EV Biologics Corp, OTC PINK:YECO, today announced that it will distribute a dividend of one (1) Non-Fungible Token (NFT) for every 100 shares of YECO common stock held on the record date. Shareholders possessing less than 100 shares will not be eligible for this special dividend.
The NFTs will be given via a dividend to YECO’s shareholders of record on July 30, 2021.
CEO Daniel Mckinney said, ‘This is the first time a public company has distributed such a NFT digital asset as a dividend. This is history in the making. We are very pleased to be able to reward our loyal shareholders for their ongoing commitment to development of regenerative cell and EV-based therapeutic technologies with this valuable NFT dividend worth $300 each.’
EV Biologics has acquired the complete limited series of seventy-two thousand two hundred and fifty-three (72,253) NFTs from MS Token LLC, for $300 USD per NFT, for a total of $21,675,900 covered by a convertible note from YECO secured by stock.
What is a Non-Fungible Token?
A NFT is a digital asset that represents real-world objects or media such as art, music, in-game items and videos. They are bought and sold online, frequently using cryptocurrency , and they are often encoded using the same type of block-chain software/cryptographic algorithms such as ERC-721. Developed in 2014, NFTs are becoming an increasingly popular way to buy and sell digital artwork. A staggering US$2 billion+ was spent on NFTs in Q1 2021.
Similarly unique to artistic and musical compositions, NFTs are also generally one of a kind, or produced in very limited runs, and have unique identifying codes. ‘Essentially, NFTs create digital scarcity,’ says Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures. This stands in stark contrast to most digital creations, which are potentially infinite in supply. Limited production and encryption of these distinctive digital creations confers increased value of an NFT asset that is in demand.
Unlike early NFTs that were frequently digital creations that already existed in some form elsewhere (eg. iconic video clips from professional sports, securitized versions of digital art already floating around on Instagram), NFTs like those produced by MS Token are original compositions with their own intrinsic artistic merit. One well-known example of such an original NFT is ‘EVERYDAYS: The First 5000 Days,’ a composite of 5,000 daily drawings created by famous digital artist Mike Winklemann, better known as ‘Beeple’ – sold at Christie’s for a record-breaking $69.3 million . – Forbes Advisor
About MS Token LLC
With a treasure trove of exclusive content to draw upon, MS Token, the owner of the Millennium Sapphire has put together a team of industry leaders to create a powerful NFT production studio leveraging off of content carved on the Sapphire. 134 scenes, representing the high points in human civilization over the past 5,000 years are carved on the Millennium Sapphire. These carvings form the inspiration of MS Token’s NFT productions.
The Millennium Sapphire is widely considered an icon in world of art and gems. It was designated the World’s Largest Carved Sapphire by Guinness World Records in 2001 and is one of the most documented gemstones of modern times. Since its discovery in Madagascar in 1995, this remarkable blue gem has appeared on CNN, BBC, NBC, FOX and numerous other television networks around the world. It has been written about in virtually every major newspaper and has been the subject of articles published in dozens of magazines, such as Forbes, WSJ and others. The MS was showcased at an Academy Awards event in 2002, also in Seattle in 2004 as part of the festivities surrounding the launch of Princess Cruises’ newest ship, The Sapphire Princess. www.millenniumsapphire.com
MS Token pursues a strategy of partnering with leading digital artists and studios to develop unique NFTs. This strategy allows us to have an ongoing flow of fresh content based on the original carvings on the Sapphire. From carvings of some of history’s most famous people to landmarks such as the Pyramids and the historic Sputnik launch on the Millennium Sapphire will all be developed into NFTs over time. Our studio photographer has just completed an elaborate photo shoot in the depths of a bank vault, in a secret location. The content produced, will form the basis of the collaborations with world famous digital artists and their interpretations via NFT animations to bring these pieces to life.
About the Company
EV Biologics (formerly Yulong Eco-Materials Limited) is a Wyoming, USA domiciled Biotechnology Company, intent on developing and enhancing the intrinsic therapeutic activity of mesenchymal stromal cell (MSC) secreted factors, as well as targeted delivery of bioactive molecules using engineered exosomes. The company is working to optimize cell lines for production of native bioactive nanoparticles and to establish an exosome engineering platform to enhance specific therapeutic activity. Initially, these novel regenerative products will be produced for preclinical research on a number of clinical indications. Using proprietary and patentable technologies, the Company is creating exclusive IP and IT inherent in these bioengineered products. Further product development will be focused on investigation of novel stem cell-derived biopharmaceuticals designed for specific clinical conditions.
This news release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The words or phrases ‘plans,’ ‘would be,’ ‘will allow,’ ‘intends to,’ ‘may result,’ ‘are expected to,’ ‘will continue,’ ‘anticipates,’ ‘expects,’ ‘estimate,’ ‘project,’ ‘indicate,’ ‘could,’ ‘potentially,’ ‘should,’ ‘believe,’ ‘think,’ ‘considers’ or similar expressions are intended to identify ‘forward-looking statements.’ These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
YECO has 7.22 million shares issued and outstanding with a float of 1,016,375 shares.