Filing Details

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)*

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

^* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

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* Based upon information contained in the definitive Proxy Statement filed by BioRestorative Therapies, Inc. (the “Company”) with the Securities and Exchange Commission (the "SEC") on December 23, 2019 (the "Proxy Statement"), there were 43,991,022 shares of the Company’s common stock, par value $0.001 per share (the “Shares”), issued and outstanding as of December 13, 2019.  The percentage of class owned by Dale Broadrick (the "Reporting Person") does not give effect to any issuances of common stock by the Company subsequent to December 13, 2019, as reflected in the Company's Current Reports on Form 8-K filed after the date of filing of the Proxy Statement.

 

This Amendment No. 5 to Schedule 13D reflects the aggregate number of Shares beneficially owned by the Reporting Person and includes (i) 12,549,712 Shares owned directly by the Reporting Person; (ii) 5,823,795 Shares owned indirectly by the Reporting Person through Fleetco, Inc. of which he is the sole shareholder; (iii) 1,000,000 Shares underlying warrants held by the Reporting Person with an exercise price of $0.03 per Share and an expiration date of February 19, 2024; (iii) 1,111,111 Shares underlying warrants held by the Reporting Person with an exercise price of $0.03 per Share and an expiration date of May 7, 2024; and (iv) 3,333,333 Shares underlying a warrant held by the Reporting Person with an exercise price of $0.03 per Share and an expiration date of October 16, 2024. As a result of the foregoing, as of the filing date of this Amendment No. 5 to Schedule 13D, the Reporting Person may be deemed to beneficially own 23,817,951 Shares, or 48.2% of the Shares issued and outstanding as of December 13, 2019. Percent of class assumes the exercise of all of the Warrants held by the Reporting Person for the acquisition of 5,444,444 Shares and does not give effect to any issuances of common stock by the Company subsequent to December 13, 2019, as reflected in the Company's Current Reports on Form 8-K filed after the date of filing of the Proxy Statement.

On January 6, 2020, the Reporting Person purchased, directly or indirectly, an aggregate of 8,460,210 Shares in the open market as set forth in Item 5.

The Shares were acquired, and are being held, for investment purposes.  The Reporting Person believes that the Common Stock of the Company is significantly undervalued and does not reflect the value of its business opportunity and its intellectual property.

The Reporting Person may purchase additional shares of Common Stock from time to time depending upon price, market conditions, availability of funds, evaluation of other investment opportunities, and other factors. The Reporting Person has no present intention to sell any shares of Common Stock, although the Reporting Person could determine from time to time, based upon the same factors listed above for purchases, to sell some or all of the shares of Common Stock held by the Reporting Person.

The Reporting Person does not have any plans or proposals that would result in any of the actions or transactions described in clauses (a) through (j) of Item 4 of Schedule 13D, except as set forth above.

Item 5.  Interest in Securities of the Issuer.

(a)     As of January 6, 2020, the Reporting Person beneficially owned 23,817,951 shares of Common Stock of the Company, including 5,444,444 shares of Common Stock of the Company issuable upon the exercise of currently exercisable warrants.  As of such date, the Reporting Person beneficially owned 48.2% of the outstanding Common Stock of the Company, based on there being 43,991,022 shares of Common Stock of the Company outstanding as of December 13, 2019, as set forth in the Company's definitive Proxy Statement filed with the SEC on December 23, 2019 (the "Proxy Statement"), and presently exercisable warrants issued to the Reporting Person for the purchase of an aggregate of 5,444,444 shares of Common Stock of the Company.  Such percentage of outstanding Common Stock does not give effect to any issuances of Common Stock by the Company subsequent to December 13, 2019, as reflected in the Company's Current Reports on Form 8-K filed after the date of filing of the Proxy Statement.

(b)     As of January 6, 2020, the Reporting Person had sole voting power and sole dispositive power with respect to 23,817,951 shares of Common Stock.

(c)     During the 60 day period prior to the filing of this Amendment No. 5 to Schedule 13D, except as previously reported, the Reporting Person acquired, directly or indirectly, the following securities of the Company:

Date of Acquisition	Securities Acquired		Price Per Share			How Transaction Effected
01/06/20	8,460,210 shares of Common Stock		$	.0121 (1)		Open Market Purchases
___________________ (1) Represents the average price per share paid. Purchase prices ranged from $.0101 per share to $.0138 per share.

(e)     Not applicable.

Item 6.  Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Item 7.  Material to Be Filed as Exhibits.

 

None.