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Stachybotrys (black mold) spores die quickly after release but, like all mold spores, they REMAIN ALLERGENIC AND TOXIGENIC EVEN WHEN DEAD.  In order to eliminate the hazard, the mold growth and mold spores themselves must be physically removed, not just treated with a biocide (such as Clorox).
Chronic exposure to black mold toxins ("toxic mold") has been reported to cause cold or flu symptoms, sore throats, diarrhea, headaches, fatigue, dermatitis, intermittent hair loss, generalized malaise, or other health-related problems. Medical experts suspect Stachybotrys black mold may often be involved in ailments complained about in sick-building syndrome.
In 1997, black mold (Stachybotrys) was linked to a Cleveland cluster (1993-1994) of idiopathic pulmonary hemorrhage in infants (bleeding lungs). The CDC has since said further investigation is required in order to establish any link.
Other similar cases have been reported, including a case study published in November 1999 in the National Institute of Environmental Health Sciences (NIEHS) journal Environmental Health Perspectives entitled Infant Pulmonary Hemorrhage in a Suburban Home with Water Damage and Mold (Stachybotrys atra). This case study was authored by MOLDetect’s Susan Flappan. 
Researchers have theorized that infant lung bleeding is caused by potent mycotoxins or trichothecenes produced by Stachybotrys (black mold). They believe tricothecenes are poisons that inhibit collagen production, the protein that gives strength to capillaries. Thus, the black mold does not directly cause infant fatalities; however the black mold toxins can weaken capillaries and make them more likely to burst under the stress of illness or smoke. Initial descriptions of Stachybotrys dates back to the 1930's, when Russian scientists blamed it for the deaths of horses and other animals in the Ukraine after black mold was found in straw and feed. A few years later, Russians reported respiratory problems, inflammations, fever, headache and fatigue from sleeping on straw-filled mattresses that contained black mold, or after burning old mattresses.
Researchers once believed that black mold (Stachybotrys) only occurred in 1 to 3% of homes, and that the spores were rarely airborne because the mold colonies are so slimy. However, in 1997 while working as an environmental health specialist in the Allergy Section at Children’s Mercy Hospital, MOLDetect's Susan Flappan found that Stachybotrys mold was present in 30 to 40% of the asthmatic/allergic patients’ homes she investigated. "We were surprised," Flappan said. "This mold was supposed to be very infrequent, very rare. We found it was a lot more common problem than we ever thought it would be." In Flappan's mold study, 69% of the Stachybotrys-positive homes had airborne spores, with concentrations ranging from 84 to 8,400 spores per m3. While "black mold" spores are slimy when wet, they become powdery when dry and therefore can easily become airborne. Home Assessment for Indoor Allergens
Dr. Eckardt Johanning, an environmental health specialist at New York's Mount Sinai Medical Center, has found that black mold toxins can cause mood changes, memory loss, and immune dysfunction, besides sore throats, headaches, upper and lower respiratory ailments, dermatitis, eye irritation and general tiredness. In 1999, the Kansas City Star quoted Susan Flappan saying, "I think it's a missing link to a lot of questions we've had. We've had patients go from doctor to doctor without any explanation of what is wrong. Once they get rid of the Stachybotrys problem, their life gets better."
Though scientists don't understand all the effects of black mold, Sidney Efross of the EPA in San Francisco says, "There's probably nothing we can call a safe level" of Stachybotrys.
NOTE: JUST BECAUSE YOU SEE BLACK MOLD GROWTH DOES NOT NECESSARILY MEAN  IT IS STACHYBOTRYS .
MEDICAL NOTICE
Warning! Infants (less than 12 months old) who are experiencing non-traumatic nosebleeds or are residing in dwellings with damp or moldy conditions and are experiencing breathing difficulties should receive a medical evaluation to screen for alveolar hemorrhage.
Individuals with persistent health problems should see their doctors for a referral to physicians trained in occupational/ environmental medicine or related specialties with knowledge about these types of exposures. [NYC Guidelines