February 9, 2021 11:08am

Wonder why … lack of transparency and fiscal responsibility and what else?

Maybe more questions need to be asked … since there has NOT been ANY clinical trial initiation coming-up on a year since its IND approval. Most and all companies after an approval would have hired a CRO and begun patient recruitment to begin studies; yet … NOTHING?

Have they squandered their future?

Maintaining SELL ...

Maintaining Sell:

Biostage (BSTG) closed down Monday -$0.19 to $1.81 with 1,725 shares traded after Friday’s -$0.06 to $2.00, Thursday’s +$2.06 with 1,500 shares traded after Wednesday’s $2.00 with 100 shares traded and Tuesday’s being flat at $1.93 with 205 shares traded.

  • Question#1: As of 1/29/20, from an 8-K filed 2/4/21… WHY the departure of “Danforth Advisors, LLC (“Danforth”) WHO notified Biostage, that “Danforth was terminating its Consulting Agreement with the Company. As a result, and effective as of such termination, James Mastridge, is no longer serving as the Company’s interim Vice President of Finance or principal accounting and financial officer. The Company is actively in the process of identifying a qualified candidate to serve as the Company’s principal accounting and financial officer.”

 

  • Question#2:  I am NOT the ONLY one who has seen the BSTG “troubles” in financial reporting and operations; WHAT are the other ISSUES that a recognized, extremely responsible and quality firm <Danforth Advisors> see as an impediment to an audit and financial review for Q4 and ending FY20?

 

  • Question#3: WHAT will RSM US LLP, BSTG’s audit firm NOW do as yet another financial officer (7 to date) leaves – don’t they have a FIDUCIARY responsibility to report to the SEC after all these financial/accounting employment terminations in the past years?

 

  • Question#4: Does it also put MORE fiduciary and transparency responsibility on the new board and audit committee member, Herman Sanchez?

 

  • Question#5: WHY the constant revolving door – operational and leadership ISSUES – should organizational stability be a factor that should be addressed by RSM US LLP in their Q4 and FY20 audit valuation and verifications?

 

  • Question#6: What is the relationship between Mrs. bin Zhao of DST Capital and Lui Dong-Hai of Dixintong Technology Group, the largest cell phone technology company and possibly is there a linkage to the Ministry of State Security (MSS) - the civilian intelligence, security and secret police agency of the People's Republic of China?

 

  • Question#7: HOW many times did Hong Yu president and Shunfu Hu, VP of business development and operations speak of fear to me (?) that Beijing, China based LIU Dong Hai was the ULTIMATE AUTHORITY in BSTG’s future?

 

  • Question#8: WHY does Chinese investor DST Capital and Beijing, China based Dixintong Technology Group need a regenerative medicine/biotech public, PPP debtor and money losing company that resides in this corner of medical and scientific innovation of America and draw attention to itself?

 

  • Question#9: NOT a conspiracy theorist but, don’t U.S. public shareholders deserve accountability of WHAT on-going relationship exist that have hindered the initiation of clinical trials with an approved IND and WHAT further data are they accumulating or need to initiate trials?