Bioheart, Inc. Defaults on Bank of America Loan

South Florida Business Journal -- Bank of America has sent a letter to Bioheart warning the company that it was in default on a $1.3 million loan. The Sunrise-based biotechnology company (OTCBB: BHRT) revealed the July 16 letter in a recent Securities and Exchange Commission filing. Originally taken out for $5 million in 2007, the remaining balance of the loan was due in full on July 5. BofA’s letter told Bioheart that it failed to pay the $30,000 loan extension fee by June 28 and it must pay off the loan.