US Stem Cell Inc (USRM)

[Gsdubb]

"The Company, as part of the general corporate restructuring and provide management with enhanced financial alternatives in obtaining additional financing, has been eliminating pre-exiting debt obligations through the conversion of such debt obligations to equity, valued oat $0.04 per share. Accordingly, the Company will recognize approximately $ 1,508,219.19 in settlement of debt in return for the issuance of 37,705,478 shares of common stock. In addition, the current holder of the Company’s Series A Convertible Preferred Stock have agreed, in principal, for an exchange of their holdings of the Series A Convertible Preferred Stock for shares of common stock upon the consummation of a financing. No assurances can be provided as to the consummation or timing of any financing. In addition, the Company has received a request from The Depository Trust Company (“ DTC ”) to confirm that shares of common stock deposited at DTC were eligible under the Rules and Procedures of DTC for deposit. The Company has responded to this request."