BioRestorative Therapies Inc (BRTX)

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BioRestorative Therapies Inc (OTCMKTS: BRTX) Surges Over a Penny on Renewed Interest
JANUARY 18, 2021

BioRestorative Therapies Inc (OTCMKTS: BRTX) is amking a strong move up the charts in recent days since a brief dip below the $0.01 mark after successfully emerging from chapter 11 reorganization.

BioRestorative Therapies has received authorization from the Food and Drug Administration to commence a Phase 2 clinical trial using BRTX-100 to treat persistent lower back pain due to painful degenerative discs. BRTX-100, is a product formulated from autologous (or a person’s own) cultured mesenchymal stem cells collected from the patient’s bone marrow.

According to management: “Our first priority is to become current with our SEC filings. Our latest filed periodic report is the September 30, 2019 10-Q; therefore, we will need to file our 2019 10-K, our 2020 10-Qs and our 2020 10-K (which is not due until March 31, 2021). Much work needs to be done, but with our team of accountants, auditor and attorneys, we expect to return to a current status by early next year. Discussions with the SEC have provided us with the information necessary to create a clear and thoughtful pathway to executing on this process. We expect to file our 2019 10-K in February 2021, our 2020 10-Qs in March 2021 and our 2020 10-K timely in 2021 (giving effect to the 15 day extension afforded by the SEC’s rules). Not only would that bring us current, but it would also trigger, pursuant to the confirmed plan of reorganization, a milestone funding obligation from the company that provided the debtor-in-possession (DIP) financing to us during the chapter 11 process. The amount of the funding is to be $3.5 million less the sum of the approximately $1.2 million of DIP financing provided during the reorganization and the costs incurred by the DIP funder.”
https://microcapdaily.com/biorestorative-therapies-inc-otcmkts-brtx-surges-over-a-penny-on-renewed-interest/129915/