CLCS Cell Source, Inc.
Distress ·
Cell Source, an OTC Pink company, signed a 10-Q on May 14, 2026 for the quarter ended March 31, 2025. It reports $1,240 of cash, a going-concern warning, and notes past due, while it prepares a Nasdaq uplisting.
Cell Source closed $1,875,000 of original issue discount convertible notes for $1,500,000 in gross proceeds. The notes convert at 90% of a recent low price, and buyers also received warrants at $.40.
Cell Source's July 16, 2025 Form 15 checked the rule for suspending reporting duties. Its later filing list shows more reports, and in January 2026 the company said it was preparing a Nasdaq uplist.
Marcum LLP resigned as Cell Source's auditor on June 26, 2025, after CBIZ CPAs took over its attest practice. Marcum's reports on 2022 and 2023 carried a going-concern paragraph.
The company says it is still compiling information for the report. It expects to file no later than the fifteenth calendar day after the due date.
Cell Source, Inc. is a cell therapy company focused on immunotherapy. Its Veto Cell technology is licensed from Yeda Research & Development Company Limited, the commercial arm of the Weizmann Institute of Science, and its current research and development is conducted at the University of Texas MD Anderson Cancer Center in Houston, Texas. The company says the technology aims to induce sustained tolerance of transplanted cells or organs with only mild immune suppression. Veto Cell technology is described as currently in a trial in the US. The company plans to combine it with CAR T cell therapy as a VETO CAR-T treatment for patients in relapse and in remission. The target areas named in the text include allogeneic stem cell transplantation for blood cancers, solid tumors treated with CAR-T, organ transplantation, type one diabetes and sickle cell anemia.
| Product or program | What it is | Stage |
|---|---|---|
| Veto Cell technology | Immune tolerance technology for haploidentical stem cell transplants in blood cancer | currently in a trial in the US |
| VETO CAR-T | Veto Cells combined with CAR T cell therapy for blood cancer patients | planned |
| Line | FY2024 | FY2023 |
|---|---|---|
| Net income (loss) | -$4.5 million | -$5.3 million |
| Cash from operations | -$2.7 million | -$2.3 million |
| Cash and equivalents | $74,631 | $22,203 |
Our latest story on this, dated May 14, 2026: "Cell Source's delayed 10-Q shows $1,240 in cash and $11.1 million of past-due notes". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Jan 15, 2026: "Cell Source closes $1.875 million convertible note placement and plans Nasdaq uplist". The story links the filing or release it is based on. Read the story.
Cell Source, Inc. trades under the ticker CLCS on OTC.
Cell Source, Inc. is listed on OTC.
The SEC Central Index Key (CIK) for Cell Source, Inc. is 1569340. Its filings are on SEC EDGAR.
67,945,856 shares as of 2026-05-13, per the cover page of its 10-Q filed 2026-05-14.
Our directory records Cell Source, Inc. under United States.
Our directory classifies Cell Source, Inc. as: Biotechnology. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Cell Source, Inc. is US15114L1044.
aibio.space lists Cell Source, Inc. among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as NV.
Cell Source, Inc. is a cell therapy company focused on immunotherapy. Its Veto Cell technology is licensed from Yeda Research & Development Company Limited, the commercial arm of the Weizmann Institute of Science, and its current research and development is conducted at the University of Texas MD Anderson Cancer Center in Houston, Texas.
Veto Cell technology: Immune tolerance technology for haploidentical stem cell transplants in blood cancer Stage: currently in a trial in the US.
VETO CAR-T: Veto Cells combined with CAR T cell therapy for blood cancer patients Stage: planned.
Cell Source, Inc. reported a net loss of $4.5 million for the fiscal year ended Dec 31, 2024, and used $2.7 million of cash in operations, per its annual report to the SEC.
The quarterly filing for March 2025 disclosed month-to-month funding and continuing substantial doubt. Source
The issuer disclosed the January 2025 director loan from George Verstraete with $327,000 paid for $385,860 face principal. Source
The issuer disclosed first-quarter 2025 notes with $50,000 in proceeds and $66,080 principal, convertible into common stock on a default. Source
The issuer disclosed a $150,000 note extension and waiver of an existing default. Source
The issuer disclosed $200,000 net received under a secured, conditional multi-tranche facility. Source
The issuer disclosed $310,000 received from subsequent preferred subscriptions and attached warrants. Source
The issuer disclosed $100,000 received from a subsequent common-stock subscription. Source
The issuer disclosed later delivery of common shares paid for during the reported quarter. Source
The issuer disclosed later delivery of preferred shares paid for during the reported quarter. Source
The issuer disclosed payment-in-kind preferred dividends using common shares. Source
The issuer disclosed notes with $50,000 proceeds and $62,500 face, subsequently past due. Source
The issuer disclosed notes with $30,000 proceeds and $37,500 face, subsequently past due. Source
The issuer disclosed $400,000 proceeds from $500,000 face notes and equity attachments. Source
The issuer disclosed $9,251 proceeds from a discounted note subsequently past due. Source
The issuer disclosed a related-party note with $149,500 proceeds and $186,875 face principal. Source
The issuer disclosed $450,000 received from discounted notes with July-August scheduled maturities. Source
The issuer disclosed satisfaction of an older note and a new $250,000 secured loan. Source
The issuer disclosed a later discounted convertible note with $50,000 received and a November scheduled maturity. Source
The issuer disclosed repeated extensions of $50,000 and $25,000 note maturities with additional warrants. Source
The issuer disclosed an extension of a convertible note with additional warrants. Source
The annual report for 2024 disclosed continuing substantial doubt. Source
The annual report disclosed November 2024 common subscriptions at a historical $0.35 price. Source
The issuer announced completed original-issue-discount convertible notes and attached warrants. Source
Filed to end its SEC reporting. SEC Form 15-12G. Source
Reported a change of independent auditor. SEC Form 8-K (Items 4.01,9.01). Source
Marcum resigned and CBIZ was engaged following the attest-business acquisition. Source
Told the SEC a periodic report would be filed late. SEC Form NT 10-K. Source
The annual report dates a $202,500 note issuance to this day. Source
The then-quarterly report disclosed substantial doubt. Source
The quarterly report disclosed subsequent preferred subscriptions with $300,000 received. Source
The latest opened 10-Q was filed on 2026-05-14 but covers the quarter ended 2025-03-31. The balances are not current pack-date figures. Source
The report shows $1,240 cash at 2025-03-31. Subsequent financing disclosures do not establish an updated cash balance. Source
Management describes funding operations month to month. No longer quantified runway was verified. Source
Both the latest opened annual and quarterly reports state substantial doubt. The annual audit also includes an explanatory going-concern paragraph. Source
No. The issuer describes a plan to uplist, while its IR page identifies OTC quotation. No exchange approval or completed transfer was verified. Source
The filed form checks a reporting-suspension rule. The research does not treat it as evidence of an exchange delisting or a completed Nasdaq transfer. Source
The issuer announced $1,875,000 face principal with 10% annual interest and an earlier-of maturity tied to 2026-06-17 or a national-exchange listing. No later repayment or amendment was verified. Source
No. The filing states $200,000 net initially received and $800,000 of further funding conditional on specified events. No receipt of all conditional funding was verified. Source
CBIZ CPAs P.C. was engaged following Marcum resignation on 2025-06-26 in the attest-business acquisition context. The former firm agreed with the issuer statements concerning its firm. Source
No. The announcement calls $1.5 million gross proceeds, while the later quarterly report labels the same amount net. No fee bridge explaining the distinction was verified. Source
The cover reports 67,945,856 common shares outstanding as of 2026-05-13. It is a dated issuer count, not a publication-date census. Source
No specific class action, derivative action or bankruptcy was verified. The quarterly legal disclosure is an issuer statement qualified by materiality, rather than a universal court certification. Source
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