Marvel and Regen appear to have been dead in the water and gone no where, as you stated, for several years now. Unfunded, unmoved, or whatever. The boiler plate language on them just gets repeated in every 10-Q/10-K each period. And yes, they sit on the .gov site as registered, but nothing appears to have progressed or changed on them.
Mirror got a "barely mention" in this 10-K and in the last 10-Q so where has it gone? Explanations keep getting posted that more info will come, that no info is "normal" given that XYZ was said way back when. Me, not buying it. Mirror was touted, blasted in PR as their "big thing and big push", not "medical tourism" or whatever else. If there was enrollment or other updates, they do not hold them back- in fact if it was "registered", one key thing that would need to be happening is timely updates on enrollment numbers, progress, etc.
Look at the R%D budget spending compared to overhead/salaries and so forth. I don't see how you run multiple trials plus all this other "stuff" all over the place on what, about $600K or so total spent in a yr, but almost 4X that was spent on salaries and rent and costs for a 4 or 5 person company?
None of it makes any sense to me. Broad claims have been posted that they would no longer be diluting/share selling because of "major revenues" now, etc. Didn't even come close. Sales were about $5K a month, which is nothing in the ballpark to fund trials or more- it doesn't even pay their rented facility rent for a yr. Posts claim they will have "big sales" and have product(s) plural to sell- as if this is their business now? I'm not seeing it, IMO.
What happened to being a "Heart" company pursuing high grade, FDA type trial(s) heading to an end game of approval? IMO from everything I've read now- I don't know? Debates are being posted here now splitting hairs on the dilution occurring over 5 months, or 5 months and a few weeks - as if it makes any difference in the slightest. The numbers were posted and clear- that the shares have doubled in less than the past one year and they are still diluting in the 35-40 million shares a qtr "range" right up until this 10-K was issued- so what difference does a week or 3 weeks make in the dilution calculation. 150 million a yr rate is probably on the low side as it was over 200 million last yr- but the hair splitters want to debate that, rather than WHERE DID MIRROR GO and other real important things- like all the posts about "income will replace dilution" being not even remotely true at this point- and no indication is there that, that will come true anytime soon IMO only.
It comes down to a blind love affair versus reality, I guess for some. To each his/her own. The report says what it says and there is no debate IMHO that they are in desperate straights for cash at any given time, and the report is the proof- as their are multiple statements and warning in their own words saying just that, and the "financing" terms (convertibles, share discount, early penalty pay off clause) are only getting worse at best, not better by any stretch. They did Asher and other "deals" right up until late in Feb. for around $30K or $35K of cash ea, meaning they need that much trickling in, just to keep things going. Right where that is stated, is their own warning that cash on hand is not even sufficient to meet their current needs/obligations and they must find sources continually (my paraphrase- I can give exact page number and quote 10-K for the debaters/critics). It is what it is and says what it says.
My opinion, they don't have the money to fund major trial(s) at this point- I just don't see how from the numbers put up in that 10-K, and that's just my opinion knowing what is typically said in industry and other credible publications about what a typical, major, phase II or III trial takes/costs to drive to completion. That's my take and opinion. See it any way you want for anyone else.
AI
