"This is a company wout endless funds but WILL NOT QUIT and as dire as people make it seem are not as close to insolvent as they try to portray BHRT... They went from a company with over a 100 million dollars invested and 0 money coming back to a company that is close to making a million dollars a quarter."?????
What?
1) Their financial situation is past dire, they are teetering on insolvency and except for massive, endless dilution and ability to dump shares (unlike a private business, non public traded company) - they'd of been BK and done a long, long, long time ago. They dilute shares like water- more than doubling the outstanding share count in less than 1 yr. They just finished a qtr q/ $46K total cash in the bank and over $2 MILLION in just immediate debts (accounts payable, normally due in 30 days or less). Thus, it's correctly pointed out that they in desperation often offer millions, if not 10's of millions of shares to others as payments. When a company is teetering on BK, when it's not spending anything on R&D which is the business they "claim" to be in, but they are handing out lavish, large pay raises and cash bonuses to 2 people, out a micro sized company of 4 full time people total- then it's a huge problem in most people's book. It shows the company is more than likely nothing but a vehicle being used to self enrich insiders. They appear to to little or no actual "business" in the fields they claim to be pursing in their own SEC filings. Trials that are dead and parked for 5 yrs now for "lack of funding" - but money flowing like water to select insiders is OTC-ville and extremely problematic IMO and that of many others. Further, executives are paid for results- look at the share price and market cap of this stock, it's an unmitigated failure- right in the middle of one of the greatest bull market periods in history.
2) They are nowhere near "close to making a million dollars a quarter.". They have never, ever, ever "made", as in a profit or a return on investment or as in positive cash flow so much as ONE CENT in their entire existence. They LOSE money and that's all they ever do. They're not even remotely close to a million a qtr in revenue and last qtr made a lousy 10% gross margin on what revenue they did bring in. Meaning costs/expenses (cost of sales) ate up nearly all revenue, making it irrelevant for the most part. READ THE 10-Q FILING.
3) 2 of the people who get the massive salaries and cash bonuses sit on the BOD as 1/3 of the vote. This company has no independent compensation committee or similar. They self-deal to each other in essentially everything they do- voting their own pay raises, creating Northstar LLC who is one in the same with BOD, etc Again, READ THE SEC filings.
As to some supposed history of Tomas or whoever "making millions" for others in the past or whatever- I don't know of any concrete proof of that or how one would know that w/o specific insider information? Neither Tomas nor Comellas has any background or published experience or successes at ever successfully running a bio-tech company, and especially not at ever bringing an FDA approved product to market successfully. Most, if not all of their experience in "C" level, Sr mgt positions at running/managing public traded companies is at Bioheart (100% certain in the case of Comella).
Also, I could care less about a bunch of self-gloating and often trumped up "awards" or whatever- who freaking cares? RUN THE BUSINESS, it's not an awards who or popularity contest- the stock's market cap is barely $7 million dollars and the share price is sub basement at 1.3 pennies. And we're supposed to care about some wash list of awards? I've got a cabinet full of "awards" but I don't go around in public boasting about them- my ego is fine w/o that.
From the companies most recent 10-Q filing: PAGE 12 (their own auditor and Sr mgt think and state their financial condition as DIRE, teetering on insolvency, which is the step prior to bankruptcy)
"NOTE 2 — GOING CONCERN MATTERS
The accompanying unaudited condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying unaudited condensed financial statements, during nine months ended September 30, 2014, the Company incurred an operating loss of $1,247,199 and used $747,184 in cash for operating activities. As of September 30, 2014, the Company had a working capital deficit (current liabilities in excess of current assets) of approximately $10.0 million. These factors among others may indicate that the Company will be unable to continue as a going concern for a reasonable period of time.
The Company’s existence is dependent upon management’s ability to develop profitable operations and to obtain additional funding sources. There can be no assurance that the Company’s financing efforts will result in profitable operations or the resolution of the Company’s liquidity problems. The accompanying statements do not include any adjustments that might result should the Company be unable to continue as a going concern."
See those magic words, "liquidity problems"?? That's a nice way of saying inability to PAY ONE'S BILLS ON-TIME or WHEN and IF THEY COME DUE, which then leads to insolvency which ends in BANKRUPTCY. It's in their own words. They are teetering on being ill-liquid.
Look at the massive O/S share count (and they recently upped the available shares to 2 BILLION on a 1.3 cent stock, a joke and past desperation IMO)
10-Q, PAGE 9:
"Fully diluted shares outstanding were 659,543,477 and 323,296,916 for the three months ended September 30, 2014 and 2013, respectively and 605,015,919 and 336,682,241 for the nine months ended September 30, 2014 and 2013, respectively."
This "company" essentially exists as nothing more than a share dilution machine IMO. A hallmark of many OTC penny stocks. Look at those numbers, more than 300 MILLION shares, more than a doubling of shares O/S in less than a 1 yr period. And for what? What trial(s) progressed or were advanced- there entire "claimed" business and purpose?
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