Vitro Diagnostics Inc. (fka VODG)

[Potse]

VODG...upcoming major corporate developments.....

Golden, Colorado—March 29, 2017 —Vitro Diagnostics, Inc. (OTCPK: VODG), dba Vitro Biopharma, announced the completion of a bridge loan in the amount of $125,000 and the execution of a Memorandum of Understanding (“MOU”) outlining the terms of a larger, subsequent financing to provide a total of not less than $1.7 million. Completion of the subsequent larger financing through the execution of a definitive agreement would initiate the establishment of a stem cell center of excellence in the Grand Cayman Islands. The bridge loan is provided by the Caribbean GC Development Fund, Ltd; a Cayman-based company specifically organized to fund stem cell projects in Grand Cayman.

“The benefits of the award-winning stem cell technology that Vitro Biopharma brings combined with the pristine and affluent environment of Grand Cayman and the availability of highly trained professional staff makes for a prolific, highly professional and cutting edge organization that directly addresses the immediate needs for those who are requiring the very best care available”, commented, Mr. William W. Becker, CEO of the Caribbean GC Development Fund, Ltd. Vitro Biopharma has recently established Halo Cell Sciences, Ltd.(“HCS”) as a wholly owned subsidiary incorporated under the laws of the Grand Cayman Islands. HCS will provide the platform and benefit to Vitro Biopharma in expanding its focus to include the application of its technology, products & services for various unmet medical needs in regenerative medicine. Stem cell therapy is evolving through early stage clinical trials as a therapeutic option for treatment of skeletal-muscular conditions such as osteoarthritis, various neurological conditions and cardiovascular disease.

Dr. Jim Musick, Ph.D., President and CEO of Vitro Biopharma said, “We continue to see growth of our product and service revenue as we move towards the achievement of profitability. We plan to use our increased resources to gain SEC compliance, expand operations and to access new distribution channels & capital. Our team has recently been expanded to include the expert services of John R. Evans as CFO. John has extensive financial experience as CFO/CEO of start-ups & large capital firms with $250 million in revenues. John’s expertise also includes raising significant capital, numerous M&A transactions, several successful IP licenses and strategic business development. I value his services and look forward to enhanced operational efficiency and expanded growth due to his addition to our team. Together with our advanced, propriety stem cell technology, products and services, we are well-positioned to capitalize on the growing global market for stem cell-based regenerative medicine. As is the case with our existing Fortune 100 clients; the Caribbean GC Development Fund chose us because of our highest of quality standards and technological advancements. Our expanding array of technology and services affords stem cell-based regenerative medicine approaches providing new avenues of treatment to several conditions that have previously been treated only at a symptomatic level.”

John R Evans said, “I am pleased to be on the team with Jim who is taking his leading edge research from the lab into practical applications that are going to drive the corporate revenue growth for years ahead.”

https://www.sec.gov/Archives/edgar/data/793171/000101103417000023/vitro_99ez2.htm


The March 29 press release and accompanying 8-K look pretty encouraging to me. If this funding agreement is completed as anticipated in the next couple of weeks, things should get much more interesting for VODG. I think it is reasonable to assume there will a noticeable increase in corporate news flow and investor relations types of activities going forward. At a minimum there could be some interesting trading opportunities (spikes, swings, or semi-sustained movements higher).

Based on the information in the 8-K, it appears Jim Musick will step aside as CEO (his new role will be President, Chief Scientific Officer, and Director). It is not entirely clear from the language in the filing if William Becker will take over as the new CEO of VODG, or whether they have plans to bring in another person. Becker is listed as the CEO of VODG's new subsidiary in the signatures part of the 8-K, but the filing doesn't specifically identify who will be the new VODG CEO.

Musick will convert all of the $2.3M debt (accrued compensation and advances) he is owed into 14M common shares. That works out be about .164 per share.

Interesting to note that according to the stem cell lab development agreement that VODG has established with DaVinci Centre, there are existing Institutional Review Board approvals for two clinical trials. Also, DaVinci will assist in the development/marketing of nutraceutical products......

https://www.sec.gov/Archives/edgar/data/793171/000101103417000023/vitro_10ez2.htm