Zero Gravity Solutions, Inc. Restructures its Board of Directors to Create a Majority of Independent Directors
BOCA RATON, Fla.— (December 1, 2015),– Zero Gravity Solutions, Inc. (“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 restructured its Board of Directors (Board) to create a majority of independent directors and to further set into motion the Company’s plans to comply with senior exchange listing board composition requirements. In order to accomplish this goal, three members of the Board who were considered inside directors have resigned. The Company has now added three new directors to existing Board members Harvey Kaye, Patrick Kennedy, Edward Cowle and Michael T. Smith. The Company’s new directors are Glenn Stinebaugh, ZGSI’s current President and Chief Executive Officer, and independent Board members, Soumyo Sarkar and Alexander (Alex) Boies.
Soumyo Sarkar is currently CEO & Portfolio Manager of Sūmit Capital LLC, an independent institutionally-oriented investment advisory firm. Founded in 2010, Sūmit Capital is a New York based, SEC-registered investment advisor. Prior to founding Sūmit Capital, Mr. Sarkar was a Managing Director with Deutsche Bank and the Founder and Head of the Deutsche Bank Matched Book Arbitrage Group. He ran the Deutsche Bank Matched Book Arbitrage Group from 1995-2009. Prior to joining Deutsche Bank, Soumyo ran a similar strategy within Credit Suisse proprietary trading group from 1991-1995. Prior to Credit Suisse, Mr. Sarkar held various research and programing roles for over five years with Solomon Brothers, Merrill Lynch and Lehman Brothers. Mr. Sarkar holds an MBA from the University of Iowa’s Tippie School of Management and a BTech from the BHU Institute of Technology in Varanasi, India.
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.