Recent financials no good at Intellicell

|About: Intellicell Bioscience... (SVFC)|By:, SA News Editor

Intellicell Biosciences (OTCPK:SVFC +5.9%) determines that its financial statements for the quarters ended September 30, 2013 and March 31, 2014 and fiscal year ended December 31, 2013 can no longer be relied upon to be GAAP compliant and will need to be restated.

It is in the process of re-auditing the statements as well as assessing the effectiveness of its internal controls over financial reporting.