Sigma Labs, Inc. Signs Licensing Agreement With Allotrope Sciences Relating to Reactive Munitions Technologies
SANTA FE, N.M., April 10, 2013 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB) announced today that it has signed a licensing agreement with Allotrope Sciences, Corp. to market and commercialize Sigma Labs innovative reactive munitions technologies – ARMS and BAM. Terms were not disclosed.
Bonded Advanced Materials ("BAM") and Advanced Reactive Materials and Structures ("ARMS") are projectile and munitions-related technologies developed by Sigma Labs, and have wide applicability for use on new weapons systems.
Allotrope was founded by and Alan Yarborough and Dr. Robert Phillips specifically established for the commercialization of innovative defense related technologies. The founders have significant previous success in selling novel technologies to military and defense customers, such as U.S. Government clients.
Mark Cola, President and Chief Executive Officer of Sigma Labs, stated that "Allotrope is precisely the type of commercialization partner we seek: Allotrope's management has a proven track record in selling to government clients and also has significant experience with munitions and military technology. They also have the ability to follow through on a well-developed business plan that involves further product development as well as marketing and sales." Alan Yarborough, Chief Executive Officer of Allotrope, stated that "Both through my direct military service as well as my support roles in counter-terrorism, force transformation, counter-IED, etc., I have a thorough appreciation of what is required to market Sigma's munitions technology to the military sector. I am very optimistic about the potential of Sigma Labs' unique technology offerings and will immediately commence an aggressive plan of commercialization which we have organized to serve U.S. military and allied interests globally."
Mark Cola, President and Chief Executive Officer of Sigma, added that "As part of our strategy to monetize our IP and realize significant revenue growth within the 2013-2014 timeframe, this agreement considerably advances the commercialization of our munitions technologies. Further, this agreement allows Sigma Labs to continue its' focus on other technical areas such as Additive Manufacturing and 3D printing, where we have focused the majority of our effort at this time."
About Sigma Labs, Inc.
Sigma Labs, Inc. has three wholly-owned subsidiaries – B6 Sigma, Inc., Sumner & Lawrence Limited (dba Sumner Associates) and La Mancha Company. B6 Sigma develops advanced manufacturing solutions and materials technologies, as well as R&D solutions for first-tier integrators and other commercial firms worldwide. Sumner Associates and La Mancha provide high-level consultants to Federal government and commercial clients seeking productive solutions for emerging and strategic development technologies. Sigma Labs has current contracts with Federal government and private industry clients to provide high-level consultants and develop technologies from their conception through the design, building, and testing of prototype systems. For more information please visit us at www.sigmalabsinc.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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, uncertainties and assumptions that could adversely affect us, including the risks set forth in our most recent annual report on Form 10-K. The forward-looking statements in this press release are made only as of the date of this press release. We undertake no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Sigma Labs, Inc.
Released April 10, 2013