Replies to post #17650 on US Stem Cell Inc (USRM)

[Poor Man -]

Words and allegations such as Management WASTE, FRAUD, SELF-DEALING, GOING-CONCERN STATUS, INSOLVENT, BARELY SURVIVING, TENUOUS (at best) FINANCIAL CONDITION THAT HAS ONLY WORSENED, REQUEST FOR COURT APPOINTED RECEIVERSHIP, ACTED BOTH NEFARIOUSLY AND RECKLESSLY, ANNUAL SALARY EXCEEDING COMPANY MARKET CAPITALIZATION, PROBABILITY THAT FRAUDULENT ACTIVITY HAS OCCURRED, IMMINENT DANGER THAT PROPERTY WILL BE CONCEALED, LOST, OR DIMINISHED IN VALUE, POTENTIAL SIDE DEALS, FIRE SALE, OR FAILURE TO MAINTAIN CRITICAL SCIENTIFIC PROTOCOLS, PROVEN INEPT AT MANAGING THE BUSINESS, NEED TO SAFEGUARD ANY REMAINING ASSETS...and on and on and on..it's all there in the lawsuit as filed)

The complaint is just remarkable. Former directors that have known Miguel and Kristy for years are making serious allegations -- including Fraud and Self-Dealing -- about their conduct and capabilities. It's worth listing those words in the Northstar complaint describing management in order by number.

1) WASTE,
2) FRAUD,
3) SELF-DEALING
4) GOING-CONCERN STATUS,
5) INSOLVENT,
6 BARELY SURVIVING,
7) TENUOUS (at best) FINANCIAL CONDITION THAT HAS ONLY WORSENED,
8) REQUEST FOR COURT APPOINTED RECEIVERSHIP
9) ACTED BOTH NEFARIOUSLY AND RECKLESSLY
10) ANNUAL SALARY EXCEEDING COMPANY MARKET CAPITALIZATION,
11) PROBABILITY THAT FRAUDULENT ACTIVITY HAS OCCURRED
12) IMMINENT DANGER THAT PROPERTY WILL BE CONCEALED, LOST, OR DIMINISHED IN VALUE,
13) POTENTIAL SIDE DEALS, FIRE SALE
14) FAILURE TO MAINTAIN CRITICAL SCIENTIFIC PROTOCOLS
15) PROVEN INEPT AT MANAGING THE BUSINESS, NEED TO SAFEGUARD ANY REMAINING ASSETS

In my own opinion, these are not just serious civil matters, but the alleged fraud could be a criminal offense. This is also a problem for the toxic financiers, since in the event this goes to a bankruptcy court, the judge could vacate those contracts, especially if fraud was committed.