Pressure BioSciences, Inc. (PBIO) Announces $7.24M Debt-to-Equity Swap as it Prepares for 2018 Uplisting to National Stock Exchange
- Equity swap further boosts Pressure BioSciences’ plans to uplist to a major stock exchange later this year
- Latest deal brings total debt-to-equity conversions to over $13.6M in past 30 days
- 2015/2016 debentures, line-of-credit and promissory note, plus various short-term debt, now converted to equity
- Company’s recently acquired Pre-EMT™ platform, allowing for improved protein-based drug development, has significant market potential and adds to a string of technological developments
Pressure BioSciences Inc.’s (OTCQB: PBIO) ambitions to achieve listing on a major stock exchange this year have taken another major step forward as yet another group of debt holders have agreed to a debt-to-equity swap, this time amounting to $7.24 million, representing a strong message of investor support. The total amount of debt that has been converted to equity is now over $13.6 million, all in just the past four weeks (http://nnw.fm/y5V2d).
In a news release, Joseph L. Damasio, the company’s VP of finance and CFO, said, “With today’s announced conversion of an additional $7.24M of debt to equity, total loan debt has been reduced from approximately $16.6M to approximately $3.0M, an amount that we believe is manageable by PBI. We are continuing to talk to the remaining debt holders and have reason to believe that several more may follow the lead of the approximate 40+ debt holders who have converted their debt into equity over the past 30 days. If they do, we believe the amount of loan debt on our Balance Sheet could decrease by an additional 10-20%.”
Jeffrey N. Peterson, chairman of the board of directors, added, “We believe PBI’s recent accomplishments, when combined with the conversion of the majority of our loan debt into equity, will materially enhance our stated objective of uplisting to a national exchange (NASDAQ, NYSE/Amex) later in 2018, which should result in a more stable, attractive, and valuable company for all shareholders.”
This announcement follows a long list of positive news for the company, including first quarter revenue growth and the agreement of an earlier $6.39 million debt-to-equity swap with the company’s 2015/2016 Convertible Debenture Holders, made public on May 18, 2018 (http://nnw.fm/qNy6T).
Pressure BioSciences develops and produces life sciences laboratory tools based on its pioneering Pressure Cycling Technology (PCT). This patented technology is a powerful instrument that enables scientists to prepare biological samples for use in a wide range of fields, including biomarker discovery, pathology, forensics and agriculture.
The company’s PCT systems, including instruments and related consumables, are in use throughout the U.S., Canada, Europe, Australia, Japan and China, with 300 systems set up in more than 150 labs. The PCT system boasts a number of advantages over other methods, including better DNA detection and improved extraction of cell membrane and other proteins.
Pressure BioSciences is also in collaboration with Phasex Corporation to create water-soluble nanoemulsions, which could have wide-ranging uses in pharmaceutical research and development, cosmetics, food production and various industrial applications (http://nnw.fm/jQ1Du).
Phasex develops separation processes for extracting various compounds, natural extracts and chemicals using its supercritical fluid (SCF)-based toll processors. By combining Phasex’s extraction methods and PBI’s Ultra Shear Technology (UST) – an innovative technique based on the use of intense shear forces generated by ultra-high pressure – the companies expects to develop stable nanoemulsions that will be of significant commercial interest.
Emulsification refers to the process by which liquids that cannot ordinarily be blended together are held in a mixture, usually with the addition of another chemical, known as a surfactant or an emulsifier. Nanoemulsions allow extremely tiny droplets of one liquid to be mixed with another. Because the droplets are so small, nanoemulsions allow a larger amount of so-called “hydrophobic” liquids to be mixed with water. When used in medicine, this could mean that the nanoparticles are more readily absorbed into the body, resulting in treatments that are more effective. The applications extend beyond medicine to a number of other industries.
With its Ultra Shear Technology, Pressure BioSciences can reduce the need to add surfactants while creating nanoemulsions, which should lead to a purer compound with fewer additives and greater stability.
The company is also optimistic about the market potential of yet another one of its groundbreaking technologies: the Pre-EMT™ platform, which helps pharmaceutical companies create protein-based medicines, and it has already attracted interest from the pharmaceutical industry. Pressure BioSciences acquired Pre-EMT™ when it recently bought all of the assets of BaroFold, Inc., the previous owners of the technology.
Since the acquisition, Pressure BioSciences has entered into a contract with a drug company interested in using Pre-EMT™ to develop protein-based therapeutics, and more deals are in the pipeline (http://nnw.fm/4Lkrx).
For more information, visit the company’s website at www.PressureBioSciences.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- Equity swap further boosts Pressure BioSciences’ plans to uplist to a major stock exchange later this year
- Latest deal brings total debt-to-equity conversions to over $13.6M in past 30 days
- 2015/2016 debentures, line-of-credit and promissory note, plus various short-term debt, now converted to equity
- Company’s recently acquired Pre-EMT™ platform, allowing for improved protein-based drug development, has significant market potential and adds to a string of technological developments
Pressure BioSciences Inc.’s (OTCQB: PBIO) ambitions to achieve listing on a major stock exchange this year have taken another major step forward as yet another group of debt holders have agreed to a debt-to-equity swap, this time amounting to $7.24 million, representing a strong message of investor support. The total amount of debt that has been converted to equity is now over $13.6 million, all in just the past four weeks (http://nnw.fm/y5V2d).
In a news release, Joseph L. Damasio, the company’s VP of finance and CFO, said, “With today’s announced conversion of an additional $7.24M of debt to equity, total loan debt has been reduced from approximately $16.6M to approximately $3.0M, an amount that we believe is manageable by PBI. We are continuing to talk to the remaining debt holders and have reason to believe that several more may follow the lead of the approximate 40+ debt holders who have converted their debt into equity over the past 30 days. If they do, we believe the amount of loan debt on our Balance Sheet could decrease by an additional 10-20%.”
Jeffrey N. Peterson, chairman of the board of directors, added, “We believe PBI’s recent accomplishments, when combined with the conversion of the majority of our loan debt into equity, will materially enhance our stated objective of uplisting to a national exchange (NASDAQ, NYSE/Amex) later in 2018, which should result in a more stable, attractive, and valuable company for all shareholders.”
This announcement follows a long list of positive news for the company, including first quarter revenue growth and the agreement of an earlier $6.39 million debt-to-equity swap with the company’s 2015/2016 Convertible Debenture Holders, made public on May 18, 2018 (http://nnw.fm/qNy6T).
Pressure BioSciences develops and produces life sciences laboratory tools based on its pioneering Pressure Cycling Technology (PCT). This patented technology is a powerful instrument that enables scientists to prepare biological samples for use in a wide range of fields, including biomarker discovery, pathology, forensics and agriculture.
The company’s PCT systems, including instruments and related consumables, are in use throughout the U.S., Canada, Europe, Australia, Japan and China, with 300 systems set up in more than 150 labs. The PCT system boasts a number of advantages over other methods, including better DNA detection and improved extraction of cell membrane and other proteins.
Pressure BioSciences is also in collaboration with Phasex Corporation to create water-soluble nanoemulsions, which could have wide-ranging uses in pharmaceutical research and development, cosmetics, food production and various industrial applications (http://nnw.fm/jQ1Du).
Phasex develops separation processes for extracting various compounds, natural extracts and chemicals using its supercritical fluid (SCF)-based toll processors. By combining Phasex’s extraction methods and PBI’s Ultra Shear Technology (UST) – an innovative technique based on the use of intense shear forces generated by ultra-high pressure – the companies expects to develop stable nanoemulsions that will be of significant commercial interest.
Emulsification refers to the process by which liquids that cannot ordinarily be blended together are held in a mixture, usually with the addition of another chemical, known as a surfactant or an emulsifier. Nanoemulsions allow extremely tiny droplets of one liquid to be mixed with another. Because the droplets are so small, nanoemulsions allow a larger amount of so-called “hydrophobic” liquids to be mixed with water. When used in medicine, this could mean that the nanoparticles are more readily absorbed into the body, resulting in treatments that are more effective. The applications extend beyond medicine to a number of other industries.
With its Ultra Shear Technology, Pressure BioSciences can reduce the need to add surfactants while creating nanoemulsions, which should lead to a purer compound with fewer additives and greater stability.
The company is also optimistic about the market potential of yet another one of its groundbreaking technologies: the Pre-EMT™ platform, which helps pharmaceutical companies create protein-based medicines, and it has already attracted interest from the pharmaceutical industry. Pressure BioSciences acquired Pre-EMT™ when it recently bought all of the assets of BaroFold, Inc., the previous owners of the technology.
Since the acquisition, Pressure BioSciences has entered into a contract with a drug company interested in using Pre-EMT™ to develop protein-based therapeutics, and more deals are in the pipeline (http://nnw.fm/4Lkrx).
For more information, visit the company’s website at www.PressureBioSciences.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
