<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 3pt; border-top: Black 3pt solid; border-bottom: Black 3pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 25%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">October 19, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 25%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MULTICELL TECHNOLOGIES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 30%; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-decoration: underline; text-align: center">Delaware</TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 30%; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-decoration: underline; text-align: center"><B><U>001-10221</U></B></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 30%; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-decoration: underline; text-align: center">52-1412493</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(State or other jurisdiction of incorporation)</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(Commission&nbsp; File Number)</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(IRS Employer<BR> Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>68 Cumberland Street, Suite 301</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Woonsocket, RI 02895</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices,
including zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(401) 762-0045</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 3pt; border-top: Black 3pt solid; border-bottom: Black 3pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 Entry into a Material Definitive Agreement. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 19, 2012, MultiCell Technologies,
Inc. (the &ldquo;Company&rdquo;) entered into a Settlement Agreement and Mutual Release (the &ldquo;Settlement Agreement&rdquo;)
with Monarch Pointe Fund, Ltd. &ndash; in liquidation (&ldquo;Monarch&rdquo;), represented by Stuart Mackellar, managing partner
of Zolfo Cooper (BVI) Limited, in his capacity as the liquidator of Monarch Pointe Fund, Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: black">As previously
disclosed on the Company&rsquo;s Registration Statement on Form SB-2 filed on August 12, 2004, on July 13, 2004, the Company and
Monarch, </FONT>Mercator Momentum Fund, L.P., Mercator Momentum Fund III, L.P., and Mercator Advisory Group, LLC (collectively,
the &ldquo;Series I Purchasers&rdquo;)<FONT STYLE="color: black">, entered into a Subscription Agreement, pursuant to which the
Series I Purchasers purchased an aggregate of 20,000 shares of the Company&rsquo;s Series I Convertible Preferred Stock (the &ldquo;Series
I Subscription Agreement&rdquo;). As previously disclosed on the Company&rsquo;s Current Report on Form 8-K filed on July 20, 2006,
the Company, and Monarch, Mercator Momentum Fund III, L.P., Asset Managers International Ltd. and Pentagon Special Purpose Fund
Ltd. (collectively, the &ldquo;Series B Purchasers&rdquo;) had previously entered into a (i) Subscription Agreement, dated as of
July 14, 2006, pursuant to which Monarch and the other Series B Purchasers purchased an aggregate of 17,000 shares of the Company&rsquo;s
Series B Convertible Preferred Stock (the &ldquo;Series B Subscription Agreement&rdquo;), which were convertible into shares of
the Company&rsquo;s common stock, par value $0.01 per share (the &ldquo;Common Stock&rdquo;), at any time at the sole discretion
of the holders, and (ii) a related Registration Rights Agreement, dated as of July 14, 2006 (the &ldquo;Registration Agreement&rdquo;),
pursuant to which the Company agreed to file, within 45 days after the closing date, a registration statement covering the resale
of the shares of the Common Stock issuable upon conversion of the shares of the Company&rsquo;s Series B Convertible Preferred
Stock. </FONT>The foregoing description of the Series I Subscription Agreement is qualified in its entirety by reference to the
full text of such agreement, a copy of which is filed as Exhibit 10.1 to the Company&rsquo;s Registration Statement on Form SB-2
filed on August 12, 2004 and is hereby incorporated by reference herein. The foregoing descriptions of the Series B Subscription
Agreement and the Registration Agreement are qualified in their entirety by reference to the full text of such agreements, copies
of which are filed as Exhibits 10.1 and 4.4, respectively, to the <FONT STYLE="color: black">Company&rsquo;s Current Report on
Form 8-K filed on July 20, 2006,</FONT> and are hereby incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company and Monarch had a good faith
disagreement regarding the number of shares of the Common Stock issuable to Monarch in respect of the conversion of the shares
of the Company&rsquo;s Series I Convertible Preferred Stock (the &ldquo;Series I Shares&rdquo;) and Series B Convertible Preferred
Stock (the &ldquo;Series B Shares&rdquo; and together with the Series I Shares, the &ldquo;Preferred Shares&rdquo;) held by Monarch,
as well as the amount of the unpaid dividends owed to Monarch in respect of the Series B Shares (the &ldquo;Dividends&rdquo;).
The Settlement Agreement provides that the Company will issue Monarch 56,429,250 shares of the Common Stock in respect of the conversion
of the shares of the Preferred Shares and the Dividends. The Settlement Agreement further provides that in consideration of the
issuance of the Common Stock to Monarch, the parties agree to release any and all claims they may have, or may in the future have,
against one another in respect of the Preferred Shares or Dividends. Effective as of the execution of the Settlement Agreement,
and pursuant to its terms, any and all prior agreements between the parties shall be terminated, including but not limited to the
provisions of the Series I Subscription Agreement, the Series B Subscription Agreement, and the Registration Agreement, solely
with respect to Monarch&rsquo;s rights thereunder. The foregoing description of the Settlement Agreement is qualified in its entirety
by reference to the full text of such agreement, a copy of which is filed as Exhibit 10.1 hereto, and is hereby incorporated by
reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 3.02 Unregistered Sales of Equity
Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information set forth in Item&nbsp;<FONT STYLE="color: black">1.01
</FONT>of this Current Report on Form 8-K is incorporated by reference in this Item&nbsp;3.02</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 19, 2012, MultiCell Technologies,
Inc. (the &ldquo;Company&rdquo;) appointed Grant G. Miller to the board of directors to serve until his successor is duly appointed
or elected. Mr. Miller will replace Anthony Altig who resigned from the board of directors and from his position as Chairman of
the Audit Committee. Mr. Miller has been named as the new Chairman of the Audit Committee. In connection therewith, the board of
directors granted to Mr. Miller an option to purchase 1.0 million shares of the Company&rsquo;s common stock at an exercise price
per share of $.0015, the closing price of the Company&rsquo;s common stock on October 19, 2012, as reported on the over the counter
bulletin board. Mr. Miller&rsquo;s option has a 5-year term, and 1/36<SUP>th</SUP> of the shares underlying the option vest on
the last day of each month following the date of the grant over the next three years, so long as Mr. Miller continues to be a service
provider to the Company. Mr. Miller&rsquo;s option will be governed by the Company&rsquo;s 2004 Equity Incentive Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Miller received his B.A. from Loma
Linda University in Riverside, CA and an MBA; Finance from the University of San Diego, in San Diego, CA. Mr. Miller currently
serves as Chief Financial &amp; Operating Officer of Sandel Avionics and has previously served as Chief Financial Officer of Rapid
Bridge, LLC, General Manager &amp; Division Controller of Scubapro, Chief Financial Officer of USA Broadband, Inc., Chief Financial
Officer &amp; Senior VP Operations of Alitum, and held several positions with WorldXchange and Time Warner Cable, including International
Director of Development in Spain and Portugal, Regional Vice President Finance, Corporate Mergers &amp; Acquisitions Analyst, Manager,
Finance and Information Systems and Financial Analysis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Item 9.01 </B></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><B>Exhibits </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>(</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif">d</FONT><FONT STYLE="font-variant: small-caps">)
</FONT>Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">10.1</TD><TD>Settlement Agreement and Mutual Release, dated as of October 19, 2012, by and between MultiCell Technologies, Inc. and Monarch
Pointe Fund, Ltd. &ndash; in liquidation, represented by Stuart Mackellar, managing partner of Zolfo Cooper (BVI) Limited, in his
capacity as the liquidator of Monarch Pointe Fund, Ltd.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">99.1</TD><TD>Press Release dated October 22, 2012.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold">MULTICELL TECHNOLOGIES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-right: 0.7pt; padding-left: 0.7pt; text-align: right">By:&nbsp;&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">/s/ W. Gerald Newmin</TD>
    <TD STYLE="width: 17%; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>W. Gerald Newmin</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Chief Executive Officer, Chief Financial Officer</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: <B>October 24, 2012</B></P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin: 0"></P>

</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "v326588_8k.htm", "description": "CURRENT REPORT", "secsgml_size_bytes": 23353}]
{"company-data": {"conformed-name": "MultiCell Technologies, Inc.", "cik": "0000811779", "assigned-sic": "2834", "irs-number": "521412493", "state-of-incorporation": "DE", "fiscal-year-end": "1130"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10221", "film-number": "121158436"}, "business-address": {"street1": "68 CUMBERLAND STREET, SUITE 301", "city": "WOONSOCKET", "state": "RI", "zip": "02865", "phone": "(401)762-0045"}, "mail-address": {"street1": "68 CUMBERLAND STREET, SUITE 301", "city": "WOONSOCKET", "state": "RI", "zip": "02865"}, "former-company": [{"former-conformed-name": "Multicell Technologies Inc.", "date-changed": "20040615"}, {"former-conformed-name": "EXTEN INDUSTRIES INC", "date-changed": "19920703"}, {"former-conformed-name": "EXTEN VENTURES INC", "date-changed": "19910923"}]}
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, DC 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)
October 19, 2012
MULTICELL TECHNOLOGIES, INC.
(Exact name of registrant as specified in
its charter)
Delaware
001-10221
52-1412493
(State or other jurisdiction of incorporation)
(Commission  File Number)
(IRS Employer
Identification No.)
68 Cumberland Street, Suite 301
Woonsocket, RI 02895
(Address of principal executive offices,
including zip code)
(401) 762-0045
(Registrant's telephone number, including
area code)
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On October 19, 2012, MultiCell Technologies,
Inc. (the "Company") entered into a Settlement Agreement and Mutual Release (the "Settlement Agreement")
with Monarch Pointe Fund, Ltd. – in liquidation ("Monarch"), represented by Stuart Mackellar, managing partner
of Zolfo Cooper (BVI) Limited, in his capacity as the liquidator of Monarch Pointe Fund, Ltd.
As previously
disclosed on the Company's Registration Statement on Form SB-2 filed on August 12, 2004, on July 13, 2004, the Company and
Monarch,
Mercator Momentum Fund, L.P., Mercator Momentum Fund III, L.P., and Mercator Advisory Group, LLC (collectively,
the "Series I Purchasers")
, entered into a Subscription Agreement, pursuant to which the
Series I Purchasers purchased an aggregate of 20,000 shares of the Company's Series I Convertible Preferred Stock (the "Series
I Subscription Agreement"). As previously disclosed on the Company's Current Report on Form 8-K filed on July 20, 2006,
the Company, and Monarch, Mercator Momentum Fund III, L.P., Asset Managers International Ltd. and Pentagon Special Purpose Fund
Ltd. (collectively, the "Series B Purchasers") had previously entered into a (i) Subscription Agreement, dated as of
July 14, 2006, pursuant to which Monarch and the other Series B Purchasers purchased an aggregate of 17,000 shares of the Company's
Series B Convertible Preferred Stock (the "Series B Subscription Agreement"), which were convertible into shares of
the Company's common stock, par value $0.01 per share (the "Common Stock"), at any time at the sole discretion
of the holders, and (ii) a related Registration Rights Agreement, dated as of July 14, 2006 (the "Registration Agreement"),
pursuant to which the Company agreed to file, within 45 days after the closing date, a registration statement covering the resale
of the shares of the Common Stock issuable upon conversion of the shares of the Company's Series B Convertible Preferred
Stock.
The foregoing description of the Series I Subscription Agreement is qualified in its entirety by reference to the
full text of such agreement, a copy of which is filed as Exhibit 10.1 to the Company's Registration Statement on Form SB-2
filed on August 12, 2004 and is hereby incorporated by reference herein. The foregoing descriptions of the Series B Subscription
Agreement and the Registration Agreement are qualified in their entirety by reference to the full text of such agreements, copies
of which are filed as Exhibits 10.1 and 4.4, respectively, to the
Company's Current Report on
Form 8-K filed on July 20, 2006,
and are hereby incorporated by reference herein.
The Company and Monarch had a good faith
disagreement regarding the number of shares of the Common Stock issuable to Monarch in respect of the conversion of the shares
of the Company's Series I Convertible Preferred Stock (the "Series I Shares") and Series B Convertible Preferred
Stock (the "Series B Shares" and together with the Series I Shares, the "Preferred Shares") held by Monarch,
as well as the amount of the unpaid dividends owed to Monarch in respect of the Series B Shares (the "Dividends").
The Settlement Agreement provides that the Company will issue Monarch 56,429,250 shares of the Common Stock in respect of the conversion
of the shares of the Preferred Shares and the Dividends. The Settlement Agreement further provides that in consideration of the
issuance of the Common Stock to Monarch, the parties agree to release any and all claims they may have, or may in the future have,
against one another in respect of the Preferred Shares or Dividends. Effective as of the execution of the Settlement Agreement,
and pursuant to its terms, any and all prior agreements between the parties shall be terminated, including but not limited to the
provisions of the Series I Subscription Agreement, the Series B Subscription Agreement, and the Registration Agreement, solely
with respect to Monarch's rights thereunder. The foregoing description of the Settlement Agreement is qualified in its entirety
by reference to the full text of such agreement, a copy of which is filed as Exhibit 10.1 hereto, and is hereby incorporated by
reference herein.
Item 3.02 Unregistered Sales of Equity
Securities.
The information set forth in Item
1.01
of this Current Report on Form 8-K is incorporated by reference in this Item 3.02
Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 19, 2012, MultiCell Technologies,
Inc. (the "Company") appointed Grant G. Miller to the board of directors to serve until his successor is duly appointed
or elected. Mr. Miller will replace Anthony Altig who resigned from the board of directors and from his position as Chairman of
the Audit Committee. Mr. Miller has been named as the new Chairman of the Audit Committee. In connection therewith, the board of
directors granted to Mr. Miller an option to purchase 1.0 million shares of the Company's common stock at an exercise price
per share of $.0015, the closing price of the Company's common stock on October 19, 2012, as reported on the over the counter
bulletin board. Mr. Miller's option has a 5-year term, and 1/36
th
of the shares underlying the option vest on
the last day of each month following the date of the grant over the next three years, so long as Mr. Miller continues to be a service
provider to the Company. Mr. Miller's option will be governed by the Company's 2004 Equity Incentive Plan.
Mr. Miller received his B.A. from Loma
Linda University in Riverside, CA and an MBA; Finance from the University of San Diego, in San Diego, CA. Mr. Miller currently
serves as Chief Financial & Operating Officer of Sandel Avionics and has previously served as Chief Financial Officer of Rapid
Bridge, LLC, General Manager & Division Controller of Scubapro, Chief Financial Officer of USA Broadband, Inc., Chief Financial
Officer & Senior VP Operations of Alitum, and held several positions with WorldXchange and Time Warner Cable, including International
Director of Development in Spain and Portugal, Regional Vice President Finance, Corporate Mergers & Acquisitions Analyst, Manager,
Finance and Information Systems and Financial Analysis.
Item 9.01
Exhibits
(
d
)
Exhibits
10.1
Settlement Agreement and Mutual Release, dated as of October 19, 2012, by and between MultiCell Technologies, Inc. and Monarch
Pointe Fund, Ltd. – in liquidation, represented by Stuart Mackellar, managing partner of Zolfo Cooper (BVI) Limited, in his
capacity as the liquidator of Monarch Pointe Fund, Ltd.
99.1
Press Release dated October 22, 2012.
SIGNATURES
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.
MULTICELL TECHNOLOGIES, INC.
By:
/s/ W. Gerald Newmin
W. Gerald Newmin
Chief Executive Officer, Chief Financial Officer
Date:
October 24, 2012