First off- the outstanding share count is EASILY found on page-1 of any 10-Q or 10-K. They have been massively dumping share/diluting in order to keep a trickle of survival cash coming in. At any given moment they have near zero cash left on their books. Last 10-Q from Nov 2013 had $6K, yes that's THOUSAND dollars in cash. BROKE essentially. There is no "secret" source of cash- it's the first entry on any balance sheet. The share counts have been the following:
10-Q April 2013 page one
As of April 30, 2013, there were 200,623,903 outstanding shares of the registrant’s
10-Q Aug 2013 page one
As of August 6, 2013, there were 236,657,436 outstanding shares
10-Q Nov 14 2013 page one
As of November ____, 2013, there were 347,175,310 outstanding shares
So based on that massive share dumping/dilution rate- the outstanding share count when this 10-K gets released will be WELL OVER 400 MILLION in my opinion. I'd guess 430 MILLION or more outstanding shares as of today.
This means that in a period of about 7 months, they massively diluted by about 147 MILLION shares from 200 to 347 million. That's over a 50% dilution to the common shareholder. My guess is by this upcoming 10-K they will have 100% diluted (doubled) the shares outstanding from just April last yr. Pretty sad story. You guys who "try" and imply there is some source of "financing" are just plain wrong. Other than dumping shares to finance houses at steep discounts- I find no other proof in any latest 10-Q of any source of cash coming into the company, none.
2) You point that management or Northstar have been "buying" shares is 100% and you can provide no proof that it is true. It's the exact opposite- BHRT has been issuing, as in GIVING FOR FREE, shares to Northstar and mgt as repayment of debt, as options that they recently repriced to be "in the money" instantly and also just gave themselves a bunch more options that vest immediately- a very unusual practice. Most options vest over about 3 to 5 yrs in increments and are in incentive to perform and stay with the company long term. These options could have been dumped on the recent run-up as they vested the day they handed them to them which was months ago.
People really need to learn to read the SEC filing documents such as the 10-Q and similar. They are all that matters in the end and you can't twists what's in black and white in a legal filing. BHRT is dumping shares by the boat load to pay themselves, pay the interest on their debt, pay the rent, etc and if you read the 10-Q, you'll see that most of the money they raise each qtr via share dumping goes to the SG&A line (sales, general and admin) costs and very little is actually going to R&D or so called "trials". I can site every page number and exact verbiage if anyone wants to challenge those facts.
They are also using the worse, most desperate kind of financing a firm can use- it's typically called "death spiral" in the industry. They give common shares to "finance houses" on the Street - who then give them cash for those shares. Those shares are STEEPLY discounted. The last 10-Q will show the terms are horrible, as in 40% to 60% discount to market. The firm who provides cash then also is given an option/warrant to acquire more shares, which is an incentive for them to short the stock which is exactly what had been happening- driving it to a low of .0063 at one point. They then get more shares that way, cover with those shares and make money on the discount shares and the newly acquired shares. Just google "death spiral financing" - it's well known in penny circles and well explained. I can site the exact lines in each 10-Q showing what firms they did these deals with (for instance ASHER, a notorious lender/cash for shares source of last resort) being just one.
No one is "buying" shares as you try and imply. You're just plain wrong. Shares are being dumped and their cash position as a company has them teetering on BK at any given moment/day. Northstar was actually formed/created out of thin air as BHRT had defaulted (went BK essentially) on a key loan. Northstar "assumed" that loan (must have put up their homes, collateral or similar) and they now get shares/options each qtr for interest and sometimes principal payments. It's all in the 10-Q's and 10-K. Not the short version Yahoo or similar puts out- you have to go to Edgar or similar and read the documents cover to cover- usually 40 to 60 pages or so.
AI
