Replies to post #176140 on DD Support Board and Research Team

[nodummy]

re: BRTXQ

They owed a lot of money to a lot of toxic lenders.

According to a lawsuit filed by Coventry Enterprises LLC against BRTXQ on February 7, 2020, BRTXQ had overdue Notes owed to Coventry and starting in January 2020, Coventry began making a series of requests for conversions and each time they were told by BRTXQ that no shares were available despite BRTXQ raising its A/S from 300,000,000 to 2,000,000,000 in January 2020.

https://www.scribd.com/document/472664348/123116358997

On January 31, 2020, Coventry put in a request for BRTXQ to reserve 2,136,015,106 shares for debt conversions for 3 notes held by Coventry (a $205,000 Note from January 23, 2019, a $105,000 Note from September 12, 2019, and a $110,250 Note from October 14, 2019).

Conventry asked for a restraining order to prevent BRTXQ from converting any more stock for the other lenders until they met their obligation to Conventry.

Apparently, Conventry felt that BRTXQ was showing favoritism to the other Note holders, some of which quickly became participants in the suit as intervenors:

Power Up Lending Group LLC
EMA Financial LLC
Eagle Equities LLC
Auctus Fund LLC

The group came to an agreement for BRTXQ to do a 1:1,000 reverse split in March of 2020, but obviously BRTXQ didn't get approval from FINRA.

BRTXQ filed for Bankruptcy on March 20, 2020 still owing money to all of the Note holders listed above plus several others mentioned below.


Who was getting the shares that quickly shot the O/S up from under 300,000,000 to nearly 2,000,000,000 in January and February of 2020 I'm not sure.

It was likely a combination of Power up, EMA, Eagle, Auctus, and the other toxic lenders in green below with Conventry getting left in the dust.

According to the Bankruptcy petition quite a few toxic lenders are owed money:

https://www.scribd.com/document/472664288/Bio-Restorative-Bk

Auctus Fund LLC is owed $3,261,819
Pharos Advisors is owed $1,200,000
K&L Gates LLP is owed $706,155
GS Capital Partners LLC is owed $649,580
Dr Wayne Marasco is owed $550,000
Odyssey Capital Funding is owed $423,012
Eagle Equities is owed $394,875
Gladstone Corp is owed $368,250
SBI Investments LLC is owed $326,701
Labrys Fund LP is owed $275,762
LG Capital Funding LLC is owed $266,651
Crown Bridge Partners LLC is owed $266,076
Coventry Enterprises LLC is owed $252,543
HRW Legacy LLC is owed $233,381
EMA Financial LLC is owed $211,377
JSJ Financial LLC is owed $210,058
GW Holdings LLC $187,390
Gene M Bernstein is owed $163,660
Lance Alstodt is owed $161,350
Harvey & Melody Alstodt is owed $152,082


That's 13 total toxic lenders:

Power Up Lending Group LLC
EMA Financial LLC
Eagle Equities LLC
Auctus Fund LLC
Coventry Enterprises LLC
GS Capital Partners LLC
Odyssey Capital Funding
SBI Investments LLC
Labrys Fund LP
LG Capital Funding LLC
Crown Bridge Partners LLC
JSJ Financial LLC
GW Holdings LLC

So basically with so many toxic lenders owed money it was a race to convert debt in January and February of 2020 and the A/S was maxed out in no time with everybody still owed money at the end.


Since Auctus Fund has by far the biggest amount of debt, it makes sense that Auctus is taking the lead in the Bankruptcy from the lenders side, but the only "saving" they will be doing is for themselves. I doubt this turns out very well at all for the common shareholders in the end.

[nodummy]

VCBD - interesting that the O/S has gone up by 66 million since they filed for bankruptcy.

I see in the 10Q filed going into the weekend that the O/S is now 170,937,751 up from 104,666,930 when the petition was filed.


Usually you don't see any changes to the O/S during a bankruptcy.

Something seems very dirty about what is going on with VCBD.

Now I can't help but wonder if VCBD insiders intentionally neglected their responsibility of informing FINRA about the bankruptcy to avoid getting the Q so they could continue to convert debt into stock despite asking the court for protection against those very same debt holders.