BioStem Technologies Inc. (BSEM)

[Jonah H]

The Company reports that the Casino & Disco continue to turn a profit as outlined in Company's financial reports posted here:

Can someone please explain to me how Swank claims to be turning a profit? I see a ~100k OPERATING LOSS last quarter. Retained earnings balance is now at -750K. You might also notice next to no rent expense this quarter as opposed to the usual 50k.

The Company is not selling any free trading stock and is prohibited by law from selling more than 1% of outstanding shares every 90 days. "It would be idiotic to sell at these levels," said Swank.

Totally incorrect. Swanks been selling free trading shares all along for discounts anywhere from 40 to as high as 86%. Heres an old list from Q3+4 of 2010:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=60223250

He clearly issued greater than 1% of outstanding shares in a 90 day span. Prohibited by law according to him...

Unfortunately, the last "disclosure" statement didn't actually disclose the amount received for shares issued at discount. I guess Swank decided it best to keep that a secret from now on...