GTI Updates Installation Information
Gyrotron Technology Inc. (PINKSHEETS: GYTI), a developer of innovative processing technology solutions, has been informed by its customer that its cryogenic-free gyrotron installation is now being used in regular production and has begun generating a royalty stream for GYTI. Based on discussions with the customer, GYTI believes that over time the customer will order four or more additional gyrotron installations related to the current project. The customer also indicated its intention to commence at least one additional project with GYTI involving a different application in 2014.
GTI Receives $355,000 Equity Investment
Gyrotron Technology Inc. (PINKSHEETS: GYTI), a developer of innovative processing technology solutions, announced today that it has received $355,000 in equity investment, $340,000 of which was provided by a major shareholder. The Company sold 10,145 Units at $35/Unit, each unit consisting of (a) one share of 10% junior convertible preferred stock with a liquidation preference of $35 convertible into 50 shares of common stock (i.e. a fixed conversion price of $0.70/shr) and (b) 50 warrants exercisable at $1.00, expiring 12/31/16. However, if after 12/31/14 the common stock underlying the warrants is registered, the warrants will expire 60 days after such registration. The company is seeking additional capital, from accredited investors only, on similar terms.
GTI Announces Chuck Mitman as Senior Consultant
Gyrotron Technology Inc. (PINKSHEETS: GYTI), a developer of innovative industrial technologies, announced today that as of October 1 it has retained Chuck Mitman, co-founder of MC 2 Advisory Group, as a senior consultant to assist GYTI with marketing and business development. GYTI and Mr. Mitman also anticipate that Mr. Mitman will join the senior management of GYTI in the first quarter of 2014.
GTI Successfully Tests Technology for High-Volume Consumer Application
Gyrotron Technology Inc. (PINKSHEETS: GYTI), a developer of innovative industrial technologies, announced today that a major consumer products company had contracted with GYTI for paid testing to study the feasibility of using the gyrotron in a high-volume consumer application. During testing, GYTI successfully demonstrated its ability to cure a specialized plastic foam to customer specifications in a fraction of the time, and using a fraction of the energy, required by conventional technology.
Glass Tempering Technology Provisional Patent Application Filed by GTI
Gyrotron Technology Inc. (PINKSHEETS: GYTI), developer of innovative industrial technologies, has filed a provisional patent application for a new technology for glass tempering, one of the primary methods of producing safety glass. The technology utilizes the gyrotron, a very powerful source of high frequency microwave energy. Most safety glass is produced by tempering and/or by laminating. Tempered glass is used extensively in the automotive and construction industries.
Produce Decontamination Technology Provisional Patent Application Filed by GTI
Gyrotron Technology Inc. (PINKSHEETS: GYTI), developer of innovative industrial technologies, has filed a further provisional patent application for its technology for decontamination of solid and semi-solid produce (e.g. cantaloupes, cucumbers and fruit). In GYTI’s laboratory scale tests, heating surfaces of certain kinds of produce for a small fraction of a second with a gyrotron, a very powerful source of high frequency microwave energy, reduced the bacteria count on those surfaces by a factor of greater than 100,000, without compromising appearance.
Touch Panel Screen / LCD Display Lamination Provisional Patent Application Filed by GTI
Gyrotron Technology Inc. (PINKSHEETS: GYTI), a high performance industrial process technology company, announced that it filed a provisional patent application earlier this month for its equipment and technology for laminating cover glass to displays such as touch panels and LCD’s using adhesive film. This application seeks to broaden the patent coverage of GYTI’s already patented glass lamination technology and relates to production of handheld devices such as cellular phones and tablets, laptops or any other portable electronic devices, as well as larger devices such as television screens, kiosk screens, ATM screens and LCD modules. GYTI’s new process is based on GYTI’s existing autoclave-free laminating technology and equipment and has been successfully tested on the laboratory scale.
Grass Roots Research Initiates Coverage on GTI With a Price Target of $4.31 per Share
Gyrotron Technology Inc. (PINKSHEETS: GYTI), a developer of innovative industrial technologies, announced today that Grass Roots Research & Distribution Inc (GRRD), an independent micro-cap research firm, has issued a research report on GYTI with a price target of $4.31 per share. For a copy of the report including all disclosures and disclaimers, please go here: http://www.grassrootsrd.com/grassrootsrd/Reports/Gyrotron_Technology_09_06_2012.pdf