OTC Stocks To Watch: New Lows For Bioheart Inc (BHRT)

Shares in Bioheart Inc. (OTC: BHRT) closed at a new 52 week low for the penny stock at $0.028 in the last trading session. The stock price of BHRT lost nearly 1/4th it’s value the day after the company filed its 10-K for fiscal 2012. Shares in Bioheart are down -37.50% YTD.

A little more than 2 years ago, the penny stock, BHRT, was trading at $0.60 per share. That won’t be happening anytime soon unless Bioheart plans some massive consolidation of its outstanding shares in order to boost the stock price.

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Bioheart Inc. has incurred net losses of $ 111,021,257 since inception, a trend which appears to have no end in sight considering that as of December 31,2011 BHRT’s current liabilities exceed its current assets by $12,125,177. Even though cost of sales declined substantially since last year, 2011 revenues of $17,475 compared to $46,383 from 2010 is not the direction investors want to see when thinking of Bioheart’s future.

BHRT Stock Snap Shot:

Market Cap: 3.78M
52-Week High
(Jul 22, 2011): 0.26
52-Week Low
(Apr 13, 2012): 0.03
Avg Vol (3 month): 1,091,810
Avg Vol (10 day): 1,067,100
Shares Outstanding: 135.00M
Float: 47.18M
% Held by Insiders: 30.25%

Bioheart Inc. is focused on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of chronic and acute heart damage.

To view the SEC filings for BHRT, click here.

Bottom Line: Bioheart does have multiple product candidates for the treatment of heart damage. However, candidates do not pay the bills so expect to see some dilution of the penny stock in the coming days, weeks, months which would hamper any chances of BHRT returning to anywhere above 8 cents.

Stranger things have happened but BHRT is one of those penny stocks to watch and monitor FDA comments on any of their products undergoing clinical trials or studies.

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