U.S. Stem Cell, Inc. Auditor Raises 'Going Concern' Doubt
July 15, 2021
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U.S. Stem Cell, Inc. filed its 10-K on Jul 16, 2021 for the period ending Dec 31, 2019. In this report its auditor, Russell Bedford Stefanou Mirchandani LLP - RBSM LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
U.S. Stem Cell, Inc. is a biotechnology company. The Company is focused on the discovery, development and subject to regulatory approval and commercialization of autologous cell therapies for the treatment of chronic and acute heart damage. The Company's product candidates are MyoCell, MyoCell SDF-1 and Adipocell. MyoCell and MyoCell SDF-1 product candidates are clinical therapies designed to populate regions of scar tissue within a patient's heart with autologous muscle cells, or cells from a patient's body, for the purpose of improving cardiac function in chronic heart failure patients. MyoCell SDF-1 is similar to MyoCell except that the myoblast cells to be injected for use in MyoCell SDF-1 will be modified prior to injection by an adenovirus vector or non-viral vector. Adipocell product candidate is a cell therapy kit with multiple possible treatment applications using autologous adipose cells. It is also investigating the use of adipose cells in a variety of clinical applications.
U.S. STEM CELL, INC. 
