On this page of StockholderLetter.com we present the latest annual shareholder letter from CRYO CELL INTERNATIONAL INC — ticker symbol CCEL. Reading current and past CCEL letters to shareholders can bring important insights into the investment thesis.
0121234567873 99 7 8    14 1
       3    7997 

# $%%0$&  '  (0%   2  () % *    +,  (- 2  0 )()2 . -$%/ $ (  
 * 1
  68 3079412363 3 % 33 436*     *
5 ( $%2)() %  '  (0%   2  () % *    +,  (- 2  0 )()2 . -$%/ $ (
    * 1
  68 386 9787  6367  06  
8 
    7997   713%5 436  !  787
  9 ! + &&)
%(  %$() %$& )% 1
48%  3 063 7986 8 996347073 7 7894 6836,


+2883 6 8 36:56797487   0
+)1 121  61 236
74 66 687   6 6  7;87 ,
)38707487  % 1,
7  <6  =36 633=<13 25783 >    19  6  &* 877
+$ 6399 066747613 3458733 007439,+?76  3,
(7813 034 4199
 3 7986 8@983136  3 5 436A+>*,7  !   
234567873963 798363 65695 88 23487   +4, 08 3$48A
2(6
2 4 71+ 9,
%  3 0346 3
3 7 9843 63 3  B 74 
      28 4= C 1  663153
%92 $ 3674 && 
DEFGHIJKLMHNKHOPIQOGRJNKQKSGTJQIEJGTIUKVVWOEXUETKITXEKFGTTYKQZITFKRGEKFGE[YVK\]^XRJNK_KHYQGJGKT
`HJa bKT5 cXd
DEFGHIJKLMHNKHOPIQOGRJNKQKSGTJQIEJGTEXJQKeYGQKFJXRGVKQKfXQJTfYQTYIEJJX_KHJGXEghXQg^iFjXRJNK
`HJa bKT5 cXd
DEFGHIJKLMHNKHOPIQOUNKJNKQJNK[KSGTJQIEJigjNITRGVKFIVVQKfXQJTQKeYGQKFJXLKRGVKFLM_KHJGXEghXQg^iFjXRJNK
_KHYQGJGKTklHNIESK`HJXRgmh\FYQGESJNKfQKHKFGESgnPXEJNTiXQRXQTYHNTNXQJKQfKQGXFJNIJJNK[KSGTJQIEJUITQKeYGQKF
JXRGVKTYHNQKfXQJTjZIEFinjNITLKKETYLoKHJJXTYHNRGVGESQKeYGQKPKEJTRXQJNKfITJm]FIMTa bKTd cX5
DEFGHIJKLMHNKHOPIQOUNKJNKQJNKQKSGTJQIEJNITTYLPGJJKFKVKHJQXEGHIVVMKpKQMDEJKQIHJGpKqIJIrGVKQKeYGQKFJXLK
TYLPGJJKFfYQTYIEJJX[YVK\]^XR[KSYVIJGXE_WsFYQGESJNKfQKHKFGESgnPXEJNTiXQRXQTYHNTNXQJKQfKQGXFJNIJJNK
QKSGTJQIEJUITQKeYGQKFJXTYLPGJIEFfXTJTYHNRGVKTja bKT# cX5
DEFGHIJKLMHNKHOPIQOUNKJNKQJNKQKSGTJQIEJGTIVIQSKIHHKVKQIJKFRGVKQZIEIHHKVKQIJKFRGVKQZIEXEWIHHKVKQIJKFRGVKQZI
TPIVVKQQKfXQJGESHXPfIEMZXQIEKPKQSGESSQXUJNHXPfIEMa_KKFKRGEGJGXEXRtVIQSKIHHKVKQIJKFRGVKQuZtIHHKVKQIJKFRGVKQuZ
tTPIVVKQQKfXQJGESHXPfIEMuIEFtKPKQSGESSQXUJNHXPfIEMuGE[YVKgnLWnXRJNKklHNIESK`HJaivNKHOXEKjw
xIQSKIHHKVKQIJKFRGVKQ 5
`HHKVKQIJKFRGVKQ
5
cXEWIHHKVKQIJKFRGVKQ #
_PIVVKQQKfXQJGESHXPfIEMd
iqXEXJHNKHOGRITPIVVKQQKfXQJGESHXPfIEMj
kPKQSGESSQXUJNHXPfIEM5
DRIEKPKQSGESSQXUJNHXPfIEMZGEFGHIJKLMHNKHOPIQOGRJNKQKSGTJQIEJNITKVKHJKFEXJJXYTKJNKKlJKEFKFJQIETGJGXE
fKQGXFRXQHXPfVMGESUGJNIEMEKUXQQKpGTKFRGEIEHGIVIHHXYEJGESTJIEFIQFTfQXpGFKFfYQTYIEJJX_KHJGXEghiIjXRJNK
klHNIESK`HJa5
DEFGHIJKLMHNKHOPIQOUNKJNKQJNKQKSGTJQIEJNITRGVKFIQKfXQJXEIEFIJJKTJIJGXEJXGJTPIEISKPKEJyTITTKTTPKEJXRJNK
KRRKHJGpKEKTTXRGJTGEJKQEIVHXEJQXVXpKQRGEIEHGIVQKfXQJGESYEFKQ_KHJGXE\]\iLjXRJNK_IQLIEKTWzlVKM`HJig^{a_ava
|n}niLjjLMJNKQKSGTJKQKFfYLVGHIHHXYEJGESRGQPJNIJfQKfIQKFXQGTTYKFGJTIYFGJQKfXQJa5
DRTKHYQGJGKTIQKQKSGTJKQKFfYQTYIEJJX_KHJGXEgniLjXRJNK`HJZGEFGHIJKLMHNKHOPIQOUNKJNKQJNKRGEIEHGIVTJIJKPKEJT
XRJNKQKSGTJQIEJGEHVYFKFGEJNKRGVGESQKRVKHJJNKHXQQKHJGXEXRIEKQQXQJXfQKpGXYTVMGTTYKFRGEIEHGIVTJIJKPKEJTa5
DEFGHIJKLMHNKHOPIQOUNKJNKQIEMXRJNKKQQXQHXQQKHJGXETIQKQKTJIJKPKEJTJNIJQKeYGQKFIQKHXpKQMIEIVMTGTXR
GEHKEJGpKWLITKFHXPfKETIJGXEQKHKGpKFLMIEMQKSGTJQIEJyTKlKHYJGpKXRRGHKQTFYQGESJNKQKVKpIEJQKHXpKQMfKQGXFfYQTYIEJJX
n\]ag]qWgiLja5
DEFGHIJKLMHNKHOPIQOUNKJNKQJNKQKSGTJQIEJGTITNKVVHXPfIEMiITFKRGEKFGE[YVKgnLWnXRJNK_KHYQGJGKTklHNIESK
`HJXRgmh\ja bKT5 cXd
sNKISSQKSIJKPIQOKJpIVYKXRJNK[KSGTJQIEJyTvXPPXE_JXHONKVFLMEXEWIRRGVGIJKTXRJNK[KSGTJQIEJGTHXPfYJKFLM
QKRKQKEHKJXJNKfQGHKIJUNGHNJNKHXPPXETJXHOUITVITJTXVFITXRJNKVITJLYTGEKTTFIMXRJNK[KSGTJQIEJyTPXTJQKHKEJVM
HXPfVKJKFTKHXEFRGTHIVeYIQJKQi~IMhgZn]nhjUIT n|Z]g]Z\n}a
`TXRrKLQYIQMn  Zn]n\ZJNKQKUKQK  Zn  }Z|  ^TNIQKTXRvXPPXE_JXHOXYJTJIEFGESa
   0  %(2)%   '  $(  <9      % 
cXEKa
`YFGJXQrGQPDFwh\\
`YFGJXQcIPKw  GfRVGxx  
`YFGJXQxXHIJGXEw`JVIEJIZ  KXQSGI
012345675804809




1 0 
1 0  
    ,"           -           . %      /$  +0          % -     
    1"      '  
    2"           .    %$            +          %   %           
    2 "/$        '    /$       '    %   $    # $           
    3"      %                 $**        +    
    4" %-                          - %% $         %% $     
    4 "%          *  %  $   
    4#"  -             
1 0   
    !("    %    0 5 %$  '     %      %  *       '     % 
    !!" 5 %$  ' %  *        

    !"%               - *                 %     0       %   

1 0 6
    !," 5- #           %             %-  $   
    !1"    !(   $    +





3
3&
3,
31
33
4&
4,
41
42
0123425671189 4     
,   !"(-  && $      % !* "%  !($ "%! " %!%   "% )  $ $ " % %.% /&  )! #   0 "* %!%   "% 12   
%    /, (  ,  3"%  "!%  "! 3"$2 1/, (  ,  1/,   !"( 1/)  1/ . 1!"#/. 1  &  % , (  , 
3"%  "!%  "! 3"$2   )  # / 4  $% 1/+   '  1/* ! 1/ !" 1/ "% "# 1/  %  !% 1!"#    !  4       " 
!"#'!  !%  " %     &  &.  # !   "% "# #%    $ & $!( # "% &(&  )! #   0 "* %!%   "% 25   ! ( 
 %!%   "% % !%#  $  + &.%.  & "!"$ !   &   !"$    !"    % !% *   !  &  )! #   0 "* %!%   "% 2     
%   "% "% +   &  $.   "% 4  $%!%  "  &%  ,   !"(  % #   $%      %  && $   ) %      $%%  !  "* %   
%  "*   . &.%.     &   !"$ !"#    !% "*   .%   . &.%.      !% "* !"   .  6. # %(!"#$!  %!
    . $  7!"# .  *!   $  # "* 23"'  %   !"#      $% '  "'  %   !  $!.%  " #% !%!"( .$ 
&  )! #   0 "* %!%   "% !  " %*.! !"%    &&.%.     &   !"$ !"# "' '    0 !"#."$  %! "%    !"#% !%
!$%.!   .%  !(# &&   !%   !(&   %       8 $% # "%  &  )! #   0 "* %!%   "% ! !   .% &'!   . 
&!$%   2     ."$  %! "%   !"# %   &!$%    "$.# %   .$$      #.$%# '    & $!%  " %  ,   !"(- !$%.!
&.%.   )"       %!0  "&.%.  %   !        * "*&    % $ !+  !% '     ! $  ! %"        %   .$$   
  !% #%  % 39   %&    %  ,   !"(- &.%.  $    % % '     %  " " %  $   "" '!%  " &.%.   .$$    & % 
$   +.  "   !"#%  $    % % '    !$% & .+ $$  #+  #+!"0 "* "%  ,   !"(- +.  "    %   .$$   
 &%  ,   !"(-  " % !% ' %  4 !"# % $   +.  "   ." % %  "$.# +    !  !$ .% $! !".&!$%.  "*!"#


   ' # %  ,   !"() %   (!%(&   2
>?@ABCDE >F@ C
> 215GH91
, (  ,  3"%  "!%  "! 3"$2I%  /,   !"(1  /, (  , 1J  != !)!  $     !%  "% !%)! 
 "$     !% # " KLK2   ,   !"(    *!" : # "%         %!+   *  "% 7 2J$ .!    $    "*!"#
!"#%   .  %  $   M2J%   !".&!$%.   &9   !,(% N ,O9  $    "*5( %  I/9   !,(% ,O1J." %  %  
   $    "*% $ "  *(.  #%    $   . +  $!$  #+  # %  $   !"#P2J$ .!    $    "*!"#$ ( * " $
 %  !*  &. +  $!$  #+  # %  $  &   .+ $.  2   ,   !"(  "$  + "!%  ") %  % * +!!&&  !%   
$.   "%( %     '  MPQ    $  #+  #!"#$  #%   .    $   " )  #) # &  %   4$.  ' + " & % &
" )+  "+!+   !"#     +( %      +    &%    &!     2  ."# # " KLK %  ,   !"()! %  )  #- 
&   %   '!% $  #+  #+!"0%    ! !% !"# %    %  $   " KKM2   ,   !"(- R252 +!  #+.  "   
    !%  "   "$.# "*%     $    "*!"# %  !*  &   $   "  !   !"# #&    %   !#6.! %   &!$  %( "
S#  !      #!2      $   " !   %   # "$     $ !(!'! !+ $ ( * " $ %  !* ." % !%%   
% $ "  * $!(!"#    !%  "!(!#'!"$ #&!$  %(2
3"  $ "%( !   .%  : "* %  "& ! % .$%.    4     "$ !"#    . $  #   ' #&    % . +  $!$  #
+  # %  $  +.  "    %  ,   !"( !  4 !"# # %     ! $ !"## '     "%!$% ' %   % # '   
% $ "  *     !% #%  %  $   ! '  % #&     . $  + ( "#. +  $!$  #+  # %  $  2=.  "*&  $!
M    %  ,   !"( "%  #.$ #%  !#'!"$ #" )$  #%   .    ' $  )  $  %    !  $%  " &%  . +  $!$  #
%   . 2   ,   !"( &&   %  $  #%   .    ' $  "$  + "!%  ") % %  . +  $!$  #+  #   ' $ 2
T125DU115   T UUV21H   9 45 124 DG 9   
WXYZ[\]^_`]aW^bc_dbb
e ! (& &%(( !  !*     ! $    #  $ '   #% !%$  $ .#+ $ (       ' #!% 4%    ( )
%     !%.   !"#! $ .! !$% ' %() .#$ !  ."% %     $   " )   % !) #2f  %   $!( 
P
01234156517893 8615 15  3131 8 91864 896   33  8   8  5 08 1565810   3 82 
01234156517893 3     08 031   33 695 05  6 756  7  8 69 5344319  9293439598  298 5
8 7898 53 573 7  05    819 5184568 39 51 5 08 950 3 3 56 
 5 89343590695 05  68159 5        30 63 3 1  33 8    562695 6   52 31 9 5
 95  33 05  69 89   9  5093 15   33 05  69 89081123 2 5 9 13   3 99 5 3 28 4 895 5969 89
413 395 58     56505  6815 3    35 8113  5159 52039 593 55189505  69 13   3 93 1
 756  95 05  608  569315  80123 5 05713 59 8  43 9 8      65  93848959   5208  5
159 15 939 5  7  8  13   3 9 52 51598 5  8 93 3 3 6 31 3895 9363 5355 65 8  3 550   
 7  8 63  35 8113  82 5 65  31891864 89 9 508051 86 3959515 9 5 8113 62695 
  5986986!5   "9 51 65 8 8113  331 55 693 5 59 5 934137 59 5 55 5  35 8113    5
878 8  923 8 8113  33131 890 5 695 05  6450 5 8  3 64 26086938   6951 81 51 36563 
0 5 39 518423118 893 8 5  31993518 08959 5 65865  95 05  9 5184568 91864 896815 65  31
 39 080513 68  3#080513 6 658656 
 95 05  6815 3       08 031   33  $031   33 695 05  6% 8 08  503  5095 8 69315 
8 9518 8 26 31 "751&' '''031   33 695 05  91864 896 875 55 451 31 5 93 895   5(3 482
 5 57569 89 82481596    899368758 693159 56505  6 31439598   9 15 65 29 51 8  2 59 51
 319 5 33131 31839 51 8  2 5  51  3 82 695 05  91864 896815 3 8 8005495 91589 596 31
89 5869)* 658656  5 5 575 8    513 9 5   5#9 15895   + 9 039 5 1565810  9 681583 
 5 08 950 3 3 2 39 519 51845 90 656 31031   33 695 05  6815 5  5 4 315  ,3153751 1565810 516
 5 5759 52 82 5 9 !5  9 5  9 15 3191589  6586569 890 1159 2 875 30 15 
-969 5(3 4826 663 93  31 5 4509894815968 9 51415898 08154137 5163 9 5
439598  5 08  55 96 13 4156517  695 05  68 934137 59 5 9 5 5868 413056656 3103  5093
8 69318 53 9 56505  6  7869 8.31923 5 4509894815968156 4 2 8 8159 89    08 031   33 
0398 6810 6 44 23  3#0391375168 695 05  68 9 899 5208  503  5095  41305665 8 69315  319 5
439598   9 15 653 9 5 5  31 8 4366  215 895  8  2 5  516   8 26695 05  68158451 509 890 
 319 5 8 29 13   3 996  58  8758/# #00 8053  5  8451 509 890 8 81# #00 8053  5  8
8005498  5 890  3186      5156 3866 1805  3 5751 9 898451 509 890  5869 505  603    5
 65 939158905198  6586563 9 5 5  31 31815 8975  3 82 9669  03  3  319 5031   33  9 5  33 
15 8   9 5    08 031 8 4 80598 93 5 6081 5 899 59 53  19 86 5 08  8695 
2564959 5439598  55 963     08 031   33 695 05  4156517893 9 5    513 4815963 
5  31648190489  695 05  4156517893 669  15 8975 26 8  03 4815 939 5    513  19 6  3 1
   3 4518     9 53 95  98956  3 5158636 319 6 3  575 3  81 5945591893 8159 5
 645105493 3 9 5   03693 695 05  69318 58 8 5518  80 3 8 8155663 9 5 55 963 695 05  
4156517893 413 18 6  3 5751 573 7   5 08 950 3 3 203   6   089 2 0158659 5 9 !893 3 9 5
    08 031   33  3191864 89893 8 43139 51924563 91589 596   5(3 482 5 575693  5169 5
   569 8 92    56978  5651705981 595 938 138  8653 9 5 81 59 +5 95 93 8  !53 1 13 9 
439598 9 13   3 16 45131  8 92 78  5# 175 03 459975 58 516 443693 413  09   5159893 8
5  5  5 0 59 865  015865 4   08 8155668 8005 51895  81 5945591893 
  5(3 482 5 57569 899 5 81 59 31031   33 695 05  4156517893 65 805  2  3 8 
 60 663 3 695 05  1565810  575 34 5968 9 50 1159 30 63 15  0  413  975 58 9 081503696 
+ 9 9 5 01586  036963  35 8113  890 568 91864 896 8 5  31 6    08 031   33 05  608  5
69315 86841508 93812 586 15 ,5 08 950 3 3 26036989 2573 7    0  824137 5 5  656 31
012341565175 031   33 695 05  6 
567897:;<99:=>?@8?<<=>97AB?=?7CDE?F
  5(3 48259516 9369318 58 155 596 9 960 596  51  0 9 5(3 4820 81 568 55
 319 54130566  8 9569 8  16925813 69318 53 9 5    08 031   33    5158 951 9 50 596
0
01234562727782955 3515  50  57 8795 1509 57575356 7 27    523 35  2 6 3245 927 32
9 5  5 35  2 6 3245 927 
 15    27  03 3251526 8235323590256 7275239         8235  25   15 23
083357  6 2782083 74 320 05276  6  85 320 05 0   0   ! 0  9 27 20 9   " 6276
#384$6  7 32 7 %"#$&!'  "( 23 ')  5 50 *5 7 2 '  + 35 8 35 18 2705998923276 85 
,256 3680 ,5 278208356 70  9 2705- 14 6 85 320 05  0   ! .7266  7 1505998923
 3680 03 457 0 3245235212 ,55765 47562 2%,87/53 &- 157127056 3*  7 35083   ,8 96 74
3  02 7 357* 37 5729595 57 3 50 7276,20/ 8    5  3  532 729356876270 5  15
    27 ,59 5*5 12 -2 15 3  3 *25,27/  305 036,9 6 72501794 0299 276  532 7299 
26*270560   0    0  9 27 20 9    15    27   20 9   -1 0129 0833579 185 15    27  
09 57 53* 05  23/5 7427626  7 32 *5  532 7  65 4756 200   6252,32632745 5*57
8012 09 57 83276  57185 2 -5992 56802 729- 3/1  309 7 0 27 27650 5027 2357  
#85 159   56 324502 20     50  74 20 9   7196 23 "2 15    27  83012562
+3      8235 20 9  90256752315(552301 3 27495 23/ 715(54 729    5305 5753 7#8312  
4 31 239 72 %45-"20 9  &!  15    27 ,59 5*5  - 9912*5  205 37 79   50  74276 8835
 753729 32457556 ,829 - 9912*51502 20   531 36 23  123 2058 0290  27 5 276 56 029
 7  8 7 3245 53* 05  58 2059989231532  92,32 3   27820835 55701  29 3 290599
 % 5 &!27615 3   599.7  85 3 5998923 1532  5 8765315 2 53  
6789:;<;<=:>?=@A;@B:C
 15    27 ,59 5*5 12  3* 65 5*5329/5 26*27245 *53  0  5 3  70986 74D
E  15- 396   3  3 *25036,9 6,27/ 12 70 , 72 7- 1  49,292  9 25 0833579 
35 *53'F+    036,9 6276036 85  50  57 - 396- 65 
E 8320 9    28 2 20    2760    0  9 27 3 *25036,9 6,27/- 1$$GG
200356 2 7276"$   15"8762 7 315$00356 2 7 3 5998923 1532  !200356 2 7 
E 2 25   15 2392,32 3  305  74 20 9   
E 8 9 H2 7 2 305  74 5168 74 8 53 3501794 12  596 15 20  8 350*53 
15291  5 0599276 3* 65 8 53 3356,9 665 95 7 *53299 153 516 
E 2 *5 0  23 57036,9 6 355H53,2412299- 3 89  9585 15,2,  036,9 6
5 0599 
E 2 25 50835276  7 356 324557* 37 57 
E  705 705  7    I* 2, 9  325 15    27    50  57 8 712- 31532 58 085 
E 2 25  15 23  78925609950 7/  
E )62  53-55/ 305  7402 2, 9   276
E 2 2  57-23327 87653-1 0115    27 24355  2 J+      5 50 *5"5,3823   '  '
1  2  57-2  7035256 J)+     375-09 57  5 50 *5K875  '  )1  2  57-2
 7035256 J        375-09 57 1201 515 35  8 036,9 6 305  74 516 
 35 2  5 G!   09 57  158 , 9 029036,9 6 3680353 5*56 856 32 5 0599
327 927 315673 327   56 252  9  5 ,53276 2 9 57432 8,L50 *23 8
35 3 0 7 
MNOPQRSSTU
.7$848 '    15    27  7368056  26*2705675-036 85 53* 05 -1 01 35 2 50 7
158 , 9 029036 85 $  30  259   0 7015 15036 85  308356276327 356 15
 • shareholder letter icon 10/7/2024 Letter Continued (Full PDF)
 • stockholder letter icon 9/15/2023 CCEL Stockholder Letter
 • stockholder letter icon More "Diagnostics" Category Stockholder Letters
 • Benford's Law Stocks icon CCEL Benford's Law Stock Score = 83


CCEL Shareholder/Stockholder Letter Transcript:

0121234567873 99 7 8    14 1
       3    7997 

# $%%0$&  '  (0%   2  () % *    +,  (- 2  0 )()2 . -$%/ $ (  
 * 1
  68 3079412363 3 % 33 436*     *
5 ( $%2)() %  '  (0%   2  () % *    +,  (- 2  0 )()2 . -$%/ $ (
    * 1
  68 386 9787  6367  06  
8 
    7997   713%5 436  !  787
  9 ! + &&)
%(  %$() %$& )% 1
48%  3 063 7986 8 996347073 7 7894 6836,


+2883 6 8 36:56797487   0
+)1 121  61 236
74 66 687   6 6  7;87 ,
)38707487  % 1,
7  <6  =36 633=<13 25783 >    19  6  &* 877
+$ 6399 066747613 3458733 007439,+?76  3,
(7813 034 4199
 3 7986 8@983136  3 5 436A+>*,7  !   
234567873963 798363 65695 88 23487   +4, 08 3$48A
2(6
2 4 71+ 9,
%  3 0346 3
3 7 9843 63 3  B 74 
      28 4= C 1  663153
%92 $ 3674 && 
DEFGHIJKLMHNKHOPIQOGRJNKQKSGTJQIEJGTIUKVVWOEXUETKITXEKFGTTYKQZITFKRGEKFGE[YVK\]^XRJNK_KHYQGJGKT
`HJa bKT5 cXd
DEFGHIJKLMHNKHOPIQOGRJNKQKSGTJQIEJGTEXJQKeYGQKFJXRGVKQKfXQJTfYQTYIEJJX_KHJGXEghXQg^iFjXRJNK
`HJa bKT5 cXd
DEFGHIJKLMHNKHOPIQOUNKJNKQJNK[KSGTJQIEJigjNITRGVKFIVVQKfXQJTQKeYGQKFJXLKRGVKFLM_KHJGXEghXQg^iFjXRJNK
_KHYQGJGKTklHNIESK`HJXRgmh\FYQGESJNKfQKHKFGESgnPXEJNTiXQRXQTYHNTNXQJKQfKQGXFJNIJJNK[KSGTJQIEJUITQKeYGQKF
JXRGVKTYHNQKfXQJTjZIEFinjNITLKKETYLoKHJJXTYHNRGVGESQKeYGQKPKEJTRXQJNKfITJm]FIMTa bKTd cX5
DEFGHIJKLMHNKHOPIQOUNKJNKQJNKQKSGTJQIEJNITTYLPGJJKFKVKHJQXEGHIVVMKpKQMDEJKQIHJGpKqIJIrGVKQKeYGQKFJXLK
TYLPGJJKFfYQTYIEJJX[YVK\]^XR[KSYVIJGXE_WsFYQGESJNKfQKHKFGESgnPXEJNTiXQRXQTYHNTNXQJKQfKQGXFJNIJJNK
QKSGTJQIEJUITQKeYGQKFJXTYLPGJIEFfXTJTYHNRGVKTja bKT# cX5
DEFGHIJKLMHNKHOPIQOUNKJNKQJNKQKSGTJQIEJGTIVIQSKIHHKVKQIJKFRGVKQZIEIHHKVKQIJKFRGVKQZIEXEWIHHKVKQIJKFRGVKQZI
TPIVVKQQKfXQJGESHXPfIEMZXQIEKPKQSGESSQXUJNHXPfIEMa_KKFKRGEGJGXEXRtVIQSKIHHKVKQIJKFRGVKQuZtIHHKVKQIJKFRGVKQuZ
tTPIVVKQQKfXQJGESHXPfIEMuIEFtKPKQSGESSQXUJNHXPfIEMuGE[YVKgnLWnXRJNKklHNIESK`HJaivNKHOXEKjw
xIQSKIHHKVKQIJKFRGVKQ 5
`HHKVKQIJKFRGVKQ
5
cXEWIHHKVKQIJKFRGVKQ #
_PIVVKQQKfXQJGESHXPfIEMd
iqXEXJHNKHOGRITPIVVKQQKfXQJGESHXPfIEMj
kPKQSGESSQXUJNHXPfIEM5
DRIEKPKQSGESSQXUJNHXPfIEMZGEFGHIJKLMHNKHOPIQOGRJNKQKSGTJQIEJNITKVKHJKFEXJJXYTKJNKKlJKEFKFJQIETGJGXE
fKQGXFRXQHXPfVMGESUGJNIEMEKUXQQKpGTKFRGEIEHGIVIHHXYEJGESTJIEFIQFTfQXpGFKFfYQTYIEJJX_KHJGXEghiIjXRJNK
klHNIESK`HJa5
DEFGHIJKLMHNKHOPIQOUNKJNKQJNKQKSGTJQIEJNITRGVKFIQKfXQJXEIEFIJJKTJIJGXEJXGJTPIEISKPKEJyTITTKTTPKEJXRJNK
KRRKHJGpKEKTTXRGJTGEJKQEIVHXEJQXVXpKQRGEIEHGIVQKfXQJGESYEFKQ_KHJGXE\]\iLjXRJNK_IQLIEKTWzlVKM`HJig^{a_ava
|n}niLjjLMJNKQKSGTJKQKFfYLVGHIHHXYEJGESRGQPJNIJfQKfIQKFXQGTTYKFGJTIYFGJQKfXQJa5
DRTKHYQGJGKTIQKQKSGTJKQKFfYQTYIEJJX_KHJGXEgniLjXRJNK`HJZGEFGHIJKLMHNKHOPIQOUNKJNKQJNKRGEIEHGIVTJIJKPKEJT
XRJNKQKSGTJQIEJGEHVYFKFGEJNKRGVGESQKRVKHJJNKHXQQKHJGXEXRIEKQQXQJXfQKpGXYTVMGTTYKFRGEIEHGIVTJIJKPKEJTa5
DEFGHIJKLMHNKHOPIQOUNKJNKQIEMXRJNKKQQXQHXQQKHJGXETIQKQKTJIJKPKEJTJNIJQKeYGQKFIQKHXpKQMIEIVMTGTXR
GEHKEJGpKWLITKFHXPfKETIJGXEQKHKGpKFLMIEMQKSGTJQIEJyTKlKHYJGpKXRRGHKQTFYQGESJNKQKVKpIEJQKHXpKQMfKQGXFfYQTYIEJJX
n\]ag]qWgiLja5
DEFGHIJKLMHNKHOPIQOUNKJNKQJNKQKSGTJQIEJGTITNKVVHXPfIEMiITFKRGEKFGE[YVKgnLWnXRJNK_KHYQGJGKTklHNIESK
`HJXRgmh\ja bKT5 cXd
sNKISSQKSIJKPIQOKJpIVYKXRJNK[KSGTJQIEJyTvXPPXE_JXHONKVFLMEXEWIRRGVGIJKTXRJNK[KSGTJQIEJGTHXPfYJKFLM
QKRKQKEHKJXJNKfQGHKIJUNGHNJNKHXPPXETJXHOUITVITJTXVFITXRJNKVITJLYTGEKTTFIMXRJNK[KSGTJQIEJyTPXTJQKHKEJVM
HXPfVKJKFTKHXEFRGTHIVeYIQJKQi~IMhgZn]nhjUIT n|Z]g]Z\n}a
`TXRrKLQYIQMn  Zn]n\ZJNKQKUKQK  Zn  }Z|  ^TNIQKTXRvXPPXE_JXHOXYJTJIEFGESa
   0  %(2)%   '  $(  <9      % 
cXEKa
`YFGJXQrGQPDFwh\\
`YFGJXQcIPKw  GfRVGxx  
`YFGJXQxXHIJGXEw`JVIEJIZ  KXQSGI

012345675804809




1 0 
1 0  
    ,"           -           . %      /$  +0          % -     
    1"      '  
    2"           .    %$            +          %   %           
    2 "/$        '    /$       '    %   $    # $           
    3"      %                 $**        +    
    4" %-                          - %% $         %% $     
    4 "%          *  %  $   
    4#"  -             
1 0   
    !("    %    0 5 %$  '     %      %  *       '     % 
    !!" 5 %$  ' %  *        

    !"%               - *                 %     0       %   

1 0 6
    !," 5- #           %             %-  $   
    !1"    !(   $    +





3
3&
3,
31
33
4&
4,
41
42


0123425671189 4     
,   !"(-  && $      % !* "%  !($ "%! " %!%   "% )  $ $ " % %.% /&  )! #   0 "* %!%   "% 12   
%    /, (  ,  3"%  "!%  "! 3"$2 1/, (  ,  1/,   !"( 1/)  1/ . 1!"#/. 1  &  % , (  , 
3"%  "!%  "! 3"$2   )  # / 4  $% 1/+   '  1/* ! 1/ !" 1/ "% "# 1/  %  !% 1!"#    !  4       " 
!"#'!  !%  " %     &  &.  # !   "% "# #%    $ & $!( # "% &(&  )! #   0 "* %!%   "% 25   ! ( 
 %!%   "% % !%#  $  + &.%.  & "!"$ !   &   !"$    !"    % !% *   !  &  )! #   0 "* %!%   "% 2     
%   "% "% +   &  $.   "% 4  $%!%  "  &%  ,   !"(  % #   $%      %  && $   ) %      $%%  !  "* %   
%  "*   . &.%.     &   !"$ !"#    !% "*   .%   . &.%.      !% "* !"   .  6. # %(!"#$!  %!
    . $  7!"# .  *!   $  # "* 23"'  %   !"#      $% '  "'  %   !  $!.%  " #% !%!"( .$ 
&  )! #   0 "* %!%   "% !  " %*.! !"%    &&.%.     &   !"$ !"# "' '    0 !"#."$  %! "%    !"#% !%
!$%.!   .%  !(# &&   !%   !(&   %       8 $% # "%  &  )! #   0 "* %!%   "% ! !   .% &'!   . 
&!$%   2     ."$  %! "%   !"# %   &!$%    "$.# %   .$$      #.$%# '    & $!%  " %  ,   !"(- !$%.!
&.%.   )"       %!0  "&.%.  %   !        * "*&    % $ !+  !% '     ! $  ! %"        %   .$$   
  !% #%  % 39   %&    %  ,   !"(- &.%.  $    % % '     %  " " %  $   "" '!%  " &.%.   .$$    & % 
$   +.  "   !"#%  $    % % '    !$% & .+ $$  #+  #+!"0 "* "%  ,   !"(- +.  "    %   .$$   
 &%  ,   !"(-  " % !% ' %  4 !"# % $   +.  "   ." % %  "$.# +    !  !$ .% $! !".&!$%.  "*!"#


   ' # %  ,   !"() %   (!%(&   2
>?@ABCDE >F@ C
> 215GH91
, (  ,  3"%  "!%  "! 3"$2I%  /,   !"(1  /, (  , 1J  != !)!  $     !%  "% !%)! 
 "$     !% # " KLK2   ,   !"(    *!" : # "%         %!+   *  "% 7 2J$ .!    $    "*!"#
!"#%   .  %  $   M2J%   !".&!$%.   &9   !,(% N ,O9  $    "*5( %  I/9   !,(% ,O1J." %  %  
   $    "*% $ "  *(.  #%    $   . +  $!$  #+  # %  $   !"#P2J$ .!    $    "*!"#$ ( * " $
 %  !*  &. +  $!$  #+  # %  $  &   .+ $.  2   ,   !"(  "$  + "!%  ") %  % * +!!&&  !%   
$.   "%( %     '  MPQ    $  #+  #!"#$  #%   .    $   " )  #) # &  %   4$.  ' + " & % &
" )+  "+!+   !"#     +( %      +    &%    &!     2  ."# # " KLK %  ,   !"()! %  )  #- 
&   %   '!% $  #+  #+!"0%    ! !% !"# %    %  $   " KKM2   ,   !"(- R252 +!  #+.  "   
    !%  "   "$.# "*%     $    "*!"# %  !*  &   $   "  !   !"# #&    %   !#6.! %   &!$  %( "
S#  !      #!2      $   " !   %   # "$     $ !(!'! !+ $ ( * " $ %  !* ." % !%%   
% $ "  * $!(!"#    !%  "!(!#'!"$ #&!$  %(2
3"  $ "%( !   .%  : "* %  "& ! % .$%.    4     "$ !"#    . $  #   ' #&    % . +  $!$  #
+  # %  $  +.  "    %  ,   !"( !  4 !"# # %     ! $ !"## '     "%!$% ' %   % # '   
% $ "  *     !% #%  %  $   ! '  % #&     . $  + ( "#. +  $!$  #+  # %  $  2=.  "*&  $!
M    %  ,   !"( "%  #.$ #%  !#'!"$ #" )$  #%   .    ' $  )  $  %    !  $%  " &%  . +  $!$  #
%   . 2   ,   !"( &&   %  $  #%   .    ' $  "$  + "!%  ") % %  . +  $!$  #+  #   ' $ 2
T125DU115   T UUV21H   9 45 124 DG 9   
WXYZ[\]^_`]aW^bc_dbb
e ! (& &%(( !  !*     ! $    #  $ '   #% !%$  $ .#+ $ (       ' #!% 4%    ( )
%     !%.   !"#! $ .! !$% ' %() .#$ !  ."% %     $   " )   % !) #2f  %   $!( 
P

01234156517893 8615 15  3131 8 91864 896   33  8   8  5 08 1565810   3 82 
01234156517893 3     08 031   33 695 05  6 756  7  8 69 5344319  9293439598  298 5
8 7898 53 573 7  05    819 5184568 39 51 5 08 950 3 3 56 
 5 89343590695 05  68159 5        30 63 3 1  33 8    562695 6   52 31 9 5
 95  33 05  69 89   9  5093 15   33 05  69 89081123 2 5 9 13   3 99 5 3 28 4 895 5969 89
413 395 58     56505  6815 3    35 8113  5159 52039 593 55189505  69 13   3 93 1
 756  95 05  608  569315  80123 5 05713 59 8  43 9 8      65  93848959   5208  5
159 15 939 5  7  8  13   3 9 52 51598 5  8 93 3 3 6 31 3895 9363 5355 65 8  3 550   
 7  8 63  35 8113  82 5 65  31891864 89 9 508051 86 3959515 9 5 8113 62695 
  5986986!5   "9 51 65 8 8113  331 55 693 5 59 5 934137 59 5 55 5  35 8113    5
878 8  923 8 8113  33131 890 5 695 05  6450 5 8  3 64 26086938   6951 81 51 36563 
0 5 39 518423118 893 8 5  31993518 08959 5 65865  95 05  9 5184568 91864 896815 65  31
 39 080513 68  3#080513 6 658656 
 95 05  6815 3       08 031   33  $031   33 695 05  6% 8 08  503  5095 8 69315 
8 9518 8 26 31 "751&' '''031   33 695 05  91864 896 875 55 451 31 5 93 895   5(3 482
 5 57569 89 82481596    899368758 693159 56505  6 31439598   9 15 65 29 51 8  2 59 51
 319 5 33131 31839 51 8  2 5  51  3 82 695 05  91864 896815 3 8 8005495 91589 596 31
89 5869)* 658656  5 5 575 8    513 9 5   5#9 15895   + 9 039 5 1565810  9 681583 
 5 08 950 3 3 2 39 519 51845 90 656 31031   33 695 05  6815 5  5 4 315  ,3153751 1565810 516
 5 5759 52 82 5 9 !5  9 5  9 15 3191589  6586569 890 1159 2 875 30 15 
-969 5(3 4826 663 93  31 5 4509894815968 9 51415898 08154137 5163 9 5
439598  5 08  55 96 13 4156517  695 05  68 934137 59 5 9 5 5868 413056656 3103  5093
8 69318 53 9 56505  6  7869 8.31923 5 4509894815968156 4 2 8 8159 89    08 031   33 
0398 6810 6 44 23  3#0391375168 695 05  68 9 899 5208  503  5095  41305665 8 69315  319 5
439598   9 15 653 9 5 5  31 8 4366  215 895  8  2 5  516   8 26695 05  68158451 509 890 
 319 5 8 29 13   3 996  58  8758/# #00 8053  5  8451 509 890 8 81# #00 8053  5  8
8005498  5 890  3186      5156 3866 1805  3 5751 9 898451 509 890  5869 505  603    5
 65 939158905198  6586563 9 5 5  31 31815 8975  3 82 9669  03  3  319 5031   33  9 5  33 
15 8   9 5    08 031 8 4 80598 93 5 6081 5 899 59 53  19 86 5 08  8695 
2564959 5439598  55 963     08 031   33 695 05  4156517893 9 5    513 4815963 
5  31648190489  695 05  4156517893 669  15 8975 26 8  03 4815 939 5    513  19 6  3 1
   3 4518     9 53 95  98956  3 5158636 319 6 3  575 3  81 5945591893 8159 5
 645105493 3 9 5   03693 695 05  69318 58 8 5518  80 3 8 8155663 9 5 55 963 695 05  
4156517893 413 18 6  3 5751 573 7   5 08 950 3 3 203   6   089 2 0158659 5 9 !893 3 9 5
    08 031   33  3191864 89893 8 43139 51924563 91589 596   5(3 482 5 575693  5169 5
   569 8 92    56978  5651705981 595 938 138  8653 9 5 81 59 +5 95 93 8  !53 1 13 9 
439598 9 13   3 16 45131  8 92 78  5# 175 03 459975 58 516 443693 413  09   5159893 8
5  5  5 0 59 865  015865 4   08 8155668 8005 51895  81 5945591893 
  5(3 482 5 57569 899 5 81 59 31031   33 695 05  4156517893 65 805  2  3 8 
 60 663 3 695 05  1565810  575 34 5968 9 50 1159 30 63 15  0  413  975 58 9 081503696 
+ 9 9 5 01586  036963  35 8113  890 568 91864 896 8 5  31 6    08 031   33 05  608  5
69315 86841508 93812 586 15 ,5 08 950 3 3 26036989 2573 7    0  824137 5 5  656 31
012341565175 031   33 695 05  6 
567897:;<99:=>?@8?<<=>97AB?=?7CDE?F
  5(3 48259516 9369318 58 155 596 9 960 596  51  0 9 5(3 4820 81 568 55
 319 54130566  8 9569 8  16925813 69318 53 9 5    08 031   33    5158 951 9 50 596
0

01234562727782955 3515  50  57 8795 1509 57575356 7 27    523 35  2 6 3245 927 32
9 5  5 35  2 6 3245 927 
 15    27  03 3251526 8235323590256 7275239         8235  25   15 23
083357  6 2782083 74 320 05276  6  85 320 05 0   0   ! 0  9 27 20 9   " 6276
#384$6  7 32 7 %"#$&!'  "( 23 ')  5 50 *5 7 2 '  + 35 8 35 18 2705998923276 85 
,256 3680 ,5 278208356 70  9 2705- 14 6 85 320 05  0   ! .7266  7 1505998923
 3680 03 457 0 3245235212 ,55765 47562 2%,87/53 &- 157127056 3*  7 35083   ,8 96 74
3  02 7 357* 37 5729595 57 3 50 7276,20/ 8    5  3  532 729356876270 5  15
    27 ,59 5*5 12 -2 15 3  3 *25,27/  305 036,9 6 72501794 0299 276  532 7299 
26*270560   0    0  9 27 20 9    15    27   20 9   -1 0129 0833579 185 15    27  
09 57 53* 05  23/5 7427626  7 32 *5  532 7  65 4756 200   6252,32632745 5*57
8012 09 57 83276  57185 2 -5992 56802 729- 3/1  309 7 0 27 27650 5027 2357  
#85 159   56 324502 20     50  74 20 9   7196 23 "2 15    27  83012562
+3      8235 20 9  90256752315(552301 3 27495 23/ 715(54 729    5305 5753 7#8312  
4 31 239 72 %45-"20 9  &!  15    27 ,59 5*5  - 9912*5  205 37 79   50  74276 8835
 753729 32457556 ,829 - 9912*51502 20   531 36 23  123 2058 0290  27 5 276 56 029
 7  8 7 3245 53* 05  58 2059989231532  92,32 3   27820835 55701  29 3 290599
 % 5 &!27615 3   599.7  85 3 5998923 1532  5 8765315 2 53  
6789:;<;<=:>?=@A;@B:C
 15    27 ,59 5*5 12  3* 65 5*5329/5 26*27245 *53  0  5 3  70986 74D
E  15- 396   3  3 *25036,9 6,27/ 12 70 , 72 7- 1  49,292  9 25 0833579 
35 *53'F+    036,9 6276036 85  50  57 - 396- 65 
E 8320 9    28 2 20    2760    0  9 27 3 *25036,9 6,27/- 1$$GG
200356 2 7276"$   15"8762 7 315$00356 2 7 3 5998923 1532  !200356 2 7 
E 2 25   15 2392,32 3  305  74 20 9   
E 8 9 H2 7 2 305  74 5168 74 8 53 3501794 12  596 15 20  8 350*53 
15291  5 0599276 3* 65 8 53 3356,9 665 95 7 *53299 153 516 
E 2 *5 0  23 57036,9 6 355H53,2412299- 3 89  9585 15,2,  036,9 6
5 0599 
E 2 25 50835276  7 356 324557* 37 57 
E  705 705  7    I* 2, 9  325 15    27    50  57 8 712- 31532 58 085 
E 2 25  15 23  78925609950 7/  
E )62  53-55/ 305  7402 2, 9   276
E 2 2  57-23327 87653-1 0115    27 24355  2 J+      5 50 *5"5,3823   '  '
1  2  57-2  7035256 J)+     375-09 57  5 50 *5K875  '  )1  2  57-2
 7035256 J        375-09 57 1201 515 35  8 036,9 6 305  74 516 
 35 2  5 G!   09 57  158 , 9 029036,9 6 3680353 5*56 856 32 5 0599
327 927 315673 327   56 252  9  5 ,53276 2 9 57432 8,L50 *23 8
35 3 0 7 
MNOPQRSSTU
.7$848 '    15    27  7368056  26*2705675-036 85 53* 05 -1 01 35 2 50 7
158 , 9 029036 85 $  30  259   0 7015 15036 85  308356276327 356 15



shareholder letter icon 10/7/2024 Letter Continued (Full PDF)
 

CCEL Stockholder/Shareholder Letter (CRYO CELL INTERNATIONAL INC) | www.StockholderLetter.com
Copyright © 2023 - 2024, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.