US Stem Cell Inc (USRM)

[Dragon Lady]

USRM-a-CON: 10-K FILING DISASTER ! $5K CASH LEFT !!

https://www.sec.gov/ix?doc=/Archives/edgar/data/1388319/000118518523000339/usstem20221231_10k.htm

WELL - ole $99 buck a month rent-a-desk Miguel "managed" (LMAO !!) to get their LATE AS USUAL 10-K FILED and it's an EPIC DISASTER of LITERALLY $5K CASH LEFT + MASSIVE DEBTS OWED + MASSIVE DEFAULTED DEBTS OWED + NEW MEDICAL MALPRACTICE LAWSUIT "NOTICE" GIVEN + BK IS IMMINENT and they literally sell less crap than my neighbor's kid on E-bay....literally LMAO WTF !!

1) The POS scam has $5K TOTAL CASH IN THE BANK holy hell !!

2) They are IN DEFAULT on too many debts and loans owed to even count !!

3) NEW NOTICE WAS "SERVED ON THEM" of ANOTHER damn "MEDICAL MALPRACTICE" lawsuit aka WE BUTCHER FOLKS FOR FUN AND PROFIT !!

4) They literally sell ALMOST NOTHING - not even remotely close by a factor of a 1000 or more to even PAY THEIR MASSIVE OVERHEAD THEY CONTINUE TO SCAM despite "doing" what appears to be NO ACTUAL "BUSINESS" on a day to day or weekly or monthly basis WTF ???

5) LAWSUITS and DEFAULTED DEBTS and LAWSUITS and DEFAULTED DEBTS - THAT is their only real "business" these serial con grifters are in and ever have been in !

BK LOOK IMMINENT IMO - I just don't see how the hell Miguel keeps this scam going any longer ? He's milked this scam for all the juice one can squeeze and then some- I don't see ANY way it can be salvaged given the rank depths of LAWSUITS and DEBTS OWED to such a wide swath of people and entities and NOW ANOTHER DAMN "MED MAL LAWSUIT" being served on these ass clowns - WTF.....AFTER the FDA-DOJ fiasco and STILL they'e dabbling in BUTCHERING "PATIENTS" WTF ???????????????

BLOWING PAST 600 Ma Ma MILLION SHARES DILUTED - just a DILUTION MACHINE and a lawsuit machine and a debts owed machine...other than that WTF do they actually "do" as a real, functioning, legit "business"....WHAT...WTF does this shell scam share printing mill actually "do" as I'd sure as hell like to know.....???????

PAGE 1:

"The number of shares outstanding of the registrant’s Common Stock, $0.001 par value, as of April 14, 2023 was 641,507,317.

"
PAGE 14:

"On February 2, 2023, the Company received a notice of intent to initiate medical malpractice litigation. The Company is reviewing the notice and responding accordingly. The company was one of 11 entities and persons served with the notice.
"

PAGE F-13: DEFAULTING ON A PRIOR MED-MAL LAWSUIT PAYMENTS OWED TO THE VICTIM HOLY HELL !!!

"Weider

The Company, as one of the parties entered into a Settlement Agreement and General Release (the “Agreement”) dated June 3, 2019 related to certain medical procedures. Without admitting any liability, and as part of that Agreement, the Company agreed to provide a five-year 5.25% unsecured promissory note, dated June 15, 2019, in the principal amount of $500,000, payable in monthly increments of $5,000 per month, with a final balloon payment due on June 15, 2024. Accordingly, the Company recognized Pre-litigation expense of $500,000. As of December 31, 2022 and 2021, the remaining carrying value of the note was $403,622 and $413,239, respectively. At December 31, 2022 and 2021, accrued interest on the note was $17,014 and $1,808, respectively, and is included in accrued expenses on the accompanying balance sheet. The Company last made a $5,000 payment in March 2022 and thereby became delinquent on this note payable.
"
AND and and........

"On July 27, 2020, Brenda Leonhardt filed a lawsuit against U.S. Stem Cell, Inc., Mike Tomas, Dr. William P. Murphy, Jr., Richard T. Spencer, III, Mark Borman, Dr. Samuel S. Ahn, Charles Hart, Sheldon T. Anderson, Greg Knutson, and Kristin Comella in Broward County Court, Case No. CACE-10-012095. The lawsuit alleges breach of a settlement agreement, breach of contract with respect to failure to make a balloon payment under a promissory note, and several tort theories such as misrepresentation and fraudulent transfer. The Company denies most of the allegations in the lawsuit and moved to dismiss almost all of the claims. The motions to dismiss was recently denied. U.S. Stem Cell, Inc. does note that it provided a promissory note to Ms. Leonhardt, which has not been fully satisfied. Mrs. Leonhardt has moved for summary judgment on the note claim but the motion has not yet been set for hearing.

NOTE 7 — PROMISSORY NOTE PAYABLE

On June 1, 2015, the Company issued an amended and restated promissory note of $1,697,762 in settlement of the $1,500,000 outstanding subordinated debt, related accrued interest of $373,469 and accumulated and unpaid guarantor fees of $624,737.

The note is unsecured and non-interest bearing and required four semi-annual payments of $75,000 beginning on December 31, 2015 with the remaining unpaid balance due June 1, 2020. On June 1, 2020, the Company defaulted on the promissory note. Upon default, the note became due in full and the Company began accruing interest at the default interest rate of 18%.
"

PAGE 17 the WE BE BROKE FACTS :

"Our Ability To Continue as a Going Concern

Our management has evaluated whether there is substantial doubt about our ability to continue as a going concern and has determined that substantial doubt existed as of the date of the end of the period covered by this Annual Report on Form 10-K (the “Form 10-K”). This determination was based on the following factors, as of December 31, 2022, the Company had cash on hand of $5,133 and a working capital deficit (current liabilities in excess of current assets) of $14,009,852. During the year ended December 31, 2022, the net loss was $2,857,943 and net cash used in operating activities was $304,852. The Company’s existence is dependent upon management’s ability to develop profitable operations and to obtain additional funding sources. There can be no assurance that our financing efforts will result in profitable operations or the resolution of the Company’s liquidity problems.
"

PAGE 13 (comedy gold here - COMPARE to their BIG LIE website with all the "doctors in white coats and medical labs and leaning over microscopes" blah blah FRAUD vs the rent-a-desk nobody is home bad reality... !! :

"Item 2. Properties

Our headquarters are located in Sunrise, Florida which we currently lease on a month-to-month basis at a monthly lease rate of $99.00 per month.

We believe the space available at our headquarters will be sufficient to meet the needs of our operations for the foreseeable future.
"


PAGE F-3: THEY ARE PAST "BUSTED BROKE" and who the hell is going to buy their POS sub penny aka sub HALF CENT scam shares now LMAO ????

"Cash and cash equivalents $5,133

Accounts payable $1,624,583

Total current liabilities $14,077,891
"

Bwaaaa ha ha ha ha ...ole Miguel the SELF DESCRIBED "SUPER CEO BUSINESSMAN" and he's running this POS with $5K in the bank against $1.6 Ma Ma MILLION "ACCOUNTS PAYABLE" aka BILLS DUE RIGHT THE HELL NOW or in the 30 or 60 days ALREADY PAST n GONE since this "Filing" was written WTF !!

USRM-a-CON IS BK boys n girls....simple as them facts :)))

There is no "business" and they are BUSTED SHELL BROKE - a rent-a-desk and a "CEO" who's the "CFO" and everything else aka ONE MAN SHOW and no "business" happening on any given day - I'd be shocked if Miguel even "shows up" at the damn rent-a-desk on any given day LMFAO WTF !!!


DEFCON 1 BK RED ALERT....NOT A DRILL....USRM-a-CON IS UP IN SMOKE :))