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The 10-K is out! I would strongly recommend any of you bagholders (I mean longs) to take the time to read this filing. It is astounding the things this company , its management team , executives and Board have gotten way with and continue to get away with. All the while a few MORONs keep pumping it. For now I'll just mention a couple of interesting facts in the 10-K. On page 27 it states "In November 2019, we commenced our first clinical study with PURE EP System, and, to date, we have not completed a clinical trial of our product." PureEp was cleared by the FDA in summer 218 and as of this 10-K filing March 2021 "WE HAVE NOT COMPLETED A CLINICAL TRIAL OF OUR PRODUCT" With respect to the active Jefferies ATM- on page 52 "From August 24, 2020 through December 28, 2020, we sold an aggregate of 424,357 shares of our common stock under the Sales Agreement for proceeds of $2,228,000, net of expenses of $222,397 inclusive of initial offering expenses of $146,704. From January 1, 2021 to March 12, 2021 we sold an aggregate of 251,720 shares of our common stock under the Sales Agreement for proceeds of $1,300,285, net of expenses of $40,215. As of March, 12, 2021, we had capacity to issue up to $41,191,020 million of common stock under the Sales Agreement." As of last reporting period Jefferies had sold 150k shares for BSGM. Not only did they continue to sell stock through the end of 2020 but BSGM sold 250k shares via the ATM from Jan 2021 up until last Friday. Check your prices boys and girls. While Londoner was telling everyone they were in great cash shape and Robbie Car Guy was pumping here that the ViralClear debacle actually left BSGM in better financial shape , the company was selling stock at $5s and INTO THE $4s!!! King pumper charlatan insisted when the Jefferies ATM was announced that no sales would be made in the single digits. The ATM was to sell stock at higher prices after good news he said. Is it any wonder this thinly traded illiquid stock cant get out of its own way? The company is in there selling. I guess no institutions have come knocking. If the company is making $4-$5 sales why hasnt an institution stepped up and bought a block from Jefferies? What happened to the Jefferies roadshow attendees? And what about Car Guys claim that Jefferies analyst wpould recommend Bioshit after 45-60 days post ATM announcement. Total BULLCRAP as usual from him. Allow me the pleasure to remind you again what I said in July after the Shareholders Rights Plan joke was announced. On July 14 2020 with BSGM at $7.25 shortly after they did an $8 secondary down from $11, the company proclaimed that the shares were undervalued and they needed to protect themselves from activist shareholders. Hence the Shareholder Rights Plan. I said then that the low share price was a result of self inflicted wounds including multiple secondary's and NOBODY was going to accumulate shares and go hostile.. The same company that said at $7.25 the shares were undervalued have been selling stock in the $4s and $5s. Really? If you want to know where all the money is going read the 10-k. You will see almost nothing about sales , revenues and profits. You will find a great deal about RISKS poor execution, delays ,expenditures to consultants and public relations firms, stock options, grants and giveaways. Executive compensation is not included. That should be released next month. Recall the CEO made $4.9 million last year - the CFO made $2.4mill. Cant wait to see the new numbers. 13 executives , 9 Board members and that doesn't include the ViralClear payroll/Board that took the money and ran. Thats all folks. Very entertaining. |
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Msg # | Subject | Author | Recs | Date Posted |
1616 | Re: The 10-K is out! | Mabel | 0 | 3/16/2021 7:33:31 AM |
1617 | Re: The 10-K is out! | biolurker1 | 0 | 3/16/2021 4:18:26 PM |