The DR has spoken - PR has been released!!! :) $SVFC
NEW YORK, NY -- (Marketwired) -- 03/12/14 -- IntelliCell BioSciences, Inc. ("IntelliCell" or the "Company") (OTCQB: SVFC), a regenerative medicine company utilizing adult autologous vascular cells (SVFCs) derived from the blood vessels found in adipose tissue, announced today that it has closed on a round of financing from Yorkville Advisors, LLC .
IntelliCell's Chief Executive Officer, Dr. Steven Victor , remarked, "This is a turning point for IntelliCell BioSciences . With the infusion of this capital, we will not only be able to fully open our New York flagship center, but also open an additional strategically placed remote cellular lab. We believe this will allow us to implement our business model."
According to Mark Angelo , "We are pleased to have closed this transaction with IntelliCell and look forward to working with management over the course of our investment."
Owen May stated, "We are extremely excited about IntelliCell BioSciences's stem cell technology and we believe that the new relationship with the Andrews Research and Education Foundation will be a pivotal step in better assessing the use of this therapy in sports medicine."
About IntelliCell Biosciences
IntelliCell is a pioneering regenerative medicine company focused on the expanding regenerative medical markets using adult autologous stromal vascular fraction cells (SVFCs) derived from the blood vessels in the adult adipose tissue. IntelliCell Biosciences has developed its own patented technology and protocol to separate adult autologous vascular cells from adipose tissue without the use of enzymes. IntelliCell will also be seeking to develop technology-licensing agreements with technology developers, universities, and international business entities.
About Yorkville Advisors
Yorkville Advisors is a global alternative investment manager. Over the last decade, Yorkville has been specializing in providing flexible, innovative debt and equity investments, and financing to
I am long but a litlle nervous. Mark Angelo and Yorkville Advisors, LLC were charged by SEC with fraud 2 years ago
#SEC Charges Hedge Fund Adviser and Two Executives with Fraud
The Securities and Exchange Commission announced the filing today of a civil enforcement action in the United States District Court for the Southern District of New York, charging a former $1 billion hedge fund advisory firm and two executives with scheming to overvalue assets under management and exaggerate the reported returns of hedge funds they managed in order to hide losses and increase the fees collected from investors.
Today’s complaint alleges that New Jersey-based Yorkville Advisors LLC, founder and president Mark Angelo, and chief financial officer Edward Schinik enticed pension funds and other investors to invest in their hedge funds by falsely portraying Yorkville as a firm that managed a highly-collateralized investment portfolio and employed a robust valuation procedure. They misrepresented the safety and liquidity of the investments made by the hedge funds, and charged excessive fees to the funds based on the fraudulently inflated values of the investments.
According to the SEC’s complaint, Yorkville, Angelo, and Schinik defrauded investors in the YA Global Investments (U.S.) LP and YA Offshore Global Investments Ltd hedge funds. The SEC alleges that Yorkville and the two executives:
Failed to adhere to Yorkville’s stated valuation policies.
Ignored negative information about certain investments by the funds.
Withheld adverse information about fund investments from Yorkville’s auditor, which enabled Yorkville to carry some of its largest investments at inflated values.
Misled investors about the liquidity of the funds, collateral underlying the investments, and Yorkville’s use of a third-party valuation firm.
The SEC alleges that by fraudulently making Yorkville’s funds more attractive to potential investors, Angelo and Schinik enticed more than $280 mil