REMEMBERING LIES !Stem Cell Therapy International Inc. (OTC BB:SCII.OB) announced that they have obtained short term financing, enabling the Company to "update" and finalize the merger between Stem Cell Therapy International, Inc. and the Histostem Corporation, Ltd. (Korea) which has been filed previously with the SEC. I don't know what it means to 'update' a merger but it would appear this loan will get it finalized.
The Company got a whopping $150,000 and 6 months or less to repay to the lenders $187,500.
This short term financing will allow the Company to continue to "pay necessary vendors to maintain the Company's public filing requirements, begin collaborations of operations between Histostem and AmStem International, finish the documents necessary to continue with the private placement and proceed with the execution of the Company's strategic plan."
AmStem International is the name of the new company intended to result from the merger of Stem Cell Therapy International, Inc. and HistoStem, Ltd. of Korea. Histostem reportedly operates the largest accredited Cord Blood & Stem Cell bank in the world (more than twice as large as its nearest competitor) and is said to be already successfully treating patients with its patented, Korean FDA-approved stem cell therapies. Histostem is one of only a few stem cell companies in the world currently earning several million dollars in income from its cellular products and technology.
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