On January 15, 2021, International Stem Cell Corporation and Dr. Andrey Semechkin agreed to extend (until January 15, 2022) the maturity date of the loan (in the principal amount of $2,300,000) from Dr. Semechkin to the Company that had been reflected in a promissory note dated December 17, 2019 (the Original Note"), and which would have been due on January 15, 2021. In exchange for the Original Note, the Company issued to Dr. Semechkin an unsecured, non-convertible promissory note in the principal amount of $2,300,000 (the Note") with the extended maturity date. Dr. Semechkin is the Company's Co-Chairman and Chief Executive Officer. The outstanding principal amount under the Note accrues interest at a rate of 4.5% per annum. The Note is due and payable January 15, 2022 but may be pre-paid by the Company without penalty at any time.