Hyperbole? Please provide an example where any of my opinion was exaggerated...
The filing states that rent has been paid OR accrued. Like most filings, this is open to interpretation. I would venture to say (in my opinion) that some rent has been paid and some accrued. In other words, some rent owed to the CEO for use of the space has been accrued since Intellicell has not had the cash to pay for it. This amount would represent, in essence, a loan to the company from the CEO. Will he benefit from this down the road if the company is successful? Absolutely. Why shouldn't he? I believe we've already seen a portion of the company's accrued rent paid back to the CEO by way of use of the product, licensing, etc. Intellicell, at the moment, doesn't have cash to pay rent so it's taken out in trade. Again, fairly standard. I'm assuming there aren't many landlords in NY who would be willing to accept use of Vascular Fraction Cells in exchange for rent...
The set up is also beneficial to Intellicell for a few reasons:
1. Rent can be paid to the CEO through trade (use of cells, licensing, etc). How else is Intellicell going to pay rent right now?
2. Being co-located with Regen allows for demonstrative use of Intellicell's process. You have noticed that Cha has both their lab and medical application center located in the same place, yes?
3. Since the assets of the office are not owned by Intellicell, they cannot be foreclosed upon (ding ding ding).
4. As a startup, it would have been highly unlikely the company could have secured a reputable office location without revenue or assets. Regen provided the credit history.
Again, I will point out that in your own post you've stated that everything is there in the filings, in black and white. For everyone to see and come to their own conclusions. The company is not attempting to hide this arrangement.
Just my un-exaggerated opinion.
AI
