MultiCell Technologies Inc (MCET)

[TPX]

MultiCell Immunotherapeutics ( GT BIOPHARMA, INC. FORM 10-Q )

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

On or immediately before February 15, 2017, MultiCell Immunotherapeutics filed an arbitration proceeding against the Company with the American Health Lawyers Association, Claim #3821. In its statement of claim, MultiCell is seeking $207,783 plus interest and costs of arbitration pursuant to alleged contract rights against the Company under a research agreement between the parties. Following a hearing held September 1, 2017, the arbitrator awarded MultiCell the payment amount of $207,783 plus interest in the amount of $34,699. We are having legal counsel review to determine the extent to which the arbitrator’s award is legally binding on the Company.

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