SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): April 2, 2008
ADVANCED CELL TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Delaware |
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000-50295 |
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87-0656515 |
(State or other
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(Commission File Number) |
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(IRS Employer Identification Number) |
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381 Plantation Street, Worcester, Massachusetts 01605 |
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(Address of principal executive offices, including zip code) |
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(508) 756-1212 |
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(Registrants telephone number, including area code) |
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(Former name or former address, if changed since last report) |
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CAR 240.13e-4(c))
ITEM 8.01 Other Events.
On April 2, 2008, Advanced Cell Technology, Inc. (the Company) entered into a Consulting Agreement with Ivan Wolkind, the Companys former Senior Vice President Finance, Administration & Chief Accounting Officer. Pursuant to the Consulting Agreement, Mr. Wolkind has agreed for a period of 90 days to provide up to 20 hours per week of financial consulting services to the Company including but not limited to (i) assisting with general accounting and investor diligence, (ii) commenting on the structure of proposed financial transactions, (iii) responding to queries regarding ACTs corporate structure, and (iv) reviewing strategic and financial documents as appropriate. As consideration for the services to be provided, the Company has agreed to pay Mr. Wolkind an aggregate of $68,751, $45,834 of which was paid on April 2, 2008, and the remainder of which will be paid on June 2, 2008. As additional consideration for the services to be provided, the Company issued to Mr. Wolkind 238,719 shares of common stock pursuant to the Companys 2005 Stock Incentive Plan, as amended.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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ADVANCED CELL TECHNOLOGY, INC. |
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By: |
/s/ William M. Caldwell, IV |
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William M. Caldwell, IV |
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Chief Executive Officer |
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Dated: April 8, 2008 |
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