Business Context and Reporting Period
Company: Biorestorative Therapies, Inc. (formerly Stem Cell Assurance, Inc.)
Filing Type: Form 8-K (Current Report)
Date of Report: August 22, 2011
Reporting Period: Specific event date of August 22, 2011.
The Company entered into a Tangible Property License Agreement with the University of Utah Research Foundation and the University of Utah. The agreement grants the Company a non-exclusive license to use discarded adipose (fat) tissue samples for internal research purposes for a term of two years.
Key Financial Metrics
This filing is a Current Report (Form 8-K) regarding a material definitive agreement and does not contain financial statements. Consequently, the filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The primary material change reported is the execution of the Tangible Property License Agreement on August 22, 2011. This agreement facilitates the Company's internal research capabilities by providing access to specific biological samples.
Guidance, Outlook, and Risks
Management Commentary: The Company issued a press release on August 25, 2011, announcing the agreement. The filing explicitly states that the information in the press release is furnished, not filed, and will not be incorporated by reference into registration statements unless specifically identified.
Risks and Contingencies: The filing includes a disclaimer stating that the furnishing of information is not intended to constitute a determination or admission that the information is material or complete, nor that investors should consider this information before making an investment decision.
Investor Verification Checklist
- Verify the specific terms and duration of the Tangible Property License Agreement (Exhibit 10.1).
- Confirm the Company's current name status, noting the transition from Stem Cell Assurance, Inc. to Biorestorative Therapies, Inc.
- Review the press release dated August 25, 2011 (Exhibit 99.1) for additional context not included in the 8-K text.
- Check subsequent filings for financial impact or progress reports related to the research utilizing the licensed tissue samples.