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- Statement of Changes in Beneficial Ownership (4)
Date :
08/15/2012 @ 12:32PM
Source :
Edgar (US Regulatory)
Stock :
Cryo-cell International, Inc." (QB) (CCEL)
Quote :
1.95 -0.16 (-7.58%) @ 5:00PM
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- Statement of Changes in Beneficial Ownership (4)
Print
Alert
FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
Gaines George
2. Issuer Name and Ticker or Trading Symbol
CRYO CELL INTERNATIONAL INC [ CCEL ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__ X __ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
700 BROOKER CREEK BLVD., SUITE 1800
3. Date of Earliest Transaction (MM/DD/YYYY)
8/13/2012
(Street)
OLDSMAR, FL 34677
(City) (State) (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date
2A. Deemed Execution Date, if any
3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code
V
Amount
(A) or (D)
Price
Common Stock
700000
I
By IRA
Common Stock
8/13/2012
P
3000
A
$2.11
3000
I
By IRA
Common Stock
8/13/2012
P
1500
A
$2.10
1500
I
By IRA
Common Stock
8/13/2012
P
1500
A
$1.99
1500
I
By IRA
Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security
3. Trans. Date
3A. Deemed Execution Date, if any
4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date
7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code
V
(A)
(D)
Date Exercisable
Expiration Date
Title
Amount or Number of Shares
Stock Options
$2.80
8/30/2011
8/30/2012
Common Stock
20000 (1)
20000.
D
Explanation of Responses:
( 1)
Stock options vest at a rate of 1/3 per year commencing on August 30, 2011.
Reporting Owners
Reporting Owner Name / Address
Relationships
Director
10% Owner
Officer
Other
Gaines George
700 BROOKER CREEK BLVD., SUITE 1800
OLDSMAR, FL 34677
X
Signatures
George Gaines
8/15/2012
** Signature of Reporting Person
Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*
If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**
Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:
File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
OOPS ! POOR BROTHERS LOSING THEIR HANDLE ON CCEL! $1.80 Choi must be unloading this crap.
So has CCEL Notified Shareholders that it went Pink !
Yes you're right shame on them for having a pps of $2.04 while its competitor the 4th largest storage company is at 0.013 after a 1 for 100 RS and now needs almost a billion shares to fill up the juice bottle . Pink seems to be in even football players wear it .
CHEERS
SHAME ON CCEL ! PINK PINK PINK!
So does that mean you can't buy it any more ? NAH . The competitor is at .013 after a 1 for 100 RS and is looking to the shareholders for almst a billion more shares . CCEL is pink and at $2.04 the other guy is RED and at 0.013 .
I know why they Go Pink to Erase all the Proxy B.S.!
CCEL GOES PINK! 07:55 CCEL Cryo-Cell International, Inc. Common Stock 7/23/2012 100 Ineligible for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11 POOR POOR BROTHERS!!
PPS says nobody cares .
WOW Management is WORRIED they Wiped out all the Proxy NEWS ! POOR BROTHERS - CHOI's Not going to be Happy !
It was claimed here that it wasn't the Largest! BYE BYE CMEX
Yes it was, it was also the competitor's WATERLOO .
CMEX WAS CCELS LARGEST AFFILIATE ! Management demonstrates a low threshold for achievement. In describing his interactions with Cryo-Cell de Mexico, the co-CEO states that their negotiation with Cryo-Cell’s largest affiliate resulted in a loss of more than 60% of the revenue that it was owed. David Portnoy seems to call this a victory for the management team. This does not seem like something management should tout.------ Choi may have been onto something. The cash really has decreased year over year according to this recent filing. Cash was over eight million in July 2011 before the new board took over and now under three million. And shoot what investor doesn't love negative earnings! Losing money is so fun!! Looks like lay-offs and salary decreases are just around the corner. Oh heck, give yourself a bonus board while ur at it. You just vested all the the CEO's shares why not get something for yourselves while there is something left.
If you can't pay the bills you may have to turn off the lights
Proxy fight impacts bottom line at Cryo-Cell
Tampa Bay Business Journal
Date: Wednesday, July 18, 2012, 11:49am EDT
Cryo-Cell International Inc. reported a net loss of $3.2 million, or 28 cents a share, for the three months ended May 31, compared to net income of $177,000, or 1 cent a share, in the same period a year ago.
Revenue for the quarter ended May 31, the second quarter of the company’s fiscal year, was $4.4 million, compared to $4.6 million a year ago, a statement said.
The drop in net income primarily was due to a $726,000 increase in stock option compensation and an increase in sales and marketing initiatives.
The increase in stock option compensation followed an unsuccessful proxy challenge. Employment agreements for David Portnoy and Mark Portnoy, co-CEOs, called for stock options to vest immediately if the company received a nomination solicitation notice.
Cryo-Cell (OTCQB: CCEL) is a stem cell preservation company in Oldsmar.
DOWN DOWN DOWN! IS CHOI GOING TO WORK ON CCEL! WHY IS THE 8K LATE WERE THEY AFRAID INVESTORS MIGHT LOOK AT THE LATEST 10Q.
gl with your investments. I plan on sticking around, I see ccel taking a long to close the last two RSA (2mil principle paying around 900k a year about 45%), loans around 6-10 mil at 5%.
revs down, cash down, cost up, shareholder defecit up, seems this ship is headed the wrong way. I'm out
good luck
Joe S
That might be doable , as long as it doesn't look like the competitor who looks like the Concordia sinking with the capt falling into the lifeboat and all the passengers jumping over the side . I guess you can't run on your own juices when your submerged .
Best to you
votes in, just wish it can go back to 1.50s. want to buy more
I kinda remember you saying you had no investment in CCEL and never would , so why does it matter ? Maybe they'll hire Matt to straighthen things out ? I believe he's available .
Just Great ONE MORE Year of the POOR Brothers !
To consider for election six individuals to the Company’s Board of Directors
Under plurality voting, the six nominees who received the most “FOR” votes were elected as directors. The Company’s stockholders elected the Board of Director’s six nominees: Anthony Atala, M.D.; Harold Berger; David Portnoy; Mark Portnoy; George Gaines; and Jonathan Wheeler, M.D. as directors, each for a one-year term, as follows:
Anthony Atala, M.D.
For
4,989,956
Withhold
12,607
Broker non-votes
—
Harold Berger
For
4,989,956
Withhold
12,607
Broker non-votes
—
George Gaines
For
4,989,956
Withhold
12,607
Broker non-votes
—
David I. Portnoy
For
4,989,956
Withhold
12,607
Broker non-votes
—
Mark L. Portnoy
For
4,989,656
Withhold
12,607
Broker non-votes
—
--------------------------------------------------------------------------------
Jonathan H. Wheeler, M.D.
For
4,989,956
Withhold
12,607
Broker non-votes
—
The stockholders did not approve the election of the following nominees:
Ajay Badlani
For
3,017,045
Withhold
11,615
Broker non-votes
—
Ki Yong Choi
For
3,018,419
Withhold
10,241
Broker non-votes
—
Michael W. Cho
For
3,017,045
Withhold
11,615
Broker non-votes
—
Michael D. Coffee
For
3,022,195
Withhold
6,465
Broker non-votes
—
Warren Hoeffler
For
3,023,195
Withhold
5,465
Broker non-votes
—
Gary D. Weinhouse
For
3,022,069
Withhold
6,591
Broker non-votes
—
--------------------------------------------------------------------------------
2.
The ratification of the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending November 30, 2012.
For
Against
Abstain
Broker Non-Vote
7,484,861
550,722
5,200
—
3.
The approval of the Company’s 2012 Equity Incentive Plan.
For
Against
Abstain
Broker Non-Vote
4,890,109
3,107,964
33,150
—
Item 9.01 Financial Statements and Exhibits
Not Applicable.
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Cryo-Cell International, Inc.
DATE: July 13, 2012
By:
/s/ David I. Portnoy
David I. Portnoy,
Chairman and Co-Chief Executive Officer
Let's see CHOI SERVE THE POOR BROTHERS THERE OWN MEDICINE.
Today is the day , can't wait . If the POOR BOYS ( still don't know why you call them that ) don't know how to run a cell co and Choi either , maybe there are two mystery letters for who ever wins ? Make room for more Ice Cream Cakes . Where is M S , did he sell his house in Vegas yet ? STAY TUNED for the finally . JMHO
Here I was Hoping for one more release for CHOI's Dinner Plans, Boy those Poor Brothers. They still have a chance to learn they were running a stem cell company for some time now! ROTFLMFAO!!!
It's the night before proxy and all through the board , not a creature was stirring . Lets see if Choi doesn't know how to run a cell company and the poor boys are eliminated , who will run the show ? I know of a recently resigned CEO who left without any explanation who said he wanted CMEX and I think there was mention of a merger before he left , not sure about that but how ironic . We got a perfect storm here . It could turn into 1 good company merging with 1 bad company making 1 BIG BAD COMPANY but that's crazy talk except for the mysterious letter wow what am I writing a screenplay JMHO
CHEERS
One day for CHOI's poor boys dinner . CCEL still over $2.00 not much action on the eve . Have you heard anything about that so called letter suggesting Matt S as a possible candidate for CEO ? Wow think if that happened CCEL would get crushed like CBAI ? I don't think that letter exists , do you ?
So I don't think Choi knows how to run a Cell company . I just read the competitors board and someone said something about a letter to Choi suggesting he take on Matt S the X CEO of CBAI , wow if you want to kill your pps that would be a good choice look at his record over there . Now that letter had to be a joke ? Then again maybe not ? If there was a letter, maybe one of his friends wrote it ? Who knows time will tell .
You said they didn't pay Dan Richards so who cares and the poor boys are going to be replaced , right ?
What about Dan Richard Sexual Assualt with Wanda Dearth, So that means CCEL should pay Dan $200,000 a year for the Rest of his life ! LMAO and what about Mercedes will she get her $955,000 she seeks, time will tell then theres the Poor Brothers 2 for 1 except they Both get Nice Salaries and I know MORE about Stems then those 2 put together. What did they think or did they even know they WERE running a Stem Cell Company. Good Grief!
Hey you never know , being replaced doesn't always mean it's for the better . Look at the competition their CEO resigned after diluting the company into the ground and the new guy is asking for more shares to pay debt , no better then the old guy .
BOY Oh BOY Those Poor Brothers have there Work cut out for them, Don't Worry they JUST LEARNED STEM CELLS CAN HEAL OVER DIFFERENT THINGS. ROTFLMFAO ! WILL THEY BE REPLACED BEFORE THEY REALIZE THEY WERE WORKING FOR A STEM CELL COMPANY !
2 more days and Choi's dinner is served , wonder how the pps will react , what do you think up or down ? CCEL still over 2 bucks and its competitor who is having a juice problem is at 0.0146 wonder who gets the blame for that one ?
Yeah Choi is gonna have them for dinner . What about the pps ?
OH the POOR BROTHERS ! POOR THEM.
4 more days for the POOR BROTHERS . What will the pps do ? CCEL still over 2 bucks and the competitor who was going to steal CMEX and crush CCEL , well it looks like they need more then their own juices to keep running, is stuck at 0.014 with shareholders in an uproar . Now is a good time to STAY TUNED on that one . Why do you call them the POOR BROTHERS ?
I hope so , what will the pps be then ?
July 13th determines THE POOR BROTHERS FATE! WILL CHOI EAT THEM FOR DINNER!
Yup , better take action . The competition is closing in now that they're running on their own juices . Hold the phone , I just read that they're asking shareholders for an increase in shares to pay down debt . So if you need shares to pay down debt how in the world are they running on their on juices or does juices mean shares ? More dilution on the way for the weary longs , seems to be a pattern . CCEL over $2.00 the company running on their own juices 0.014 what will it be after the increase in AS ?
Take Action to Save Cryo-Cell from Further Enriching Co-CEOs
6-26-12 8:30 AM EDT
VOTE THE GOLD PROXY CARD
STOCK OPTION POOL AUTHORIZED BY THE BOARD, IF FULLY ISSUED, WOULD DILUTE CURRENT STOCKHOLDER OWNERSHIP BY APPROXIMATELY 22%
SAN FRANCISCO, June 26, 2012 /PRNewswire/ -- Ki Yong Choi, who owns 2,186,568 shares of common stock of Cryo-Cell International, Inc. (OTCBB: CCEL), or approximately 19.6% of the company's outstanding shares, today issued the following letter to stockholders of Cryo-Cell.
ELECT A BOARD THAT IS COMMITTED TO ACTING IN THE BEST INTERESTS OF ALL STOCKHOLDERS
THE CURRENT BOARD APPROVED WHAT I BELIEVE TO BE EGREGIOUSLY COSTLY EMPLOYMENT CONTRACTS, EXCESSIVE STOCKHOLDER DILUTION AND SQUANDERING OF CASH. I DO NOT BELIEVE THESE ACTIONS SHOW REGARD FOR STOCKHOLDER VALUE.
Dear Fellow Cryo-Cell Stockholder:
I have launched a proxy contest to elect a slate of Board members to chart a new direction for the company. I have been involved with Cryo-Cell for over six years and I am the company's largest stockholder. I have launched this contest because I believe the co-CEOs and the current members of the Board are mismanaging the company by, among other things, granting to the co-CEOs lavish compensation and stock incentives.
Vote the Gold Proxy Card to Change this Pattern
Brothers David Portnoy and Mark Portnoy conducted a proxy contest starting approximately one year ago. After winning the contest and taking control of Cryo-Cell near the end of August 2011, the newly-elected Board gave the Portnoys the co-CEO title, salaries that I believe are exorbitant, 600,000 stock options with no performance related vesting criteria, 600,000 more performance related stock options for next fiscal year and substantial change in control severance packages. The Board also reimbursed the Portnoy Group for litigation costs incurred by David Portnoy, even though a judge had denied his request for reimbursement.
These benefits have been awarded, despite what I believe is mismanagement of the company and deteriorating financial results. Find below a timeline of benefits and compensation awarded to the Portnoys (or Portnoy Group) by the Board.
August 2011 – Portnoy brothers appointed co-CEOs, at combined salaries in excess of the salary of the prior CEO. The Board appointed the Portnoy brothers as co-CEOs and gave them a combined salary that exceeded the previous CEO's salary by more than $50,000[1] despite the fact their proxy statement stated they would "reduce executive cash compensation".
August 2011 – 200,000 options granted immediately to the co-CEOs. The Board granted to each of the brother co-CEOs 100,000 options[2]. There were no vesting related performance criteria associated with these grants and they vest over two years with one third of the options vesting on the date of grant.
August 2011 – Cryo-Cell repaid to the Portnoy Group costs related to the litigation filed by David Portnoy in 2007. The Board approved payment to the Portnoy Group for expenses related to David Portnoy's proxy contest litigation in 2007, even though a judge had denied his request for reimbursement.[3]
December 2011 - New stock option pool of 1,500,000 shares. Fresh off a large stock option grant the brother co-CEOs and the Board created the 2012 Equity Incentive Plan to reserve 1,500,000 shares for additional grants.[4]
December 2011 - 3 months on the job = 400,000 more options unrelated to performance. The Board granted the brother co-CEOs a total of 400,000 additional options priced at $1.72 per share that vest over two years[5]. There were no performance related vesting criteria associated with these grants.
December 2011 - 600,000 performance-related options for the brother co-CEOs. The Board approved an additional 600,000 options for next fiscal year for the brother co-CEOs[6]. I believe the performance related vesting criteria of these grants are easily achievable and not necessarily related to the company's operating performance.
December 2011 – Liberal change in control provision. Not only do I believe that the severance benefits are exorbitant, but the brother co-CEOs can collect them not only if there is a change in control due to a new Board, but also if someone simply submits a competing proxy solicitation. Should there be a change in control prior to December 1, 2012, 600,000 options automatically vest and the brother co-CEOs get a severance package of $850,000. If the change in control happens after October 31, 2013, the 600,000 performance-related options are granted and automatically vest.
December 2011 – Performance criteria for co-CEO bonuses I believe are easily achievable. The Board set three criteria that would allow the brother co-CEOs to collect 100% of their $425,000 cash salary bonus[7]. With 2.3 million shares remaining in the company's share repurchase plan, I believe that further share repurchases will help the brother co-CEOs achieve at least two of their performance goals; the third performance goal remains a mystery. Unfortunately for Cryo-Cell stockholders, repurchasing shares drains the company's cash reserves and does not improve the operating performance of the company.
A summary of the vesting criteria is as follows:
•Criteria 1 - Diluted revenue per share of $1.75. I believe the management team can reach this goal by keeping revenue flat and repurchasing shares[8].
•Criteria 2 - Stock price of $3.75 – Cryo-Cell stock currently trades about 5,000 shares per day – if the company repurchases up to 2.3 million shares, the stock price will likely increase.
•Criteria 3 – Unstated. In the company's SEC filing, the Board stated the third criteria "consists of subjective performance, as determined in the sole discretion of the Committee after consultation with the Executive." Based on the Board's generosity to the brother co-CEOs to this point, I believe this criterion will only favor the brother co-CEOs, as all of the other activities stated above do.
May 2012 - All options in the 2012 Equity Incentive Plan have been granted so Board reserves one million more. Having granted all of the 1,500,000 shares included in the 2012 Equity Incentive Plan within in six months, the Board added 1,000,000 more shares to the Plan, which now totals 2,500,000 shares[9]. This can result in more than 22% dilution to the stockholder base if fully issued. This option pool expansion comes directly after the company reported significant losses in its February 2012 fiscal quarter.
I BELIEVE THE SHARE BUY BACK PROGRAM IS NOT IN THE BEST INTERESTS OF THE COMPANY.
I DO NOT BELIEVE THE ACTIONS OF THIS BOARD SHOW THEY ARE LOOKING OUT FOR ALL STOCKHOLDERS.
To recap: in six months the Board gave the Portnoys the co-CEO title, what I believe are exorbitant salaries, 600,000 options with no performance related vesting criteria, 600,000 more performance-related options for next fiscal year, and substantial change in control severance packages. The Board also reimbursed the Portnoy Group for litigation costs that had been denied to David Portnoy in his 2007 legal action. I cannot think of one way these actions benefit stockholders.
I have carefully chosen what I believe to be a well-rounded group of independent Director nominees with whom I have no existing business relationship. I believe that each Director brings important industry expertise, contacts and the kind of specialized experience that I believe is required to drive stockholder value for Cryo-Cell. As a team, we are completely dedicated to turning around Cryo-Cell.
VOTE THE GOLD PROXY CARD TO MAKE A DIFFERENCE IN CRYO-CELL'S FUTURE
Time is short. No matter how many or how few shares you own, it is important that you return the GOLD proxy card and vote in favor of electing us to represent you in the boardroom. You should WAIT TO RECEIVE the definitive proxy materials and the GOLD proxy card that will be mailed to you. You SHOULD NOT RETURN THE WHITE PROXY CARD or any other proxy card furnished to you on behalf of Cryo-Cell.
What should you do now? Once you receive a GOLD proxy card, vote to elect directors who will work for all of Cryo-Cell's stockholders by signing and returning the GOLD proxy card.
If you have already returned a proxy card, you have every right to change your vote by signing and returning a later-dated GOLD proxy card once it is provided to you.
As the largest stockholder and a person who cares about Cryo-Cell, I vow to work tirelessly to get the company back on track. I thank you and look forward to your support.
Ki Yong Choi
Investor Contact:
Alliance Advisors LLC.
Call Toll Free: (877) 777-2338;
Banks and Brokers Call Collect: (973) 873-7700.
[1] SEC form 10-K filed 2-28-12 and SEC form 8-K filed 12-7-2011.
[2] SEC form 10-Q filed 10-17-2011, p. 15. Options granted August 31, 2011.
[3] SEC form 10-Q filed 10-17-2011, p. 20. Payment approved August 31, 2011. Also see Portnoy v. Cryo-Cell International, Inc. decided by the Delaware Court of Chancery on January 15, 2008.
[4] SEC form 8K filed 12-7-2011. 2012 Equity Incentive Plan approved by Board 12-1-2011.
[5] SEC form 8K filed 12-7-2011. Employment agreement that granted options approved by Board 12-1-2011.
[6] SEC form 8K filed 12-7-2011. Employment agreement that granted options approved by Board 12-1-2011.
[7] SEC form 8K filed 12-7-2011. Employment agreements for David and Mark Portnoy, Section 3.b. approved by Board 12-1-2011.
[8] Per SEC form 10-Q filed 4-16-2012 the company had 11,488,980 diluted shares as of February 29, 2012. With revenue of $17.9 million in the last fiscal year and 11.2 million shares outstanding, if management directs the company to repurchase 1.26 million shares and holds revenue flat, the company will achieve the diluted revenue per share target of $1.75.
[9] SEC form DEFC14A filed June 21, 2012, p. 26.
In connection with his intended proxy solicitation, on June 25, 2012 Ki Yong Choi filed a definitive proxy statement with the Securities and Exchange Commission (the "SEC") to solicit stockholders of Cryo-Cell International, Inc. MR. CHOI STRONGLY ADVISES ALL STOCKHOLDERS OF CRYO-CELL INTERNATIONAL, INC. TO READ THE PROXY STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION, INCLUDING INFORMATION RELATING TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION. THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS ARE AVAILABLE AT NO CHARGE ON THE SEC'S WEBSITE AT HTTP://WWW.SEC.GOV.
PARTICIPANT INFORMATION
In accordance with Rule 14a-12(a)(1)(i) under the Securities Exchange Act of 1934, as amended, the following persons are anticipated to be, or may be deemed to be, participants in any such proxy solicitation: Ki Yong Choi, Gary Weinhouse, Michael W. Cho, Warren Hoeffler, Michael D. Coffee and Ajay Badlani. Certain of these persons hold direct or indirect interests in Cryo-Cell International, Inc. as follows: Mr. Choi holds of record or beneficially a total of 2,186,568 shares of Cryo-Cell International, Inc.'s common stock and Dr. Michael W. Cho is the record holder of 14,166 shares of Cryo-Cell International, Inc.'s common stock. Messrs. Choi, Weinhouse, Cho, Hoeffler, Coffee and Badlani each have an interest in being nominated and elected as a director of Cryo-Cell International, Inc. Information about the participants has been set forth in the definitive proxy statement filed by Mr. Choi with the SEC on June 25, 2012.
SOURCE Ki Yong Choi
Now that's an interesting comment !
Oh I have NO idea about what I was talking about!
Money for what ? What were the allegations ?
The Red Rock partner one, simple its about money
Bye bye CMEX , where did they go , to CBAI ? LMFAO
Really ,then what's the lawsuit about ?
NEXT LAWSUIT! Nyberg et al v. Cryo-Cell International, Inc.
Share | Plaintiffs: Charles D. Nyberg , Mary J. Nyberg and Red Rock Partners
Defendant: Cryo-Cell International, Inc.
Case Number: 8:2011cv00399
Filed: February 25, 2011
Court: Florida Middle District Court
Office: Tampa Office
County: Pinellas
jr,: James S. Moody
Referring Judge: Anthony E. Porcelli
Nature of Suit: Contract - Other Contract
Cause: 28:1332 Diversity-Breach of Contract
Jurisdiction: Diversity
Jury Demanded By: Plaintiff
Access additional case information on PACER
Use the links below to access additional information about this case on the US Court's PACER system. A subscription to PACER is required.
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Cryo-Cell goes into the red as costs rise
Tampa Bay Business Journal
Date: Thursday, March 1, 2012, 6:48am EST
Cryo-Cell International Inc. is still feeling the financial pinch from a proxy fight for control of the company.
Cryo-Cell (OTCQB: CCEL), an Oldsmar stem cell preservation firm, reported a net loss of $2.1 million, or 18 cents a share, for the fiscal year ended Nov. 30, compared to net income of $3.5 million, or 29 cents a share, for the prior fiscal year, a written statement said.
Revenue for fiscal 2011 was $17.9 million, a slight increase from revenue of $17.7 million for fiscal 2010.
The bottom line doesn't tell the whole story, said David Portnoy, chairman and co-chief executive officer.
Portnoy led the dissident investment group that prevailed at the annual meeting last year.
The company's $957,000 in fees related to that meeting are among the extra one-time costs for fiscal 2011, the statement said. The company also set aside $950,000 to pay severance to Mercedes Walton, former chairman and chief executive, although it said in the statement that it doesn’t believe Walton has earned the right to the severance.
The results for fiscal 2011 are indicative of a company in the process of making organizational and operational improvements, Portnoy said.
Cryo-Cell is continuing to improve its IT systems and website, and has embarked on a major rebranding and marketing effort, said Mark Portnoy, co-CEO and David Portnoy’s brother.
Cryo-Cell also implemented a previously announced stock repurchase program and to date has bought back 415,117 shares.
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Cryo-Cell International, Inc.(CCEL)
Company Information:
700 Brooker Creek Blvd.
Suite 1800
Oldsmar, FL 34677
Phone: 813-749-2100
Toll Free: 800-786-7235
Fax: 813-855-4745
Cryo-Cell International, Inc. was established in 1989 with a primary focus on the cryopreservation of umbilical cord (U-Cord®) stem cells for family use. Since our inception, we have been committed to the development and adoption of industry best practices and technologies.
Cord blood stem cell transplants have already changed-and saved-thousands of lives around the world. What's more, science is honing in on other miraculous uses for these precious cells, potentially impacting countless numbers of lives in the future.
Ever-committed to the highest quality, we treat every specimen of umbilical cord blood as if it were our own. Every sample we receive, process and preserve represents a potentially life-saving treatment for a child. This concept fuels our resolve to only hire the most talented candidates, develop and implement the most effective training and continuously fine-tune our processes. From the design and specifications of our collection kit, to the choice of each supplier, our dedication to quality remains unwavering.
Cryo-Cell International, Inc. ("the Company" or "Cryo-Cell") operates in one reportable segment and is principally engaged in cellular processing and cryogenic storage, with a current focus on the collection and preservation of umbilical cord (U-Cord®) blood stem cells for family use. The Company, in combination with its global affiliates currently stores over 200,000 cord blood specimens worldwide for the exclusive benefit of newborn babies and possibly other members of their families. The Company is one of the world's largest and most established private family cord blood stem cell banks in terms of the number of specimens preserved. Its headquarters facility in Oldsmar, Florida handles all aspects of its U.S.-based business operations, including the processing and storage of specimens. The specimens are stored in commercially available cryogenic storage units at the Company's technologically and operationally advanced facility in Oldsmar, Florida.
In recent years, the Company has expanded its research and development ("R&D") activities to develop technologies related to stem cells other than umbilical cord blood stem cells such as fetal and maternal stem cells harvested from the placenta. During 2006, the Company discovered novel technology related to menstrual stem cells. In November 2007, the Company announced the launch of its C'elleSM service related to this patent-pending technology, and the Company continues to focus its current research and development activities principally on the C'elle service and related new menstrual stem cell technologies. The Company is actively marketing the C'elle service which is available both through a bundled offer with the Company's U-Cord service and on a stand-alone basis.
Employees: At November 30, 2009, there are 48 full-time employees and 1 part-time employee on the staff of the Company. Additional employees and staff will be hired on an "as needed" basis. The Company believes its relationship with its employees is good. None of our employees are members of any labor union, and we are not a party to any collective bargaining agreement.
Here's a video which shows the importance of saving cord blood: http://video.foxnews.com/11461523/cord-blood-miracle/?category_id=949437d0db05ed5f5b9954dc049d70b0c12f2749
Cryo-Cell International, Inc. holds an equity position in Saneron CCEL Therapeutics (Saneron), a University of South Florida spin-out biotechnology company. Saneron is committed to advancing research using readily available, non-controversial cord blood stem cells. Saneron's research focus is to actively seek new cellular therapy discoveries for treatment of and intervention in devastating, life-threatening illness and conditions such as heart attack, Alzheimer's disease, stroke, and spinal cord injury.
For more information, visit Saneron's Web site: www.saneron-ccel.com
Cryo-Cell is International
In order to provide the Cryo-Cell U-Cord® Stem Cell Preservation Service abroad, we are establishing affiliates in countries around the world. Currently, we have affiliates in the following areas:
See page 15 of SEC filing for further details: http://www.sec.gov/Archives/edgar/data/862692/000119312511189394/d10q.htm
C'elle distributor opportunity for doctors that specialize in female issues. See video:
http://www.celle.com/distributorVideo.aspx#
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Cryo-Cell International, Inc. has been a publicly traded company since 1991. Governed by the Securities & Exchange Commission, our common stock trades under the OTC Bulletin Board symbol CCEL. We specialize in U-Cord® stem cell preservation for family use.
Investor Relations: http://www.cryo-cell.com/investor_relations/
Investor Information: To request Cryo-Cell's Investor's Information Kit, or to receive Cryo-Cell's press releases via email, please fill out this form: http://www.cryo-cell.com/investor_relations/investor_info.asp
Section 16 Filings: All Insiders Annual Reports Quarterly & Other Reports Stock Quote Fundamentals News Chart Real-Time Filings
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Recent News:
http://www.cryo-cell.com/investor_relations/
http://finance.yahoo.com/q/h?s=CCEL.OB+Headlines
http://www.nasdaq.com/aspxcontent/newsheadlines.aspx?symbol=CCEL&selected=CCEL&SourceCode=PMZ
Filings:
Transfer Agent:
Continental Stock Transfer & Trust Company
17 Battery Place, 8th Floor
New York 10004
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Share Structure:
See SEC filing link for latest share structure info.
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