LAST SEC 10-Q, "GOING CONCERN/LIQUIDITY" WARNINGS:
AND...and..and THAT IS DESPITE THE BAD REALITY that USRM spends almost nothing on R&D, for a self-proclaimed supposed "WORLD LEADING MEDICAL RESEARCH AND DEVELOPMENT" blah blah blah BS if you ask me. They ain't spending enough on R&D to develop a new form of a tongue depressor and get it to an FDA APPROVAL as a "medical device"...what....about $1K a month in total R&D...and they "try" and claim they're some "WORLD LEADER" in stem cell "research"...LOL...REALLY ????? Beyond comical to me...a total farce....it takes $10's of MILLIONS to even be a "player" in medical R&D for something as serious as "stem cells"....
AND..and...and...seems that no matter what them "top line" revenues turn out to be...they still teeter on being near CASH BROKE, with increased "accounts payable" of $1.4 MILLION and w/ only about $900K cash left, DESPITE continually using pay-day like "factoring loans".
They pay-out, just to "THE TWO", Tomas and Comella, around $1.7 MILLION annually in "base salaries" plus LARGE CASH BONUSES, even as they're not paying their most immediate due bills, let alone long terms debts and numerous NOTES OWED, etc. Freaking almost 50% of their "top line" revenues goes to pay TWO PEOPLE, and they only have "7 full time employees" per their SEC filing and spend ALMOST NOTHING on R&D, about a lousy $1K a month, and they still can't make-it financially w/o someone getting "financing" or selling assets, or other accounting gimmicks...SEC filings prove it...it's just the facts....
"NOTE 2 – GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS
The accompanying 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 financial statements during nine months ended September 30, 2017, the Company incurred net losses of $3,828,368 and has a working capital deficit (current liabilities in excess of current assets) of $5,304,333. 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 primary source of operating funds in 2016 and 2017 has been from revenue generated from sales and cash proceeds from the sale of common stock and the issuance of convertible and other debt. The Company has experienced net losses and negative cash flows from operations since inception, but expects these conditions to improve in 2018 and beyond as it develops its business model. The Company has stockholders’ deficiencies at September 30, 2017 and requires additional financing to fund future operations.
The Company’s existence is dependent upon management’s ability to develop profitable operations, to obtain additional funding sources and realize revenues from the Asset Sale and Lease Agreement described herein. There can be no assurance that the Company’s financing efforts or revenues realized from the Asset Sale and Lease Agreement 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."
ON TARGET FOR OVER A $3 MILLION LARGE LOSS AGAIN this year...AND, they sold one of the only "Assets" they had- w/o that cash, their cash line would be close to nothing by now...they don't "make it" as a stand alone biz, simple as that, that's what a "GOING CONCERN WARNING" and ESPECIALLY “LIQUIDITY WARNING”..means...
PAGE 39, SAME 10-Q:
"At September 30, 2017, we had cash and cash equivalents totaling $956,615. However our working capital deficit as of such date was approximately $5.3 million. Our independent registered public accounting firm has issued its report dated March 15, 2017 in connection with the audit of our financial statements as of December 31, 2016 that included an explanatory paragraph describing the existence of conditions that raise substantial doubt about our ability to continue as a going concern and Note 2 of our unaudited financial statement for the quarter ended September 30, 2017 addresses the issue of our ability to continue as a going concern."
THEMS THE FACTS...and it don't look good to me... I mean what the H has changed since mid 2010...what? ANY MONEY that comes in, for the most part somehow vanishes to "SALARIES" and "BONUSES" and "RELATED PARTY NOTES OWED" and to their SG&A "general expense" line for gawd knows what...and to vague entries like, "FOR SERVICES RENDERED"....to who..gawd can only guess....always bleeeding RED, GOING CONCERN, NEEDING TO FIND CASH...never ONE CENT of profit or ROI...not since inception, not since mid 2010 when "THE TWO" took over full control of this train wreck...99% losses to the common shares, "ON THE WATCH" of this CEO..and he just got MASSIVE CASH "BONUSES" in 2017, as the shares sit near rock bottom...at .000033 when split-corrected for the Nov 2015 MASSIVE 1-for-1000 REVERSE SPLIT...
NOW…now…now ADD-IN THE COST OF PAYING, “LARGE DC BASED LAW FIRMS” who last time I checked… I don’t think they work for PENNY STOCK SHARES…the Tomas “common way” of paying the bills per many, many past SEC filings…LOL…noper…I’m gonna “guess” them law firms want CASH ON THE BARREL HEAD..up-front…else…we know worky for you…..
BILLIONS of shares issued in the past 7 years...and the shares still sit near rock bottom..."revenues" haven't amounted to jack crap that I can see...LOSSES..and more LOSSES..for as far as one can see.....CASH LOW...like always...even when "sand bagging" things like delaying the payment of the "accounts payable", bills due in 30 to 45 days typically, and still using high interest "factoring loans" to borrow against all future in-coming receivables.....that's not a financially healthy company...that's desperation mode to me....
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