17.	Subsequent Events

COVID-

March 10, 2020,

the World Health Organization declared the COVID-

outbreak a pandemic. The virus and actions taken to mitigate its spread have had and are expected to continue to have a broad adverse impact on the economies and financial markets of many countries, including the geographical areas in which the Company operates and conducts its business. In particular, the Seattle area, including the location of our corporate headquarters and our media production facility and warehouse, is at

one

of the epicenters of the coronavirus outbreak in the U.S. We are currently following the recommendations of local health authorities to minimize exposure risk for our team members and visitors. However, the scale and scope of this pandemic is unknown and the duration of the business disruption and related financial impact cannot be reasonably estimated at this time. While we have implemented specific business continuity plans to reduce the potential impact of COVID-

and believe that we have sufficient biopreservation media inventory to meet previously forecasted demand for the next

six

nine

months, there is

guarantee that our continuity plan, once in place, will be successful or that our inventory will meet forecasted or actual demand.

We have already experienced certain disruptions to our business such as temporary closure of our offices and similar disruptions

may

occur for our customers or suppliers that

may

materially affect our ability to obtain supplies or other components for our products, produce our products or deliver inventory in a timely manner. This would result in lost product revenue, additional costs, or penalties, or damage our reputation. Similarly, COVID-

could impact our customers and/or suppliers as a result of a health epidemic or other outbreak occurring in other locations which could reduce their demand for our products or their ability to deliver needed supplies for the production of our products. The extent to which COVID-

or any other health epidemic

may

impact our results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which

may

emerge concerning the severity of COVID-

and the actions to contain COVID-

or treat its impact, among others. Accordingly, COVID-

could have a material adverse effect on our business, results of operations, financial condition and prospects.

March 27, 2020,

President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security (CARES) Act.” The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property.

As of

March 30, 2020,

the company started deferring the employer side of social security payments. We will pay back

50%

of our total deferred payments in

2021

and the remaining

50%

2022.

We determined that we met the original eligibility requirements per the guidelines original established by the U.S. federal government as part of the CARES Act for the Pursuant to the Paycheck Protection Program (the “PPP”). As such, on

April 20, 2020,

the Company received

$2,175,320

in support from the PPP. Because the U.S. government subsequently changed its position and guidelines related to the PPP and publicly traded companies, the Company repaid the load on

April 29, 2020.

Casdin Financing

May 14, 2020,

the Company entered into a share purchase agreement with Casdin Capital LLC, a current stockholder of the Company (“Casdin”), pursuant to which Casdin agreed to invest

$20

million in the Company at a price per share of

$10.50.

The transaction is expected to close on or before

May 26, 2020,

subject to ordinary closing conditions. Pursuant to the terms of the share purchase agreement, at closing, the Company will issue to Casdin

1,904,762

shares of Company common stock. The Company has also granted Casdin certain registration rights requiring the Company to file a registration statement with the Securities and Exchange Commission covering the resale by the Casdin of the shares issued in the transaction.

Cashless warrant exercises

May 14, 2020,

the Company entered into separate warrant exercise agreements with WAVI Holding AG and

Taurus4757

GmbH pursuant to which the warrant holders immediately exercised their respective warrants via a “cashless” exercise as agreed to by the Company. As a result of the cashless exercise, the Company issued an aggregate of

2,747,970

shares of Company common stock upon cashless exercise of an aggregate of

3,871,405

warrants.