Cell Source, Inc. Files Q1 2024 10-Q

TL;DR

Cell Source (CLCS) Q1 10-Q filed. Shows preferred stock & notes payable as of March 31, 2024.

AI Summary

Cell Source, Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as TICKET TO SEE, INC., is based in New York and operates in the Pharmaceutical Preparations sector. The filing details financial information including various series of convertible preferred stock and notes payable as of March 31, 2024, and December 31, 2023.

Why It Matters

This filing provides a snapshot of Cell Source, Inc.'s financial health and capital structure at the end of the first quarter of 2024, which is crucial for investors and stakeholders to assess the company's financial standing.

Risk Assessment

Risk Level: low — This is a routine financial filing (10-Q) that primarily reports historical financial data and does not contain significant new operational or strategic information that would immediately alter risk perception.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-07-29 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Cell Source, Inc. (company) — Filer of the 10-Q
• TICKET TO SEE, INC. (company) — Former name of Cell Source, Inc.
• 20240331 (date) — End of the reporting period
• 20240729 (date) — Filing date

FAQ

Filing Documents

• form10-q.htm (10-Q) — 967KB
• ex31.htm (EX-31) — 19KB
• ex32.htm (EX-32) — 7KB
• 0001493152-24-029448.txt ( ) — 4201KB
• clcs-20240331.xsd (EX-101.SCH) — 27KB
• clcs-20240331_cal.xml (EX-101.CAL) — 32KB
• clcs-20240331_def.xml (EX-101.DEF) — 208KB
• clcs-20240331_lab.xml (EX-101.LAB) — 252KB
• clcs-20240331_pre.xml (EX-101.PRE) — 228KB
• form10-q_htm.xml (XML) — 542KB

SIGNATURES

SIGNATURES 20 2 PART I – FINANCIAL INFORMATION Item 1. Financial Statements. CELL SOURCE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 (Unaudited) Assets Current Assets: Cash $ 23 $ 22,203 Prepaid expenses 80,373 160,750 Other current assets 2,193 12,218 Total Assets $ 82,589 $ 195,171 Liabilities and Stockholders' Deficiency Current Liabilities: Accounts payable $ 1,882,402 $ 1,467,052 Accrued expenses 1,321,469 1,225,195 Accrued expenses - related party 159,000 144,500 Accrued expenses 159,000 144,500 Accrued interest 938,432 939,549 Accrued interest - related parties 1,620,097 1,480,117 Accrued interest 1,620,097 1,480,117 Accrued compensation 973,658 960,554 Notes payable, net of debt discount of $ 0 and $ 776 as of March 31, 2024 and December 31, 2023, respectively 711,093 710,317 Notes payable - related parties 150,000 150,000 Notes payable 150,000 150,000 Convertible notes payable, net of debt discount of $ 12,001 and $ 16,179 as of March 31, 2024 and December 31, 2023, respectively 982,999 1,078,821 Convertible notes payable - related parties, net of debt discount of $ 5,664 and $ 0 as of March 31, 2024 and December 31, 2023, respectively 7,456,044 7,315,036 Convertible notes payable 7,456,044 7,315,036 Derivative liabilities 32,300 33,000 Financing liability 22,033 42,033 Advances payable 135,000 135,000 Advances payable - related party 100,000 100,000 Advances payable 100,000 100,000 Accrued dividend payable 352,205 25,540 Total Liabilities 16,836,732 15,806,714 Commitments and contingencies (Note 8) - - Stockholders' Deficiency: Convertible Preferred Stock, $ 0.001 par value, 10,000,000 shares authorized; Series A Convertible Preferred Stock, 1,350,000 shares designated, 1,342,195 shares issued and outstanding as of March 31, 2024 and December 31, 2023; liquidation preference of $ 10,292,

View Full Filing

View this 10-Q filing on SEC EDGAR