Intellicell Biosciences Inc (fka SVFC)

[BigBadWolf]

whoever said Doc owns the building, the word company was used & SVFC pays a majority of the expenses for that compnay that Doc owns, aka his private practice, which is located @ 460 Park Avenue & SVFC has guaranteed his private practice's 13 year lease & the $650K security deposit btw we = SVFC

ITEM 2. PROPERTIES.

Our corporate offices and laboratory are located at 460 Park Avenue, 17 th Floor, New York, New York 10022. We are currently provided office facilities and related services by a company owned by Dr. Steven Victor, our chief executive officer.

Such company entered into a 13 year lease for the office space located at 460 Park Avenue for which we have unconditionally guaranteed any and all obligations owed under the lease to the landlord. In connection with the execution of the lease, we established a restricted cash account in the amount of approximately $650,000 to be used as a security deposit under the lease.

As of the date hereof, we have been unsuccessful with a request to the landlord to have the lease assigned to us so that we become the primary tenant under the terms of the lease.

Rent and office administrative expenses
Included in general and administrative expenses are $467,803 and $188,839 of costs for the years ended December 31, 2012 and 2011, respectively, including $150,000 for our previous office facilities and administrative office services provided by a company owned by our chief executive officer and majority shareholder and approximately $318,000 for the office space located at 460 Park Avenue.

actually even in SVFC's own financials the above is stated clearly & verified above as well. the landlord was easy... now I was going to go surf today but maybe I'll just take the laptop for true comprehensive purposes.

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Long Profits...the only real truth