Boon Industries Announces Filing of Annual Report on Form 10-K with the Securities and Exchange Commission
Boon Industries Announces Filing of Annual Report on Form 10-K with the Securities and Exchange Commission
SACRAMENTO, CA, May 03, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Boon Industries, Inc. (OTC PINK: BNOW) ("Boon" or the "Company"), an innovative bioscience company delivering solutions that benefit people and the planet, is pleased to announce that it has filed its Annual Report on Form 10-K with the Securities and Exchange Commission (SEC) for the year ended December 31, 2021. This is the first periodic report filed by the Company with the SEC since becoming subject to the reporting requirements of the Securities Exchange Act of 1934. The Company previously filed a Registration Statement with the SEC that became effective on February 14, 2022.
The full report is available at: https://www.sec.gov/ix?doc=/Archives/edgar/data/1877788/000187778822000013/bnow-10k.htm
Highlights of the filing include:
- A twenty-five percent increase in revenue in 2021 as compared to 2020.
- A reduction in stockholders' deficit from $197,700,000 to $69,387,000 as a result of retiring of Series A Preferred Stock.
- Net loss in 2021 increased by 20%.
During 2021, the Company generated $607,000 from financing activities from the issuance of convertible debt and used the proceeds primarily to market the Company's flagship product line, build a production facility, and pay professional fees in connection with becoming a fully reporting company.
"We are pleased to have filed our first 10-K with the SEC," stated Justin Gonzalez, CEO, Boon Industries. "Taking this step in reporting and transparency has been an important goal of management. While 2021 was a challenging year in which shareholders experienced dilution due to our necessary fundraising efforts, we look forward to growing the Company's revenue in 2022 which would reduce our need to engage in dilutive financings."
"I believe we have made great progress in establishing a sturdy foundation, from financial and organizational, to product development, to sales and marketing. We are clear that there remains much to do to further strengthen our foundation. To that end, we were able to retire stock last year and will continue to evaluate what is best for our shareholders and our brands in unison," added Gonzalez.
The company is working on updates to marketing deliverables, including communication to our valued investors and anticipates announcing these efforts early in Q2. Additionally, the Company is working to secure additional clients and the launching of market driven scientific research designed to support the specific value propositions that Boon products provide.
Gonzalez explained the importance of completing Boon's expanded co-manufacturing facility as integral to future revenue growth. "With our expanded footprint we are pursuing larger distribution opportunities for our core brands and have the production capacity to create new product offerings. We now have the ability and capacity to build additional revenue streams for the business and we are finally in the market ready position that we have worked so diligently to place ourselves," said Gonzalez.
About Boon Industries
Boon Industries, Inc. (OTC: BNOW) is an innovative bioscience company delivering solutions that benefit people and the planet. At the core of Boon's product offering is DiOx+™ and BioDox™, a chlorine dioxide disinfectant sterilizer. Chlorine dioxide has been approved by OSHA, FDA, EPA, and DOT. DiOx+ kills harmful pathogens without dangerous toxic exposure to the user or the environment. The proprietary chemical formulas and processes behind Boon's products make it ideal for sterilization of mission critical, high value medical equipment and disinfecting air and surfaces in laboratory and hospital environments. BioDox™ helps prevent agricultural crops from disease. Diox+™ is used in water treatment plants, and helps reduce operational costs in warehousing, distribution centers and ecommerce support facilities. The introduction of DiOx+ to the U.S. market follows 12 years of chlorine dioxide usage in global markets driven by Boon's CEO Justin Gonzalez. DiOx+ delivers on Boon's promise to provide the most effective, affordable solutions without sacrificing health and safety. DiOx+ is produced at Boon's manufacturing facility and corporate headquarters in Grass Valley, California
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes," "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law
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加利福尼亞州薩克拉門託,2022年5月3日(Global Newswire)--通過NewMediaWire-Boon Industries,Inc.(場外交易PINK:BNOW)博恩公司是一家創新的生物科學公司,提供造福人類和地球的解決方案,該公司高興地宣佈,它已向美國證券交易委員會(美國證券交易委員會)提交了截至2021年12月31日的10-K表格年度報告。這是本公司自受1934年證券交易法的報告要求以來向美國證券交易委員會提交的第一份定期報告。該公司此前向美國證券交易委員會提交了一份註冊聲明,於2022年2月14日生效。
報告全文可在以下網址查閱:https://www.sec.gov/ix?doc=/Archives/edgar/data/1877788/000187778822000013/bnow-10k.htm
申請的要點包括:
- 2021年的收入比2020年增長25%。
- 由於A系列優先股的退出,股東的赤字從197,700,000美元減少到69,387,000美元。
- 2021年淨虧損增加20%。
2021年期間,公司從發行可轉換債券的融資活動中獲得607,000美元,並將所得資金主要用於營銷公司的旗艦產品線,建造生產設施,以及支付與成為一家全面報告公司相關的專業費用。
博恩工業的首席執行官賈斯汀·岡薩雷斯說:“我們很高興向美國證券交易委員會提交了我們的第一份10-K協定。”在報告和透明度方面邁出這一步一直是管理層的一個重要目標。雖然2021年是具有挑戰性的一年,由於我們必要的籌資努力,股東們經歷了稀釋,但我們期待著2022年公司收入的增長,這將減少我們參與稀釋融資的需要。
岡薩雷斯補充說:“我相信,我們在建立堅實的基礎方面已經取得了很大進展,從財務和組織,到產品開發,再到銷售和營銷。我們很清楚,要進一步加強我們的基礎,還有很多工作要做。為此,我們去年能夠停用股票,並將繼續一致地評估什麼對我們的股東和我們的品牌最好。”
該公司正在更新營銷交付成果,包括與我們重要的投資者進行溝通,並預計在第二季度初宣佈這些努力。此外,該公司正在努力爭取更多的客戶,並啟動以市場為導向的科學研究,旨在支持Boon產品提供的特定價值主張。
岡薩雷斯解釋了完成Boon擴大的聯合制造設施作為未來收入增長不可或缺的重要性。岡薩雷斯說:“隨著我們足跡的擴大,我們正在為我們的核心品牌尋求更大的分銷機會,並有能力創造新的產品供應。我們現在有能力和能力為業務建立更多的收入來源,我們終於處於市場準備的地位,我們如此勤奮地工作來定位自己。”
關於Boon Industries
Boon Industries,Inc.(場外交易代碼:BNOW)是一家創新的生物科學公司,提供造福人類和地球的解決方案。Boon提供的產品的核心是DIOX+™和BIODOX™,這是一種二氧化氯消毒劑消毒器。二氧化氯已獲得OSHA、FDA、EPA和DOT的批准。DIOX+殺滅有害病原體,不會對使用者或環境產生危險的有毒物質。Boon產品背後的專利化學配方和工藝使其成為關鍵任務、高價值醫療設備以及實驗室和醫院環境中的空氣和表面消毒的理想選擇。BIODOX™有助於防止農作物患病。DIOX+™用於水處理廠,有助於降低倉儲、配送中心和電子商務支持設施的運營成本。在將Diox+引入美國市場之前,在Boon首席執行官賈斯汀·岡薩雷斯的推動下,二氧化氯在全球市場上使用了12年。Diox+兌現了Boon的承諾,在不犧牲健康和安全的情況下提供最有效、最實惠的解決方案。Diox+是在Boon位於加利福尼亞州草谷的製造工廠和公司總部生產的
前瞻性聲明的避風港:本新聞稿包含非歷史事實的前瞻性陳述。前瞻性陳述包括描述公司未來計劃、目標或目標的估計和陳述,包括公司或管理層預期將出現的情況或結果的表述。前瞻性陳述可以用“相信”、“預期”、“預期”、“估計”、“可能”、“可能”、“將”、“將”或“計劃”等術語來識別。由於前瞻性陳述以假設為基礎,涉及未來的事件和情況,因此它們本身就具有內在的風險和不確定性。雖然這些陳述是基於公司目前掌握的資訊,但公司不能保證實際結果將符合管理層的期望。前瞻性資訊涉及的風險、不確定性和其他因素可能會導致實際事件、結果、業績、前景和機會與此類前瞻性資訊明示或暗示的內容大不相同。可能導致實際結果與這些前瞻性資訊大不相同的因素包括但不限於總體經濟和金融市場狀況的變化。儘管本公司認為在準備本新聞稿中的前瞻性資訊時使用的假設和因素是合理的,但不應過度依賴這些資訊,因為這些資訊僅適用於本新聞稿發佈之日,並且不能保證此類事件將在披露的時間框架內發生或根本不會發生。除法律要求外,公司沒有任何更新或修改任何前瞻性資訊的意圖或義務,無論是由於新資訊、未來事件或其他原因
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