---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-006672"
form_type: "8-K"
ticker: "CLCS"
cik: "0001569340"
company_name: "Cell Source, Inc."
filed_at: "2022-03-11T23:59:59+00:00"
generated_at: "2026-06-26T23:35:52.796568+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cell Source issues $2.5M convertible note to new board member George Verstraete at 10% interest

## Summary
- Appointed George Verstraete to the board; he agreed to loan $2.5M via a convertible promissory note.
- Note bears 10% interest per annum, matures in 12 months from March 10, 2022.
- Convertible into Series B Preferred Stock at $7.50/share; interest may be paid in cash or common stock at $0.75/share.
- For each $500K advanced, Verstraete receives a warrant for 400K common shares at $1.25/share with a 5-year term.

## SEC filing metadata
- accession: 0001493152-22-006672
- form_type: 8-K
- ticker: CLCS
- cik: 0001569340
- company_name: Cell Source, Inc.
- filed_at: 2022-03-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1569340/000149315222006672/0001493152-22-006672-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1569340/000149315222006672/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-006672
- JSON: https://secwatch.observer/filing/0001493152-22-006672.json
- Plain text: https://secwatch.observer/filing/0001493152-22-006672.txt

## Key facts
- Executive change
  George Verstraete was appointed as member of the Board at Cell Source, Inc..
  - Action: appointed
  - Role: member of the Board
  source text: On March 10, 2022, the Board of Directors of the Company appointed George Verstraete as a member of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1569340/000149315222006672/0001493152-22-006672-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.