March 31, 2021 8:19pm
Biostage (BSTG) could not complete the filing of its Form 10-K for the period ended 12/31/2020 due to disruptions in staffing… delaying their ability to obtain and compile the information required to be included in the Form 10-K, which delay could not be eliminated … without unreasonable effort and expense. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended … BSTG will file its Form 10-K no later than the fifteenth calendar day following the prescribed due date. I haven’t been wrong, is there more to this “story line”? <read more>
Maintaining Sell, questions continue ...
Biostage (BSTG) closed down -$0.035 to $1.34 with 295 shares traded, after Tuesday’s -$0.125 to $1.375 with 758 shares traded, Monday’s flat at $1.50 with 25 shares traded, Friday’s flat with 10 shares traded and last Thursday’s flat at $1.50 with 39 shares traded.
Question#1: WILL BSTG’s management and BOD along with its auditor RSM US LLP explain IN DETAIL the reasons behind the late filing. Doesn’t it seem like a pretty “flimsy” excuse for NOT filing?
Question#2: WHY does the BOD and its newest member, Herman Sanchez support the current management team?
Question#3: Are their MORE issues related to accrued liabilities NOT being recorded and WHAT about the previously awarded PPP loan coming due?
Question#4: Is RSM US LLP still the auditor, notice there was NO statement in the SEC filing?
Hyperlink: SEC Form NT 10-K
SEC filing reference: https://app.quotemedia.com/data/downloadFiling? webmasterId=101533&ref=115764620&type=HTML&formType=NT+10-K&dateFiled=2021-03-31&cik=0001563665&CK=1563665&symbol=0001563665&companyName=Biostage
MINORITY PUBLIC shareholders are waiting, watching and weighting responses to MAINTAIN their RIGHTS.