Liquidation: NovelStem International Corp.

Form Type: 10-Q

Filing Date: 2025-05-19

Corporate Action: Liquidation

Type: Update

Accession Number: 000164117225011514

Filing Summary: NovelStem International Corp. filed its quarterly report for the period ended March 31, 2025, revealing significant financial challenges and loss. The company reported a net loss of $207,216 for the quarter. Its total assets decreased from $160,111 to $149,987, while total liabilities increased from $5,304,486 to $5,492,837. The company has accumulated a significant deficit of approximately $296,568,069. An investment in NewStem, a subsidiary focused on cancer diagnostics, has been fully impaired due to its inability to raise funds and is currently in liquidation status. NovelStem is in the process of potentially selling its media business, NetCo, to settle related debts. The overall financial health raises doubts about the company's ability to continue as a going concern, highlighting its need for additional financing.