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Biostage, Inc. (BSTG)

Other OTC - Other OTC Delayed Price. Currency in USD
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4.55000.0000 (0.00%)
As of 02:58PM EDT. Market open.
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  • H
    Henry
    The Biostage (BSTG) Chronicles: yet another CFO, is he the seventh (7th) in five years? - Joseph Damasio
    Bearish
  • H
    Henry
    Puff/Pump and Promote: Maintaining SELL
    Biostage (OTCQB: BSTG) yesterday closed down -$0.40 to $5.00 with 208 shares traded after Wednesday’s flat, Tuesday and Monday’s flat traded 0 flats and last Friday’s $0.00 with 0 shares traded, <3 mo. Average = 1,054 shares>
    • Its BOD approved on 7/28 amending and restating their Certificate of Incorporation to affect a reverse split of the issued and outstanding common stock at a ratio of not less than 1-for-1.25 and not greater than 1-for-5. What about all those PPM (private placements) as an offering follows?
    • BSTG seems to have the ONLY avenue to finance to utilize non-U.S. Chinese investors? Are we in favor of Beijing funding and continue to control BSTG in our own country? Another question, makes one wonder, Newbridge Securities?
    • How much lipstick is a lot on this pig with an almost 4-year-old IND and NO clinical trial initiation?
    • WATCH and be ready for a BIG reverse of shares to enable offering from multiple private placements as it tries to facilitate an offering with Newbridge Securities?
    Bearish
  • H
    Henry
    The Biostage (BSTG) Chronicles: its BOD approved on 7/28 amending and restating their Certificate of Incorporation to affect a reverse split of the issued and outstanding common stock at a ratio of not less than 1-for-1.25 and not greater than 1-for-5. What about all those PPM (private placements) as an offering follows?
  • H
    Henry
    Maintaining Sell:

    Biostage (BSTG) closed up +$0.09 after Wednesday’s -$0.14 to $1.41, Tuesday’s +$0.14 to $1.55 and Monday’s +$0.04 to $1.41.

    Question#1: Consider the attrition rate of the past five (5) years: two (2) CEOs, one (1) CMO who became president, one (1) CFO, one (1) interim CFO who walked-out over irregularities in an audit review, three (3) controllers, a VP of Finance who left without notice and reappeared as a consultant, five (5) members of the board of directors of which four (4) were on the audit committee, three (3) other operating VPs and twenty (20) scientific employees.
    Question#2: Is there a pattern here … and WHO is left with biotech experience to focus the clinical trials that have YET to be initiated after an IND approval?
    Question#3: Does BSTG have on-going CONFLICTS OF INTEREST as pre-clinical research is being conducted at Connecticut Children’s hospital, the CEO owns shares, the hospital owns shares and the principal investigator own shares?
    Question#4: Are these issues transparent … also do these events constitute a need of oversight by regulatory bodies. Mrs. bin Zhao of Weston, Mass. as the major stocker holder and head of DST Capital, BSTG’s funder: WHY are you not overseeing the disorder wreaked by the current management team of three (3), who are also the only remaining employees?
    Question#5: How is BSTG’s president going to communicate with his BOARD and private placement (PP) investors? The commerce department announced that it would ban U.S. business transactions with China-owned social apps WeChat on Sunday.
    Question#6: Don’t U.S. public shareholders deserve accountability!
  • H
    Henry
    Biostage (BSTG) closed up +$0.16 to $1.33 after Wednesday’s -$0.18 (was down to $1.00, Wednesday noon) after Tuesday’s -$0.81 and last Monday’s -$0.04 (was as low as -$0.20) post the previous Friday’s -$0.45. Keep writing those checks to “PUMP” the share price – it’s costing you more and the less goes to the operations of the company.

    Question 4: What JUSTIFIES BSTG establishing a $0.30 share price increase as BSTG sells 75,000 Private Placement (PP)unregistered shares priced at $4.00; barely any employees left, no clinical trial initiation after an FDA IND approval and a burn rate that exceeds the cash position with a huge debt and quarterly liability overhang. The valuation model explained and defined – WHAT? My foregone reason, to keep past PP shareholders THINKING an increase in value.

    Question 5: What about the terminal death suit that exists? In the documents for the new sale of securities, it states:

    Litigation. “Except as disclosed in the SEC Reports, there is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”) which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Securities or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. Except as disclosed in the SEC Reports, neither the Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company. The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange Act or the Securities Act.”
    Is “Except” a word to disavow the actuality of the pending suit …?
    The term – “going concern”, it’s even more UGLY when all this could have been AVOIDED! Also, remember the strategic plan for “forward motion” that was TOTALLY disregarded.

    There still exist the millions of private placement unregistered shares (priced at $3.20, $3.60, $3.70 and now $4.00) existing FAR beyond the registered outstanding and float shares.
  • H
    Henry
    WARNING: Another PPM -private placement – this one for $5.1 M without a price per share notification.
    Also, the terminal death lawsuit just got settled (4/28) for $6 M by a “broke” company with a PPM – a preferred convertible debt financing.
    A “ZOMBIE” company, WHY BUY this equity with a 3-year-old IND, NO clinical trial initiation, and a precarious financial position dependent on a possible cash infusion?
    Also, WHY the pump of the volume to gain share appreciation – they have to reverse the multiple private placements (was that the sixth or seventh) for a potential/proposed stock offering.
    One positive, Chairman and interim CEO Green shifted the burden of the death suit from management’s responsibility to shareholders with this new settlement with a debt financing.
    Question: Didn’t Chairman and then CEO invite Paola Macchiarini, the individual responsible for the terminal death (to Harvard Apparatus, now Biostage) who is just going on trial in Sweden for similar but, aggravated assault reasons against patients?
    Last question: Has BSTG filed their FDA annual report on their IND to the FDA – which defines its capacity and capability why it can go forward to a clinical trial and their CRO plan forward?
    Bearish
  • H
    Henry
    Maintaining Sell: Questions continue …

    Biostage (BSTG) closed down -$0.04 to $1.50 with 688 shares traded, after Tuesday’s +$0.04 to $1.54 with 1,001 shares traded, Monday’s +$0.05 to $1.50 with 2001 shares traded (“pumping and promoting” again?), Friday’s +$0.13 to $1.45 with 605 shares traded and last Thursday’s +$0.02 to $1.32 with 375 shares traded.

    Question#1: Is there more of a reasons to rank BSTG, as a “zombie” company?

    Question#2: Will BSTG be included, as top U.S. securities regulator on Wednesday adopted measures that would kick foreign companies off American stock exchanges if they do not comply with U.S. auditing standards, and require them to disclose any governmental affiliations. The Holding Foreign Companies Accountable Act, signed into law by then-President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have failed to comply with American auditing standards for three years in a row. The rules also require firms to prove to the SEC they are not owned or controlled by an entity of a foreign government and to name any board members who are Chinese Communist Party officials, the SEC said in a statement.

    The agency fast-tracked the rules around how companies should submit documentation because it was required to issue them within 90 days of the Act becoming law.
    Question#3: WHEN are the 10-K and 10-Q filings to be filed versus due?

    Question#4: WHY is this board of directors in the position of “seeing no problem, hearing no problem, and communicating no problem?

    Question#5: RSM US LLP, will their AUDIT “OPINION” be “CRAYONED” about the MANY operational issues, lack of strategy and focus especially when they “seem” to be “pumping and promoting “the daily share price with stimulated volume”?

    MINORITY PUBLIC shareholders are waiting, watching and weight responses to MAINTAIN their RIGHTS.
  • R
    Rien
    The insiders are buying!
  • H
    Henry
    Biostage (OTCQB: BSTG) Chronicles (continued) ...

    Consider the attrition rate of the past five (5) years: two (2) CEOs, one (1) CMO who became president and was fired, one (1) CFO, one (1) interim CFO who walked-out over irregularities in an audit review, three (3) controllers, a VP of Finance who left without notice and reappeared as a consultant, multiple temporary non-employee ACTING finance managers, five (5) members of the board of directors of which three (3) were on the audit committee, three (3) other operating VPs and twenty (20) scientific employees.

    Never forget that RSM US LLP, their auditors resigned stating that, “the client-auditor relationship between the Company and RSM has ceased. Prior to such notification, RSM had recently served as the Company’s independent auditors through the recent Form 10-Q filing by the Company on May 24, 2021.”

    WHO is the new auditor and were the last two (2) Qs in FY21 audited pre Q4 and FY21 – the last I checked Wei, Wei & Co LLP was NOT licensed in Massachusetts? (From 8-k filing)


    The constant revolving door – operational, leadership ISSUES and organizational stability – shouldn’t these problems be addressed by its interim CEO and new Chairman for investors.

    One last lingering question: WHY the inclusion of a disclosure (from reading) in the 10-K, BSTG has “identified a material weakness in our internal control over financial reporting. Our ability to remediate this, our discovery of additional weaknesses, and our ability to achieve and maintain effective control over financial reporting, could adversely affect our results of operations, our stock price and investor confidence in our company.”

    Are there patterns here?

    Maintaining SELL
    Bearish
  • H
    Henry
    Maintaining Sell:

    Biostage (BSTG) closed down -$0.06 to $1.10 with 3,202 shares traded after Friday’s -$0.04 to $1.16 with 700 shares traded, Thursday’s -$0.01 to $1.20 with 2,600 shares trade, Wednesday’s -$0.06 to $1.21 with 400 shares traded and last Tuesday’s -$0.10 to $1.15 with 11,900 shares traded. Reiterating the questions …

    Question#1: Could RSM US LLP suffer of “serious and serial failures” in their audit of BSTG?
    Questio#2: Is there, pressure on the partner to meet internal client retention expectations versus their DUTY to CHECK the RELIABILITY of the liabilities and accounts payables to achieve a rectification of PAST and NOT CARRIED FORWARD accrued and current liabilities?
    Question#3: Shunfu Hu, VP of business development and operations” might” you have conveniently “lost, misplaced or discarded” past and pertinent billings that should have come to the attention of the auditors?
    Bearish
  • H
    Henry
    Maintaining Sell:

    Biostage (BSTG) closed up +$0.09 to $1.45 with 7,282 shares traded after Friday’s -$0.12 to $1.36 with 110 shares traded after Thursday’s +$0.08 to $1.48 with 3,593 shares traded, Wednesday’s -$0.0285 to $1.39 with 786 shares traded, Tuesday’s +$0.06 to $1.42 with 3,122 shares traded and last Monday’s +$0.01 to $1.36 with 545 shares traded.

    Question#1: WHAT is the “game plan” for the nine (9)-month-old IND to start clinical trials?
    Question#2: is there an exit or endpoint to this scenario as the share price pops and dives to justify or prop the last $4.00 private placement?
    Question#3: Could there also be a … VISA involvement issue here - the United States EB-5 Immigrant Investor Visa Program offers foreign nationals and their unmarried children under 21 the ability to receive permanent residency to the USA. The minimum investment amount for EB-5 is $900,000 USD in a USCIS approved regional center’s project. Could this be another reason behind BSTG’s investment?
    Bearish
  • D
    D.J.
    Looks like $BSTG has enough money to get to the INDs next year. It should fill the gap up to $6 pretty quickly. $13 after that. Still a bargain. I own this one and have since 2016. Staying long in this one. All the way to FDA approval and beyond. (3-4 yrs to market) They will get the voucher they seek and that is worth a fortune. Happy trails.
  • B
    Bet
    Read the news CHina is getting in on it look at$5.00 soon
  • o
    orenr
    good news I bought on time . glad I took my average down by buying last week
  • H
    Henry
    BSTG was just down to $0.81 Under $1.00 that will eventually subject the company to be de-listed fron the OTC Nasdaq. Biostage (BSTG) closed up +$0.30 to $1.70 (with 8998 shares traded) after Tuesday’s flat at $1.40 (1465 shares traded), Monday’s -$0.22 to $1.40, Friday’s +$0.29 to $1.62 and last Thursday’s +$0.16,

    Keep “PUMPING” the share purchases – it’s costing you more and the less goes to the operations of the company.
    More deceptions, check the website – Sumati Sundaram, PhD is NOW the associate director preclinical & translational development at bluebird bio, Jeff Bouchard, Director of Engineering, Manufacturing and Quality has been gone for months (since March).

    There still exist the millions of private placement unregistered shares (priced at $3.20, $3.60, $3.70 and now $4.00) existing FAR beyond the registered outstanding and float shares. SO again, why are companies with ‘going concerns”, measured by continual losses, development failures, a filed IND with NO clinical trial follow-up and continuous inflated financings – still listed?
    Investors want to KNOW …Transparency is very important because investors NEED to understand what's going on?
  • o
    orenr
    glad to see action today. somebody buy no matter what price. glad I bought more at 1.5
  • H
    Henry
    Old news as regurgitated, “New Paper Shows Biostage's Esophageal Implant Regenerates the Esophagus in Piglets”. BSTG CAN’T treat birth defects in the esophagus in babies until they complete trials from a two (2) year old IND which have yet to start. Dr. Christine Finck, Surgeon in Chief, Connecticut Children's Medical Center is NOT an independent investigator, she is paid through a grant awarded to BSTG and is also a share and option holder as a member of their scientific board. Also as stated, “Connecticut Children's Medical Center is also an investor in Biostage.” I wouldn’t trust as they continue to operate under a “cloud” after their insurance company rejected their claim for reimbursement of legal fees and terminal death suit costs. They are also DESPARATE to raise money to operate and reduce possible personal liabilities of management and those they had indemnified.

    Maintaining SELL
    Bearish
  • A
    Anonymous
    Can anyone give an update on what is happening with BSTG? They are terrible in update shareholders/investors. The items on their website are so outdated (2016 videos and and articles). It is sad as an owner of this company. Their media interface is non-existent. Let’s step it up a notch people!!!!!!!
  • H
    Henry
    The Biostage (BSTG) Chronicles: Friday traded 19,982 (+$0.45 to $3.05) following Thursday trading 3,137 shares, Wednesday traded 18,472 shares traded (+$0.16 to $2.21), Tuesday closed up +$0.28 with 10,590 shares trade after Monday’s +$0.68 with 38,354 shares traded following last Friday’s -$0.07 with 570 shares traded.

    Questions to consider:

    Today is just another fact, how the share trades with the “push/promote” - another typical example,
    WHAT is BSTG’s value proposition, after all the share price pumping – NO clinical trial?
    WHAT is the end game of “pumping” the share price as the float is MINIMAL compared to the ever-OUTSTANDING shares?
    Is a REVERSE in order and a possible SALE of the public listing?
    WHERE is the SEC?
  • G
    GodddLikeee
    why the jump today?
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