It’s my understanding that Bioheart has only “3” employees, not “5” as previously stated (a CEO, CSO and an accountant). I’m not sure where the other “2” employees came from. They operate out of a small office with a non-functioning lab. There is nobody in the office capable of pushing a product through the FDA, let alone running a clinical trial. After looking at the bios for the CEO and CSO, who would actually believe they are capable of running this company?
If you call their office, they don’t even have a receptionist to answer the phone - not even an answering service. This is very suspicious for a supposed “legitimate” company who is “fully funded” and running clinical trials.
Bingo, you nailed it. I've been in high tech for almost 20 yrs now, over 9 of those in engineering/Sr mgt of you got it, medical products/drug related products in FDA regulated environments. I can tell you for a FACT that dealing with the FDA is a MONUMENTAL task- we have an entire department to respond to so much as a QUESTION or single FDA "audit" as we can have our entire manufacturing operation shut down by them in a heartbeat- and be out of business ($200 million annual plus in product) in less than a month. If we so much as mislabel a product and ONE UNIT slips out the door- we have to recall EVERYTHING in any lot made within a certain time frame, then "quarantine" all that product in a separate, fenced off area of the warehousing facility, have every case opened and audited, draft a DETAILED response to the FDA, hold meetings with their auditors, explain IN DETAIL all steps we've taken to rectify how the event occurred and how we will prevent it from EVER occurring again, etc. Same for start-up of a new manufacturing line-it's a MONUMENTAL task, even though the rest of our facility is up and running and fully FDA certified and compliant. If we introduce a new drug/product line- we can spend up to a YEAR, with 20 or more specialized engineers, FDA regulatory compliance people- both in the company and specially hired consultants, bio and chem and similar Ph.D. level science people, etc to draft all the needed documents and submittals in the correct format, go through all the process control audits, go through pilot line start up and audit, bring the main line up to speed and eventually manufacture product that is legally salable in the U.S. and/or Euro and similar Asian (Japan, S. Korea) markets, etc. These JOKERS have THREE PEOPLE- none of who have a medical/FDA background yet "claim" to be conducting "trials" etc- NO WAY, NO HOW. The CEO is a freaking "telcom" guy- ZERO medical or FDA experience. One of the "key" board members ran a MASONRY company !
Noticed that recently too. They "scrubbed" two off their web site. They also had several departures from the Board and Sr. Mgt in past several months- RATS jumping off the good ship Bio-hazard, including the dude (who has ZERO med background) who supposedly "founded" or "created" this scam. They own no patents as of now- they either sold them away near worthless or "assigned" them over to Northstar the insider consortium scam that's "trying" to rig together some sort of "finance" deal to keep this gravy train going. Yeah, AMAZING that a vast, "medical" "research" operation is being conducted out of a rented office suite on the 2nd floor, which is smaller than my local dentist office and who's lease is expired in exactly 30 DAYS. Read up (net search) on common penny stock scams- and these dudes hit EVERY LAST one square on the head. SEC and many investor groups have written articles on what to watch out for in the semi-non-regulated via the SEC of the pink sheet, such as frequent PR releases basically about nothing (the pump) such as "CEO is a super guy awards PR put out recently" or the PR "Angel trial deal" but not ONE SHRED about supposed how it's "financed" yet it claims it's "funded", poor record keeping and no qtr reports to public, and SHAZAM - little or no CASH or STAFF yet "claims" of conducting vast operations such as "research" and "medical trials" etc, etc, etc. These dudes are BAD news B A D, bad news. They pumped this with the phony "angel trail" PR probably hoping to bilk their last few pennies out- as the cash goes to zero. Not even an entry on the cash line of the balance sheet- NEVER saw that one before. My local dry cleaner if he/she did a balance sheet needs "operating cash" for daily payroll, rent, etc else they ain't in "business". RUN and sell this load as fast as you can if you own it. It'll be worthless in less than 30 days.