International Stem Cell Corp. (ISCO)

[236T568]

ISCO Chief Financial Officer unexpectedly resigns in March 2018 and ISCO is having difficulties finding a replacement as of May 15, 2018


https://www.sec.gov/Archives/edgar/data/1355790/000156459018013622/isco-nt10q_20180331.htm

International Stem Cell Corporation (the “Company”) has determined it will not be able to file its Quarterly Report on Form 10-Q for the fiscal year ended March 31, 2018 (the “Form 10-Q”) within the prescribed time period without unreasonable effort or expense. The Company expects that the Form 10-Q will be filed no later than the fifth calendar day following the prescribed due date.


The Form 10-Q cannot be filed by the prescribed due date because the Registrant is experiencing delays in the compilation of certain financial and other information required to be included in the Form 10-Q due to the recent unexpected departure of its acting Chief Financial Officer and difficulties in recruiting a replacement.



https://www.sec.gov/Archives/edgar/data/1355790/000156459018007802/isco-10k_20171231.htm#Item10_DIRECTORS_EXECUTIVE_OFFICERS

Jennifer Stephens, CPA, Acting Chief Financial Officer, joined the Company in August 2017. Ms. Stephens has served an extensive number of companies in various management level accounting positions assisting with technical accounting research, SEC filings, and SOX 404 implementations and compliance. Preceding her years as an accounting and finance consultant, Ms. Stephens worked with Ernst & Young LLP in a senior supervisory role in the San Diego audit practice where she worked with clients ranging in size from closely held, venture capital backed start-up companies to billion dollar SEC registrants. Ms. Stephens received a B.A. in Business Economics and Accounting from the University of California, Santa Barbara and is a licensed CPA. Ms. Stephens ceased serving as our Acting Chief Financial Officer in March 2018.