On August 30, 2016 Northstar Biotech Group, LLC filed suit against the U.S. Stem Cell, Inc. seeking, among other items, a declaratory judgment as to whether its 20,000,000 Series A Preferred Shares were the subject of the company's reverse stock split effective November 4, 2015. On March 1, 2017, Northstar and the company entered into an amicable settlement agreement related to this dispute. NorthStar manager Greg Knutson, was appointed to the board of directors of the company and two company directors, Michael Tomas and Kristin Comella, will each exercise their prior NorthStar options to each receive a 5% Member Interest in NorthStar. On March 5, 2017, Greg Knutson was appointed to serve as a member of board of directors to serve until the next annual meeting, his earlier resignation or physical/mental incapacity or death.
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. 
