Zero Gravity Solutions, Inc. Receives Notification of Patent Approval for its Commercial Product, BAM-FX from the United States Patent and Trademark Office
BOCA RATON, Fla.— (November 24, 2015),– Zero Gravity Solutions, Inc.'s (“ZGSI” or the “Company”) (Pink Sheets: ZGSI), an agricultural biotechnology public company commercializing its technology derived from and designed for Space with significant applications on Earth, announced today that it has received notification from the United States Patent and Trademark Office (USPTO) that its BAM-FX™ patent pending application has been approved for issuance in the United States. The Company is now completing the last procedures necessary for the final issuance of the patent. The approval of the BAM-FX patent represents a significant milestone in the product’s commercialization.
“The rollout and introduction of BAM-FX in multiple markets and crops is well underway; the granting of the patent approval by the USPTO provides necessary protection for our unique and potentially disruptive agricultural technology,” stated Glenn Stinebaugh, ZGSI’s President and Chief Executive Officer. Mr. Stinebaugh further stated, “We believe that the Company’s manufacturing facility will be able to provide commercial quantities of BAM-FX for the current and upcoming growing season. The intended expansion of our agricultural sales, marketing and professional staff enabled by our recently announced equity financing, will allow us to accelerate the pace of our commercialization efforts.
Zero Gravity Solutions, Inc. Closes $3 million First Tranche of Equity Private Placement
BOCA RATON, Fla.— (November 20, 2015),– Zero Gravity Solutions, Inc.'s (ZGSI or the “Company”) (Pink Sheets: ZGSI), an agricultural biotechnology company commercializing its technology derived from and designed for Space with significant applications on Earth, announced today that it has closed an initial tranche of $3 million of the Company’s Units in an exempt private placement transaction with several accredited investors (“Private Placement”). Each Unit in the Private Placement consists of one share of common stock and a warrant to purchase one share of common stock and the Company may sell up to a total of $7 million under the terms of the Private Placement within the next 30 days.
Livingston Securities, LLC, a New York based broker/dealer, acted as the sole placement agent for this round of financing. The proceeds from this Private Placement will provide the capital to deploy the infrastructure necessary to support the rollout of the Company’s first commercial product, BAM-FX, in agricultural markets.
“To take advantage of the more than 60 domestic and international commercial trials conducted in 2014 and 2015 on a large variety of crops, in which initial observations and independent laboratory analysis demonstrated significant increases in yield, biomass and other attributes, the Company is utilizing this new capital to expand our staff of certified crop advisors, agronomists and qualified sales and marketing personnel to support the Company’s short term revenue generation goals,” stated Harvey Kaye, Chairman of ZGSI.
For more detail on the Private Placement, please refer to the Company’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on November 20, 2015.