Replies to post #106565 on US Stem Cell Inc (USRM)

[Dragon Lady]

Guess I was wrong. LOL. A Shamwow viva la URSM 3.0 coming soon. I wonder what it’s gonna be ? What could the next great thing be this time around ? The only people buying shares are Miguel’s friends. This is as dead as dead. Now. Myocells last patent expired in 2012 I believe. So it’s worthless. The ones that developed it are under no obligation to not share it.

So an on demand note eh? They must’ve been late several times prior to change terms or someone at the bank used Google and discovered the Company is absolutely worthless.

Most likely going to issue Brenda new shares in new Company. A massive reverse split is coming though. Need this below 50m o/s and give Brenda 100m shares to be made whole to get her money back that she has been owed for so very long.

Yepper - here's the Seaside note owed gem. Old man Murphy is "maybe" pulling his personal collateral he pledged for that note, which is the ONLY reason the bank put up with "carrying it on the books" for as long as they have for this sham show -

SEE THAT - the note/loan (now a DUE ON DEMAND NOTE = they can "call it due" ANYTIME, ANY REASON, PAY of FILE BK kinda "demand" !) for a cool $MILLION owed to Seaside Bank FL is "up for review in May 2022". Uh....that be like next month :)

$34K or so TOTAL CASH in their bank account and over a $MILLION accounts payable and a now ON DEMAND "note" to a good sized bank for a $MILLION and they owe Brenda Leonhardt AT LEAST $1.4 million and climbing as it accrues DEFAULTED INTEREST of 18% annual =

THEY BE BK by all generally accepted accounting principals I'm familiar with LOL !! Like PAST THE BK RED-LINE - any bank would laugh these clown out the door in a NY Nano Second !!

PAGE 8:

QUOTE:

"As part of such efforts, we may seek loans from certain of our executive officers, directors and/or current shareholders. We may also seek to satisfy some of our obligations to the guarantors of our loan with Seaside National Bank & Trust, or the Guarantors, through the issuance of various forms of securities or debt on negotiated terms.

On January 3, 2018, the Company renewed the loan with Seaside National Bank and Trust extends the maturity date to May 18, 2020, all other terms and conditions remain unchanged.

On May 18, 2020, the Seaside loan was turned into a Demand Note with no fixed maturity date but with a re-documentation requirement every four years. The new re-documentation deadline is May 2022. However, financing and/or alternative arrangements with the Guarantors may not be available when we need it, or may not be available on acceptable terms.



If we are unable to secure additional financing in the near term, we may be forced to:


?

curtail or abandon our existing business plans;



?

reduce our headcount;



?

default on our debt obligations;



?

file for bankruptcy;



?

seek to sell some or all of our assets; and/or



?

Cease our operations.



If we are forced to take any of these steps, any investment in our common stock may be worthless."



COMMON STOCK MAY BE WORTHLESS LMAO !!

Like how much more worthless can it be than today - well I guess ZERO kinda worthless aka .00000X per share worthless :)

Oh - and they paid a $MILLION in interest on crap loans and borrowing in 2021 as Miguel shows up when, once every few weeks to a $100 buck a month rent-a-desk to DO WHAT exactly ??????

QUOTE:

"Interest Expense

Interest expense during the year ended December 31, 2021 was $1,000,148 compared to $488,369 for the year ended December 31, 2020. Interest expense primarily consists of interest incurred on the principal amount of the Northstar loan, the Seaside National Bank loan, the Capital Lease with GACP, accrued fees and interest payable to the Guarantors, imputed interest on non-interest bearing debt, the amortization of debt discounts and non-cash interest incurred relating to our issued convertible notes payable. There was nominal change in interest year over year."

What a shit show - same old broken Miguel bad record, playing the same bogus bad tune :)