Intellicell Biosciences Inc (fka SVFC)

[BigBadWolf]

No I did not write I used quotes, SEC Links & Victor's signature attesting to it ALL Net cash used in operating activities was $1,064,556 and $1,039,625 for the year ended December 31, 2012 and 2011, respectively. Cash was used primarily to fund our operating losses exclusive of non-cash expenditures such as stock compensation for services and changes in the fair value of our derivative liabilities. For the year ended December 31, 2012 and 2011, operating activities were impacted by increases in our accounts payable of $1,775,489 and $300,525, increases in deferred income related to our license agreements of $720,000 and $502,500 and an increase in accrued liabilities, related party, of $378,715 and $354,207 primarily related to salaries and research fees payable to our chief executive officer and spouse, respectively. We have also paid approximately $2.1 million towards the construction and infrastructure costs for the office space where our laboratory and corporate office are located on Park Avenue in New York, NY, which space is leased by our chief executive officer. [/quote]
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