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Replies to post #71366 on Intellicell Biosciences Inc (fka SVFC)
06/20/14 11:19 AM
In January and February of 2014, Redwood converted a total of $316,213 in principal from the outstanding debt in Redwood Deal #2 into 311,154,640 shares of the Company’s common stock.
In March of 2014, Redwood converted $46,860 of accrued interest from the Redwood Deal #2 into 22,000,000 shares of the Company’s common stock.
As of March 31, 2014 and December 31, 2013, the principal balance of the Redwood Deal #2 was $-0- and $316,213, respectively and accrued interest was $4,740 and $11,271, respectively.
In October and November 2013, $71,670 of the principal balance of the JMJ Note were converted into 32,500,000 shares of the Company’s common stock.
In January 2014, $7,200 of principal was converted into 7,500,000 shares of the Company’s common stock.
As of March 31, 2014 and December 31, 2013, the principal balance of the JMJ Note was $46,130 and $53,330, respectively and accrued interest was $24,444 and $24,444, respectively.
On March 24, 2014, Ironridge Global sold the TCA Note to Dominion Capital under the security settlement agreement executed between the Company and Dominion Capital, the Company issued a convertible debenture to Dominion Capital in the amount of $746,092. The $746,092 principal balance included the original TCA Note of $500,000, accrued interest and pre-payment penalties of $246,092.
On January 1, 2014, the Company issued an $80,000 convertible promissory note to Dr. Steven Victor, the Company’s CEO, to convert $80,000 of accrued salary, and bears simples interest of 12% per annum. On March 26, 2014, the $80,000 convertible promissory note was assigned to Gene Kaslow (the “Kaslow Note”).
On March 19, 2014, the Gene Kaslow converted the full $80,000 of principal into 31,720,856 shares of the Company’s common stock.
As of March 31, 2014, the Kaslow Note had a principal balance of $-0- and accrued interest of $2,400.
TOTAL STOCKHOLDERS' DEFICIT (21,167,614) March 31, 2014 (9,849,067) December 31, 2013
NET LOSS $ (13,004,773) $ (1,058,459)
Number of shares of common stock issued and outstanding as of June 18, 2014 is 2,355,075,373.
Accumulated deficit (61,908,223) March 31, 2014 (48,903,450) December 31, 2013
Number of shares of common stock issued and outstanding as of June 18, 2014 is 2,355,075,373.
The number of outstanding shares of the Registrant’s Common Stock, $0.0001 par value, at May 9, 2014 was 2,230,314,377.
