Intellicell Biosciences Inc (fka SVFC)

[Srchn41]

It is a positive that the damages appear to be on the way toward being dismissed, but let's not get ahead of ourselves here. The case isn't over until Judge Oing makes a final ruling (See quote #2 below). At this point we don't even have that court date yet. It might not come until March for all we know. The system moves slowly.

This PR is all about passing on the good news. This is about Gammerman's recommendation to Oing on monetary damages (see quote #1 below). It is understandable that the company would want to counterbalance the news of the A/S and O/S increase. It is natural that they would choose to not mention any results that are perhaps not so favorable. Note that there is no mention of the disputed facility fee shares, nor is there any mention of the approximately $170K that is the disputed portion of the debt.

Ironridge will fight this decision about damages in front of Oing. The PR as much as states this. They will also press ahead about the facility fee shares and the disputed $170K. The PR says nothing about these issues. I'm not even certain these two issues were even considered by Gammerman since they are probably not considered to be part of damages. If Gammerman had made any recommendations about these two matters that were in Intellicell's favor, you know that the PR would have mentioned them. Bottom line, the case is not yet over.

in a decision on each of Ironridge's claims against the Company, fully justified IntelliCell's position by ruling against each of Ironridge's and TCA's demands for monetary damages

While Ironridge may object to Judge Gammerman's Report & Recommendation, it is our view that the decision puts all of those claims to bed