Things that make you go hmmmmmmmmm JoJr...
PBI's Ultra Shear Technology™ ("UST™") nanoemulsification platform was specifically designed to make oils effectively soluble in water. Consequently, UST is expected to enable safer and more environmentally responsible and effective agrochemical dosing while reducing the amount and consequently the cost burden of expensive active ingredients required in agrochemical product formulations.
Mr. Richard T. Schumacher, President and CEO of PBI, commented: "Our breakthrough UST platform for processing high value oil-based active ingredients into superior quality nanoemulsions is expected to significantly improve absorption and bioavailability of active oily ingredients, with safer, better controlled, and more economical dosing delivery to the targeted plants. We believe our eco-friendly agrochemical products - some to be enhanced by UST processing - will offer revolutionary changes in product capabilities and innovation to agriculture customers worldwide."
Mr. John B. Hollister, Director of Sales and Marketing at PBI, said: "We have developed a very aggressive yet realistic plan to expand our business into the eco-friendly agrochemical space, which is currently over-flowing with growth opportunities. We believe few areas are hotter than eco-friendly agrochemicals, especially those that have been designed to minimize the long-term global environmental impact of persistent or glacially-slow degrading traditional agrochemicals."
Mr. Hollister added: "We look forward with anticipation to the close of the asset acquisition. We believe the line of high quality, eco-friendly agrochemical products being acquired, when combined with PBI's technical capabilities and innovative technology platforms, will result in strong product sales with significant revenue from the new agrochemical business sector for PBIO, beginning as soon as this current third quarter of 2021."
PBI's Board Chairman, Mr. Jeffrey N. Peterson provided a broader context: "In addition to our goal of finishing FY2021 with record strong revenue and a significant decrease in operating loss, we are also intently focused on two additional objectives: (i) eliminating from our balance sheet the expensive debt that PBI has necessarily utilized over the past few years to manage through periods when more reasonable equity financing was unavailable, and (ii) up-listing to either NASDAQ or the NYSE at the earliest appropriate opportunity. We are making excellent progress on both fronts and look forward to updating PBI's shareholders regularly on these two very important goals."
