Seattle WA (PRWEB) February 04, 2013
Visualant, Inc. (OTCBB: VSUL) the industry-leading provider of chromatic-based identification and diagnostic solutions, announced today that the company acquired all of the remaining rights associated with its previous convertible debenture financing. The details of that transaction were set forth in an 8K filed by the company on January 29, 2013. Additionally, an investor group and company insiders and affiliates acquired the outstanding common stock held by the debenture holders.
Ron Erickson, Visualant Founder and CEO stated, “We are pleased to resolve all outstanding matters with our prior convertible debenture holders. With the acquisition of their common stock as well, we have established a foundation for the Company’s growth.”
This transaction follows on the heels of the company being celebrated both in the press and among industry peers alike with its recent features headlines in C/Net, Forbes, Seattle Business Journal and most recently, Laser Focus World. Visualant’s latest technological advances are being demonstrated to all attendees of SPIE Photonics West 2013 trade show currently being held in San Francisco, CA from February 2-7, 2013, where Visualant is also participating as a finalist in the 2013 Annual Prism Awards for Photonic Innovation.
Visualant and its executive team will attend the event to celebrate award winners, and provide demonstrations of its latest prototype using ChromaID technology. To request a demonstration of Cyclops ChromaID hand-held scanner, please contact Todd Sames, Vice President of Business Development by phone at (425) 269-7546 or by email at Todd.M(dot)Sames(at)visualant(dot)net.
Visualant has recently revamped and expanded its website at http://www.visualant.net where comprehensive information on the Visualant ChromaID™ technology is available, as well as a history of the development of the technology at http://www.visualant.net/resources/Visualant_The_ChromaID_Story.pdf
About Visualant, Inc.
Visualant™ is a public company whose shares trade under the stock symbol, VSUL. The Visualant Spectral Pattern Matching™ technology directs structured light onto a substance, through a liquid/gas, or off a surface, to capture a unique ChromaID™. When matched against existing databases, a ChromaID can be used to identify, detect, or diagnosis markers invisible to the human eye. ChromaID scanner modules can be integrated into a variety of mobile or fixed-mount form factors. The patented technology is disruptive, making it possible to effectively conduct analyses in the field that could only previously be performed by large and expensive lab–based tests.
Visualant entered into a one year Joint Development Agreement on May 31, 2012 with Sumitomo Precision Products Co., Ltd. ("SPP"), which focuses on the commercialization of the SPM technology and a License Agreement providing SPP with an exclusive license of the SPM technology in identified Asian territories. For more information, visit http://www.visualant.net.
Sumitomo Precision Products Co., Ltd. has operations in Japan, United States, China, United Kingdom, Canada, and other parts of the world. Additional information on SPP is available at http://www.spp.co.jp/English/index2-e.html.
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