RenovaCare Inc (EM) (RCAR)

RCAR: Final Judgments Entered Against Harmel S. Rayat, Jatinder Bhogal, and RenovaCare, Inc. in Microcap Fraud Case:

https://www.sec.gov/litigation/litreleases/lr-25945

So that's the end of the lawsuit.

Well there is this https://www.sec.gov/litigation/litreleases/lr-25883

Avita has it all. RCAR has nothing but a glorified airbrush that Avita won't use because it unnecessarily complicates the procedure and adds huge cost as opposed to using a simple syringe which doctors feel comfortable with and need no training. Don't believe me, the CEO said as much.

But wait!! There's more!!

SEC Adds Defendants and Claims in Microcap Fraud Case

Litigation Release No. 25487 / August 29, 2022

Securities and Exchange Commission v. Harmel S. Rayat, RenovaCare, Inc., Jatinder Bhogal, Jeetenderjit Singh Sidhu, and Sharon Fleming, No. 1:21-cv-04777 (S.D.N.Y.)

https://www.sec.gov/litigation/litreleases/2022/lr25487.htm

Amended complaint:

https://www.sec.gov/litigation/complaints/2022/comp25487.pdf

GRABAR LAW OFFICE INVESTIGATES POTENTIAL SHAREHOLDER DERIVATIVE ACTION ON BEHALF OF CURRENT SHAREHOLDERS OF RENOVACARE, INC. (OTC: RCAR)
To Learn More See: https://grabarlaw.com/the-latest/renovacare-investigation/

President Added: Kaiyo Nedd
Replacing Alan L. Rubino
Secretary Added: Justin Frere
Treasurer Added: Justin Frere
Director Added: Harmel S. Rayat
Director Added: Kaiyo Nedd

Such a great Humanitarian product..
Get it to market

"SEC files securities fraud charges against Vancouver man for 'concealed promotion'"

https://vancouversun.com/business/u-s-sec-files-securities-fraud-charges-against-vancouver-man-for-concealed-promotion

Here Come the Class Action Lawsuits

https://www.kpvi.com/news/national_news/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-renovacare-inc-/article_e74a11bf-eada-54e3-bc36-8651531b28fa.html

SA article slams RCAR, WNDW and Rayat. Stocks plummet.

"Summary

* On May 28th, the SEC charged SolarWindow's controlling shareholder with Securities Fraud and they appear to indirectly refer to SolarWindow in the complaint.

* The charges accuse Harmal Rayat of concealing his involvement in a paid stock promotion campaign, and reveal a damning instance of allegedly falsifying technological capabilities.

* Harmal Rayat's stock promotions utilize a recurring script and follow the same tired routine, which is clearly repeated at SolarWindow."

Click to read much more.
https://seekingalpha.com/article/4432724-solarwindow-stock-alarms-blaring-as-sec-brings-fraud-charges

SEC Charges Company and Controlling Shareholder with Securities Fraud

Litigation Release No. 25102/ May 28, 2021

Securities and Exchange Commission v. Harmel S. Rayat and RenovaCare, Inc., No. 21-cv-4777 (S.D.N.Y. May 28, 2021)

The Securities and Exchange Commission charged RenovaCare, Inc., a development stage company headquartered in New Jersey, and its controlling shareholder, Harmel S. Rayat, with securities fraud for intentionally concealing Rayat and the company's role in promotional activities, including by drafting and issuing a press release that denied their participation in those activities.

The SEC's complaint, filed in federal court in the Southern District of New York, alleges that in July 2017, Rayat arranged, and caused RenovaCare to pay for, a promotional campaign designed to increase the company's stock price. The complaint alleges that Rayat was closely involved in directing the promotion and editing promotional materials, and arranged to funnel payments to the publisher through consultants to conceal RenovaCare's involvement in the campaign. According to the complaint, in January 2018, OTC Markets Group, Inc. requested RenovaCare issue a press release to explain its relationship to the promotion. The complaint alleges that Rayat and RenovaCare then drafted and issued a press release and a Form 8-K that contained material misrepresentations and omissions denying Rayat's and the company's involvement in the promotion.

The SEC's complaint charges Rayat and RenovaCare with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and also charges Rayat with aiding and abetting the company's violations of those provisions. The complaint also charges RenovaCare with violating the reporting provisions of Exchange Act Section 15(d) and Rules 15d-11 and 12b-20 thereunder. The SEC seeks permanent injunctions and civil penalties against Rayat and RenovaCare, and officer-and-director and penny stock bars against Rayat.

The SEC's investigation was conducted by Darren E. Long and Daniel Weinstein, with assistance from Brian Shute and Jessica Regan in Enforcement's Office of Investigative and Market Analytics, and supervised by Brian O. Quinn and Carolyn M. Welshhans. The litigation will be led by Matt Scarlato and supervised by Jan Folena.


https://www.sec.gov/litigation/litreleases/2021/lr25102.htm?utm_medium=email&utm_source=govdelivery

SEC Charges Company and Controlling Shareholder with Securities Fraud

Litigation Release No. 25102/ May 28, 2021

Securities and Exchange Commission v. Harmel S. Rayat and RenovaCare, Inc., No. 21-cv-4777 (S.D.N.Y. May 28, 2021)

The Securities and Exchange Commission charged RenovaCare, Inc., a development stage company headquartered in New Jersey, and its controlling shareholder, Harmel S. Rayat, with securities fraud for intentionally concealing Rayat and the company's role in promotional activities, including by drafting and issuing a press release that denied their participation in those activities.

The SEC's complaint, filed in federal court in the Southern District of New York, alleges that in July 2017, Rayat arranged, and caused RenovaCare to pay for, a promotional campaign designed to increase the company's stock price. The complaint alleges that Rayat was closely involved in directing the promotion and editing promotional materials, and arranged to funnel payments to the publisher through consultants to conceal RenovaCare's involvement in the campaign. According to the complaint, in January 2018, OTC Markets Group, Inc. requested RenovaCare issue a press release to explain its relationship to the promotion. The complaint alleges that Rayat and RenovaCare then drafted and issued a press release and a Form 8-K that contained material misrepresentations and omissions denying Rayat's and the company's involvement in the promotion.

The SEC's complaint charges Rayat and RenovaCare with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and also charges Rayat with aiding and abetting the company's violations of those provisions. The complaint also charges RenovaCare with violating the reporting provisions of Exchange Act Section 15(d) and Rules 15d-11 and 12b-20 thereunder. The SEC seeks permanent injunctions and civil penalties against Rayat and RenovaCare, and officer-and-director and penny stock bars against Rayat.

The SEC's investigation was conducted by Darren E. Long and Daniel Weinstein, with assistance from Brian Shute and Jessica Regan in Enforcement's Office of Investigative and Market Analytics, and supervised by Brian O. Quinn and Carolyn M. Welshhans. The litigation will be led by Matt Scarlato and supervised by Jan Folena.


https://www.sec.gov/litigation/litreleases/2021/lr25102.htm?utm_medium=email&utm_source=govdelivery

Words to live by. RCAR charged with illegal share trading today.

Fda allows use of skin gun today woohoo

RenovaCare Awarded New Patents Allowing Greater Versatility Of SkinGun(TM); Sterility In Field Environments; Spray Solutions To Now Include Targeted Cells, Drugs Or Hormones

GlobeNewswire - Thu Nov 19, 7:15AM CST

RenovaCare, Inc. (Symbol: RCAR; www.renovacareinc.com), developer of patented technologies for spraying self-donated stem cells for the regeneration of skin and other organs and tissues, today announced the issuance of two new patents encompassing improvements to the SkinGun(TM), expanding its potential application beyond the surgical setting into the field, and allowing the use of liquid suspension solutions to include drugs, hormones, and other useful agents. These new patents demonstrate RenovaCare's commitment to developing new products and expanding its proprietary cell spray technology platforms.
Robin A. Robinson, PhD, Chief Scientific Officer commented, "RenovaCare is leading the development of regenerative medical spray cell therapies with our novel CellMist(TM) System and SkinGun(TM) platform technologies. Our newest patents broaden the potential use of our novel SkinGun(TM) to spray an array of drugs, hormones, medical solutions and other agents. Further, these patented inventions enable the SkinGun(TM) spray device to be used outside of a surgical setting in out-patient clinics and field settings like emergency situations. The disposable components and an impervious contamination barrier create a sterile environment for the patient and SkinGun(TM) components."
"The RenovaCare SkinGun(TM) was designed to provide a non-invasive gentle spray for expedited burn wound healing. The newly-awarded patents may expand the SkinGun's potential use to benefit a wider population," stated Alan L. Rubino, Chairman and Chief Executive Officer. "While our team remains focused on advancing our core cell spray therapies through the FDA regulatory pathway, I am enthusiastic about the expanded commercial opportunities and meaningful strategic business alliances that our new patents may foster with potential partner companies."
The RenovaCare patent portfolio is comprised of eight patent families spanning the United States, Europe, and Asia. Already successfully defended, the Company has issued patents extending to 2037. Issued patents include cell isolation techniques for skin and other tissues and a cell spray gun that is highly effective in spraying different types of biologically compatible liquids and cell suspensions of all types. RenovaCare owns all technology developed and under development and has not in-licensed any technology.
About RenovaCare
RenovaCare, Inc. is developing new generation autologous stem cell therapies for the regeneration of human organs and tissues. The Company's initial product under development targets the body's largest organ, the skin. The Company's flagship technology, the CellMist(TM) System, renders single-cell suspensions of tissue-specific pluripotent cells from donor tissues through sequential protease digestions. The RenovaCare CellMist(TM) System facilitates rapid healing of wounds or other afflicted tissues when applied topically as a gentle cell mist using the patented RenovaCare SkinGun(TM). The Company's SkinGun(TM) is used to spray a liquid suspension of a patient's stem cells - the CellMist(TM) Solution - on to wounds.
Development for next-generation biomedical technologies and devices for addressing unmet medical needs and commercialization is taking place at the RenovaCare R&D Innovation Center, located at StemCell Systems in Berlin, Germany. The Innovation Center houses dedicated RenovaCare cell biology laboratories; additional engineering, fabrication, prototyping and performance testing facilities; and product design studios for medical devices and biomedical products. Experienced contract bioengineers, cell biologists, and support staff work under the direction of a team of MD-PhDs who are experts in regenerative medicine, new product development, and clinical translation.
RenovaCare products are currently in development. They are not available for sale in the United States. There is no assurance that the Company's planned or filed submissions to the U.S. Food and Drug Administration will be accepted or cleared by the FDA.
For additional information, please call Amit Singh at: 1-888-398-0202 or visit: https://renovacareinc.com
To receive future press releases via email, please visit:
https://renovacareinc.com/investors/register/

New patent release

They probably sold enough shares on the $3 pop to cover their payroll for the next six months. Sad thing is, no bid on the stock...hard to get out. Have to think they engineered the pop and then removed the bid, trapping anyone who bought the upswing. Embarrassed to admit I was dumb enough to get trapped...arggg

I’ve been holding a long time should have sold when it was 13 bucks

Geez, what the hades is up with this company? Thought it was going to be a blockbuster and they just sit in statis going now where fast. Who is the clown selling it down 100 shares at a time? Guess I am going to be burned by these guys.

Ya, Ya Hezekia we know.....You warned us.

Be careful - this looks just like their last pump and dump! Don't get burned. And for those who do, they'll need to use Avita's RECELL system for treatment since renovacare's "product" won't be available any time soon - if ever!

$RCAR This is on serious steady climb...

Based on their stated plans for 2020 that doesn't appear to be in the cards. I'm also not sure that "cosmetic intervention" would be outside of the FDA's jurisdiction. Depending on what that means. My guess is that FDA would be involved and want significant supporting data showing safety and efficacy. At the very least. If they could just use their product for that "class" of applications - with no approvals required - then Avita Medical would have been doing this already. They are far beyond Renovacare and already have FDA approval for other applications, with more in the works.

I wonder if Renovacare
May take a different path with cosmetic intervention..

Start a new enterprise void of fda oversight..

Stem cells are the answer..
Why not just follow path of MSC usage?

Avita has their own patents and entered the US market in January 2019 after receiving FDA PMA approval for treating 2nd and 3rd degree burns. They have 2 other clinical trials in progress - both of which are being funded by BARDA (US Government) at a cost of $25 million. They're moving into the pediatrics space for treating scald wounds and also for rapid healing of areas that were harvested for skin grafting. They are light years ahead of Renovacare and fully funded for several other clinical trials. They've also derisked their pipeline via smaller studies that clearly show their product works for other applications. There is no contest between the 2 companies - 1 is the real deal, while the other is a publicity machine looking to increase their price via headlines - but nothing of substance behind them.

Check out Avita Medical's website - you'll be glad you did!

Although I'm big on the potential of this technology, you do have to admit that they have burned a lot of time apparently doing nothing. (several years spouting the same clinical trial promise) They have hired some big names but can't seem to get out the gate with their clinical trials. Do their patents keep Avita Medical from doing the same thing? It seems that Avita is selling/developing the same treatment and at a faster pace.

Here's a portion of a letter from the new CEO that came out today. This is their plan for 2020...

======================================================================
LOOKING FORWARD TO 2020:
"We enter a brand-new year excited by the many opportunities that lay before us with ample cash (approximately $13 million) and the support and encouragement of our many stakeholders.
Our highest priority in 2020 will be to advance the SkinGun™ through our regulatory program so we can obtain approval for conducting clinical trials, initially for establishing the safety of our device.
While there are no guarantees of obtaining regulatory consent for our clinical trials, our confidence is strengthened by peer-reviewed publications and by the compelling visual outcomes of the more than 70 burn patients (see pictures here) experimentally treated with an early version of the technology underlying the SkinGun™.
Our goal is to bring our therapy to the tens of millions worldwide who suffer from burns, chronic and acute wounds, and scars, an estimated $45 billion market in the U.S. alone."

======================================================================
Notice that he writes the highest priority in 2020 for Renovacare is trying to get approval JUST TO BE ABLE TO CONDUCT CLINICAL TRIALS. Everything that is written ("70 burn patients, peer-reviewed publications, etc.) is VERY OLD NEWS! This is where they were at least 3 years ago! NO REAL PROGRESS TOWARDS PRODUCT COMMERCIALIZATION! All they've done is to hire a few big names to get some publicity - with nothing but empty promises behind the scenes. The $13 million that they have will be used to buy more publicity and pay their expensive new hires. Where will the tens of millions of dollars come from to perform the needed Clinical Trials to submit to the FDA?

Their main competitor (Avita Medical) ALREADY HAS FDA APPROVAL FOR THEIR SPRAY-ON RECELL PRODUCT - AS WELL AS THEIR OWN MANUFACTURING FACILITY, MARKETING/SALES FORCE AND ACTUAL PRODUCT SALES! They also are in the midst of 2 more Clinical Trials (for more uses) with several more CT's lining up behind those (and the money and know-how to run them). By the time Renovacare actually conducts a Clinical Trial (if they ever do) Avita Medical will have a stranglehold on most of the indications in the market.

They've been using that statement for years. They have to make that distinction (or disclaimer) because their "product" has not been cleared by the FDA. BEFORE they can draft a PMA for submission to the FDA they first have to run external clinical trials and internal validation studies. To the best of my knowledge (since they don't respond to questions) they have yet to begin this necessary testing - which can take >1 year to conduct and cost in the millions of dollars. Nothing indicates that they are taking steps to do this work. IF they ever did undertake this significant effort, and complete all of the required testing, it will likley take another 12-18 months for FDA clearance before they can sell in the US. And that's assuming the FDA doesn't ask for any additional information or data (very unlikely). Not one of their new hires have mentioned anything about doing what's necessary to sell in the US. That doesn't seem to be in their plans.

More people being added. I noticed this statement "RenovaCare products are currently in development." Am I mistaken or is this new to their last few releases?

PLEASE DO NOT BE FOOLED BY THIS COMPANY! I have personally asked them when they plan to BEGIN clinical trials to get their product on the US market. They do not answer my question. And this was 2-3 YEARS ago. They've made ZERO progress since then.

I work for a top 5 US Medical Technology company and am very familiar with how much it costs and how long it takes to get a product through the FDA. They will need tens of millions of dollars and at least 3 years (plus a lot more resources) to accomplish this task. And that's if they started their clincal trials TODAY!

They have been promising things for YEARS, but have yet to deliver even one of them. In addition, there's already a company (RCEL - on NASDAQ) that's received FDA approval for the same type of burn treatment solution - they have an outstanding business plan, plenty of money to go after additional claims, 50+ peer reviewed articles on thier technology, their own state of the art manufacturing facility, etc. THEY will be the dominate market leader in this field. Check them out. You can confirm what I'm saying about Renovacare by looking at thier latest Form 10-Q quarterly report that they file with the SEC. You can confirm what I'm saying about RCEL (Avita Medical) by going to their website.

Not trying to be mean - just truthful from past experience. Best wishes.

Things are looking interesting

I believe a positive addition to the company as well as the patent

Yes they did. I have to look back he was from Johnson and Johnson I believe

Wish for a morw revent update and break down . Didnt some one fro a known medical company join the team?

Ya and a few new additions but not much else news

There was a patent blurb a couple weeks back

Yup. It would help with more press releases but I think were ways away from those coming out.

No real volume

False alarm.

It certainly was on the move. Action is picking up. If we can identify if any insiders are buying up stock that may be a good indicator some news is coming.

Something is up. I like what I see happening. Stock looks to be cranking up. Could big news be headed this way soon?

I'n hoping by year end they have an update on that process.

Has anyone been able to get a hold of anyone from the company about FDA approval process?

New patent is on par with your comment.

New Patent...

https://www.renovacareinc.com/2019/08/renovacare_awarded_new_patent_allowing_for_the_spray_of_stem_cells_for_regeneration_of_organs_and_tissues/#xsid=a62b_L2deNl

Very quiet board here, anyone know what's going on for the year end? and proceeding into the new quarter?

I wonder how cell mist would work on someones entire body maybe it could possibly save lives

New cfo appointed

https://renovacareinc.com/index.php/blog/posting/https://renovacareinc.com/2018/10/mr-steve-yan-klassen-appointed-as-chief-financial-officer?utm_source=getresponse&utm_medium=email&utm_campaign=renova_investor_info&utm_content=%5B%5Brssitem_title%5D%5D

RCAR and closely related stock, WNDW, tracking each other's collapse almost identically.