On 05/14/2013, Bio-Matrix Scientific Group, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

On February 3, 2011, a complaint was filed in the U.S. District Court Middle District of the State of Pennsylvania against Entest Biomedical, Inc., David Koos (the company’s Chairman and CEO) and Bio-Matrix Scientific Group, Inc. by 18KT.TV LLC (Plaintiffs) seeking to recover general damages from the company in excess of $125,000. The complaint alleged breach of contract and unjust enrichment relating to an investor relations contract executed by the company and Craig Fischer (on behalf of 18KT.TV LLC). On March 1, 2013 a settlement agreement and mutual general release was entered into by and between the plaintiffs and the company. Pursuant to the agreement: The plaintiffs irrevocably release and forever unconditionally discharge the company of and from any and all actions, causes of action, suits, claims, debts, dues, accounts, bonds, covenants, charges, complaints, contracts, agreements, promises, judgments and demands whatsoever, in law or in equity. The company irrevocably releases and forever unconditionally discharges the plaintiffs  of and from any and all actions, causes of action, suits, claims, debts, dues, accounts, bonds, covenants, charges, complaints, contracts, agreements, promises, judgments and demands whatsoever, in law or in equity. The company shall cause to be issued to 18KT.TV LLC 41,000,000 of the company’s newly issued restricted common shares.

Entest Biomedical, Inc. subsidiary of Bio-Matrix Scientific Group, Inc. is seeking acquisitions. Entest Biomedical focuses on developing and commercializing therapies, medical devices, and medical testing procedures for the veterinary market, as well as on acquiring and operating veterinary clinics.