Replies to post #12247 on BioRestorative Therapies Inc (BRTX)

[trader59]

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.

Once again, here’s the history of this company:

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.

[decogold]

Wow, that's a crazy worst case evaluation. This is going to get really good, soon. It's awesome.....$$$_$$$$

[JOEALE]

Always on point thank stervc

[benjimane]

Bingo stervc! Love the valuation.. Very detailed and thorough as always!!
Thumbs up to you!!

$BRTXQ

[Sirpeter]

Wow there arent enough thank yous for that excellent evaluation StervC...You had to put in a lot of thought and time into doing that

[HNDRXX]

New docs surfacing for BRTXQ https://www.pacermonitor.com/public/case/33077659/BioRestorative_Therapies,_Inc

[elks]

MUST READ POST DD !!!!!!!!!!!!!! BRTXQ

[I ll be back]

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.

Thanks for sharing!

[LETSWIN2020]

Can we see 0.025+ eod and 0.05 tomorrow ??

[greaseball]

Thank you for your time. Always an honor to have you here.

[iflyboats]

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).

[The Whale]

LMAO...here we go again...too funny...$1.20

[JPS02]

At the time of the filing, Debtor has estimated assets of between $50 million and $100 million and liabilities between $10 million and $50 million

Source: https://twitter.com/muladamus/status/1303780701506994176



Go BRTXQ!

[WealthyBuy]

$1.20..VALUATION..FOR..A..BANKRUPTCY..TRASH..STOCK??


IT'S..TIME..THIS..PUMP..AND..DUMP...GETS..SHUTS..DOWN

[decogold]

This would look like proper evaluation still, correct, STERV?

[TheFinalCD]

worst case

[BeamMeUpScotty]

Let’s also remember that BRTXQ has $16.9m in Net Operating Losses which can be used going forward.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157491233

[doogdilinger]

KAAAAAAAAAAAAAABOOOOOOOOOOOOOOOOOOOOOM

[BCNstocks]

$BRTX news just hit! >> http://www.globenewswire.com/news-release/2020/11/20/2130866/0/en/BioRestorative-Therapies-Emerges-from-Chapter-11-Reorganization.html

$BRTXQ $BRTX

[DiviningRod]

Stervc, Any more details on your ref: to the $16.9M tax NOL carry forward not included in their valuation?

[Playinforkeeps]

How about BIG FAT JUICY PR?