We have found it is more cost effective and efficient to hold a showcase across from these major meetings as we are doing at the HRS and we did at HFSA, ACC, AHA, Heart Failure 2014 and the JP Morgan Healthcare Conference. When we had a booth at HRS last year there was very little traffic in the entire booth exhibit area. We find it is better to get physicians right after they speak for conversations than to wait until they come to the booth. We have sponsored booths for Bioheart at dozens of meetings each year.
As you know I am the founder of Bioheart and the lead inventor of many of their inventions. All the patents and technologies were acquired by my efforts during my tenure as full time CEO from early 1999 when I founded the company until my transfer to the CTO position in March of 2007. I originally signed on to serve 3 years 1999, 2000 and 2001 and gave an extra 7 years of my life full time to Bioheart. In 2003 I gave back to the company 7,000,000 of my already paid for shares and 300,000 already earned stock options for the benefit of the shareholders. I rescued the company from default in loans with Banks and other creditors time and time again including the $3.3 million Bank of America loan rescue in 2009. All 33 members of Bioheart's Scientific Advisory Board were recruited by me. In our labs in California we have invented a number of new technologies such as our stem cell pump that can help serve as improved 2nd and 3rd generation delivery systems for Bioheart MyoCell. I raised the lions share of capital for Bioheart, much from family, friends and associates and invested very heavily myself multiple millions. I borrowed Bioheart more funds last year. I strongly believe in the Bioheart MyoCell technology. Our goal was to beat the performance of CHF drugs and CRT pacers in our Phase II/III clinical trials. We came in at 95.7 meters improvement in exercise over CHF drugs and placebo (which came in at minus 4 meters decline. In other trials CRT pacers have published 16-20 meters improvement.
I continue to utilize my own funds to promote Bioheart which I founded in 1999. In total I have provided over $8 million to support Bioheart. Not a single year since 1999 have I taken out of Bioheart more than I put in to help them. I have not sold any shares since 1999 and have not advised any of my friends or family to sell their shares. I am not an officer of the company. I am a just a shareholder just like you. I am trying to help and I am spending my own funds to do so because I believe in the cause. 25 million people are destined to die of heart failure before this decade is out with the currently available therapies. I truly believe Bioheart's MyoCell represents the best hope for these patients. Other cell types have come into fad over the years and come and go but Bioheart's MyoCell, the only cell type proven to be able to grow new contractile muscle in the depth of scar tissue, remains standing. No other cell type has beaten 53 meters improvement in 6 minute walk compared to Bioheart's MyoCell with 91.7. The 2nd Generation Bioheart MyoCell SDF-1 with repeat injections is likely to provide even greater improvement, based on published pre-clinical studies from the Cleveland Clinic, University of Florida and Navarre, Spain. What are you doing to help this cause?
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