BioSig Has Acquired An Antiviral Drug Which Is Likely Worth The Little Amount They Paid For It – $1 Price Target

April 23, 2020

RESEARCH SUMMARY

  • BioSig (BSGM) is a struggling medical device company turned recent stock promote that acquired an antiviral drug less than 30 days ago to capitalize on the coronavirus pandemic. This caused the stock to rally 100%+ off lows.
  • BSGM had only discussed acquiring Vicromax on 3/12/20, after the coronavirus was in full swing, and it was likely owned by BSGM’s CEO, Ken Londoner, and Director, Dr. Jerome Zeldis.
  • After acquiring Vicromax, BSGM has engaged in an aggressive stock promotion campaign, not to sell any products, but to sell their stock.
  • Recent investors seem to not realize that in buying BSGM stock, they are mainly investing in BSGM’s flagship product, the PURE EP device, which has nothing to do with treating or protecting people from the coronavirus.
  • BSGM and PURE EP sales have always been zero, and will likely continue to be zero for at least the rest of the year.
  • BSGM is almost out of cash and will have to raise money soon, insiders have exercised their options and we believe will be selling soon.
  • Vicromax, also named Merimepodid (“MMPD”), is a well-known antiviral but before BSGM, it hasn’t attracted any interest for coronavirus studies. It hasn’t been used for any other viruses either, such as Zika and Ebola.
  • Vicromax already failed to successfully treat hepatitis C and Zika.
  • Vicromax has nasty side effects, and BSGM’s own published report says animal and safety studies should be done.
  • Management acknowledged it will change the formulation of Vicromax, which we believe suggests there is something wrong with it in its current form.
  • Vicromax is likely worth whatever BSGM paid for it, which isn’t disclosed and likely wasn’t much.
  • BSGM’s management receives excessive compensation and is “double dipping” with its NeruoClear subsidiary for additional compensation.

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