Sunrise, FL – November 5, 2015 – U.S. STEM CELL, Inc., a Florida corporation, (f/k/a/ Bioheart, Inc.) a leader in the regenerative medicine, cellular therapy industry providing physician based stem cell therapies to human and animal patients as well as a developer of novel autologous cell therapies, is pleased to highlight the following results from operations for the quarter ending September 30, 2015:
•Current Liabilities (Debt) decreased 30.6% or $3.4 million, as of September 30, 2015 from $11.1 million to $7.7 million
•Working capital deficit improved 25% for the same time period year-over-year from $10 million (Q3 2014) to $7.5 million (Q3 2015)
•Revenue remained consistent and increased by 3.06% from $1,564,000 (Q3 2014) to $1,612,000 (Q3 2015)
•Expenses for the quarter decreased by 64.3% or over $1 million from $1.6 million (Q3 2014) to $564,000 (Q3 2015)
•Expenses as of September 30, 2015 decreased 31.5% (or over $1 million ) from approx $3.3 million (YTD Q3 2014) to approx $2.5 million (YTD Q3 2015)
“We are very pleased with our continuing quarter-over-quarter and year-over-year improvements in operations and balance sheet performance, stated Mike Tomas, President & CEO of U.S. Stem Cell Inc. “Moreover, we are making a real and positive impact on the lives of the patients we are treating. With our new brand in place and the completion of our reverse split, we continue to advance our key strategic business initiatives, which are to grow top line revenues, move the company to positive cash flows and to seek out new business opportunities for exponential growth. We thank our shareholders for the long-standing support and we look forward to reporting on our future successes.”
About U.S.Stem Cell, Inc.
US Stemcell, Inc. (formerly Bioheart, Inc.) is an emerging enterprise in the regenerative medicine / cellular therapy industry. We are focused on the discovery, development and commercialization of cell based therapeutics that prevent, treat or cure disease by repairing and replacing damaged or aged tissue, cells and organs and restoring their normal function. We believe that regenerative medicine / cellular therapeutics will play a large role in positively changing the natural history of diseases ultimately, we contend, lessening patient burdens as well as reducing the associated economic impact disease imposes upon modern society.
Our business, which includes three operating divisions (US Stem Cell Training, Vetbiologics and US Stem Cell Clinic) includes the development of proprietary cell therapy products as well as revenue generating physician and patient based regenerative medicine / cell therapy training services, cell collection and cell storage services, the sale of cell collection and treatment kits for humans and animals, and the operation of a cell therapy clinic. Management maintains that revenues and their associated cash in-flows generated from our businesses will, over time, provide funds to support our clinical development activities as they do today for our general business operations. We believe the combination of our own therapeutics pipeline combined with our revenue generating capabilities provides the Company with a unique opportunity for growth and a pathway to profitability.
Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “to,” “plan,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” or “continue” or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forwardlooking statements represent our management’s beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2013, and its Quarterly Report on Form 10-Q.