Q. Is the company accountable to shareholders?
A. The primary responsibilities of the board of directors of your company, or any publicly owned company, are to protect the interests of both large and small shareholders and to report to them in a timely manner. MultiCell Technologies, Inc. (hereinafter MultiCell or MCET or the Company) has been in full compliance with all SEC reporting requirements for many years.
Q. Does MultiCell have an independent board?
A. MultiCell Technologies is fortunate to have an outstanding board of directors, all of whom are independent except for Mr. Newmin, who is an employee of the Company. All MultiCell’s directors are highly experienced professional scientists and/or business people.
Q. What happens to the money I invest?
A. When you invest in a publicly traded company, you are purchasing shares from another shareholder who is selling shares. The proceeds of this transaction go to the selling shareholder, less any commissions paid; the company receives none of these funds. MultiCell has operated for the past few years on funds provided directly to the Company by La Jolla Cove investors. Operating costs are detailed in SEC filings.
Q. When will the annual/quarterly report be filed?
A. The SEC guidelines require that quarterly reports on Form 10 Q be filed within 45 days following the end of the quarter. The year-end report on Form10K must be filed within 90 days after the close of the fiscal year. MultiCell Technologies’ fiscal year ends November 30, therefore the 10K must be filed by the end of February.
Q. When will there be news?
A. The SEC guidelines require that a “material event” be reported on Form 8-K within 4 days following the event. Management, along with the board of directors and legal counsel, determines whether an event is deemed “material” and therefore must be reported on Form 8-K. Historically MultiCell has issued press releases concurrently with the filing of a Form 8-K. SEC regulation FD prevents the company or its spokespeople from making forward-looking statements to individuals. When we have a material event or something we believe is worth reporting, it is released via a news wire to the full disclosure circuit and subsequently to those who have requested that such news be emailed to them.
Q. When will we get an update on what MultiCell has been doing and where the Company is heading?
A. In addition to quarterly reporting, the annual shareholder letter updates all shareholders, and the informal discussion at the shareholders’ meeting also allows for questions and answers.
Q. Will there be a reverse split?
A. Any action which affects the number of shares outstanding would require the filing of a proxy statement that explains the plan and solicits the approval of shareholders. In other words, if you didn’t receive a proxy with such an item and you did not vote on it, it’s not going to happen.
Q. Is MCET a shareholder friendly company?
A. We have always appreciated and responded to our shareholders. In addition to maintaining an opt-in email list for direct communication from the company if and when announcements may occur, MultiCell is on Facebook.
Q. Is the company seeking funding or partnerships?
A. The company is always interested in and open to opportunities that would allow us to create value for our shareholders.