Zero Gravity Solutions Establishes Two Operating Subsidiaries as the Company Enters Revenue Generation & BAM-FX™ Commercialization
BOCA RATON, Fla. – (October 9, 2014) – Zero Gravity Solutions, Inc. (ZGSI or the “Company”) (Pink Sheets: ZGSI) announced today that it has established two wholly-owned subsidiaries, BAM Agricultural Solutions, Inc. and Zero Gravity Life Sciences, Inc. BAM Agricultural Solutions has commenced manufacturing, sales and revenue generation through the receipt of commercial-quantity orders for the Company’s first agricultural product, BAM-FX. Zero Gravity Life Sciences will continue ongoing research and development work in conjunction with NASA and other institutions.
The Company has added to its senior management team in order to effectively manage these companies. Mr. Glenn Stinebaugh, who has been involved in sustainable economic development and agricultural projects worldwide for over 25 years, has been named President and CEO of BAM Agricultural Solutions, Inc. Mr. Stinebaugh has been actively involved in the Company’s sales and marketing activities for several months. Mr. Stinebaugh stated, “I have been impressed with the BAM-FX product, its efficacy, place in the market and initial customer response. I plan to implement a robust marketing, distribution and customer support plan and augment the manufacturing infrastructure.”
Mr. Richard Godwin will shift from his position as President and CEO of ZGSI, while remaining a director, to become President and CEO of Zero Gravity Life Sciences, Inc. Mr. Harvey Kaye, currently serving as Chairman of the Board of ZGSI, will assume the titles of President and Interim CEO of ZGSI. Mr. Godwin stated, “This repositioning will allow me to fully focus on our NASA relationships, our research and development for BAM-FX and future products for the Company’s expanding agricultural IP.”
“The Company’s senior management team now has its key officers in the most effective roles to best accomplish the Company’s objectives of rapid revenue generation, the scale up of manufacturing to meet anticipated demand and continuing the ongoing end user customer and NASA sponsored research and development to build the companies’ pipeline of agricultural products.”, stated Harvey Kaye, Chairman, President and Interim CEO of ZGSI.
About Zero Gravity Solutions, Inc.
Zero Gravity Solutions, Inc. is an agricultural biotechnology public company commercializing its technology derived from and designed for Space with significant applications on Earth. These technologies are focused on providing valuable solutions to challenges facing world agriculture. ZGSI’s two primary categories of technologies aimed at sustainable agriculture are: 1) BAM-FX™, an organic, cost effective, ionic nutrient delivery system for plants and 2) Directed Selection™, utilized in the development and production, in the prolonged zero/micro gravity environment of the International Space Station, large volumes of Non-GMO, novel, patentable stem cells with unique and beneficial characteristics. Additional information may be accessed at www.zerogsi.com.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, acceptance of the Company’s products, increased levels of competition for the Company, new products and technological changes, the Company’s dependence on third-party suppliers, and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.
Zero Gravity Solutions, Inc.
Harvey Kaye, Chairman, President and Interim CEO
BAM Agricultural Solutions, Inc.
Glenn Stinebaugh, President and CEO
Zero Gravity Life Sciences, Inc.
Richard Godwin, President and CEO