May 21, 2021 12:15pm
BSTG “could NOT complete the filing of its Q1 reporting”
Do investors think – something continues to be amiss? Wonder if they’re “cash broke”? <read more>
Biostage (BSTG) is trading flat at $1.30 after closing Thursday flat at 41.30 with 1 share traded, Wednesday’s +$0.16 to $1.30 with 930 shares traded, Tuesday’s -$0.16 to $1.13 with 250 shares traded, Monday’s +$0.15 to $1.30 with 2,642 shares traded and last Friday’s flat with 54 shares traded.
Biostage (BSTG) SEC filing: “could not complete the filing of its Quarterly Report on Form 10-Q for the period ended March 31, 2021 due to disruptions in staffing. This in turn, delayed the Company’s ability to obtain and compile the information required to be included in the Company's Form 10-Q, which delay could not be eliminated by the Company without unreasonable effort and expense. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended, the Company will file its Form 10-Q no later than the fifth calendar day following the prescribed due date”. Do investors think – something continues to be amiss? Their interim financial officed did get Q4 and FY20 “umbers” out, is there an issue of “cash position” behind the “hide” or late-filing?
Question#1: WHY is BSTG NOT filing the Q1 earnings’ report? Their interim financial officer, Peter A. Pellegrino Jr. of Point Providence Consulting has been appointed since 4/8/21 and still was NOT able to produce a Q1 report? Are there other issues – like being out of cash or soon to be?
Question#2: What is there to invest in, an IND a year old with NO clinical trial, NO management, barely any employees and huge overhead (buildings etc.) expense with WHAT capacity to finance? With only $1 million left (12/31/20) in the “till” WHAT is the runway with a “spend” and “net cash in operations of $4 million during the year ended 12/ 31/20”. Don’t forget the PPP loan remaining as DEBT ($0.4 million).
Question#3; WHO or WHAT “entity” is promoting and pumping the share volume to stimulate the pricing as the stock barely trades on its own?
MINORITY PUBLIC shareholders are waiting, watching and weighing responses to MAINTAIN their RIGHTS.