US Stem Cell Inc (USRM)

[All I do is win92]

I would say it's not the best time for the salary hike but officers have been holding this company up through both work and capital. Hopefully before too long those salaries are a steal.

NOTE 8 — RELATED PARTY TRANSACTIONS

Lease Guarantee

The Company’s former Chairman of the Board, Chief Executive Officer and Chief Technology Officer has personally guaranteed the Company’s obligations under its lease for its facilities in Sunrise, Florida and has provided a personal guarantee for the Company credit card, which is for his own use only.

Advances

As of June 30, 2013 and December 31, 2012, the Company officers and directors have provided advances in the aggregate of $493,948 and $313,448 respectively, for working capital purposes. The advances are unsecured, due on demand and non-interest bearing.



Reliance on Key Personnel and Consultants

The Company has 4 full-time employees and 1 part-time employee. The Company is heavily dependent on the continued active participation of these current executive officers, employees and key consultants. The loss of any of the senior management or key consultants could significantly and negatively impact the business until adequate replacements can be identified and put in place.