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The collection and foreclosure litigation is directly related to principaland accrued interest of approximately $4,001,769 in loans advanced by VytaCorp to BIOAGRA, LLC, including $3,963,982 loaned through a series of securedpromissory notes, and an additional $37,787 for open advances not representedby a note.
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Following conclusion of such litigation, Vyta Corp expects to own all ofthe assets of BIOAGRA, LLC and plans to continue engaging in the manufactureand distribution of AGRASTIM(R), while expanding marketing efforts.AGRASTIM(R) has been listed by The Organic Materials Review Institute (OMRI)as approved for use in organic production.
About Vyta Corp
Vyta Corp, based in Denver, Colorado, is traded on the over-the-counterNASDAQ stock market (OTCBB: VYTC) as well as on the Frankfurt, Hamburg, XETRAand Munich Exchanges (OTC: VYTA). In addition to its interest in BIOAGRA,LLC, Vyta Corp owns various patents and intellectual properties related toNCS(R) (NanoPierce Connection System) an advanced electronic connectionsystem. For more information on Vyta Corp, please visit its website athttp://www.vytacorp.com .
About BIOAGRA, LLC
BIOAGRA, LLC is based in Hinesville, Georgia, where it produces, marketsand sells AGRASTIM(R), which is a purified, all natural, nontoxic yeast Beta1,3/1,6-D glucan product with a high bioactivity function that improves theimmune systems of animals and humans. AGRASTIM(R) is also used to replacegrowth promotion antibiotics that are currently used in the feed of the beefand dairy cattle, equine, swine, poultry and aquaculture industries.
This announcement contains forward-looking statements about Vyta Corp thatmay involve risks and uncertainties. Important factors relating to theCompany's operations could cause results to differ materially from those inforward-looking statements and further detailed in filings with the Securitiesand Exchange Commission (SEC) available at the SEC website(http://www.sec.gov). All forward-looking statements are based on informationavailable to Vyta Corp on the date hereof and Vyta Corp assumes no obligationto update such statements.Contacts: Vyta Corp Paul H. Metzinger President & Chief Executive Officer 370 17th St. Suite 3640 Denver, CO 80202 303-592-1010 Fax: 303-592-1054 E-mail: [email protected]
SOURCE Vyta Corp
