August 21, 2019

Ms. Minnie Baylor-Henry

Director at PolarityTE (PTE)
c/o Ms. Maggie Dalton
Stoel Rives LLC

Re: PolarityTE's new promotional campaign

By email

Dear Ms. Baylor-Henry,

This is my fifteenth letter to you. As always, I share my observations and opinions.

PolarityTE has begun a new multi-level promotional onslaught. This campaign uses a
few splashes of new color to repaint their rickety old billboard with new lettering saying, "Buy,
Buy, Buy PTE stock." Conveniently, the campaign doesn't address the past and ongoing lack of
disclosure and frauds at PTE. PTE's new advertising program includes the following elements:

A. a newly issued Canadian patent

http://www.ic.gc.ca/opic-cipo/cpd/eng/patent/2969707/summary.html
B. reiterated price targets of $50 from Elemer Piros at Cantor Fitzgerald and $14 from Kevin
DeGeeter at Oppenheimer
(see below)
C. a new investor presentation filed with the SEC
https://www.sec.gov/Archives/edgar/data/1076682/000149315219013109/ex99-1.htm
D. a flurry of new pumping on Twitter and StockTwits
(see below)

The $PTE message board on Twitter has been quiet for the last few weeks. The absence
of PTE pumpers has been especially noticeable. This has changed since August 20 (yesterday).
Now $PTE pumpers are coming out of the woodwork. Here are some examples:

1
 Here's a snip from the webpage at the link in the post above:

And here's the URL of the webpage:

https://thefly.com/landingPageNews.php?id=2953305&headline=PTE-PolarityTEs-patent-approval-
increases-probability-of-patent-protection-says-Cantor-Fitzgerald

More $PTE tweets:

2
And here are some posts from StockTwits:

3
 PTE is using the news of their new Canadian patent to disguise their frauds and lack of
disclosures. They rely on the complexities of patent and trade secret law to try to project the
appearance they are an honest biotech company trying to help save the world. However, PTE
has still not disclosed the formulations of SkinTE over time (which disclosures would reveal
their frauds), and they continue to sell and seek reimbursement for an unapproved medical
product that has no valid proof of safety or efficacy.

Along with Phillip Frost, Barry Honig was a key player in the initial COOL/PTE pump
and dump securities fraud. According to the SEC, in pursuing their pump and dump securities
frauds at BZNE/COCP and other companies, "Honig or Brauser … along with other favored
investors … secretly compensated bloggers and promoters to write about the transaction to
artificially increase the issuer's stock price …"1 Chris Carey has detailed Honig's stock
promotion network.2 As recently as July 3, 2019, Honig owned over 9% of PTE.3 We are now
seeing what appears to be an organized promotional campaign for PTE. To paraphrase an old
saying, if it looks like Honig and it smells like Honig, it just might be Honig.

1
https://www.courtlistener.com/recap/gov.uscourts.nysd.500558/gov.uscourts.nysd.500558.155.0.pdf (page 2)
2
http://sharesleuth.com/investigations/2018/03/pretenders-and-ghosts-stealth-promotion-network-exploits-
financial-sites-to-tout-stocks
3
https://www.sec.gov/Archives/edgar/data/1076682/000149315219010246/sc13ga.htm

4
 Ms. Baylor-Henry, I hope that you find this information to be useful as you carry out
your duties as a director at PTE.

This letter will be posted on scribd.com with a link from Twitter.

Regards,
Lee Pederson

Cc:
SEC OIG
Joe Dixon (attorney for Phillip Frost)

Bcc:
Federal law enforcement agents
Journalists and business writers
Other interested parties