Related Party Transactions |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Note 12 – Related Party Transactions
See Note 8, Notes Payable for details associated with the issuance of convertible notes payable, the Soave Note and the Verstraete Note, to directors of the Company.
As of December 31, 2024 and 2023, the Company was required to issue warrants to purchase an aggregate of 2,256,500 and 1,956,500, respectively, shares of common stock at an exercise price of $0.75 per share to directors of the Company in connection with loans made to the Company in the aggregate amount of $459,000 which required certain penalties in the form of warrants. As a result, the Company had accrued $129,112 and $215,050 associated with the fair value of the obligations as of December 31, 2024 and 2023, respectively, which amount is included in accrued interest – related parties on the consolidated balance sheets.
CELL SOURCE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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