Foxborough, MA (http://bg-medicine.com) whose chairman is Craig Jalbert (Verdolino & Lowey, PC Foxborough, MA) since July 26, 2018. It seemed that BGMD got financial problems in 2015: On July 09, 2015 a 1 for 4 split was carried out, and on Sept. 16, 2015 the delisting from Nasdaq took place (https://www.otcmarkets.com/stock/BGMD/security). Since then, BG Medicine is traded on OTC pink sheets as "BGMD".

The big issue is (for retail investors like me) why since June 27, 2016 there have been no official publications any more from BGMD like operating business results? (see the last disclosures at https://www.otcmarkets.com/stock/BGMD/disclosure) Because to save money? Why they disclose at least no unaudited operating results?

So I suggest a class action lawsuit should be filed with the aim of forcing BGMD to publish at least unaudited operating results! By the way, BGMD´s share price has risen again significantly since December 2020.

The only way to get information about BGMD are discussion forums at the Yahoo Finance Message Board of BGMD (https://finance.yahoo.com/quote/BGMD/community/) and at Investorshub (https://investorshub.advfn.com/BG-Medicine-Inc-BGMD-24164/). Some people speculate that BGMD's products and patents might be worth significantly more than the current low market capitalization (https://www.otcmarkets.com/stock/BGMD/security). I have collected the following information about BGMD since June 27, 2016:

- The answer below from Craig Jalbert on Nov. 16, 2020: “…There is no reporting of any kind to anyone nor will there ever be.”

- The answer below from Mary Jo Schindler Bailey on July 01, 2020 (her email address is shown when you click on “email us” at BGMD´s website “contact us”): "To recap BG’s status, on July 26, 2018, pursuant to Section 141(f) of the General Corporation Law of the State of Delaware, the directors of BG Medicine, Inc., appointed Craig R. Jalbert, as Chairman, Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary of the Corporation, to serve in accordance with the company’s Bylaws, and to manage the company’s business affairs going forward. The former BG Board of Directors resigned at that time. The company continues to operate, as having entered in to several manufacturing and sales agreements with several partners. With that said, the company is limping along right now. There is no bankruptcy, and not much else to report at this time.”

- BGMD has obviously a patent in processing (January 30, 2020). The corresponding link was published at yahoo message board of BGMD: https://patents.google.com/patent/US20200033367A1/en

- BGMD obviously paid a scientist (March 08, 2020): "Footnotes: Dr. Cappola has received research funding from BG Medicine." The corresponding link was published at yahoo message board of BGMD: https://www.jacc.org/doi/full/10.1016/j.jchf.2019.09.009

- According to https://www.otcmarkets.com/stock/BGMD/security there might be still a major shareholder who owns 1,979,380 shares, because this number of shares results in the difference between 11,374,360 outstanding shares (Dec. 19, 2018) and float of 9,394,980 shares (Sept. 15, 2015). Perhaps this could be a reason for a dispute in how to lead the company? (More information about BGMD´s current share ownership is available at https://fintel.io/so/us/bgmd if still correct)

I am German citizen. My occupation is engineer (currently unemployed). I don't have any inside knowledge about BGMD, because I don't know anyone who works or ever worked at BGMD and I never had any business or any work relationship with BGMD, nor I got ever in touch with their products.

I myself bought 91,000 shares of BGMD in 2014 and 2015 (I spent at least € 58,199.14 or even more). On July 09, 2015 (day of 1 for 4 split) my shares were converted into 22,750 shares. Then I bought more 479,250 shares from 2017 to 2019 and thus I own totally 502,000 shares which are approx. 4.4% of all outstanding shares. Maybe it might be useful to increase my stake to over 5% in order to force BGMD to disclose information to me as shareholder?

I asked my bank what happened in case of increasing my stake to more than 5%? They replied me on Aug. 17, 2018: "Basically, with foreign shares, it is not you who are personally recorded in the share register, but your bank as the custodian bank. If there is actually a reportable process according to Schedule 13 D, it is not you who are initially required to report, but your bank. If necessary, we would approach you again.”

I would be happy to hear from you whether it may be promising to file a class action against BGMD or not? You could initiate this or alternatively forward this email to other advisors or you (or other advisors) are also welcome to publish suggestions on the Yahoo Finance Message Board of BGMD, but in case please only mention my alias name “Bertbex” which I use to communicate there for reasons of discretion (please do not publish my real name XXXX YYYYYYY!).

With Best Regards
XXXX YYYYYYY”