My opinion is that this was a planned operation, there has never been consultation or offer to raise capital with what were the original shareholders.
The USA trading rules do not seem to be as good for stock holders as they are here in Australia, I do not fully understand the US system, but announcements and lack of them are not clear. In the meeting to vote on the capital raise that wiped us out , they seemed to be able to negate votes not done directly but through agents.
I presume that Herb decided to shelve the original company research, there could be a number of reasons, it doesn't work, research needed too much capital at this time, keep it for later, etc, etc.
He was aware of Aquadex and probably found a backer/ backers to capitalise the purchase and subsequent capital raisings, the final capital raising was supposed to be a public raising but was only open for about two trading days, my opinion is that it was put up for specific backers, there was no announcement of any takeup stats. The issuing of warrants seems to be how they get around the company ownership rules.
Now there is the name change to cleanse the Sunshine Heart history, it is not even mentioned in the "about' statement on documents now.
Next I am guessing is the stock ownership rules will be changed and then we may see the full story of who is behind it and I am sure the board will see some nice stock allocations for their efforts.
The reason I think this is, I doubt any company that was in the state SSH was would of been able to raise capital like they have UNLESS, the cuff technology works and it will resurface later!
I have seen this done before, it looks like they have used the rules to aquire the company, that can surelyonly mean there is money to be made.
There seems to be a company called CHF Solutions Inc in Minnesota that was bought out in October 2015, it was doing a product similar to Aquadex.
