Pluristem Life Systems, Inc. (Pluristem) is engaged in software development. The Company's business plan was premised on the use of artificial intelligence in computer programming technology and in many areas of the computer, Internet, robotics and games industries. On May 5, 2003, the Company entered into a license agreement (the License Agreement) with the Weizmann Institute of Science and the Technion-Israel Institute of Technology to acquire a license for a stem cell expansion technology. This technology will offer solutions to make bone marrow transplants and other methods of cell therapy more accessible to patients suffering from leukemia, lymphoma, myeloma and a broad range of complicated diseases and disorders. On June 10, 2003, the Company purchased 100% of the issued and outstanding shares of a research and development company based in Israel called Pluristem, Ltd. On June 25, 2003, the Company changed its name from A.I. Software, Inc. to Pluristem Life Systems, Inc.