SUNRISE, FL / ACCESSWIRE / September 13, 2017 / U.S. Stem Cell, Inc. (OTCQB: USRM), a Florida corporation and leader in novel regenerative medicine solutions and physician-based stem cell therapies for human and animal patients, today submitted a Form 8-K to the U.S. Securities and Exchange Commission (SEC), reporting a debt restructuring agreement it entered into with Hunton & Williams LLP on August 31, 2017.
The Hunton agreement is part of U.S. Stem Cell, Inc.'s continued effort to clean up the balance sheet and lower the company's debt. This agreement is estimated to provide a debt relief of approximately $393,180. A copy of the SEC Form 8-K filing is available at: https://www.sec.gov/Archives/edgar/data/1388319/000118518517001988/usstemcell8k091117.htm
"Treating patients, generating revenue and restructuring debt has always been a top priority at US Stem Cell Inc," said the company's President & CEO, Mike Tomas. "Hunton & Williams has been an extraordinary legal partner of the company and we are very grateful for their continued support. Negotiating the Hunton debt allows the company to freeze the interest payments on two notes from 2009 and begin to work towards paying off this long-standing debt."
U.S. Stem Cell, Inc. is an emerging enterprise in the regenerative medicine / cellular therapy industry. Since 1999, the company has completed more clinical treatments (for both humans and animals) than any other regenerative company in the world. U.S. Stem Cell, Inc. is focused on the discovery, development, and commercialization of cell-based therapies that prevent, treat, or cure disease by repairing and replacing damaged or aged tissue, cells, and organs and restoring their normal function. U.S. Stem Cell, Inc. has also partnered with other companies to build a national distribution network for stem cell therapies using the U.S. Stem Cell, Inc. developed technologies and is on track to add an additional 10 stem cell treatment centers and clinics in the U.S.
About U.S. Stem Cell, Inc.
US Stem Cell, Inc. (formerly Bioheart, Inc.) is an emerging enterprise in the regenerative medicine / cellular therapy industry. We are focused on the discovery, development, and commercialization of cell based therapeutics that prevent, treat, or cure disease by repairing and replacing damaged or aged tissue, cells, and organs and restoring their normal function. We believe that regenerative medicine / cellular therapeutics will play a large role in positively changing the natural history of diseases ultimately, we contend, lessening patient burdens, as well as reducing the associated economic impact disease imposes upon modern society.
Our business, which includes three operating divisions (US Stem Cell Training, Vetbiologics, and US Stem Cell Clinic), includes the development of proprietary cell therapy products, as well as revenue generating physician and patient based regenerative medicine / cell therapy training services, cell collection and cell storage services, the sale of cell collection and treatment kits for humans and animals, and the operation of a cell therapy clinic. Management maintains that revenues and their associated cash in-flows generated from our businesses will, over time, provide funds to support our clinical development activities as they do today for our general business operations. We believe the combination of our own therapeutics pipeline combined with our revenue generating capabilities provides the Company with a unique opportunity for growth and a pathway to profitability.
Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "to," "plan," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue," or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2016, and its Quarterly Reports on Form 10-Q.
U.S. Stem Cell, Inc.
13794 NW 4th Street, Suite 212
Sunrise, Fl 33325
Email: [email protected]
SOURCE: U.S. Stem Cell, Inc.