SALT LAKE CITY, Sept. 15 /PRNewswire-FirstCall/ -- Frame
Waves, Inc. (OTC Bulletin Board: FWAV)
FWAV announced today the closing of its acquisition of B6 Sigma,
Inc. in a share exchange transaction which resulted in B6 Sigma
becoming a wholly-owned subsidiary of FWAV. Each share of B6 Sigma
common stock was exchanged for 6.67 shares of FWAV common stock. B6
Sigma also closed a private offering of $1,000,000 of its common stock contemporaneous
with the closing of the FWAV share exchange, which included the
conversion of $300,000 of previously
issued convertible notes by B6 Sigma into the private offering. At
the closing, B6 Sigma also acquired and cancelled 738,000 shares of
FWAV common stock from three FWAV shareholders. The CEO of FWAV
resigned as an officer and director of FWAV and officers and
directors of B6 Sigma were elected as officers and directors of
FWAV.
As previously announced, FWAV shareholders have approved a 150
to 1 forward split and a name change to Sigma Labs, Inc., which are
to take place upon final FINRA approval of the foregoing actions. A
brief description of B6 Sigma follows:
B6 Sigma is comprised of leading scientists and engineers
out of the Los Alamos National Laboratory, with over 100 years of
combined experience. B6 Sigma Management has previously done
business with Fortune 50 defense and aerospace firms, USAF, US
Army and other major organizations. B6 Sigma currently has a
number of ongoing contracts with both the military and private
industry. All members of the top management group have
high level security clearances. B6 Sigma intends to pursue
agreements to aggressively commercialize and develop advanced
sensing, software, materials technologies and other unique
manufacturing processes for the defense, aerospace, and
general industries. Amongst other programs, B6 Sigma has in
place a number of proprietary and patent-pending technologies
including:
IPQA® – In Process Quality Assurance – A dramatic new approach
to significantly increase manufacturing quality worldwide, by
providing sensor-based, real-time, on-machine assessment of part
and process quality, to improve throughput and reduce scrap and the
need for time consuming inspections. Provisional and Utility
patents have been filed for this technology.
EBDM – Electron Beam Direct Manufacturing – B6 Sigma has
developed a control system for EBDM which enables significant
reductions in weight and part costs for titanium aerospace
components on both military and commercial aircraft. Utility
patents have been filed for this technology.
ARMS™ – Advanced Reactive Materials and Structures – This
system is designed to create a new generation of 21st Century
weapons resulting in up to 50% less weight for missiles and
bombs while delivering more energy on target and reducing
collateral damage in the process. Utility patents have been filed
for this technology.
Forward-Looking Statements
This news release contains forward-looking statements that
reflect Management's current views about future events and
financial performance. Forward-looking statements often
contain words such as "expects," "anticipates," "intends,"
"believes" or "will." Our forward-looking statements are
subject to a number of risks and uncertainties that may cause
actual results and events to differ materially from those projected
in the forward-looking statements. Risks and uncertainties
that could adversely affect us include, without limitation, the
loss of major customers, our failure to obtain new contracts, the
adverse affect of competition, delays in the production or shipment
of our products, the failure of our products or processes to
perform as anticipated, our inability to patent products or
processes, our infringement of patents held by others, our
inability to finance our business and the other risks and
uncertainties that are discussed in our most recent filings with
the Securities and Exchange Commission, including our Report on
Form 8-K that will be filed in connection with the transaction we
recently completed with B6 Sigma. The forward-looking
statements in this news release are made only as of the date of
this news release. We undertake no obligation to update our
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Frame Waves, Inc.
Copyright . 15 PR Newswire