Once again, Auctus did not provide $15M of DIP financing, they’re providing just over $700k.
And if this “tech” was worth even remotely close to well over $3B, they wouldn’t be bankrupt over $15M of debt. That is absurd to even suggest as both a credible scenario and a potential valuation. They’ve pitched to companies and venture capitalists in the business of funding these trials for the last 3 years to get started on it, and have failed. Now they’re beholding to a long list of toxic funders (including Auctus, who is in it for themselves) after bloating the O/S on conversions and attempting a failed RS to do more.
Stervc, ran across this company earlier today and spent the last hour digging into it.
At first when I saw the BK history, I nearly walked away until I started digging deeper, and looking at your postings.
Thanks for taking the time to dig through the support docs and provide your take on the company.
After reviewing the BK court docs I would tend to agree with your assessment of a creditor extending $3MM if wasn't something here.
Its folks like you that take the time to share your review that makes it worth the time to invest in a former BK sub-penny stock. A couple million shares here has my interest.
There are a lot of assumptions here that are likely wrong.
"Let's use 50% of the cost of a discectomy or $10,000 per BRTX-100 procedure."
Unless you know something I don't, this is very likely totally, utterly unrealistic. The cell culture process is extremely expensive. Biorestorative licenses the intellectual property to a clinic in the Cayman Islands called Regenexx Cayman (run by the doctors who invented it)—this clinic charges $21,500 for the procedure, and this is without having the recoup the cost of FDA approval. Also, not all back pain patients will be candidates for this procedure. An FDA approved product sold in the US will likely have to be much more expensive, which could cause demand destruction. Biorestorative will also have competition from several other technologies now seeking approval (Mesoblast, Discgenics, one being pursued by the Mayo Clinc).