~~~I Agree!!MASSIVE TOXIC DILUTION, NEW LAWSUIT, POSSIBLE R/S and/or an INCREASE in the A/S,,, Oh MY!! ...just to name a few HOT Topics! +++BMSN is on the verge of going Bankrupt!!!
These are NOT the Actions of a CEO that can be TRUSTED!!
Current New Lawsuit! I'll Post it since some asked for Proof!
http://dockets.justia.com/docket/new-york/nysdce/1:2013cv02466/410513/ BMSN stands accused of Willful Misconduct & Securities Fraud,, by Purposely not releasing the 103,030,303 shares to Starcity Capital,LLC, and then Maliciously Dumping 100's of Millions more shares (Dilution) on the Market, knowing BMSN would make more $$ per share if they Dumped before Starcity Capital,LLC could dump their 103,030,303 Shares!!This is not going away by just "giving them their shares!! ROTFLMAO !!!
$1,300,000+++ & HUGE Court Costs, & the 103,030,303 shares owed get dumped on the BMSN Market, soon, & possibly 100,000,000's+ more shares on the BMSN Market,(Remember in the lawsuit the first 103,030,303 shares = only $17,000 of the Original Starcity purchased for $30,000, the portion of a $700,000 promissory note owed by BMSN!!) & there could end up possible Prison time for all involved @ BMSN!!
Then, to top it off, more shares could be Diluted to pay for this ,,,, & to raise more $$ ($40 Million++) to get the funding for the "Products" BMSN hopes to research to get to Market sometime after 2015 !!! WOW,, that is Crazzzy! + I didn't even mention the R/S possibility or the raising of the A/S to 3 Billion once the last of the 2 Billion A/S is Maxed out!
&&& Who knows how many other Investment Co's they did this to !! Those might start Pop'n up like Dandelions !!!
Here is the "jist" of the New BMSN Lawsuit; (You have to log into PACER to get all 264 Pages of it!)
2. On December 12, 2012, Starcity purchased for $30,000 a portion of a $700,000 promissory note owed by BMSN to the Sherman Family Trust from the Sherman Family Trust. In a document entitled Securities Transfer Agreement, dated December 12, 2012 (the “STA”), by and between BMSN, Starcity and the Sherman Family Trust, BMSN represented and covenanted to Starcity, among other things, that it would honor specific conversion rights, and that upon the exercise of such conversion rights, BMSN would cooperate with the issuance and removal of restrictions on stock issued pursuant to conversion, including specifically that BMSN would provide an opinion letter to clear any restrictions on stock issued thereunder, and that BMSN had been complying and would continue to comply with its filing requirements with the Securities and Exchange Commission (the “SEC”). 3. On January 2, 2013, Starcity exercised its right to convert $17,000 of its debt into 103,030,303 shares of BMSN (the “Conversion Notice”). The Conversion Notice took advantage of extraordinarily low public market prices of BMSN common stock, as was Starcity’s right under the STA. The next day, on January 3, 2013, Defendants, as they were required to do, 1 Deposit/Withdrawal at Custodian (“DWAC”) is an electronic book-entry method of transferring shares that permits the movement of shares to or from a company’s transfer agent electronically using the Depository Trust Clearing Corporation (“DTCC”). DTCC is a member of the U.S. Federal Reserve System and a registered clearing agency with the SEC. A DWAC results in the crediting or debiting of shares to or from DTC’s book-entry account on the records of the company maintained by the company’s transfer agent. Case 1:13-cv-02466-PGG Document 1 Filed 04/12/13 Page 2 of 264 issued to Starcity 103,030,303 shares of BMSN’s common stock, with such ownership represented by BMSN Certificate Number 2688 (the “Starcity BMSN Stock Certificate”). 4. Between January 2, 2013 and February 27, 2013, Defendants, with the intent to prefer their own personal and other stockholders’ stock positions ahead of Starcity’s lawful stockholder position in BMSN, and to the knowing detriment of Starcity, used false promises and deception to trick Starcity into surrendering its Starcity BMSN Stock Certificate based on the false promise that such shares promptly would be transmitted electronically to Starcity’s brokerage account via DWAC. For weeks after Starcity surrendered its Starcity BMSN Stock Certificate, and while the price of BMSN stock was trading at similar very low prices, Defendants continuously and falsely reassured Starcity that such DWACtransmission would be made promptly. All the while, Defendants, and each of them, knew that Defendants intended to construe the surrendering of such Starcity BMSN Stock Certificate as a cancellation of the Conversion Notice, rather than as simply a transmutation of the form of the Starcity BMSN Stock Certificate from certificate to electronic transmission. The true intention of Defendants was only revealed many weeks later, when the public price of BMSN’s shares had recovered and it was too late for Starcity to convert the shares, yet again, at the extraordinarily low prices that had been prevailing during the referenced period. 5. BMSN cancelled the Starcity BMSN Stock Certificate, and wrongfully refused to transmit via DWACthe 103,030,303 shares to Starcity and otherwise refused to recognize or acknowledge Starcity’s ownership of its 103,030,303 shares of BMSN common stock. Starcity has made multiple demands for the replacement of its Starcity BMSN Stock Certificate or electronic equivalent reflecting its ownership of its BMSN shares, which demands were flatly rejected and refused by the Defendants, Koos and BMSN. Case 1:13-cv-02466-PGG Document 1 Filed 04/12/13 Page 3 of 264 6. As a direct and proximate result of such wrongful conduct, Starcity suffered monetary damages which it seeks to recover from the Defendants, and each of them, in an amount to be determined at trial, which Starcity anticipates will be in excess of $1.3 million.
___________ As always,, the above Post is "Just My Opinion!"
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