Home > Boards > US OTC > Delisted > Intellicell Biosciences, Inc. (fka SVFC)

You can find in the last two 10-Qs

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (2) | Next 10 | Previous | Next
TheSkunk Member Profile
Followed By 20
Posts 1,068
Boards Moderated 0
Alias Born 07/08/13
160x600 placeholder
Incyte Says Withdrawing NDA for Parsaclisib Is a 'Business Decision'
By Stephen Nakrosis
Top Company News of the Day
Texas Instruments 1Q Guidance Above Wall Street Targets
Texas Instruments' 4Q Profit, Revenue Growth Beat Wall Street Targets
Blackstone Real Estate Income Trust Offering $60 Billion in Stock in Revised Filing
2-Year Treasury Yield Rises to 1.025% -- Data Talk
10-Year Treasury Yield Rises to 1.784% -- Data Talk
30-Year Treasury Yield Rises to 2.129% -- Data Talk
Wheat Rises Further on Russia-Ukraine Tensions - Daily Grain Highlights
Front Month Nymex Natural Gas Rose 0.65% to Settle at $4.0530 -- Data Talk
Front Month Nymex RBOB Gasoline Rose 2.56% to Settle at $2.4595 -- Data Talk
Wells Fargo Boosts Dividend
Ericsson 4Q Sales, Net Beat Expectations, ADRs Up
NextEra Energy Shares Down 7% After Revenue Misses Estimates
PayPal on Track for Lowest Close Since June 2020 -- Data Talk
Southern California Gas to Invest $50 Million Into Communities It Serves
STOXX Europe 600 Index Ends 0.71% Higher at 459.59 -- Data Talk
FTSE 100 Index Ends 1.02% Higher at 7371.46 -- Data Talk
DAX Ends 0.75% Higher at 15123.87 -- Data Talk
CAC 40 Index Ends 0.74% Higher at 6837.96 -- Data Talk
STOXX Europe 50 Index Ends 0.83% Higher at 3676.16 -- Data Talk
EURO STOXX 50 Index Ends 0.59% Higher at 4078.26 -- Data Talk
U.S. Crude-Oil Stockpiles Likely Declined in DOE Data, Analysts Say
Air Liquide to Supply Semiconductor Manufacturing Site in Arizona
FTSE 100 Finishes Higher, Clinging Onto Rebound
Norfolk Southern Raises Quarterly Dividend to $1.24 per Share
General Electric Down 7% After Revenue Miss
Eaton Corp. on Track for Largest Percent Decrease in Nearly a Year -- Data Talk
France Sells EUR3 Billion in New July 2053 OATei, Gets Strong Demand -- Update
American Express Up Over 6%, on Pace for Largest Percent Increase Since November 2020 -- Data Talk
Immix Biopharma Sees Positive Data for Pancreatic Cancer Treatment in Mouse Trial
U.S. Mid-Atlantic Factory Activity Lost Momentum in January -- Richmond Fed
TheSkunk   Thursday, 11/07/13 01:34:43 AM
Re: ImOnABoat post# 29786
Post # of 91005 
You can find in the last two 10-Qs where the Salary Expense is broken out from SG&A it shows the salaries as "accrued".

The last 10-K we got in September 2013 for the year ended 2012 (yes it was late) shows it better.

It describes salary expense in a couple of places but the quickest way I can direct you to the verbiage that explains both salaries and what Caz stated regarding $2,000,000 in revenues can be found in Section 8 Related Party Transactions.


(The 10-K has a table that I can't get to look right in the post)


8. Related Party Transactions

Officer Salary

The Company has recorded a salary expense of $275,000 and $275,000 for the year ended December 31, 2012 and 2011, respectively, related to the Company’s Chief Executive Officer and a salary expense totaling approximately $205,000 and $188,900 the year ended December 31, 2012 and 2011, respectively, recorded for the Company’s Executive Vice President, a shareholder and the spouse of the Company's Chief Executive Officer.

Research and Development

Research and Development costs for the year ended December 31, 2012 and 2011 is $0 and $156,000, respectively, included fees accrued and payable to the Chief Executive Officer for services as the attending physician in thirty-eight (38) patient cases included as part of the Company’s ongoing research of its technologies and processes. Payment of these fees will be contingent upon the Company either generating $2.0 million in revenues or completing an equity offering of the Company’s common stock or other securities equal to or greater than $5.0 million, whichever occurs first. As of December 31, 2012 and 2011, the following amounts were owed to related parties:

December 31, 2012 December 31, 2011

Accrued salaries $753,647 $374,932

Accrued research fees $361,000 $361,000

The way I read this section, only the accrued research fees is paid to the Doc if either of the two triggers are met. $2,000,000 in revenue or an equity offering worth $5,000,000 or more.

So the accrued salary expenses won't be paid at the $2,000,000 revenue milestone or equity offering of $5,000,000.

At some point I'm sure the Doc would like to get paid for past salary but that looks to be a ways away.

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (2) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences