March 28, 2021 5:16pm

Maintaining Sell: 

Biostage (BSTG) closed flat again at $1.50 with 10 shares traded after Thursday’s flat at $1.50 with 39 shares traded, Wednesday’s -$0.04 to $1.50 with 688 shares traded, Tuesday’s +$0.04 to $1.54 with 1,001 shares traded after Monday’s +$0.05 to $1.50 with 2001 shares traded (“pumping and promoting” again?).

Question#1: Is there more of a reason to rank BSTG, as a “zombie” company? <read more>

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” regarding 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”?

Question#6; WHERE have all these enquiries emanated from – auditors should ask Shunfu Hu, VP of business development and operations as to the displacement or lost or conveniently disposed of past accrued liabilities? 

MINORITY PUBLIC shareholders are waiting, watching and weighting responses to MAINTAIN their RIGHTS.

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.