UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 27, 2020
OCEAN BIO-CHEM, INC.
(Exact name of registrant as specified in charter)
| Florida | 0-11102 | 59-1564329 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
| 4041 S.W. 47 Avenue, Fort Lauderdale, Florida | 33314 | |
| (Address of principal executive offices) | (Zip Code) |
(954) 587-6280
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock $.01 par value | OBCI | The NASDAQ Stock Market |
Item 8.01 Other Events.
On March 27, 2020 Ocean Bio-Chem, Inc. (the “Company”) issued a press release announcing that its subsidiary was granted additional patent from U.S. Patent and Trademark Office for Disinfectant/Sanitizer Pouch Delivery System for Performacide.®
The information furnished pursuant to Item 8.01 of this Current Report, including the exhibits furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such future filing that such information is to be considered “filed” or incorporated by reference therein.
Item 9.01 Financial Statements and Exhibits
The Company is furnishing the following exhibit to this Current Report:
|
Exhibit Number |
Description | |
| 99.1 | Press release, dated April 27, 2020 |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| OCEAN BIO-CHEM, INC. | ||
| Date: April 29, 2020 | By: | /s/ Jeffrey S. Barocas |
| Jeffrey S. Barocas | ||
| Chief Financial Officer | ||
2
EXHIBIT 99.1
Ocean Bio-Chem,
Inc. Granted Additional Patent from U.S. Patent and Trademark Office for
Disinfectant/Sanitizer Pouch Delivery System for Performacide®
Performacide® included on EPA’s list of products qualified for use against virus that causes COVID-19
FORT LAUDERDALE, Fla., April 27, 2020 /PRNewswire/ -- Ocean Bio-Chem, Inc. (NASDAQ: OBCI), has announced that its wholly owned subsidiary has been granted an additional patent for the Company’s Disinfectant Pouch Delivery System with Fluid Control, which is used for delivery of the Company’s Performacide® product. This new design patent supplements our existing patents.
Performacide® is an EPA-registered disinfectant and sanitizer that is included on the List N published by the Environmental Protection Agency (EPA) of products that have qualified for use against SARS-CoV-2, the cause of COVID-19. Performacide® is also effective to kill other viruses and bacteria including Norovirus*, E. coli, Salmonella enteric, MRSA and influenza-A*. A full list of viruses* and bacteria that Performacide® can kill is on the retail package.
Peter Dornau, President and CEO of the Company, commented: “The granting of the latest patent from the U.S. Patent and Trademark Office further enhances our ability to pursue and expand sales of Performacide®, including in industries not currently served by the product.”
As previously announced, as a result of increased sales of Performacide® since the inception of the COVID-19 pandemic, the Company has increased personnel and shifts for the manufacture of Performacide®. The Company is also currently expanding production capacity with the purchase of additional equipment.
About Performacide®
Performacide® utilizes chlorine dioxide (ClO2), which is a gas dissolved in water, as a disinfectant. CIO2 offers considerable advantages over many other traditional disinfectants, as it requires no cleanup after use, lowering user error found in many commercial applications when used as directed. Performacide® kills viruses and bacteria and then dissipates into the air leaving no carcinogens or poisonous residuals. A strong oxidizer, it also removes foul smells, including cigarette smoke, as well as allergens. Performacide® ships as a small, easily stored dry pouch that the user drops into a container of water. This makes it ideal for use in both commercial and residential settings.
About Ocean Bio-Chem, Inc.:
Ocean Bio-Chem, Inc. manufactures, markets and distributes a broad line of appearance and maintenance products for the marine, automotive, power sports, recreational vehicle and outdoor power equipment markets under the Star brite® and Star Tron®. The Company also manufactures, markets and distributes a line of disinfectant, sanitizing and deodorizing products under the Performacide® and Star brite® brand names. In addition, the Company produces private label formulations of many of its products for various customers and provides custom blending and packaging services for these and other products. Star brite® , Star Tron®, Performacide®, Odor Star® and other brand names are marketed within the United States of America and Canada.
OBCI encourages all persons and companies to be safe and healthy during this time of emergency. Check that your disinfectant is approved for use against SARS-CoV-2, the cause of COVID-19 (https://www.epa.gov/pesticide-registration/list-n-disinfectants-use-against-sars-cov-2) and always read product labels for accurate directions and dwell time for proper disinfection and sanitization.
The Company's web sites are: www.oceanbiochem.com, www.starbrite.com; www.startron.com; www.performacide.com.
Forward-looking Statements:
Certain statements contained in this press release constitute forward-looking statements, including, without limitation, those relating to our ability to leverage the granting of a new patent to expand sales of Performacide®, our ability to increase manufacturing capacity of Performacide® and the effectiveness and utility of Performacide® in use against SARS-CoV-2, the novel coronavirus that causes COVID-19. For this purpose, any statements contained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "believe," "may," "will," "expect," "anticipate," "intend," “has the ability” or "could," including the negative or other variations thereof or comparable terminology, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Factors that may affect these results include, but are not limited to, the nature of the COVID-19 virus, and the scope, duration and effects of the related pandemic; the manner in which our products are used; the highly competitive nature of our industry; prices for raw materials that are petroleum or chemical based and other factors addressed in our annual report on Form 10-K for the year ended December 31, 2019.
Contact:
Peter Dornau
CEO and President
pdornau@starbrite.com
954-587-6280
Jeff Barocas
Vice President & CFO
jbarocas@starbrite.com
954-587-6280