US Stem Cell Inc (USRM)

[Dragon Lady]

Unless I'm missing it- NOT A WORD about the big "Mirror" trial. Thought they were a company pursuing an FDA approved major product? What happened? Why be back at a 5 person trial being done in mexico when you had a phase II and a phase III that appear to have gone nowhere? The Marvel trial has been dead and unfunded since what, 2009? Now Mirror appears to be stalling out and barely got a passing mention in the last 10-q (ONE person "enrolled" is all we know so far) and it needs 100 plus not only enrolled but to be treated, tracked, data collected, etc.

Now they're scattering off on all these "medical tourism" stuff in 2nd and 3rd world nations all over who knows where? What's the plan? What's the strategy? How can 4 or 5 people be managing all these various projects and supposedly also conducting an FDA trial like Mirror with little to no cash on the books (R&D spending last 10-Q was a fraction of salaries, interest, overhead)- an FDA actual phase III is typically something that would take a full time staff of 40 to 100 people to conduct and see to the end- needing a filing in the 10's of THOUSANDS of pages of documentation to the FDA, numerous reviews, face to face meetings, re-submits, etc? The Mirror/FDA pursuit seems to have just vanished? I can go back and site so many "blogs" and so many "PR's" talking about all sorts of "new programs", none of which later were ever mentioned again or ever amounted to anything. The list is extensive and all documented in old PR's but then never mentioned again in future 10-Q/10-K or similar documents.

I just don't "get it"- it's all just more vagary to me. A lot of talk but very little substance IMHO. I don't see a single thing that leads to monetization of any serious level anytime soon and their only method of hanging on so far is continuing to dump shares in enormous quantities- to pay a few people their salaries and pay insiders back at Northstar. The common shareholder is being diluted out to nothing as I see it. And further, if you read the 10-Q's and 10-K, Northstar has essentially been granted rights to nearly everything of any value BHRT would have today or in the future - so what is left for the common holder? Northstar just had the terms ammended to insure they have a preferred share vote that will always allow them to out-vote the common holders. It's right there in the SEC filing. They increased the prefer shares at such a ratio to guarantee a lock on the vote for Northstar- that's the way I read it. Do your own due diligence. Good luck- but I don't see it or get it?